Po Valley Energy Limited · ASX:PVE
Po Valley Energy — Good Oil Conference 2011
21 slides from Po Valley Energy's conference presentation, Sep 7, 2011
Slide 1: Italy Based Profitable Gas Producer
For personal use only Italy Based Profitable Gas Producer With a Balanced Portfolio of “Low Risk” Oil & Gas Projects Good Oil Conference 6-7 September 2011
Slide 2: Disclaimer
Disclaimer This presentation is for informational purpose only and should not be considered as an invitation or recommendation to purchase securities in Po Valley Energy Limited. For personal use only This presentation may contain forward looking statements that are subject to risk factors associate
Slide 3: Presentation Outline
Presentation Outline Po Valley Energy For personal use only Company overview Why invest in Italy Business environment & market profile Italian gas market Upstream business environment Company portfolio Exploration and production assets Sillaro producing gas field “Typical” Po Valley profitable proje
Slide 4: Company Overview
Company Overview Listed on ASX: since 2004 Daily gas production: 3.0 mmscf Shares on issue: 111.1m 2010 production: 0.95 bcf For personal use only Market cap: AUD 22m* 1H 2011 production: 0.55 bcf Extensive 100% owned assets base: ~2,000km2 2010 revenue: AUD 9.6m Experienced Board 1H 2011 revenue: A
Slide 5: Why Invest in Gas in Italy
Why Invest in Gas in Italy 3rd largest European gas market – population of 60 million NATURAL GAS GRID For personal use only Highly import dependent - (90% gas, 85% oil) Po Valley basin is Europe's 2nd largest gas province Remaining estimated 2P unrisked reserves - 4.3 trillion cubic feet of gas and
Slide 6: Italian Gas Market
Italian Gas Market Amongst the highest gas prices in the world Upward Italian gas price trend For personal use only High operating netback per mscf 2010 AVERAGE PRICE OF DRY NATURAL GAS HISTORIC & FORECASTED ITALIAN GAS PRICE TREND AUD/mscf AUD/mscf Po Valley Energy* UK National Average US National
Slide 7: Company Portfolio
Company Portfolio Balanced portfolio of “low risk” assets 100% PVE owned For personal use only Overall area: 2,000km2 4 assets drilled - 4 commercial gas discoveries 2 Producing gas fields Production: 3.0 mmscf/day Reserves: 2P of 11.8 bcf 1 2 Development gas projects Contingent Resources: 2C of 12.
Slide 8: Sillaro Producing Gas Field
Sillaro Producing Gas Field Production commenced in May 2010 For personal use only 8 years of expected production Producing approximately 3 mmscf/day 7 reservoir levels confirmed and 4 in production Reserves: 1P 7.5 bcf; 2P 8.2 bcf Pressure readings confirmed the above certified reserves Pressure re
Slide 9: Year Work Program
3 Year Work Program 3Y plan to shorten “time to market” and unlock P50 potential resources of 68+ bcf of gas and 25+mmbbl of oil For personal use only 2H2011 2012 2013 2014 producing Sillaro PRODUCTION Proven Castello PRODUCTION Sant‟Alberto PRODUCTION Fantuzza PRODUCTION Development Pending Bezzecc
Slide 10: Why Invest in PVE
Why Invest in PVE Italy Upstream: For personal use only Favourable investment environment, only “challenge” time to market Amongst highest gas prices in the world PVE “today”: Profitable gas production and... improving High operating netback Excellent balanced portfolio of “low risk” assets “Value a
Slide 11: Contacts
Contacts FOR FURTHER INFORMATION PLEASE CONTACT: For personal use only Giovanni Catalano ROME OFFICE Chief Executive Officer Via Boncompagni, 47 Rome Italy 00187 +39 06 4201 62 75 TEL +39 06 4201 4968 FAX +39 06 4239 1900 Michael Mullane Cannings Corporate Communications (02) 8284 9990 REGISTERED OF
Slide 12: Appendix
For personal use only APPENDIX Italy Based Profitable Gas Producer With a Balanced Portfolio of “Low Risk” Oil & Gas Projects Appendix Good Oil Conference 6-7 September 2011
Slide 13: Content
For personal use only Content Castello gas field Development assets – Bezzecca & Sant’Alberto Fantuzza-1 well Cadelbosco & Grattasasso Canolo & Zini Bagnolo in Piano & Ravizza Expansion offshore: AR168PY Exploration prospects 13
Slide 14: Castello Gas Field
Castello Gas Field Production started December 2009 For personal use only Produced intermittently in May and June 2010 with present production from existing Vitalba- 1dir well limited to 3,000scm/day Extensive static & dynamic reservoir studies completed Revised geological and reservoir model finali
Slide 15: Development Assets: Bezzecca
Development Assets BEZZECCA For personal use only BEZZECCA-1 PROJ 400M Located in the Cascina San Pietro permit (near Milan) Bezzecca-1 well drilled and 3 levels tested (total 3.9 mmscf/day) Well completed on 3 levels Application for production concession lodged in January 2011 Phased development pl
Slide 16: Development Assets: Sant'Alberto
Development Assets SANT‟ALBERTO For personal use only Located in the San Vincenzo permit (near Bologna) Santa Maddalena-1 well drilled and tested (1.8 mmscf/day) Well completed on 3 levels 2D seismic survey acquired in March 2011 (first seismic acquisition for PVE) 2 well, phased development plan su
Slide 17: Fantuzza-1 Well
Fantuzza-1 Well Fantuzza is expected to feed into the Sillaro For personal use only plant 2 km away Previously drilled and tested by ENI Targeting 2,600m Miocene structure Contingent resources: 1C: 1.5 bcf 2C: 5.4 bcf 3C: 8.0 bcf Fantuzza-1 site selected Major equipment items purchased Preparation f
Slide 18: Cadelbosco & Grattasasso
Cadelbosco & Grattasasso Targeting the former ENI producing Correggio gas field Well Canolo 1 Past production ~250 bcf For personal use only Full grant of the licences awarded in March 2011 @633m Qu/A Purchased 111km of 2D seismic data from ENI @1080m 2 shallow Quaternary prospects already identifie
Slide 19: Oil Discoveries: Bagnolo in Piano - Ravizza
Oil Discoveries BAGNOLO IN PIANO - RAVIZZA (Cadelbosco Di Sopra) (Grattasasso) For personal use only 0m 350 m Zini & Canolo Quaternary 1000 m 1100 m prospects Pliocene 2000 m 2200 m 3000 m 4000 m OLIGO/ 4500 m Ravizza EOCENE 5000 m Bagnolo 5500 m in Piano GEOLOGICAL SECTION ON PURCHASED LINE REG6 BA
Slide 20: Expansion Offshore: AR168PY
Expansion Offshore: AR168PY Northern Adriatic sea: offshore extension For personal use only of Po Valley Exploration licence preliminarly granted, full award expected shortly Major gas production zone in Italy Shallow water depth ~ 30/50m Full 3D seismic coverage already available G&G work underway
Slide 21: Exploration Prospects
Exploration Prospects GRADIZZA PODERE GALLINA For personal use only La Prospera exploration Cembalina prospect’s permit interpretation with seismic Target depth 1,000m acquired in 2011 - finalised Drilling approval - pending Monestirolo/Bova & Selva gas fields - remaining Prospective Resources poten