http://sa.iguana2.com/cache/9cf586704657d2e96aa38e3306c5adc9/ASX-PVE-329856.pdf
Extract:
KEY DEVELOPMENTS – GAS PROJECTS – NORTHERN ITALY
Sillaro
• Production concession application submitted
• Drilling programs complete for Sillaro 2 Production well
• New well Fantuzza 1 planned for deeper Miocene structure
• Procurement of casings, tubing, and well equipment underway
Vitalba
• Production concession application prepared – to be submitted August
Santa Maddalena
• Production concession application submitted
• Joint Venture acquires seismic to pursue and evaluate field expansion options
New licence applications
• 8 new licence applications submitted
• The 3 highest priority areas – La Prospera, La Risorta, and Opera – are uncontested
• Italian Hydrocarbon Commission met on July 14 to assess 7 of the applications
Market Conditions
• Italian market gas prices continue to rise strongly
• Cash at Bank 30 June 2006 – AUD2.77m
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