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Additional information
Additional Information
Market: ASX
Sector: Oil and Gas Exploration and Production
Epic: PVE
News: Latest news
Web Site: Po Valley Energy
Other Articles: 13-01-201021-12-200908-12-2009

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Tuesday March 16, 09:00Mercator Gold raises £422,500 through placing

The company has placed shares with institutional and ultra high net worth investors, and the proceeds will allow it to develop existing projects and pursue new projects of merit

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Monday March 15, 11:38Calvin Klein owner buys Tommy Hilfiger for US$3 billion from Apax Partners

The New York listed shirt and neckwear company is paying €1.924 billion in cash and issuing €276 million in PVH common stock (approximately 8.7 million shares) to fund the transaction.

 

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Po Valley Energy

Po Valley Energy

Po Valley Energy (ASX:PVE) is a leading independent gas company growing rapidly from quiet, results-driven beginnings. The Company currently operates exclusively in northern Italy exploiting the large hydrocarbon system, and it is on the verge of becoming a significant gas producer in the fast-growing and under-supplied Italian market as it brings its first fields into production.  

Po Valley's surface gas production plant at Castello in northern Italy has now been connected to the Italian pipeline grid. Under Po Valley’s gas marketing contracts gas from the Castello field will be metered and sold at the corner of the Castello site, implying no transportation costs and higher profit margin as a result.

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Tuesday, April 21, 2009

Po Valley Energy has strong gas flow rates at Bezzecca #1 well, Italy

by Proactive Investors company news image

Po Valley Energy (“PVE”) has advised of strong flow rates with rapid pressure recoveries have been reported after the successful completion of all production tests at its Bezzecca #1 appraisal well in northern Italy.

Po Valley’s Chief Executive Officer, Mr Michael Masterman, said today, “We have successfully tested all three levels in Bezzecca #1. Each of the tests delivered stabilized gas flows and rapid pressure recovery.

As a result, we have generated a combined flow of 3.75 million cubic feet per day from this test program.” Mr Masterman said.

The results of 10 days of testing on three levels at Bezzecca #1 – deep Miocene, shallow Miocene and the Pliocene were as follows:

Initial flow from the deep Miocene level from 1925m to 1945m was 2.2 million cubic feet per day on a ¼ inch choke at a pressure of 1760 psi. The tested flows stabilized and exhibited rapid and full pressure recovery. A relatively small perforated zone in the shallow Miocene from 1913m to 1916m tested at 0.55 million cubic feet per day on a ¼ inch choke.

The flow was stable and pressure recovery was rapid. The Pliocene level between 1862m and 1863m also produced better than expected gas flows. In Bezzecca, the Pliocene gas bearing levels are in thin zones above the main Miocene target. The Pliocene level flowed at a stabilized rate of 1.0 million cubic feet per day on a 3/16 inch choke with good pressure recovery.

Michael Masterman said, “There are additional levels identified in nearby wells and potentially present in Bezzecca #1 that will be investigated in subsequent work. This work, together with the encouraging results from the testing program, will provide an initial assessment of the size, nature and scope of a Bezzecca development.”

The rig used in the Bezzecca appraisal schedule has been released and will move to another well prior to mobilisation to Po Valley’s Sillaro field to drill Sillaro#2.

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