Po Valley Operations Pty Ltd. (PVO) filed an environmental impact assessment (EIA) with Italy's Ministry of Environment and Energy Security (MASE) to drill, develop, and commission four new wells within the Selva Malvezzi production concession in Po Valley basin, Northern Italy.

The four proposed wells are relatively close to the existing Podere Maiar 1 well, which has been in continuous production for 3 years at about 80,000 cu m/d.

Processing of the 3D seismic data, covering about 140 sq km, is expected to be completed in July, with interpretation work commencing immediately thereafter. The objective of this work is to deliver a high-resolution, 3D subsurface model which will inform the drilling program upon receipt of MASE approval.

The four-well program targets the major gas potential of the Selva Malvezzi concession. The development, if successful, will connect to the existing SNAM national pipeline close to the concession to provide energy to the Emilia Romagna region of Italy.

PVO, a wholly owned subsidiary of Po Valley Energy Ltd., operates the Selva Malvezzi production concession (63%) on behalf of partner Prospex Energy PLC (37%).