Po Valley Energy: drilling in vineyards

Kevin Bailey is a financial advisor and a shareholder and director of Po Valley Energy, which is the Australian company that owns gas leases in the north of Italy. It's had an independent valuation of at least $70 million, currently capitalised at $27 million.  Kevin reckons there's plenty more left in it. Alan Kohler dropped him a line to find out more.  

Alan Kohler here, and today I'm talking to Kevin Bailey, financial advisor and a shareholder and director of Po Valley Energy, which is the Australian company that owns gas leases in the north of Italy. Now Kevin has been a shareholder of this business for 10 years. He went on the board in 2016 because he ended up buying so much of the business. He's got $5 million invested in it. He started buying when they were fairly expensive, and now their share price collapsed and he really started hopping in and buying more. It got down to one cent. In the last couple of days, they've popped up to four and a half to five cents a share. But the more important thing is, this is a very interesting business. It's had an independent valuation of at least $70 million, currently capitalised at $27 million. Kevin reckons there's plenty more left in it. 

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