Po Valley Energy (ASX:PVE) non-executive director Michael Masterman has bought 157,000 shares of the company on the market.
He acquired 42,000 shares at $0.08, for a total of $3,360, on 30 June and a further 115,000 shares at $0.10, for a total of $11,500, on 1 July.
This brings Masterman’s total holding up to 33,334,327 shares.
Po Valley was recently awarded a preliminary production concession for the Sant’Alberto gas field in northern Italy.
Sant’Alberto has Best Estimate (2C) Contingent Resources of 2.1 billion cubic feet of gas and could be the company’s fourth producing gas field.
The company is currently in the final approvals stage with two formal signoffs remaining for its Bezzecca gas field.
Upon grant of the Production Concession, expected in the third quarter of 2014, pipeline installation from Bezzecca to the Vitalba plant will commence.
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