News & ASX Releases

Po Valley to conduct further testing on Gradizza-1 gas discovery

October 10, 2013

Po Valley Energy Limited (ASX: PVE) provides the following update in relation to the Gradizza-1 gas discovery which was drilled in early September.

After reviewing the initial test data, the Company advised that it will proceed with rigless testing to complete the well cleanup and perform additional production tests, to better evaluate the commercial potential of the well.

Based on the reservoir and data collected to date, estimated daily production rates are expected to be well below the targeted Prospective Resources estimate published in the Company’s annual report as the lower production rates will impact Recoverable Reserves.

Well cleanup and testing will be undertaken during November.

Following interpretation and incorporation of the new results in the reservoir model for the field, both the commercial potential and Contingent Resources of the Gradizza discovery will be reported to the market.

Sara Edmonson
Po Valley Energy
+39 06 4201 62 75

About Po Valley Energy
Po Valley Energy (ASX: PVE) is an oil and gas production 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 km2 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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