From UOG final results3 Jun 2020 17:28
In Italy, throughout 2019 we continued to pursue the various permissions required for our Selva gas development project with the objective of first gas in late 2020, leading to a further significant revenue stream for the company. The approval process was on track during 2019 and into H1 2020 but with the COVID-19 crisis affecting Italy, more seriously than most countries, progress has now inevitably slowed. While disappointing, the delay and associated cost deferral will help sustain our cash reserves in the current low-price environment.