Coro Energy Share Discussion Threads

[lazarus2010] 04/4/2022 12:59

thanks for the link

[pavey ark] 04/4/2022 12:54

Yes that's it....thanks for that as I couldn't seem to find it again !!

It does make for some rather good reading and would surely make anyone selling at today's price think again......but it is AIM !!

[blueblood] 04/4/2022 12:38

Do you have a link?

[pavey ark] 04/4/2022 12:37

blueblood , just noticed you post 1719....Align did a fairly detailed update 7th March (the day of the announcement)

Detailed and very good reading ...very positive for Italian gas.

Even suggesting 80k scmd !!!!

If any current holder hasn't read it they certainly should.

[buzzzzzzzz] 04/4/2022 12:31

PV is a sideshow.

It's all about GAS!!!!!

[digger2779] 04/4/2022 11:36

Ride D - yeah, the half penny has dropped. We now want the other half which hopefully wont be too far behind.

[allinforabigprofit] 04/4/2022 11:13

Wow, a whole half a pence worth a share. Now require some solar PV action? Where is this PV farm on a roof? Get the clean tech division moving and a whole penny a share is definitely possible.

[grannyboy] 04/4/2022 09:54

Looking like .75 next test, unless the GSA update comes in first, then it's into pennies!!

[ride daice] 04/4/2022 09:26

I think the penny is starting to drop.

[currypasty] 04/4/2022 08:38

looking like getting ready to beak .50

[pavey ark] 04/4/2022 08:35

They have two substantial gas plays more or less ready to go...Sant'Alberto and Bezzeca.

Looking at the reports it looks like both of these need some money spent on them....not a lot but more than Coro was prepared to spend at the time.

It seems all the approvals were in place and I doubt if the authorities are going to find objections now given the need for gas.

Figures of 1 million Euro for Sant'Alberto drilling were mentioned but even with a bit on top of that makes this look a very good prospect.

Bezzeca was closed in pending the work.....that wasn't done.

Sant'Alberto and Bezzeca combined look like producing anything from 30k scmd to 50k scmd .

Coro claim to have six producing assets but I haven't looked further as these seem to be the main ones.

[blueblood] 03/4/2022 10:28

Be great to get updated research note from Align. We were basically giving Italian portfolio away in 2020 at bottom of cycle but now in this super cycle it must be worth maybe 30-40 times this at around €9-€12m?

[pavey ark] 02/4/2022 19:11

I take it that this development drilling didn't take place but the gas is still there and there seems to be quite a lot.

"Detailed planning for the Bezzecca-2 drilling programme is underway to exploit remaining proved and probable reserves in the field. In accordance with Italian regulations, the Company will be initiating the review process of the Bezzecca-2 programme with UNMIG, the technical office of the Department of Mining and Natural Resources. As envisaged by the latest Competent Persons Report, production from Bezzecca in 2018 is expected to be limited. Production has exceeded forecasts so far this year and is currently producing at circa 10,000 Mcf per day however it is unlikely that this field will provide a material contribution during the remainder of the year. The field may be shut in ahead of the planned further development drilling."

May 2018

Just how much is this Italian gas worth !!??

[ride daice] 02/4/2022 17:17

Parsons Parrot ?

[pavey ark] 02/4/2022 16:58

I think those figures reflect the very good deal that Coro got at the time rather than the value now.

If we look at the european price that people talk about ...$1/scm the figures above come out at $0.0121/scm.....clearly times and the price of gas have moved on !!

(I can't see gas in ground at 1/82 of gas above ground )

Whilst on the subject I continue to find the Italian deal just about the most bizarre I have ever come across.

The Sillaro field comes on at 17k scmd.........!!!???

I make this c. 100 boed

Having had shares in PMG I am familiar with the Dutch TTF prices so using that and the conversion of 1.7 times for boed to euro/MWhr....which is the pricing unit for TTF...I get:-

100 x 1.7 x 110 = 17k euro/day or over 500k euros a month ....from just one field.
(obviously the gas price bounces about from day to day but currently about 110 euro/MWhr)

As we know the price of gas (unlike oil) varies greatly from country to country but the Italian price should be close to the Dutch TTF price.

Considering that these Italian gas fields had almost no value (£300K total) the company is now looking at 5 million euro free cash flow from just two fields.
The Sant'Alberto field has been drilled and proven and just waiting for a two well (one million euro) development that could produce another 20k scmd.


Coro tried to punt a loss making, cash hungry gas business when the prices were rock bottom.....prices rocket but the Italian authorities don't sanction the sale ........deal falls through......bingo !!!

"who's a lucky boy then ??!!"

[mrzippo] 02/4/2022 12:07

Coros original farmin deal valued gas in ground at $0.34 per mcf or $340k per Bcf

[buzzzzzzzz] 01/4/2022 15:38

Oil is valued at $5 a barrel in the ground what is 1 Bcf worth in the ground?

[ride daice] 01/4/2022 14:27

Well it seemed a bit of a no brainer not to double down given that they've found a profitable Italian gas business down the back of the sofa.

[rafboy] 01/4/2022 13:59

Some decent buys, nice one folks.

[ride daice] 01/4/2022 13:42

And I've done another 1.2M.

[10owen] 01/4/2022 13:36

Well done that Man.

[man1] 01/4/2022 13:30

Took 2 mil just after 1 , so should show later. Can't be many left now before she blows ...

[grannyboy] 01/4/2022 13:21

👷 💷💷