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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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Monday March 15, 10:21Diamondcorp: a big cash injection and a lot of work to do

70% of the new money was raised from current shareholders, reflecting a hefty amount of faith in the management to deliver.

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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.

CLICK HERE FOR FULL ANALYSIS OF PO VALLEY ENERGY
Friday, January 22, 2010

Po Valley Energy focuses on Italian gas plant during quarter

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Emerging gas and oil company Po Valley Energy (ASX:PVE) has updated the market on key activities during the quarter, including achieving its first gas production from the Castello gas plant in Italy.

A milestone for the Company, which puts into production the first new hydro-carbon production plant in northern Italy’s Po Valley region since the end of the county’s energy monopoly by ENI-AGIP, in 1998.

The Company remains on track to commence commissioning its second gas production field, Sillaro, which is proceeding close to development schedule.

Bezzecca was also successfully drilled and tested on three gas bearing levels earlier in 2009. A development evaluation is underway.

Castello plant production operation commenced on 17th December 2009 after receiving final approval from the Ministry of Economic Development on safety documen-tation. Production in 2009 was 630,000 cubic metres.

Shares in the company increased 0.5c to $1.62 during the morning trade.

Meanwhile, commissioning is scheduled at Sillaro for February, while the production plant is 87% complete although extreme cold weather conditions in Northern Europe is causing some delay to site activities.

The Bezzecca development plan options is under consideration and the Sant’Alberto/ San Vincenzo seismic is planned in Q1 2010.

Po Valley also plans to drill 3-4 wells over the next 18 months. Environmental approval is in place for Fantuzza, with drilling planned for mid 2010.

Expressions of interest for Fantuzza farm-in have been received and plans for Gradizza, Cembalina and Correggio are progressing.

Geological/geophysical work is underway on the Grattasasso and Cadelbosco di Sopra licences.

 

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