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Po Valley Energy Limited
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Po Valley Energy Limited
All rights reserved.
April 1, 2016
Po Valley Energy (ASX:PVE) has today announced its financial results for the year ended 31 December 2015.
In summary:
Commenting on the 2015 year-end financial results, Sara Edmonson, Po Valley’s CEO said: “2015 was an extremely challenging year for the company; characterised by both falling revenue from our main production field (Sillaro), and a severe contraction of global equity and debt markets across our industry. The difficulties in the oil and gas markets delayed our ability to finance planned work to increase production and revenue from the Sillaro and Bezzecca gas fields. Looking forward, the Company is well underway in its plans to recapitalise the business and continues to make progress on the permitting of strategic assets including Teodorico and Selva.”