SRON Saffron Eng

TIDMSRON

RNS Number : 2216J

Saffron Energy PLC

27 June 2017

27 June 2017

Saffron Energy Plc

("Saffron" or "Saffron Energy" or the "Company")

Sant'Alberto Update

Saffron Energy plc (AIM: SRON), the natural gas producer with interests in northern Italy, is pleased to provide an update on the development of its Sant'Alberto licence application.

The Company continues to make good progress in its application for a full production concession. It is currently awaiting the granting of an Intesa (agreement) from the Emilia Romagna regional government, following which the Ministry of Economic Development in Rome will issue the production concession. Saffron had originally anticipated that the Intesa and the production concession would have been granted by the end of the first half of 2017. The Company now anticipates that this will have been achieved by Q3 2017. Development of Sant'Alberto will follow the grant of the production concession and first gas is now expected in or around Q1 2018.

Saffron looks forward to providing a further update as soon as the Intesa has been granted.

About Saffron Energy PLC

Saffron Energy is a natural gas producer with interests in Northern Italy. Its portfolio includes two gas production fields (Sillaro) and (Bezzecca (90%)) and an application for a near-term gas production field (Sant'Alberto), all near Milan and Bologna. Saffron Energy commenced trading on the London AIM Market under the ticker of SRON on 24 February 2017.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For more information, please visit www.saffronenergy.co.uk or contact the following:

 
 Saffron Energy plc                  +44 (0) 7791288381 
 Michael Masterman, CEO              info@saffronenergy.co.uk 
 
 Grant Thornton UK LLP (Financial    +44 (0) 207 383 
  & Nominated Adviser)                5100 
 Colin Aaronson 
 Samantha Harrison 
 Harrison J Clarke 
 
 Turner Pope Investments (TPI) 
  Ltd (Broker)                       +44 (0)2036214120 
 Ben Turner                          info@turnerpope.com 
 James Pope 
 
 Cassiopeia Services (PR/IR)         +44 (0) 7949690338 
 Stefania Barbaglio                  Stefania@cassiopeia-ltd.com 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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