PVE's quarterly activities report released on 29 Jan 2021, takes the company a step closer to production, with the final EIA decree waiting for the Environmental Minister's signature. The final production concession approval is expected in the first quarter calendar 2021, for both Selva Malvezzi (Onshore Gas) and Teodorico (Offshore Gas).
While that is good news it should come with the caveat that Italian bureaucracy can move at the pace of an arthritic snail, so fingers crossed the signature is put to paper as expected. That's of course there is an Environmental Minister for the first quarter after the resignation of the Prime Minister Conte and the likelihood of a reshuffle.
Having held the stock since December 2009, when a "smart analyst" rated it at $3.50 per share, another stumbling block would not come as a surprise.
PVE Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held
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