News & ASX Releases

Daily Drilling Status Report -- Vitalba 1 (Cascina San Pietro Permit)

April 21, 2004

Po Valley Energy (ASX: PVE) reports the current status of the Vitalba 1 well is as
Time of Report: 07:00 hours (Rome Italy Time) 20April 2005
Well Depth: 56.7 m
Current Operation: Spud in
Forward Operations: Drilling ahead 16” hole to approximately 530m

Participants in the Cascina San Pietro Permit: 100% Po Valley Energy subsidiary Northsun Italia S.p.A.(Operator)

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