Company Po Valley Energy Limited

Po Valley Energy Limited is an Australia-based gas and condensate development company. The Company is an explorer and developer of natural gas for domestic consumption in Italy. The Company is focused on developing two of its fields, Podere Gallina (Selva) and the Teodorico project. Selva is an onshore natural gas field in the eastern part of the Po Plan, among the Ferarra and Bologna provinces, in the Emilia Romagna region. The exploration permit measures approximately 506 square kilometers (km2) and within this permit, the Selva Malvezzi production concession is 80.68 km2. The Company's 100%-owned Teodorico (AR94PY) license is located off the east coast of Italy, approximately 30 km southeast of Venice and 40 km northeast of Ravenna, in the shallow waters of the Adriatic Sea. The Company is active in Italy’s main onshore gas production fields of Po Valley in the north of Italy and offshore gas fields in the Adriatic Sea. Its subsidiary is Po Valley Operations Pty Limited (PVO).