PVE has done well to let the market know, in advance, of the problems with the Castello well.
The great news is that the gas bearing levels perforated in Vitalba-1dir were separate and not linked to Agnadello-1. If that had been the case then it would have been significant.
The MAIN point being, that the results from evaluations indicate that the original gas attic reserves of Agnadello-1 remain in place and have not yet been accessed or produced from in the Vitalba-1dir well. New reservoir and geological interpretation work completed by the University of Turin (Dedicated Reservoir Engineering And Management) concluded that:
The Vitalba-1dir gas bearing sands are distinct and hydraulically separated from the original Agnadello-1 production levels
An unforseen cost of 2.5M for a new well is really the only downside of this situation. The 2P reserves will still be quite adequate, and will simply be reconnected back up to the grid.
This IS A GOOD BUYING OPPORTUNITY!
E.
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Last
4.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $49.83M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 350000 | 4.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.4¢ | 100000 | 1 |
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| Last trade - 16.21pm 15/09/2025 (20 minute delay) ? |
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