Coro Energy plc
CORO:LN
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Overview
Company Profile
Coro Energy is a natural gas producer with interests in Northern Italy. Its portfolio includes one gas production (Sillaro), one near-term gas production field (Bezzecca (90%) andan application for a near field (Sant'Alberto), all near Milan and Bologna. These assets are being spun out from Po Valley Energy Ltd ("PVE") (ASX: PVE), an Australian company, and will be now held through Saffron's wholly owned Italian subsidiary, Northsun Italia S.p.A ("NSI").
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Corporate
Board of Directors
James Parsons
Non-Executive Chairman
James has over 20 years’ experience in the fields of strategy, management, finance and corporate development in the energy industry. James has been the Chief Executive Officer of Sound Energy plc since October 2012, having joined as Chief Financial Officer in 2011. James started his career with the Royal Dutch Shell group in 1994 and spent 12 years with Shell working in Brazil, the Dominican Republic, Scandinavia, the Netherlands and London. Following his time at Shell, James worked in the European division of Inter Pipeline Fund, a Toronto-Listed resources business, where he held the position of Finance and Corporate Development Director of Inter Pipeline Europe. James is a qualified accountant and has a BA (Hons) in Business Economics.
Marco Fumagalli
Non-Executive Director
Marco is a director and shareholder of CIP and is a founding partner at Continental Investment Partners SA, a cornerstone investor in AIM quoted Sound Energy plc where he also sits on the board as a Non-executive director. He is also a leading shareholder in Greenberry plc, which is a cornerstone shareholder in Echo Energy, for which he also acts as a Non-executive director. A chartered accountant, Marco has spent most of his career in the Private Equity sector, starting at 3i in 1995. He holds a degree in Business Administration from the University “Bocconi” of Milan.
Fiona MacAulay
Non-Executive Director
Fiona has over 30 years’ experience in the oil and gas industry, most recently as Chief Executive Officer of Echo Energy plc and prior to that as Chief Operating Officer and Technical Director of Rockhopper Exploration plc. Fiona, a Chartered Geologist, started her career with Mobil North Sea Limited in 1985 and has subsequently held senior roles in a number of leading oil and gas firms, including Amerada Hess and BG. She is European President of the American Association of Petroleum Geologists.
Andrew Dennan
Cheif Financial Officer
Andrew has many years' experience unlocking growth across AIM listed companies as a corporate financier and investment manager. Throughout his career he has been involved in stockbroking and asset management in prominent roles, leading proprietary investment decisions, capital raising, risk oversight, and portfolio management. He has worked closely for many years with key members of the newly appointed Board. Andrew brings a wealth of capital markets and corporate transaction experience to the team and is currently a Non-Executive Director of Alpha Growth plc.
Technical Team
Mr Giorgio Bertuzzi
Exploration & New Projects Manager
Dr Bertuzzi has over 30 years of international exploration management experience both in Italy and abroad. From 1993 to 2001 Giorgio was Exploration Project Manager for Eni in the Po Valley area where the main activities were prospects selection and exploratory drilling aimed also at the evaluation of residual hydrocarbon potential in Exploitation Concessions (30 wells, several of them gas and oil discoveries). Dr Bertuzzi led the “Eni Exclusive Area Liberalization” project which consisted of a thorough evaluation of the general Po Valley basin which was carried out to select the acreage deemed potentially suitable for Eni’s Exploration and Exploitation applications. The final results in 1998 was the awarding to Eni of 38 Exploration Permits and 49 Exploitation Concessions and the building of a considerable prospects portfolio. From 2001 to 2003 Giorgio carried out PM Prefeasibility Studies related to exploration discoveries and reassessment of existing gas fields in northern, central and southern Italy and in the Adriatic offshore (Gaggiano, Miglianico, Samperi, Giulia, Fausta, etc.) In the international context Dr Bertuzzi has worked extensively abroad: he was assigned two years in Norway, five years in Tunisia and two years in Australia. From the head office he coordinated exploration activities in West Africa (Congo, Gabon, Senegal) and carried out the evaluation (both technical and economical) of the exploration activity of the Chinguetti oil field in Mauritania. As OCM representative for Eni in the JV led by Woodside (operator) he has been coordinating the final assessment/study that outlined the low potential and risk of the venture. Dr Bertuzzi has also been OCM representative for the exploration activity in Area 4 Block offshore Mozambique (Eni operator). From 2010 to present Dr Bertuzzi is the Exploration and New Ventures manager in Northsun Italia Spa, Italian subsidiary of Coro Energy, coordinating and managing exploration activity, technical/economic evaluation and preparation for farmin/farmout of selected assets, evaluation of potential of new areas in Italy and abroad, technical assistance for the appraisal and development of the production assets.
Leonardo Salvadori
Managing Director, Italy
Dr Salvadori has over 30 years of international exploration, business development and general management experience. Dr Salvadori has worked in Libya and Norway as an explorationist and in Italy with exploration and new ventures roles, focusing on international asset evaluations, portfolio development and corporate acquisitions, with a specific focus on the Middle East, Africa, Asia and North Sea. From 2001 to 2006 Dr Salvadori headed up large exploration departments operated by Eni in Indonesia and Egypt, in both of which he was responsible for several significant successes, including new concessions acquisitions and several discoveries from onshore to deep water. In 2006, he left ENI to join Dana Gas Egypt, where he worked for 9 years covering top managerial roles in exploration, business development and general management delivering outstanding results with 13 discoveries and the acquisition of 3 prolific new exploration blocks in combination with production records and world class asset Integrity management. In November 2015 Dr Salvadori joined Sound Energy, where he achieved a successful new venture activity in Italy and Morocco as Business Development Director and drilled a deep HP well in northern Italy as Managing Director of the Sound Energy Italian business unit.
Dr. Pierre Eliet
Business Development
Dr. Pierre Eliet is an oil & gas executive with over 20 years of experience in the oil industry with a proven track record in organic and inorganic growth projects and business development. Extensive South East Asian and South Asian career experience. Dr Eliet worked with Roc Oil and Lundin Petroleum in senior leadership roles based in Kuala Lumpur, Malaysia. At both Roc Oil and Lundin Dr Eliet had oversight of subsurface projects and growth across both group’s Asian portfolio of assets. Dr Eliet previously worked at TOTAL and Cairn Energy in the United Kingdom and India across a wide variety of assets including the North Sea and Atlantic margin as well as new venture projects. From June 2015 to December 2016 he served as Technical and Business Development Director, SE Asia for Lundin Petroleum and from September 2012 to May 2015 as GM - Exploration, Geoscience & Business Development for Roc Oil & Director ROC Oil Malaysia. While at Cairn Energy he was closely associated with the Cairn Energy flagship and transformational oil discoveries of Mangala, Aishwaryia and Bhagyam in India. Dr Eliet holds a BA in Earth Science from Trinity College in Dublin, Ireland and a PhD in Geology from Manchester University, U.K. Dr Eliet is a Fellow of the Geological Society, London (FGS).