Coro Energy resumes production at Bezzecca gas field

Coro Energy announced the resumption of production at the Bezzecca gas field in Italy on Wednesday.

The AIM-traded firm said the well demonstrated strong pressure support, giving good indications for production performance in-line with its previously-announced expectations of around 15,000 standard cubic metres of gas per day.

It said stabilised production rates would be provided after an initial period, to allow the necessary time for gas processing parameters to be adjusted.

“I am delighted to announce that we have brought Bezzecca back into production which, together with the imminent resumption of Sillaro plus the current stable production from Casa Tiberi and Rapagnano, will increase cash flow generation from our Italian portfolio at an opportune time as spot gas prices escalate during the winter months,” said chairman James Parsons.

At 1156 GMT, shares in Coro Energy were down 1.4% at 0.32p.

Reporting by Josh White for Sharecast.com.