2009-08-19-2007-02-01

Gas fields

Grove Energy Ltd., Vancouver, (Toronto Venture, London: GRV) and ENI SPA, Rome, (NYSE: E) plan to unify the Abbadesse and Longanesi discoveries in Italy. The gas field appears to extend from Grove's San Marco permit and the Casale Cocchi application into ENI's San Potitio concession. The combined field will be known as Longanesi. Grove's Abbadesse-1 discovery well production was tested at 15 million cubic feet of gas per day (approximately 2,560 barrels of oil equivalent), and Eni's Longanesi-1 well has similar results. Grove will maintain a 100% interest in the rights and obligations of the balance of the area that will be more than 70,000 acres surrounded by reserves of approximately 1 trillion cubic feet discovered by ENI. Grove president Wolfgang Zimmer says, "Production from the Abbadesse/Longanesi Field will be the most significant achievement in Grove's formative years. Cash generated from Abbadesse will provide a solid financial base to fund ongoing exploration programs in Europe and the Mediterranean Margin as well as to mature our other important projects." Grove expects to realize economies of scale, greater purchasing power, experience and expertise and an optimized development plan using existing infrastructure by working with ENI.