Coro Energy PLC Joint Technical Study Offshore Malaysia (8715J)
10 December 2018 - 6:00PM
UK Regulatory
TIDMCORO
RNS Number : 8715J
Coro Energy PLC
10 December 2018
10 December 2018
Coro Energy Plc
("Coro" or the "Company")
Joint Technical Study, Offshore Malaysia
Coro is pleased to announce that it has agreed with Petroliam
Nasional Berhad ("PETRONAS") to conduct a joint technical study
over Block 2A, Offshore Malaysia.
The Block 2A Joint Study
Under the terms of the Study Coro will have permission to
conduct an extensive technical analysis of the acreage, thereafter
Coro will have the option to apply for a Production Sharing
Contract for the block, subject to PETRONAS' approval.
Block 2A is located in offshore Sarawak. The block is yet to be
drilled and located in deepwater area. with the nearest discovery
located approximately 70km to the east of the block.
Work to date on the block has identified a number of very large
structural closures at prospective levels, consistent with known
regional plays in this prolific part of the basin.
Central Luconia Province
The Central Luconia Province is one of the most prolific
hydrocarbon basins offshore Malaysia and is home to numerous large
and giant oil & gas fields. The early shallow water gas
discoveries in the 1970's and 80's resulted in the commissioning
and subsequent expansion of the world-scale Bintulu LNG plant.
More recently, the Province has been a standout exploration
success story in SE Asia, having seen a string of successful
exploration results from the deeper water, resulting in multi-Tcf
volumes of gas being discovered during the past five years.
James Menzies, Coro CEO commented:
"We would like to thank Petronas for giving Coro the opportunity
to work on this exciting acreage. This is a fantastic opportunity
for Coro to use its technical skills in firming up these very large
structural leads to drillable prospects using the very high quality
data now at our disposal."
For further information please contact:
Coro Energy Plc James Menzies, Chief Executive j.menzies@coroenergyplc.com
Officer
Andrew Dennan, Chief Financial a.dennan@coroenergyplc.com
Officer
Grant Thornton UK LLP (Financial and Nominated Adviser)
Colin Aaronson Tel: 44 (0)20 383 5100
Jen Clarke
Harrison J Clarke
Seamus Fricker
Vigo Communications - PR
Advisor
Patrick d'Ancona Tel: 44 (0)20 7390 0230
Chris McMahon
Mirabaud Securities Ltd (Joint Broker)
Peter Krens Tel: 44 (0)20
Ed Haig-Thomas 3167 7221
Turner Pope Investments (TPI) Ltd (Joint
Broker)
Ben Turner Tel: 44 (0)20 3621
James Pope 4120
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCLLFVEFSLDIIT
(END) Dow Jones Newswires
December 10, 2018 02:00 ET (07:00 GMT)
Coro Energy (LSE:CORO)
Historical Stock Chart
From Apr 2024 to May 2024
Coro Energy (LSE:CORO)
Historical Stock Chart
From May 2023 to May 2024