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Po Valley Energy Advances Italy Project EIA, Signs New Gas Sales Agreement

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Po Valley Energy (ASX:PVE) said Italy's Ministry for Energy and the Environment has confirmed the admissibility of proceeding with the Selva Malvezzi Environment Impact Assessment (EIA), with a 60-day observation period starting Sept. 1, according to a Friday Australian bourse filing.

The company said the Podere Miair well produced about 2.5 million standard cubic meters of gas in August at an average price of 0.67 euro per standard cubic meter, generating gross revenue of about 1.7 million euro for the month, with Po Valley Energy's 63% share representing about 1.6 million standard cubic metres and 1.1 million euro in revenue.

The company signed a new 12-month gas sales agreement with Hera Trading, commencing Oct. 1, with estimated supply volumes of 28.2 million standard cubic metres for the thermal year ending Oct. 1, 2027.

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