December 4, 2013
Po Valley Energy Limited (ASX: PVE) is pleased to inform the market that
it has successfully completed rigless testing at the Gradizza-1 gas
discovery, which was drilled in September.
Testing was completed over 5 days on different chokes. Flow rates
stabilised at ~15,000 standard cubic metres/day with a 3/16” choke
increasing by 114% or ~8,000 standard cubic metres/day compared to the
test carried out post completion. Well pressure following build up and
shut in recovered quickly and no formation water was associated with gas
The improvement in tested flow rates reflects a continued clean up of
the well and reduction through gas flow of the formation damage around
the perforations and gravel pack.
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 http://www.povalley.com
The Gradizza structure is located in the Ferrara province north of
Bologna and consists of a sandstone Quaternary target (Asti sands Fm.)
at a total measured depth of 856 metres. The well intersected a 10
metres gross gas column, with 9 metres of net gas sand. The Company
holds a 75% equity interest in the La Prospera Licence.
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