News & ASX Releases

Po Valley Energy to spud Gradizza-1 well

August 14, 2013

Po Valley Energy Limited (ASX:PVE) is pleased to advise the market that the drilling of the Gradizza-1 exploration well, in the La Prospera licence (north of Bologna), has commenced.

The drilling contractor company is LP Drilling Srl with its hydraulic rig “Corsair 300” and drilling operations to reach the potential gas bearing sands target are expected to take around 10 days.

The Gradizza structure is located in the Ferrara province north of Bologna and consists in a sandstone Quaternary target at a total measured depth of 1,000 metres.

As announced in May, a farmin agreement with AleAnna Resources LLC and Petrorep Italiana S.p.a. was completed for a disproportional funding by the new partners for the drilling cost of Gradizza-1 well, leaving the Company equity in La Prospera licence post promote at 75% with Petrorep at 15% and AleAnna at 10%.

Michael Masterman
Po Valley Energy
Non - Executive Director
+61 418951792

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

Back to the list of news releases.