December 16, 2011
Po Valley Energy (ASX:PVE) is pleased to advise successful testing of
the Pliocene SAN A2 sand level in Vitalba1dirA well, in the Cascina
During clean-up of the well, the flow-rate reached 2.6 million cubic
feet/day with a 1/4” choke, stabilising at 1.4 million cubic feet/day
with a 3/16” choke and 0.6 million cubic feet/day with a 1/8” choke.
Initial pressure fully recovered in all cases. There was no water
associated with the gas production.
The single completed well will be ready to be connected to the existing
on-site gas treatment plant after the rig is demobilised.
“2011 has been a pivotal year for Po Valley. With this result confirming
the potential of significantly increasing production at Castello and
the progress made on the other elements of the Company’s development and
exploration program, our team’s capacity to monetise our gas resources
by delivering on our projects and prospects in the strong Italian gas
market means we are well positioned for 2012,” Po Valley Energy CEO, Mr
Giovanni Catalano, said.
Following full evaluation of the test results, production rates will be
finalised. At this stage the Company estimates a daily production rate
in the order of 0.7 million cubic feet/day. Revised reserves will be
determined after initial well production data is incorporated in the
static and dynamic model of the field.
Production from Vitalba1dirA is planned within January 2012.
Po Valley Energy
+39 06 4201 62 75
Cannings Corporate Communications
(02) 8284 9990
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