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Coro Energy narrows losses on strong gas prices
(Sharecast News) - London-listed energy producer Coro Energy on Friday reported a narrowing of first-half losses, driven by a booming market for gas. The company reported a net loss for the six-months to June 30 of $888,000, compared with a loss of $3.6m a year earlier.
Revenue rose to $2.6m from $263,000. Coro said the strengthening of commodity prices in the first half of 2022 "has presented a significant opportunity" with the re-valuation of the Italian Portfolio alongside a significant uplift in the core net asset value of the flagship Duyung PSC in Indonesia.
Reporting by Frank Prenesti at Sharecast.com
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