Is the Selva Malvezzi Operational Breakthrough Setting a New Benchmark for FTSE AIM Energy Projects?

Highlights

• Completion of a major subsurface work programme within the Selva Malvezzi concession, delivered within budget and ahead of schedule.

• Acquisition of extensive seismic data to support future field planning and refinement of forthcoming drilling activities.

• Upcoming interpretation phase expected to create enhanced clarity on subsurface structures and development pathways.

Operational progress at Selva Malvezzi advances with seismic acquisition, enhanced subsurface imaging, and upcoming interpretation designed to refine future development activity.

The European oil and gas sector continues to maintain relevance within regional energy planning, and operational updates from onshore projects form an important part of this evolving landscape. Within this environment, Prospex Energy PLC operates as an investment entity placing emphasis on gas and power developments. The company maintains an interest in the Selva Malvezzi concession located in northern Italy, an area with a long-standing association with gas production. The concession is operated by Po Valley Energy Limited, with Prospex holding a significant non-operated working stake (LSE:PXEN).

Prospex Energy PLC appears on the FTSE AIM All-Share segment through its wider market alignment. References to broader market structures such as the FTSE universe, the FTSE dividend stocks category, and the Indexftse Ukx segment help contextualise the company’s place within the United Kingdom’s capital market environment, even while its principal assets operate across continental Europe.

The operational update released reflects the continuation of structured project activity across the Selva Malvezzi concession, advancing the ongoing field development stages and maintaining alignment with the measured timelines expected across the onshore gas space.

Major Seismic Acquisition Activity across the Concession

Extensive geophysical work was undertaken across the concession area to build a current subsurface framework capable of supporting future development activity. This programme consisted of a wide-area three-dimensional seismic acquisition effort completed within a compressed operational timeline. The programme covered a substantial terrestrial footprint and was executed with ground-based equipment designed to deliver full-wave subsurface imaging.

The field operations were conducted using modern acoustic vibration units distributed across designated zones. Multiple vehicles operated in parallel across separate quadrants of the concession, allowing the workflow to progress efficiently without undue delay. In addition, a large array of surface receivers was deployed to capture returning signal activity at multiple entry points. This produced a detailed dataset now undergoing collation ahead of processing.

Printed maps of the concession outline demonstrate that the regional structural trends of the Po Valley basin require high-resolution datasets to define the internal stratigraphic relationships accurately. The new acquisition contributes to building this enhanced resolution, which is essential for refining future drilling paths, avoiding unnecessary operational inefficiencies, and aligning future well locations with optimal reservoir targets.

The activity proceeded without major weather-related interruption due to favourable seasonal conditions, supporting safe delivery of the programme.

Processing and Interpretation Phase to Refine Geological Understanding

The acquired dataset is being organised into a structured archive prior to undergoing processing. The next phase involves time-domain volume processing, a method used extensively throughout modern seismic workflows to convert raw field recordings into geologically meaningful imaging volumes. This sequence supports improved visualisation of subsurface layers and structural variations within the concession.

Once the processed dataset is available, in-house specialists at the operating entity will carry out an interpretation incorporating seismic facies, amplitude trends, and recognised geological markers. This work aims to provide a refined view of potential reservoir boundaries, depth structures, fault patterns, and closure geometries.

The interpretation process provides insight into the expected orientation of development wells and allows for more precise calibration of previously established reservoir models. By integrating historical well data from the Podere Maiar- section, the interpretation strengthens the continuity of the concession’s technical groundwork.

These workflows are designed to support the construction of an updated static model that may later be utilised for dynamic simulation within the broader field development plan. Project partners are expected to receive integrated interpretation outcomes during the upcoming operational cycle.

Operational Delivery and Field Management Framework

The delivery of the seismic campaign reinforces the concession’s operational structure, highlighting the ability of the teams involved to coordinate multidisciplinary field activity spanning permitting, logistics, technical acquisition, and environmental management.

Local teams maintained responsibility for the complex approvals system linked to terrestrial seismic activity in Italy, ensuring continuous compliance with land-use protocols and community engagement requirements. Specialist geophysical contracting groups provided on-site data acquisition, supported by field management oversight from the operator.

The concession has previously demonstrated gas production capability based on earlier wells, including the Podere Maiar- section, which encountered a commercially relevant accumulation during prior drilling. The new seismic initiative is expected to complement that knowledge base by broadening the mapped extent of the field area and identifying structural features beyond the initial discovery zone.

The concession is held under a joint venture structure, with Prospex participating through its associated entities. This joint approach allows shared technical oversight and coordinated advancement toward future development wells anticipated for the concession.

Field Characteristics, Resource Framework, and Regional Significance

The Selva Malvezzi concession includes recognised reserves and contingent resources as assessed by an independent technical reviewer. The wider Po Valley region has a documented legacy of hydrocarbon extraction, and the concession’s geology reflects the depositional environments typical of northern Italy’s foredeep basin systems, characterised by alternating sandstone and clay formations capable of retaining gas accumulations.

Focused seismic interpretation assists in detecting these variations by capturing subtle shifts in acoustic reflection patterns. This data may help delineate reservoir intervals, refine volumetric assessments, and map potential extensions of the existing field structure.

The concession’s resource base includes various reserve and resource classifications supported by earlier work programmes. These classifications were previously summarised within competent person assessments relating to the region’s development potential. The new seismic campaign is expected to interface with that earlier dataset by providing clearer delineation of horizons, continuity of reservoir units, and structural closures across the concession.

The ongoing development interest in this region reflects its relevance within Europe’s broader gas portfolio, emphasising domestic and regional energy contributions achievable through structured and regulated onshore development programmes.