Positive log results at Gradizza1 well

August 29, 2013

Po Valley Energy Limited (ASX:PVE) is pleased to announce positive log results following the drilling of the exploration well Gradizza1.

After reaching the Total Depth of 1,030 metres during the weekend, the Company has now completed logging operations and it is pleased to confirm the identification of a gas bearing zone in the primary target area of the quaternary sand level. The well intersected a 10 metres gross gas column, with 9 metres of net gas sand.

PVE has elected to run casing, complete the well and start the production test. Upon evaluation of the test results, production rates will be finalized.

The Company will report results of the testing once completed which is expected to take approximately one week.

MEDIA CONTACTS:
Sara Edmonson
Po Valley Energy
+39 06 4201 62 75

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 http://www.povalley.com

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