Po Valley Energy Limited (AU:PVE) has released an update.
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Po Valley Energy Limited reported a productive quarter for its Selva Malvezzi Production Concession, with the PM1 well producing approximately 80,000 scm of gas per day, leading to revenues of €1.91 million. The company is now focusing on advancing multiple projects within the concession, including an upcoming 3D seismic campaign and a multi-well drilling program. The financial health of the company appears stable, with an operating cash flow of €874k and a cash balance of €2.1 million as of March 31, 2024.
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