Business Description:
Po Valley Energy Limited (PVE) is an Australian oil and gas exploration and development company primary focus on tenements in the Po Valley region in Italy.

Strategy Analysis:
Po Valley Energy pursues shareholder wealth through identifying low risk exploration opportunities in well understood and proven hydrocarbon provinces. Furthermore, the company only pursues opportunities in markets with low sovereign risk, high domestic energy demand and with readily accessible infrastructure. To date the Company has successfully executed this strategy in Italy via the gas fields Sillaro, Castello and Sant Alberto, however it continues to evaluate similar opportunities outside the Po Valley hydrocarbon basin, both within and outside Italy. Of key importance is having the necessary technical and country expertise to ensure a high probability of identifying good targets as well as pursuing only opportunities where the scale of risk and return is commensurate with the size and resources of PVE. Po Valley Energy reported positive cash flow of $5.5m for quarter ended 31 March 2009. Operating cash flow for the period was $(3.01m). Payments for exploration and evaluation were $(264,000). Investing cash flow was $(26,000). Financing cash flow was $8.54m. Cash in hand at the end of the quarter was $10.6m.