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Po Valley Energy non-executive director Byron Pirol resigns but will remain strong core shareholder

The company has begun development and preliminary work at the Selva gas field onshore Italy to prepare the field for gas production in 2020.

Po Valley Energy Limited - Po Valley Energy non-executive director Byron Pirol resigns, remains strong core shareholder
Final environmental approval is expected for the offshore Teodorica gas field soon

Po Valley Energy Ltd (ASX:PVE) is pleased that Dr Byron Pirola will continue as a strong core shareholder of the company following his resignation as a non-executive director.

Pirola has decided to step down from the oil and gas development company's board to pursue other business interests.

Described a “fantastic" director

Chairman Michael Masterman said: "Byron has been a fantastic non-executive director contributing to the strategic and financial direction of the company and maintaining a strong shareholding investment.

"We will miss Byron from the board but are very pleased he plans to continue as a strong core shareholder.”

“Strong position with two important assets”

Pirola said: “Following many years on the board of directors, I am pleased to leave PVE in a strong position with two important assets, Selva and Teodorico, nearing formal awarding of their final production concessions.

"While my increasing business demands mean I am unable to continue to give my board duties the attention they require, in resigning from the board I remain a strong supportive shareholder of the company and look forward to its ongoing progress.”

Quick facts: Po Valley Energy Limited

Price: 0.038 AUD

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