SRON Saffron Eng

TIDMSRON

RNS Number : 2876C

Saffron Energy PLC

12 April 2017

12 April 2017

Saffron Energy Plc

("Saffron" or the "Company")

Final approval for first gas at Bezzecca

Saffron Energy plc (AIM: SRON), the natural gas producer with interests in northern Italy, is pleased to announce that it has received the final approval from the Italian Ministry of Economic Development (UNMIG) for gas production at the Bezzecca gas field on 11 April 2017. Commissioning and gas production will commence in the coming days.

Bezzecca is located east of Milan within the established prolific, gas-producing Po Valley region in northern Italy and operated by Saffron's subsidiary Northsun Italia SPA (NSI). Gas from Bezzecca 1 is processed at the Vitalba processing plant and directly connected by the national grid.

Chief Executive Officer of Saffron Energy, Michael Masterman commented: "We are extremely excited to be announcing first gas at Bezzecca as it represents a significant commercial and financial milestone for Saffron coming within 7 weeks of the successful IPO. It will significantly increase the overall Saffron gas production and strengthen our position and portfolio."

About Saffron Energy PLC

Saffron Energy is a natural gas producer with interests in Northern Italy. Its portfolio includes one gas production (Sillaro), one near-term gas production field (Bezzecca (90%)) and an application for a near-term gas production field (Sant'Alberto), all near Milan and Bologna. Saffron Energy commenced trading on the London AIM Market under the ticker of SRON on 24 February 2017.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For more information, please visit www.saffronenergy.co.uk or contact the following:

 
 Saffron Energy plc                  +44 (0) 7791288381 
 Michael Masterman, CEO              info@saffronenergy.co.uk 
 
 Grant Thornton UK LLP (Financial    +44 (0) 207 383 
  & Nominated Adviser)                5100 
 Colin Aaronson 
 Samantha Harrison 
 Harrison J Clarke 
 
 Turner Pope Investments (TPI) 
  Ltd (Broker)                       +44 (0)2036214120 
 Ben Turner                          info@turnerpope.com 
 James Pope 
 
 Cassiopeia Services (PR/IR)         +44 (0) 7949690338 
 Stefania Barbaglio                  Stefania@cassiopeia-ltd.com 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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