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An update from Po Valley Energy Limited ( (AU:PVE) ) is now available.
Po Valley Energy reported another quarter of stable output and cash generation from its Podere Maiar-1 well in the Selva Malvezzi concession, with average daily production of around 80,000 standard cubic metres and net operating cashflow of €859,000 for the December quarter. The company advanced its growth plans by completing a 3D geophysical survey on time and under budget and progressing updated environmental and development programs for several nearby prospects, while also strengthening its treasury by investing €6 million of cash reserves into short-term Italian government bonds, leaving total available funding at €8.46 million to support future development across the concession.
The most recent analyst rating on (AU:PVE) stock is a Buy with a A$0.07 price target. To see the full list of analyst forecasts on Po Valley Energy Limited stock, see the AU:PVE Stock Forecast page.
More about Po Valley Energy Limited
Po Valley Energy Limited is an Australian-listed oil and gas company focused on the exploration, development and production of onshore natural gas assets in northern Italy’s Po Valley region. Its key operations are centred on the Selva Malvezzi Production Concession in the Emilia-Romagna region, where it operates the Podere Maiar gas field and several nearby gas prospects, holding a 63% operating interest alongside partner Prospex Group.
Average Trading Volume: 310,487
Technical Sentiment Signal: Buy
Current Market Cap: A$69.54M
See more data about PVE stock on TipRanks’ Stock Analysis page.