September 12, 2013
Po Valley Energy Limited (ASX: PVE) has completed initial testing of the Quaternary gas bearing level of the Gradizza-1 well.
During the production test, the flow rate stabilised at 247,000 standard
cubic feet/day (~7,000 standard cubic metres/day) with a 3/16” choke.
Well pressure recovered quickly throughout the testing period.
The well has been single completed with a gravel pack. Although no
formation water was associated with gas production during the test, the
clean-up process is not complete. The flow rate is expected to improve
once clean-up is achieved.
The Company will take the next few months to review the data and
consider rigless testing to better evaluate the real reservoir
Following incorporation of the production test results in the reservoir
model for the field, both the commercial potential and Contingent
Resources of the Gradizza discovery will be determined and reported.
Po Valley Energy
+39 06 4201 62 75
About Po Valley Energy
Po Valley Energy (ASX: PVE) is an oil and gas producer and exploration
company listed on the Australian Stock Exchange. It has an expanding
portfolio of hydrocarbon assets in northern Italy. Po Valley holds 12
license areas, encompassing 2,000 square kilometres and owns and
operates two gas treatment plants. The Po Valley region is the main gas
production zone in Italy. The Company’s web site is http://www.povalley.com
Back to the list of news releases.