Po Valley Energy: Northern Italy Well 'On Gas'

Po Valley Energy Limited announced Thursday that the Podere Maiar 1dir exploration well, on the Selva gas field in Northern Italy, is now complete for production and ‘on gas’.

The company said it had successfully cased, perforated and completed the well, and revealed that log analysis, including pressure testing, delineated two gas bearing reservoirs with a net pay of 41 metres.

Rig demobilization is currently underway at the asset and flow testing on a rigless basis is scheduled for early January 2018. Full flow test results are expected to be reported at that time.

"We are very pleased with the results to date and that the well has been completed on budget and on schedule,” Po Valley Energy Limited CEO, Michael Masterman, said in a company statement.

“The Po Valley operations team and JV Partners have executed strongly and we keenly await flow test results in the New Year. We have identified two gas bearing reservoirs and the net pay zones are very much in line with our pre-drill expectations,” he added.

Po Valley is the operator of the well with a 63 percent interest. United Oil & Gas holds a 20 percent interest and Prospex Oil & Gas holds a 17 percent interest.


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