Prospex Energy PLC has released a fresh operational update on its Selva Malvezzi production concession in Italy, highlighting steady progress across both exploration and production activities.
The company confirmed that a new 3D seismic survey kicked off on 13 November 2025, with fieldwork set to wrap up by mid-December. The processed results — expected by April 2026 — will play a key role in shaping the next phase of development at the site. PVE ASX Announcement-18Nov2025.
Highlights
· 3D seismic survey underway to improve geological understanding across the concession – commenced 13 November 2025 and is expected to be completed by mid-December, weather permitting.
· The acquired data will undergo time-domain volume processing, anticipated to be completed by April 2026, producing a full three-dimensional subsurface model for future development planning.
· Successful routine slickline integrity test completed on well PM-1 on 5 November 2025.
o PM-1 well continues to deliver strong performance from the C2 level, having produced 61 million scm (2.1 bcf) since first gas on 4 July 2023
· New noise reduction barriers installed at the Selva gas processing plant as part of ongoing operational improvement and community engagement initiatives.
· Vegetation screening planted along the perimeter of the PM-1 facility.
Prospex also reported a successful slickline integrity test on the PM-1 well on 5 November 2025, reinforcing its strong performance. Since coming onstream on 4 July 2023, PM-1 has delivered a robust 61 million scm (2.1 bcf) of gas. Prospex’s 37% working interest translates into remaining 1P/2P/3P net reserves of 0.8 / 4.2 / 10.3 bcf.
On the ground, the company continues to invest in operational upgrades and community-focused improvements. New noise-reduction barriers have been installed at the Selva gas processing plant, while vegetation screening has been completed around the PM-1 facility to enhance environmental integration.
Mark Routh, Prospex’s CEO, commented:
“I am very pleased to report that Po Valley Energy continues with the sound and efficient operation of the Selva Malvezzi Production Concession. Of particular note is the progress being made on the 3D seismic survey, which started on 13 November 2025. The processed results will optimise the subsurface drilling targets of the four new wells to be drilled on the Selva Malvezzi concession.
“Production from the PM-1 well at Selva continues at a steady and reliable rate of ~80,000 scm/d. Having produced 61 million scm of natural gas since first production on 4 July 2023, the Prospex 37% share of the remaining 1P/2P/3P net reserves in the PM-1 well are 0.8/4.2/10.3 bcf. See Table 1 below for further information.”
