Coro Energy (CORO)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

 0.28p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.75
  • 52 Week Low: 0.24
  • Currency: UK Pounds
  • Shares Issued: 2,111.62m
  • Volume: 553,221
  • Market Cap: 5.86m
  • RiskGrade: 570

Coro Energy leaps following Indonesian gas acquisition

By Duncan Ferris

Date: Tuesday 16 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Coro Energy's shares stormed on Tuesday after the company completed its obligations to acquire a 15% working interest in the Duyung production sharing contract (PSC) in Indonesia.
The gas exploration company paid an outstanding cash consideration of $10.5m and issued existing PSC shareholders $1.85m in new Coro shares in order to fulfill its obligations to gain its interest in the exploration and appraisal drilling campaign.

Transfer of title of the interest to Coro is subject to Indonesian regulatory approval with a long stop date of 31 December, which, if successful, will result in the AIM traded company receiving 15% of the shares of West Natuna Exploration Ltd, the owner of the Duyung PSC.

The Duyung PSC contains the Mako gas field, a large, shallow structural closure, with an area extent of over 350 square kilometres.

The field is in the West Natuna basin, approximately 16km from a pipeline system which delivers gas from Indonesia to Singapore and a plan of development has recently been approved by Indonesian authorities, while initial gas marketing discussions have commenced with a gas buyer in Singapore.

Coro Energy's shares were up 11.90% at 2.35p at 1639 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Coro Energy Market Data

Currency UK Pounds
Share Price 0.28p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.75
52 Week Low 0.24
Volume 553,221
Shares Issued 2,111.62m
Market Cap 5.86m
RiskGrade 570

Coro Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
24.2% below the market average24.2% below the market average24.2% below the market average24.2% below the market average24.2% below the market average
23.46% above the sector average23.46% above the sector average23.46% above the sector average23.46% above the sector average23.46% above the sector average
Price Trend
97.59% below the market average97.59% below the market average97.59% below the market average97.59% below the market average97.59% below the market average
97.83% below the sector average97.83% below the sector average97.83% below the sector average97.83% below the sector average97.83% below the sector average
Income Not Available
Growth Not Available

Coro Energy Dividends

No dividends found

Trades for 27-Jul-2021

Time Volume / Share Price
14:28 52,729 @ 0.28p
14:14 182 @ 0.27p
12:28 500,000 @ 0.28p
12:06 310 @ 0.27p

Coro Energy Key Personnel

CEO Mark Hood

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