borsano and comments from po valley energy ceo

Hey R,

Yes from what I understand the management are constantly reviewing projects in their current areas of operation. This could easily mean the Po Valley, but it could also be East Africa or South America.

This excerpt comes from page 3 of the December 07 Quarterly Activities Report and refers explicitly to Borsano:

'A drilling proposal has been prepared and is currently being reviewed by the company's Italian operation team and is also being translated into Italian before being lodged eith the necessary governmental and regional authorities. Subject to the necessary approvals being received from the various government and local authorities, the first well is planned to be drilled towards the end of the first half of 2008.'

I have also included these comments from Michael Masterman, CEO of ASX listed Po Valley Energy, referring to bringing PVE's gas discoveries online:

'There had been hopes the fields would start producing this year but first gas has now slipped into 2008 due to the slow-grinding wheels of Italian bureaucracy, which Masterman describes as a "relatively glacial process, requiring quite a lot of patience."'

Don't hold your breath folks!

http://www.oilbarrel.com/feature/article.html?body=1&key=oilbarrel_features_en:1183724939&feed=oilbarrel_en