Po Valley Energy Limited (ASX:PVE) is an Australia-based gas and condensate exploration, development and production company focused on the Po Valley region of northern Italy. The company explores, appraises, develops and produces natural gas and condensate from onshore concessions including the Selva Malvezzi production concession, where it operates the Podere Maiar-1d (PM-1d) well and gas treatment facility; develops the offshore Teodorico gas field in the Adriatic Sea; and holds exploration licenses such as Torre del Moro for gas and oil condensate. Through its wholly owned subsidiary Po Valley Operations Pty Ltd (PVO), headquartered in Rome, Italy, Po Valley Energy holds title to licenses and permits, sells gas into Italy's national grid via a 29,300km pipeline network, and targets domestic consumption in residential, commercial, energy and industrial sectors across mainland Italy. Founded in 1999 by Michael Masterman and Byron Pirola and listed on the ASX in December 2004 with registered office in Mount Pleasant, Western Australia, the company operates in Italy's onshore Po Valley gas fields—active since 1945—and offshore Adriatic assets following the 1998 market liberalization post-Eni-Agip monopoly. Recent developments include steady production from PM-1d since July 2023, delivering approximately 54.4 million standard cubic meters of gas under a prior agreement with BP Gas Marketing Ltd; a new 12-month gas sales agreement signed in August 2025 with Hera Trading S.r.l., a Bologna-based Hera Group unit, to supply an estimated 27.96 million standard cubic meters commencing 1 October 2025 via competitive tender, replacing the expiring BP contract; and planned field activities at Selva Malvezzi including Casale Guida 1d (Selva North) starting October 2025 alongside Q3 2025 production updates.