Description
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.
Share Price
In-depth Po Valley Energy Proactive Investors Articles
- 13/01/2010 Po Valley celebrates maiden production of one million cubic metres of gas in Italy
- 18/08/2009 Po Valley Energy tests Sillaro gas field, adds new production capacity
- 13/08/2009 Po Valley Energy confirms gas production capacity at Sillaro-2 production well
- 22/06/2009 Po Valley Energy clears final Italian regulatory approval for gas production plant
- 01/05/2009 Po Valley Energy inches closer to gas production in Italy
Recent Po Valley Energy news
- 22/01/2010 Po Valley Energy focuses on Italian gas plant during quarter
- 21/12/2009 Po Valley banks first revenue as maiden gas flows into Northern Italian energy grid
- 08/12/2009 Po Valley Energy receives final authorisation for Castello gas production plant
- 18/11/2009 Po Valley Energy closes SPP, raising A$2m
- 17/11/2009 Platypus Asset Management acquires 5.02% of Po Valley Energy
Related Media
Presentations & Company Media
Related Research & Media
No Documents available.
Company Statement:
Po Valley Energy, through its subsidiaries Northsun Italia S.p.A and Po Valley Operations Pty Ltd holds 11 licence areas, 2 of which, Sillaro and Castello, were awarded the production concessions in November 2008, and 130.4 bcf of 3P gas reserves. The Po Valley region, between the Alps and the Apennines, is the main gas production zone in Italy and has produced more gas than Australia's Northwest shelf. Italian gas prices are high by world standards, transportation costs are negligible and capital costs are very low resulting in highly attractive development economics. The Company Listed on the Australian Stock Exchange on 14 December 2004.
Having operated in Italy for 10 years the Company is experienced in Italy's regulatory process and has successfully managed each stage over a lengthy period. The Company's presence in Italy and local management team represents significant competitive advantage not enjoyed by newer entrants seeking to find success in the Italian market.
The Company has continued to grow its portfolio of assets at a very low cost relative to other oil and gas companies, providing the basis for future shareholder value creation. Italy remains an attractive market with gas and oil being of high quality, an accessible and low cost transportation network and a pricing environment that has been stable and higher than other comparable European countries.
Strategically, therefore, the Company is well positioned for accelerating and sustaining growth.
Current Operations:
Sillaro
Sillaro in the Crocetta licence area is the Company's largest natural gasfield discovered to date. The field was explored under the former ownership of ENI between 1955 and 1982 with seven wells drilled. The field contains gas bearing zones in the Pliocene at around 2.200m and the Miocene at around 2,600m. (Read More)
Castello
The field was drilled in 2005 on an updip from the former ENI Agnadello 1 well, which produced 13bcf of gas over a period of five years in the 1980s. The Castello gas field, formerly known as Vitalba, was successfully tested at two gas bearing levels in early 2006. Flow rate testing of San A1 and San A2 produced higher than expected flows of 2.8 million cubic feet per day on a ¼" choke. Field development will be based on a one well development connected to the grid some 500 meters away. (Read More)
S. Alberto
Sant' Alberto is the third field in the portfolio to process towards commercial gas production. Edison, the former operator, submitted the production concession application in July 2006 and the Ministry requested more information to support the application process during 2007. (Read More)
Bezzecca
Bezzecca is the Company's fourth development field. The field, formerly called Pandino, was drilled in the 1950's by ENI and produced 5bcf of gas. In 2006 some 50 km of seismic data was purchased and a review of the size and structure of Bezzecca completed. (Read More)
Fantuzza
Fantuzza is a deeper structure of Sillaro; the well is located with the task to exploit a deeper Miocene structure. 50km of seismic data was purchased during 2006 and reviewed to confirm the size and structure of the Miocene target and a drill location has been selected. (Read More)
Read about Po Valley's New Projects HERE
Management
Board of Directors
Graham Bradley BA, LLB (Hons), LLM, FAICD - Chairman
Michael Masterman BEcHons - Managing Director and CEO
David McEvoy BSc, Grad Diploma (Appl. Geophysics)- Non Exec Director
Byron Pirola BSc, PhD - Non Executive Director
For more information on Po Valley's Board of Directors click HERE
For information on Po Valley's Management click HERE
Major Shareholders
| Rank | Investor | Holding | % Issued Capital | |
| 1 | MICHAEL MASTERMAN | 21,831,137 | 23.06% | |
| 2 | COGENT NOMINEES PTY LIMITED | 17,025,100 | 17.98% | |
| 3 | CITICORP NOMINEES PTY LIMITED | 15,072,858 | 15.92% | |
| 4 | JOAN MASTERMAN | 4,788,444 | 5.06% | |
| 5 | EQUITY TRUSTEES LIMITED |
3,884,741 | 4.10% | |
| 6 | NATIONAL NOMINEES LIMITED | 3,571,731 | 3.77% | |
| 7 | BERONIA INVESTMENTS PTY LTD C/- PORT JACKSON PARTNERS |
2,871,721 | 3.03% | |
| 8 | BERONIA FS PTY LTD |
1,680,000 | 1.77% | |
| 9 | MR ROY RIGOTTI |
1,588,000 | 1.68% | |
| 10 | BERONIA FS PTY LTD |
1,550,240 | 1.64% | |
| 11 | HSBC CUSTODY NOMINEES | 1,488,386 | 1.57% | |
| 12 | ZERO NOMINEES PTY LTD | 1,298,600 | 1.37% | |
| 13 | MR KENNETH CHARLES AMBRECHT | 1,224,649 | 1.29% | |
| 14 | BOND STREET CUSTODIANS LIMITED |
1,105,170 | 1.17% | |
| 15 | BERONIA INVESTMENTS PTY LTD |
1,076,202 | 1.14% | |
| 16 | HOLLY GIBSON | 760,000 | 0.80% | |
| 17 | GRAHAM BRADLEY | 573,981 | 0.61% | |
| 18 | HSBC CUSTODY NOMINEES | 535,967 | 0.57% | |
| 19 | ARCI PTY LIMITED | 525,000 | 0.55% | |
| 20 | ANZ NOMINEES LIMITED |
506,415 | 0.53% | |
| TOTAL FOR TOP 20: | 82,958,342 | 87.63% | ||
Contact Information
Australian Administrative Office
Level 28, 140 St. George's Tce
Perth WA Australia 6000
Phone: +61 8 9278 2533
Fax: +61 8 9278 2525
email : info@povalley.com.
Corporate Information
Share Registry
For queries regarding shareholder details, change of address notifications and tax file number advice, please contact the share registry at:
Link Market Services Limited
Level 4, 80 Stirling St
Perth WA Australia 6000
Phone: +612 82807111
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