Proactive Investors - Run By Investors For Investors

Po Valley Energy directors increase stake by participating in share placement

The company aims to bring the Selva Malvezzi gas field in Italy into production next year
$1.2 million in total raised from the placement

Po Valley Energy Ltd (ASX:PVE) directors Kevin Bailey, Dr Byron Pirola and Michael Masterman have increased their stake in the company via the second tranche of a private placement announced on December 19, 2018.

READ: Po Valley Energy concludes second tranche of $1.2 million private placement

Bailey and Dr Pirola both acquired shares worth $100,000 each while Masterman acquired shares worth $224,000.

Po Valley had raised about $776,00 from the first tranche in December 2018. The company has now raised a total of about $1.2 million from both the tranches combined.

READ: Po Valley Energy aims to bring Selva gas field into first production next year

The company aims to bring the Selva Malvezzi gas field in Italy into first production next year with a preliminary production concession granted and environmental approval documentation submitted.

A maiden 2P gas reserve of 13.3 billion cubic feet (bcf) for the onshore project in the country's north was declared earlier in the year.

View full PVE profile View Profile

Po Valley Energy Ltd Timeline

Related Articles

January 21 2019
The company aims to expand its portfolio of hydrocarbon resources as it prepares oil and gas projects for production and continues its regional exploration work.
oil barrels lined up
April 30 2019
Oil producer Bass hopes to hit a production milestone and add onshore assets.
coal mine
April 01 2019
Lesedi is one of two projects Tlou has in Botswana and comprises five CBM prospecting licences

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use