CORO Coro Energy Plc

TIDMCORO

RNS Number : 6809N

Coro Energy PLC

22 May 2020

This announcement contains inside information

22 May 2020

Coro Energy plc

("Coro" or the "Company")

Duyung PSC Acquisition Completion, Indonesia

Coro Energy plc, the Southeast Asian focused upstream oil and gas company, is pleased to announce that all necessary Indonesian regulatory approvals for the transfer of title of the 15% direct interest in the Duyung PSC (the "PSC Interest") to Coro have now been received. Accordingly, final completion of the acquisition of the PSC Interest by the Company from West Natuna Exploration Ltd has now been achieved.

The license holders of the Duyung PSC are now Conrad Petroleum Ltd (76.5% operated interest), Coro (15% non-operated interest) and Empyrean Energy plc (8.5% non-operated interest).

The Company looks forward to the publication of the revised independent reserve audit report from Gaffney Cline & Associates following the successful appraisal drilling campaign in the fourth quarter of 2019, which is expected to be announced later in the month.

For further information:

 
 Coro Energy plc                             Via Vigo Communications 
  James Parsons                                                  Ltd 
 Cenkos Securities plc (Nominated Adviser)   Tel: 44 (0)20 7397 8900 
  Ben Jeynes 
  Katy Birkin 
 Vigo Communications Ltd (IR/PR Advisor)     Tel: 44 (0)20 7390 0230 
  Patrick d'Ancona 
  Chris McMahon 
 Mirabaud Securities Ltd (Joint Broker)      Tel: 44 (0)20 3167 7221 
  Peter Krens 
  Ed Haig-Thomas 
 Canaccord Genuity Ltd (Joint Broker)        Tel: 44 (0)20 7523 4617 
  Henry Fitzgerald-O'Connor 
  James Asensio 
 

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END

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