Prospex Energy PLC, the AIM quoted investment company focused on European gas and power projects, is pleased to provide an update from the Selva Malvezzi production concession in Italy following the publication by Po Valley Energy Limited ("Po Valley Energy") (ASX: PVE) of an update on activities.
Po Valley Operations Pty Limited ("PVO"), a wholly owned subsidiary of PVE is the operator of the Selva Malvezzi production concession, which has a 63% working interest, while Prospex has the remaining 37% working interest.
Highlights
· Successful completion of the 3D geophysical acquisition campaign over the Selva Malvezzi Concession area in Italy on 27 November 2025.
· The programme which covered approximately 140 square kilometres will be instrumental in ?ne tuning the Joint Venture's four well development programme on this concession.
· 3D seismic survey data acquisition commenced on 13 November 2025 and completed on 27 November 2025 having recorded 5,052 vibration points, with only three hours of weather standby. The contractor laid out 8,380 wireless geophones and used single sweeps from four Vibroseis trucks operating simultaneously in separate quadrants.
· The acquired data is being collated and will undergo time-domain volume processing over the coming months in order to deliver a high-resolution three-dimensional subsurface model in support of future ?eld development planning and potential resource upgrades.
· The Operator will carry out the subsequent interpretation of the data in-house with results expected to be announced in Q2-2026.
Mark Routh, Prospex's CEO, commented:
"I am very pleased to report that Po Valley Energy has completed this ambitious work programme safely and efficiently. With the benefit of an unusually dry November the survey has been completed on budget and ahead of schedule.
"The Po Valley team in Italy are to be congratulated for delivering an excellent project whilst co-ordinating the two contractors Geo?zyka Torun, on the data acquisition and Geotec in support of the complex permitting process throughout every phase of the project.
"The processed results will be interpreted in-house by the Po Valley team with the dual objective of optimising the subsurface drilling targets of the four new wells to be drilled on the Selva Malvezzi concession and delivering an upgrade to the certified gas resources."
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.