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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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Saturday March 13, 08:47Premium risk at Prudential

Insurance giant Prudential has stolen the headlines this week, after their decision to buy AIA, the Asian life business of US insurer AIG, has attracted a mixed response from shareholders.

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Friday March 12, 07:58Lithium and rare earths markets poised for growth

Right now, the world relies almost completely on China for its rare-earth supply. The Chinese have made it clear that they want to keep more supply for themselves as they try to be the world leader in green technology

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Friday March 12, 07:51White Energy enters coal deal with China Guodian Group

White Energy Company (ASX: WEC; OTCQX: WECFY) has inked a non-binding heads of agreement with state owned Guodian Inner Mongolian Energy Sources Co Limited to develop a coal upgrading [...]

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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.

CLICK HERE FOR FULL ANALYSIS OF PO VALLEY ENERGY
Friday, May 01, 2009

Po Valley Energy inches closer to gas production in Italy

by Proactive Investors company news image

Po Valley Energy Ltd (ASX:PVE) has had its most successful quarter to date, with exploration and development success and expanding its portfolio of hydrocarbon assets in Italy.

The Company is on the verge of becoming a gas producer in the under-supplied Italian market as it brings its first fields into production – with additional fields brought on-stream. PVE is on track to connect its first production wells to Italy’s national pipeline grid during 2009.

Low production costs, easy connection to an extensive pipeline grid and the historically strong price for gas in Italy intersect to paint an attractive reward profile for PVE’s investors.

March Quarter Highlights

Sillaro and Castello fields

- Sales contracts valued in total at A$150 million, in place over three years
- Full regional approvals issued for Sillaro-2, Sillaro and Castello production installations
- Final approvals to drill Sillaro-2 – Drilling to commence late in June

Bezzecca field

- Bezzecca-1 successfully drilled and tested
- Combined 3.9 million cubic feet per day flow rate
- Evaluation of commercial development potential underway

New Exploration Licences

- Final award of Podere Gallina licence
- Preliminary award of Grattasasso licence
- Gradizza to proceed forward to drilling application

Market Conditions

Italian gas market (Euro-denominated) prices eased from €0.36 per cubic metre at end of December to €0.29 at 31 March.

Corporate

- Drawdown on €20 million Bank of Scotland facility at 31 March was €5.0 million
- Completed A$10 million capital raising
- Cash at bank at 31 March A$10.6 million

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