Thanks eddd - I must have missed that one, or possibly repressed...

Thanks eddd - I must have missed that one, or possibly repressed it.

I still think a capital raising at current prices would be counterproductive for shareholders and suspect neither that nor a farmout are very likely right now. And yes, the off-shore permit seems the best candidate for a farm-out - I keep meaning to ask whether the regulatory process for that will be faster than for the onshore wells (no local or regional governments to deal with, presumably).

PVE's two biggest problems now, in my opinion are: 1) getting the money to progress the development pipeline as fast as they'd like to and 2) the inevitable regulatory delays involved getting permits to drill, produce, etc. etc. The big unknown risk is the general European, and perhaps specifically Italian, financial situation.

Interestingly, the income from Sillaro and Castello is about the same as the amount the company used to raise in their regular capital raisings (when the share price was up around $1.50).