Coro Energy Share Discussion Threads

[cottoner] 09/4/2018 19:20

See SOU RNS issued today.

[123js] 09/4/2018 19:13

So does anything of this drop out to SOU holders...I haven't found any mention in the RNS...

[steelwatch] 09/4/2018 10:26

SP Angel opening remark:

• Coro Energy (LON:CORO– 4.30p) – Let’s See What Gives…:

In the past, we have been critical of those associated with Saffron and its parent company Po Valley, and we still are – we believe the tale of value destruction speaks for itself. However, the Company’s return to the market today has renewed optimism attached in the shape of James Menzies. We know that Messers Menzies and Parsons will not want to be associated with the “as you were” brand of failure at Po Valley, so there could yet be things happening. The first to fix is the engineering debacle at its flagship asset Bezzecca, which accounted for ~60% of its reserves at IPO, has had its 1P and 2P Reserves halved. This is especially pressing given that the Bezzecca has been in Coro’s (Saffron’s/Po Valley) portfolio since its discovery in 2009 through to production in 2014, so there will be lots of in-house data and experience with the asset. With the advent of new management arriving, it really will be time to sit back and watch and see what gives.

[steelwatch] 09/4/2018 08:19

CORO open for business 😀

[steelwatch] 30/3/2018 10:46

Interview with CEO James Menzies starts at 06:50 mins:

[steelwatch] 28/3/2018 16:21

@CoroEnergy (aka SRON)
5 hours ago

Coro Energy reminds investors of General Meeting taking place 11:00am tomorrow: Grant Thornton, 30 Finsbury Square, London, EC2A 1AG followed by an investor lunch at Finch's Pub 12a Finsbury Square. Please e-mail [e-mail] if you have have not secured your place.

[geordy2] 22/3/2018 16:34

I see they have addressed the lack of G & G experience as mentioned in my previous posting.

[steelwatch] 22/3/2018 07:51

High profile CEO appointment just announced:

[kazz] 13/3/2018 16:29

hxxps://guerillainvesting.co.uk/2018/03/13/saffron-energy-coro-energy-bit-convoluted-goodun/

[steelwatch] 01/3/2018 16:25

Copied from the SRON thread:

qackers
1 Mar '18 - 16:05 - 349 of 349
0 0 0


Po Valley retains Italy assets following mutual termination of Saffron deal
1ST MARCH 2018

BY: MARIAAN WEBB
CREAMER MEDIA SENIOR RESEARCHER AND DEPUTY EDITOR ONLINE


JOHANNESBURG (miningweekly.com) – Australia-based gas producer Po Valley on Thursday announced that it would retain its northern Italy gas assets, after a deal with UK firm Saffron Energy for the sale of Po Valley Operation (PVO) was terminated.

The transaction formed part of a broader three-way commercial deal to create a large European oil and gas business and from which Saffron intends to expand its interests to include South East Asian oil and gas assets.

ASX-listed Po Valley reported on Thursday that the decision to terminate the transaction, announced in January this year, was mutual and followed discussions between the companies' tax advisers and the Australian Taxation Office (ATO).

The sticking point was the 200-million shares in Saffron that Po Valley would receive for its northern Italy operations. Po Valley reported that its tax advisers were of the view that a favourable class ruling to grant demerger relief to Po Valley shareholders would be unlikely for the in-specie distribution of these shares.

Further, BDO Corporate Finance that was tasked with delivering an independent experts report was of the view that the transaction was “neither fair, nor reasonable”, particularly as a result of the independent experts’ valuation of the Selva and Teodorico gasfields.

Po Valley stated that, despite terminating the PVO sale, it remained supportive of the proposed Saffron and Coro transaction and the acquisition of Aim-listed Sound Energy Italy Holdings by Saffron.

Po Valley holds 100-million shares in Saffron and it said that it intended to vote in favour of the other transactions.

EDITED BY: CREAMER MEDIA REPORTER

[steelwatch] 27/2/2018 17:51

#SRON #CORO Saffron Energy plc Further to its announcement of 23 February 2018, Saffron Energy, the pan Euro Asian gas explorer, confirms that it is close to signing an agreement in respect of a substantial change to the transaction in respect of which it expects to make a definitive announcement tomorrow, 28 February 2018.

[steelwatch] 23/2/2018 18:57

The original Admission Doc is linked in the header above the map.

[steelwatch] 23/2/2018 18:54

23 February 2018
Saffron Energy plc
("Saffron Energy" or the "Company")
Temporary Suspension of Trading on AIM
.
On 16 February 2018, Saffron Energy, the pan Euro Asian gas explorer announced that it had published a circular to shareholders comprising an AIM admission document ("AIM Admission Document"), convening a general meeting at which shareholders were invited to approve, inter alia, the proposed acquisitions of SEHIL and PVO and the issue of shares necessary to complete the fundraising announced on 22 January 2018.
The Company is expecting to update investors shortly regarding its South East Asian acquisitions and a fundamental change to an element of the transaction which will likely require the publication of a supplementary AIM admission document. As the Company is not yet in a position to give details of a termination agreement in respect to that element of the transaction that is in the process of negotiation, it has requested a short, temporary suspension of trading in its shares pending announcement of an agreement in respect of that element of the transaction and publication of the Supplementary AIM Admission Document.

A further announcement will be made as soon as possible but in any event, no later than Tuesday 27 February, when the Company intends to update investors on its activities in South East Asia and the proposed acquisitions of SEHIL and PVO.

[steelwatch] 16/2/2018 17:28

Give them time geordy. Early days and CORO will follow the SOU and ECHO team building format.

[geordy2] 16/2/2018 17:08

Re Malcy interview with Sara.

Seems they have a load of management and finance bods, but where is the G & G expertise. Sara talks about Fiona, but I am sure she has her hands full in S America.

So far lots of good words, but very lightweight in technical details.

G2