Source - SMW
Upstream oil and gas company Coro Energy reported wider losses on higher costs. 

For the year ended 31 December 2019, pre-tax losses widened to $16.6m from $13.4m on-year, driven by corporate costs including ongoing business development activities in South East Asia, as well as interest charges relating to the group's Eurobond, the company said. 

Post year-end, the Covid-19 pandemic had resulted in a 'sudden and significant' worsening in the investment climate and the wider economy, with the situation in oil and gas markets further worsened by a dispute between Russia and Saudi Arabia, the company said.
 
'These events have only made the task tougher for E&P companies, but the board continues to believe in Coro's long term prospects and the now proven quality of its Mako asset, as well as its ability to add further opportunities to the portfolio when macro conditions improve,' it added.




At 9:49am: (LON:CORO) Coro Energy Plc Ord 0.1p share price was 0p at 0.43p



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