(MENAFN- ProactiveInvestors - Australia) Italian gas producer Po Valley Energy's (ASX: PVE) deputy chairman Michael Masterman has acquired 150,000 shares in the company in on market trade for $16,500, or $0.11 per share.
The acquisition increases the number of shares that Masterman holds both directly and indirectly in the company to 29,845,302 shares.
Po Valley expects to boost production in early 2013 after completing upgrades to its Sillaro gas plant.
Production from Sillaro is presently constrained at about 1.8 million cubic feet of gas per day (MMcfd) pending installation of a condensate separator.
Once installed, production from the field is expected to rise to about 3MMcfd.
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