News & ASX Releases

Po Valley Raises $1.3M in Private Placement

December 3, 2012

Po Valley Energy Limited (ASX: PVE) announced today that it has raised A$1.35million through a private placement. The company will, subject to obtaining the necessary shareholder approval, issue 11,266,667 fully paid ordinary shares at an issue price of $0.12 to several Australian institutional and sophisticated investors. The company was pleased to receive the support of several of its non-executive directors in the placement, subject to shareholder approval.

The proceeds will be used to upgrade the gas plant at Sillaro in order to enable higher production rates and for general working capital. As the participation of the company’s non-executive directors in the placement is subject to shareholder approval, the placement shares will be issued in two tranches. The first tranche of 7,416,667 shares will be issued on 6 December 2012 and the second tranche of 3,850,000 shares will be issued to the non executive directors if shareholder approval is obtained at an extraordinary meeting of shareholders which the company plans to hold in late January 2013.


Giovanni Catalano
Po Valley Energy
+39 06 4201 62 75

Lisa Jones
Company Secretary
+61 8 9278 2533

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 11 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

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