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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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Thursday March 18, 08:01SmartFocus, Amphion Innovations and National Milk Records confirmed for March 18 Forum

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

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Thursday March 18, 01:14Cisco remains at the forefront of internet infrastructure

The stock has recently managed to breakout above the long term resistance found at the $25 level which should now provide support for any pullback before the share price drives higher

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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.

CLICK HERE FOR FULL ANALYSIS OF PO VALLEY ENERGY
Monday, June 22, 2009

Po Valley Energy clears final Italian regulatory approval for gas production plant

by Proactive Investors company news image

Italian gas company and ASX listed Po Valley Energy (ASX: PVE) is moving closer to maiden gas production from its northern Italy fields.

Final official government approval for the installation of a commercial plant at the Castello project, east of Milan has been received.

Civil works and surface plant installation is now planned to commence on 29 June 2009 and due for completion in October 2009. The rig will be mobilized for drilling of the Sillaro 2 production well.  Sillaro is expected to spud early in July. A drawdown on the Senior facility of the Company’s Bank of Scotland finance will proceed with all conditions satisfied for the bankers to the facility.

Po Valley was understandably excited by the final approval, which "is a milestone “go” decision for production development on both Castello and Sillaro gas fields" said Chief Executive Officer, Mr Michael Masterman. This moves PVE closer to generating cash flows.

PVE won sales contracts with two Italian gas distributors, Elettrogas and Italtrading SpA, for all of the first three years of gas produced at the Castello and Sillaro fields. These contracts are expected to generate up to $A150 million in sales revenue through to September 2012, subject to future gas prices.

Castello has an estimated economic reserve life of around 10-12 years, while the production profile for Sillaro extends between 15-20 years on known reserves.

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