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Po Valley Energy is a leading independent Oil and Gas enterprise growing rapidly from quiet, results-driven beginnings. The Company currently operates exclusively in northern Italy exploiting the large hydrocarbon system, and it is on the verge of becoming a significant gas producer in the fast-growing and under-supplied Italian market as it brings its first fields into production - with more to come.
All of the Po Valley Energy's fields are in very close proximity to the pipeline grid and major consumers in the north of Italy.
Po Valley Energy, through its subsidiaries Northsun Italia S.p.A and Po Valley Operations Pty Ltd holds 11 licence areas, 2 of which, Sillaro and Castello, were awarded the production concessions in November 2008, and 130.4 bcf of 3P gas reserves. The Po Valley region, between the Alps and the Apennines, is the main gas production zone in Italy and has produced more gas than Australia's Northwest shelf. Italian gas prices are high by world standards, transportation costs are negligible and capital costs are very low resulting in highly attractive development economics. The Company Listed on the Australian Stock Exchange on 14 December 2004.
Having operated in Italy for 10 years the Company is experienced in Italy's regulatory process and has successfully managed each stage over a lengthy period. The Company's presence in Italy and local management team represents significant competitive advantage not enjoyed by newer entrants seeking to find success in the Italian market.
The Company has continued to grow its portfolio of assets at a very low cost relative to other oil and gas companies, providing the basis for future shareholder value creation. Italy remains an attractive market with gas and oil being of high quality, an accessible and low cost transportation network and a pricing environment that has been stable and higher than other comparable European countries.
Strategically, therefore, the Company is well positioned for accelerating and sustaining growth.
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