Coro Energy plc, the Southeast Asian focused upstream oil and gas company, announces its unaudited interim results for the six month period ended 30 June 2019.

Highlights

South East Asia

• Continued execution of our South East Asia growth strategy targeting projects with existing discovered resource that we have identified to also exhibit exploration and/or commercial upside
• Secured our second transaction in Indonesia with the acquisition of a 15% working interest in the Duyung PSC, which contains the Mako gas field offshore West Natuna
• Plan of Development ('POD') approved for the Mako gas field, Duyung PSC
• Post period under review, announced the successful restructuring of the cash consideration payable in respect of our maiden deal in Indonesia - the acquisition of a 42.5% working interest in the Bulu PSC, which contains the Lengo gas field offshore East Java
• Continuing to evaluate a strong pipeline of business development opportunities including single assets and asset portfolios

Corporate

• Issued a €22.5m Eurobond supported heavily by key cornerstone investors Lombard Odier and CIP Merchant Capital
• Strengthened institutional investor presence via appointment of additional corporate broker and new nominated adviser
• CFO Andrew Dennan appointed to the board
• Decision to prioritise divestment of non-core Italian operations

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