THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

16 March 2021

Coro Energy plc

("Coro " or the "Company")

Results of Open Offer

Coro Energy plc, the South East Asian energy company focused on supporting the regional transition to a low carbon economy, announces the results of its Open Offer to Qualifying Shareholders, the terms of which were announced by the Company on 26 February 2021.

The Open Offer closed for acceptances, in accordance with its terms, at 11.00 a.m. on 15 March 2021 and  the Company announces that it has received valid acceptances and excess applications for a total of 37,214,632 Open Offer Shares under the Open Offer.

As a result, a total of 37,214,632 Open Offer Shares will be issued in connection with the Open Offer.  All valid applications for Qualifying Shareholders' Open Offer Entitlements and Excess Share applications have been fulfilled in full.

Application has been made for the Open Offer Shares, which will rank pari passu with the Company's issued ordinary shares, to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the Open Offer Shares will commence at 8.00 a.m. on 17 March 2021.

Total Voting Rights

On Admission the Company's enlarged issued ordinary share capital, as enlarged by the issue of the consideration shares to be issued in connection with the Company's acquisition of Global Energy Partnership Limited, the Placing Shares and the Open Offer Shares, will consist of 2,111,622,173 Ordinary Shares in issue. No Ordinary Shares are held in treasury. The figure of 2,111,622,173 Ordinary Shares may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Capitalised terms used but not otherwise defined in this announcement bear the same meanings ascribed to them in the circular of the Company dated 26 February 2021.

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