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Po Valley Energy emerges from transformation with new focus

Po Valley Energy Limited (ASX:PVE) chairman Michael Masterman speaks to Proactive Investors about the company's transformational year, coinciding with the release of Quarterly Reports.

Masterman says, "on the production front it's great to see that production from our gas fields is up nearly 50%, our revenue's up 54%, so that's a very significant testament to the quality of those production assets. The quarter was a great quarter operationally."

Some corporate restructuring was completed in April, with the capitalisation and spinout of Coro Energy. Masterman explains, “we'll be able to put the Coro Energy shares in the hands of our shareholders; they'll get all the upside associated with the Coro development. And meanwhile, and most importantly, Po Valley Energy then becomes a very streamlined, focused company."

 
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Newswire
August 12 2013

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