Prospex Energy plc said it had achieved stable production rates and “substantial” cash flows from the Podere Maiar-1 gas facility on the Selva Malvezzi production concession in north Italy. PRODUCTION Operator Po Valley Energy Ltd (63%) began production at PM-1 on 4 July and reached c.72,000 standard cubic metres per day (scm/d) during the initial testing […]
Tag: Podere Maiar well – Selva Malvezzi
Swing to a loss still leaves Prospex on ‘sound footing’
Prospex Energy plc’s swing to a loss has failed to dent its optimism with the start of gas production in the Po Valley and approvals pending for more wells in Italy and Spain. FINANCES Half-year results to 30 June showed £888,473 loss after taxation from operations (H1 2022: profit £5,120,408). The figures includes unrealised losses of […]
Prospex clears delayed fire safety checks at Selva
Prospex Energy plc has cleared final safety checks to start gas production from Podere Maiar-1 at the Selva gas field in the Po Valley region, northern Italy. MOBILISATION The company had faced delays due to regional severe flooding but has now received formal documentation for operations to begin in eight days following completion of all […]
Prospex JV secures land rights for production
Prospex Energy plc’s joint venture (JV) partner has secured the land rights in readiness for production at the Podere Maiar licence in the Selva gas field, Po Valley, North Italy. JOINT VENTURE The JV comprises Prospex (37%) and operator Po Valley Energy Ltd (63%). PROGRAMME Prospex said that Po Valley had approved all payments to […]
Prospex notes Podere Maiar gas plant-pipeline contract
Prospex Energy plc said that its joint venture partner had signed the contract for the installation of the gas plant and pipeline at a lower cost on the Podere Maiar gas field in the Po Valley, northern Italy. JOINT VENTURE Prospex holds a 37% working interest in the licence with operator Po Valley Energy Ltd holding the […]
Prospex welcomes Podere Maiar production concession
Prospex Energy plc said its joint venture (JV) partner Po Valley Energy Ltd had received the production concession for the Podere Maiar onshore gas field in the Po Valley, northern Italy. LICENCE The gas field lies within the Selva Malvezzi production concession. Prospex owns a 37% working interest in the Podere Maiar licence with operator Po […]