June 22, 2022
Po Valley Energy Limited (ASX: PVE) (“Po Valley” or “the Company”) is pleased to announce the appointment of experienced oil & gas and finance executive Brent Bonadeo to help drive the Company’s development of its Podere Maiar well in Italy into production in early 2023.
Mr Bonadeo has nearly 30 years of experience across banking, private equity, energy (oil and gas, electricity), infrastructure, resources, industrial and technology. He has E&P financial, capital markets and advisory experience in ‘bulge bracket’ investment banks, domestic banks and boutique advisers.
He is the founder and Managing Director of XTO Capital and advises to ASX-listed companies on M&A, capital raisings, funding and other matters. He co-founded and managed several other businesses related to the oil and gas sector.
He will provide operational advisory services and assist the board and management team in Italy as a consultant to Po Valley for an initial period of six months as it moves to the next phase in preparation for production at the Podere Maiar well.
Po Valley Chairman Kevin Bailey AM said Mr Bonadeo’s experience across oil and gas and finance sectors would help the Company navigate the final hurdles to achieving production at Podere Maiar.
“Brent’s knowledge and experience across a variety of sectors and industries is impressive and extensive, and we look forward to working with him as we continue to progress Podere Maiar towards production in 2023,” he said.
Under the terms of Mr Bonadeo’s engagement, the Company has issued 3,000,000 performance rights. The terms and conditions of the performance rights are set out below in Appendix A.
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