Po Valley signs gas sale contract with Shell

July 1, 2013

Po Valley Energy Limited (ASX:PVE), the northern Italy focused gas and oil exploration and production company, is pleased to announce to the Market that it has finalised a new off-take agreement with Shell Italia S.p.A — part of the global group Royal Dutch Shell.

The contract is benchmarked to gas prices in Italy and commences on 1 July 2013. An option to extend the contract is available.

Giovanni Catalano, Managing Director of Po Valley Energy commented: “We are very pleased to start a commercial relationship with Shell and welcome this opportunity in light of a number of future development projects both on and offshore Italy.

The new contract represents an important stage in the Po Valley Energy’s development as a gas producer as this is an opportune time to execute a gas sales contract with a major global customer”.


MEDIA CONTACTS:
Giovanni Catalano
Po Valley Energy
+39 06 4201 62 75

About Po Valley Energy
The Po Valley region is the main gas production zone in Italy. 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 licence areas, encompassing 2,000 square kilometres and owns and operates two gas treatment plants, Sillaro and Castello.

For more information please visit www.povalley.com

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