Po Valley Energy Limited

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Po Valley Energy Limited (PVE) is an emerging Oil & Gas exploration and development Company with an expanding portfolio of hydrocarbon assets in northern Italy.


Po Valley Energy Limited (PVE) is an Oil & Gas exploration and development company with a portfolio of hydrocarbon assets in northern Italy.

PVE has threee large gas and oil assets - Offshore Teodorico and onshore Selva gas developments, and thelarge Torre del Moro oil/gas condensate exploration play.

d40A.C-.PY (Teodorico)

The Teodorico project (formally d40 PY AC) is located in the shallow waters of the Adriatic Sea (offshore from the Emilia Romagna region) and contains two connected gas discoveries, Carola and Irma, both drilled and tested by the former operator ENI. The offshore gas project was renamed Teodorico. (Theoderic the Great was king of the Germanic Ostrogoths and ruler of Italy between 493 and 526).

The exploration permit was awarded to the Company in July 2012 and subsequently the Company selected 120 sq km of 3D seismic and well dataset for purchase from ENI.

(click here for more information on this project)

P.Gallina (Selva)

The Podere Gallina licence measures 331 km2 and it is situated in the eastern part of the Po Plain, south of the Po Delta, among the Ferrara and Bologna provinces, in the Emilia Romagna Region. The exploration licence licence was awarded in 2008.

During 2012, the Company carried out the Geological and Geophysical work to assess the Selva residual gas potential and the technical team identified a new low risk prospect named "Selva Stratigraphic” and a second exploration target (East Selva) on the pinch out edge to the east of the main Selva field.

(click here for more information on this project)


Last updated 2nd May 2019

Michael Masterman

Michael is a co-founder of PVE. Michael took up the position of Executive Chairman and CEO of PVE and Northsun Italia S.p.A. in 2002 and resigned in October 2010 to take on an Executive role with Fortescue Metals Group Limited. Prior to joining PVE he was CFO and Executive Director of Anaconda Nickel (now Minara Resources). Michael oversaw the financing of the US$1 billion Murrin Murrin Nickel and Cobalt project in Western Australia, involving the negotiation of a US$220m joint venture agreement with Glencore International and the raising of US$420m in project finance from a US capital markets issue - the first of its kind for a green fields mining project. Prior to joining Anaconda Nickel, he spent 8 years at McKinsey & Company serving major international resources companies principally in the area of strategy and development. He is also Chairman of W Resources Plc, an AIM listed company with tungsten and gold assets in Spain and Portugal. Mr. Masterman became a member of the Remuneration & Nomination Committee from 1 January 2011.

Byron Pirola
Non Executive Director

Byron is a co-founder ofPVE and is based in Sydney. He is currently a Director of Port Jackson Partners Limited, a Sydney based strategy management consulting firm. Prior to joining Port Jackson Partners in 1992, Byron spent six years with McKinsey & Company working out of the Sydney, New York and London Offices and across the Asian Region. He has extensive experience in advising CEOs and boards of both large public and small developing companies across a wide range of industries and geographies. Byron is Chairman of the Audit and Risk Committee and member of the Remuneration and Nominations Committee.

Kevin Bailey
Non-Executive Director

Kevin was appointed as a director on 22 April 2016. He has been a shareholder of the Company since April 2008 and brings significant business acumen and experience to the Board. Mr Bailey is a highly successful businessman with a range of business interests, both local and overseas. He worked for 28 years as a Certified Financial Planner and was a founding director of the Shadforth Financial Group Limited. Until recently he was a member of the Prime Minister’s Community Business Partnership and devotes considerable time to philanthropic interests. In the 2017 Australia Day Honours he was made a member of the Order of Australia for significant service to Australia-Timor Leste relations, to philanthropic organisations, to the financial planning sector, and to the community.


Mr Giorgio Bertuzzi
Exploration & New Projects Manager

Giorgio has 31 years experience with ENI /Agip, covering many diverse roles: Exploration Manager in northern Italy, Prefeasibility Studies Manager, in Italy; Exploration, Planning and Control in Western and Eastern Africa.

Gianluca De Rosa
Senior geophysicist & team leader

Gianluca joined the Company in 2008. He has over 18 years experience in the oil and gas industry. Formerly employed for 10 years at Eni in the exploration department, Gianluca acquired a very good knowledge of all frameworks of upstream activities, working on onshore/offshore, gas and deep oil prospects.


Last updated 2nd May 2019

Australian Administrative Office

Suite 8, 7 The Esplanade
Mt Pleasant WA 6153

Australia Tel: +61 (08) 9316 9100
Fax: +61 (08) 9315 5475
Email: info@povalley.com

Italian Operational Office

Via Francesco Crispi 90
00187 Roma Italy
Tel: +39 06 42014968
Fax: +39 06 48905824

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