targets increased italy gas exploration areas

Po ValleyTargets Increased Italy Gas Exploration Areas


http://sa.iguana2.com/cache/890765587a3d00bce7393d71a1f05d3e/ASX-PVE-324422.pdf

Extract:
Successful Australian gas explorer, Po Valley Energy Limited, is seeking additional exploration acreage in northern Italy as the ASX-listed company readies for its first commercial production from the province by early next year.

Details of eight new exploration licence applications over new gas targets were outlined today by Po Valley’s Chairman, Mr Graham Bradley at the Company’s
annual general meeting in Sydney.
The licence areas are in and around Po Valley’s existing project areas (see attached map) where the Company made several commercial gas discoveries
from successful drilling in 2004 and 2005 near Bologna and Milan.
“Three of the best applications are for uncontested areas, and hosting what Po Valley believes are attractive gas exploration targets,” Mr Bradley said.
“The proposed expansion of our Italian exploration assets is timely, as the likely final grant of the first licences, will coincide with our pending gas production in the first half of 2007” he said.
“If approved, all eight licences should be granted progressively through 2007, assisting Po Valley to build on our successful exploration drilling programs in
northern Italy in 2004-2005".