logo-loader
viewPo Valley Energy Limited

Po Valley Energy has gas flows at fourth gas field at Bezzeca-1, Italy

Po Valley Energy has reported positive gas flows during initial clean up and testing of the deepest level in its Bezzecca-1 appraisal gas well in northern Italy.

au_gaspipelineflair350_49e4ffda31be5.jpg

Po Valley Energy (ASX:PVE) has reported positive gas flows during initial clean up and testing of the deepest level in its Bezzecca-1 appraisal gas well in northern Italy.

Testing of Bezzecca-1 included the installation of production equipment on three levels from 1860m to 1950m (measured depth) with a total of 11.5m having been perforated.

Bezzeca-1 is part of Po Valley’s fourth gas field development in the region and located within the Company’s 100% owned Cascina San Pietro permit area east of Milan.

Po Valley’s Chief Executive Officer, Mr Michael Masterman said, “Initial flows were tested at 2.2 million cubic feet per day on a ¼ inch choke at 1760psi during initial clean up and testing of the deepest Miocene level from 1925 to 1945m,”

“The initial flows and pressure were stable with good pressure recovery – results which are above expectations from this level and which are very encouraging pointers for potential field development,” Mr Masterman said.

“These former ENI gas fields present a range of challenges in redevelopment but these initial gas flow and pressure results are a good start for the Bezzecca structure.”

Testing of the deepest Miocene level will continue through this week with short tests to follow next weekend over the Pliocene and shallower Miocene levels.

Po Valley will commission its maiden production at the Castello and Sillaro gas fields in northern Italy from the third quarter this year and is progressing grant of a production concession on a third field, Sant’ Alberto, in the Company’s 100% owned San Vincenzo licence.

Quick facts: Po Valley Energy Limited

Price: 0.038 AUD

ASX:PVE
Market: ASX
Market Cap: $24.6 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Po Valley Energy Limited named herein, including the promotion by the Company of Po Valley Energy Limited in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

2 min read