ASX MEDIA RELEASE FOR APPROVAL Wednesday October 21, 2009 Milestone as commissioning of first gas field commences The commissioning schedule has commenced on the first gas field to be brought into production in northern Italy by Po Valley Energy (ASX: "PVE").

The Company commenced the pre-production schedule this week at the Castello field, east of Milan.

"This is a milestone for the Company and follows a successful civil and mechanical works program on site since July which was completed ahead of the scheduled four months to allow commissioning to commence this week," Po Valley"s Chief Executive Officer, Mr Michael Masterman, said today.

"The key checkpoints over coming weeks will be on the field"s pressure vessels, a trial gas flow run and health and safety checks on the integrity of the surface plant," Mr Masterman said.

"With a successful commissioning program, we anticipate Ministry approvals and first gas for commercial gas sales to be introduced into the pipeline in mid to late November," Mr Masterman said.

Po Valley"s second planned production contributor, the Sillaro field east of Bologna, is expected to commence commissioning work, from January next year.

The majority of prefabricated equipment is now on site at Sillaro and mechanical assembly of the production plant will commence shortly.

Both fields are 100%-owned by Po Valley.

MEDIA CONTACT: Michael Masterman Kevin Skinner Po Valley Energy Field Public Relations (0039) 333 1961061 (08) 8234 9555 / 0414 822 631