News & ASX Releases

Test results confirm gas production potential at Vitalba1dirA

December 16, 2011

Po Valley Energy (ASX:PVE) is pleased to advise successful testing of the Pliocene SAN A2 sand level in Vitalba1dirA well, in the Cascina Castello concession. During clean-up of the well, the flow-rate reached 2.6 million cubic feet/day with a 1/4” choke, stabilising at 1.4 million cubic f…


Vitalba1dirA - Drilling Status Report - 5

December 13, 2011

Po Valley Energy (ASX:PVE) wishes to provide the market its fifth Drilling Status Report for the Vitalba1dirA well in the Cascina Castello concession. Following first evaluation of log results the Company proceeded to case the well, perforate the gas bearing interval and is now preparing to flo…


Po Valley to Complete and Test Vitalba-1dirA Well

December 6, 2011

Po Valley Energy is pleased to confirm that it will proceed to case and complete its Vitalba-1DirA well, located 20 kms from Milan in Northern Italy, following evaluation of log results. Total measured depth of 1,730 was reached (1,524 total vertical depth). Interpretation of log runs identified…


Vitalba1dirA - Drilling Status Report - 4

November 29, 2011

Po Valley Energy (ASX:PVE) wishes to provide the market its fourth Drilling Status Report for the Vitalba1dirA well in the Cascina Castello concession. The planned total depth (“TD”) of the well is approximately 1,750 metres Measured Depth (“MD”). Time of Re…


Vitalba1dirA - Drilling Status Report - 3

November 22, 2011

Po Valley Energy (ASX:PVE) wishes to provide the market its third Drilling Status Report for the Vitalba1dirA well in the Cascina Castello concession. Milling operation ended at 500 metres MD, successfully removing the 7” casing section above the 9”5/8 casing shoe. The planned t…


Vitalba1dirA - Drilling Status Report - 2

November 15, 2011

Po Valley Energy (ASX:PVE) wishes to provide the market its second Drilling Status Report for the Vitalba1dirA well in the Cascina Castello concession. Side track preparation is continuing with a slight time delay due to a change in programme in regards to the removal of the 7” casing. …


Vitalba1dirA - Drilling Status Report

November 8, 2011

Po Valley Energy (ASX:PVE) is pleased to provide the market with the first Drilling Status Report for the Vitalba1dirA well in the Cascina Castello concession. The planned total depth (“TD”) of the well is approximately 1,750 metres Measured Depth (“MD”) and is expected…


Po Valley Energy starts workover activity at Vitalba-1dirA well

October 31, 2011

Po Valley Energy Limited (ASX:PVE), is pleased to announce workover activities have started at its Vitalba 1dirA well. Vitalba-1dirA is located in the Castello permit, northern Italy. Workover operations are expected to take 20 days to reach target total vertical depth of 1,400 metres. The Compa…


Vitalba 1dirA well - Mobilisation of the rig commenced

October 24, 2011

Po Valley Energy Limited (ASX:PVE) is pleased to advise the market that the drilling contractor has commenced the mobilisation of the hydraulic rig HH200 to the Castello permit to drill the Vitalba1dirA well. The well is expected to spud within month’s end. The workover is estimated to tak…


Po Valley Energy - New Investor Presentation

September 7, 2011

Po Valley Energy (ASX:PVE) wishes to inform shareholders and the market that a copy of the presentation which was presented by PVE’s CEO, Mr Giovanni Catalano, at the Good Oil Conference in Perth yesterday is now available on the Company website (www.povalley.com). CONTACTS: Giovanni Cat…


PO Valley Posts Maiden Half-Year Profit

September 5, 2011

Half-year highlights Revenue of €4.35 million (AUD 5.9m), up from €2.59 million (AUD 3.5m) EBITDA of €2.26m (AUD 3.0m) Net profit of €0.37 million (AUD 0.5m) Cash and cash equivalents of €1.6m (AUD 2.2m), up from €1m (AUD 1.3m) Vitalba development well on schedule Sillaro gas field res…


Vitalba 1dirA Well - Preparation Work Started

August 22, 2011

Po Valley Energy Limited (ASX:PVE) is pleased to announce that civil work for the drilling of the Vitalba 1dirA well has started. The deviated well is a critical step in the Company’s plan to recommence production at the Castello gas field. The Company has contracted LP Drilling Srl for i…


Po Valley Reports Steady Gas Production in June Quarter; Sillaro Completes First Year of Production; and Reserves Confirmed

July 28, 2011

Key Points: June quarter gas production steady at 7.7 million cubic metres (273 million cubic feet) Sillaro gas field completes first year of production and reserves confirmed Po Valley Energy Ltd. (ASX:PVE) said gas production for the June quarter was steady at 7.7 million cubic metres (273 millio…


June Quarter Production Report

July 15, 2011

Po Valley Energy Limited (ASX:PVE) is pleased to provide the market with an update on production volumes and revenue for the June quarter 2011: June quarter production was 7.72 million cubic metres (273 million cubic feet), with the Sillaro field contributing 7.43 million cubic metres (262 m…


Vitalba Drilling Approval and Rig Contract

April 18, 2011

Po Valley Energy Limited (ASX:PVE) is pleased to announce that Italian energy authorities have granted the final approval for the drilling of Vitalba-1dirA, the deviated well that is a critical step in the Company’s plans to recommence production at the Castello gas field and that the Com…


Stable gas production and increased revenues for Po Valley’s 1Q 2011

April 14, 2011

Po Valley Energy Limited (ASX: “PVE”) started 2011 with stable gas production and strong revenue generation during the first quarter. Starting from October 1, 2010 the Company entered into its first gas thermal year (from 1 October 2010 to 30 September 2011) with a committed daily ga…


Po Valley Energy 2010 Financial Report

March 16, 2011

Po Valley Energy (ASX:PVE) is pleased to announce the lodgment of its Financial Report for the year ended 31 December 2010. These results reflect the solid progress of the Company, which achieved its first full production and operating cash flow year. Highlights The Company’s 2010 full year …


Po Valley Awarded 2 New Gas Exploration Licences in Italy

February 22, 2011

Po Valley Energy Limited (ASX:PVE) has achieved a 38% increase in the area of its gas exploration rights in northern Italy - including licences located in one of the country’s former largest onshore gas fields in the Po Valley. The Company announced today it has been awarded two adjacent…


Po Valley Commences 2D Seismic Campaign to Progress Two Gas Projects Near Bologna

February 14, 2011

Two new seismic campaigns have been initiated by ASX-listed Po Valley Energy Limited (ASX: “PVE”) to progress exploration and development of two of its gas projects near Bologna, in northern Italy. Po Valley announced today it had commenced acquisition of a 2D land geophysical surve…


Gas Producer Po Valley Energy Reduces Debt

January 12, 2011

Improved gas revenue streams have enabled Po Valley Energy Limited (ASX: “PVE”) to reduce by 15% its current debt with the Bank of Scotland (BoS), while separately, also securing an increased borrowing limit. The reduced debt level improves the overall balance sheet of the Company wh…


Stronger December half year gas production for Po Valley

January 10, 2011

Po Valley Energy Limited (ASX: “PVE”) lifted gas production 69% from its north Italy gas fields in the six months to 31 December 2010 and backed the improved performance with a significant lift in revenue. The Company — which reports on a calendar year basis - today reported t…