I'm no expert on this, but my understanding is that the Bezzeca field was relatively low risk - it had been drilled by ENI already - so the successful well testing isn't that exciting.
It is progress towards production, but the bureaucratic barriers in Italy seem harder to drill through than the rocks. If they can really get Bezzeca producing by 2011 that will be huge, but going by previous timeline stretching 2014 seems more likely.
PVE Price at posting:
$1.60 Sentiment: Buy Disclosure: Held
