Po Valley Energy Has Successfully Completed Rigless Testing at Gradizza-1 Gas Discovery

Po Valley Energy Limited (ASX: PVE) is pleased to inform the market that it has successfully completed rigless testing at the Gradizza-1 gas discovery, which was drilled in September.

Testing was completed over 5 days on different chokes. Flow rates stabilised at ~15,000 standard cubic metres/day with a 3/16" choke increasing by 114% or ~8,000 standard cubic metres/day compared to the test carried out post completion. Well pressure following build up and shut in recovered quickly and no formation water was associated with gas production.

The improvement in tested flow rates reflects a continued clean up of the well and reduction through gas flow of the formation damage around the perforations and gravel pack.

Source: Po Valley Energy