News & ASX Releases

Daily Drilling Status Report

July 13, 2009

Sillaro#2dir (Sillaro Production Concession)

Po Valley Energy (PVE) reports the current status of the Sillaro#2dir well is as follows:

Time of Report:16:00 hours (Rome Italy Time)
Well Depth:TVD1 m 1202 - MD2 1276 m
Current Operation:Circulation and wiper trip, preparing for casing
Forward Operation:Casing 9” 5/8 and cementing

Participants in the Sillaro Production Concession:
100% Po Valley Energy subsidiary Northsun Italia S.p.A.(65% -Operator)and PoValley Operations (35%).

Notes: 1True Vertical Depth - 2Measured Depth

For further information please contact :
Po Valley Energy Administrative Office, Mr. Michael Masterman (Chief Executive Officer)
Ph: +39 06 4201 4968 Cell: +39 333 1961 061 Fax: +39 4239 1900

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