Po Valley retains north Italian oil assets after key shareholder in private UK buyer blocks sale
Australia’s Po Valley Energy is to retain full ownership of two onshore oil fields in northern Italy after their sale to a private London-based resources company, Delta Energy Limited, was blocked by one of Delta’s large shareholders.
After a year of substantial expenditure, due diligence and rising oil prices, Delta’s management is understood to have fully endorsed the acquisition of the large Cadelbosco di Sopra (Po Valley 85%) oil exploration licence and adjoining smaller...