Po Valley Energy Ltd drilled Gradizza-1 in the La Prospera exploration permit in early September 2013 and carried out additional rigless testing in November.

The production test results, together with the reservoir static model, confirmed its commercial viability.

Gradizza-1 is located on the top of the crest and intersected 10 metres of net gas sand. No Gas Water Contact was detected (GDT).

The well intersected less net pay than pre drilling estimates resulting in a decrease of the 2C Contingent Resources compared to previously reported Prospective Resources.

Tags: Po Valley Energy