Jan 6 (Reuters) - PO Valley Energy Ltd PVE.AX :
* Has initiated an in-depth review of recent legislation
* If the new restrictions are found to apply, likely that will adversely affect size of exploration license ar94py
* Resolving the implications of the new law will almost certainly cause a delay in determination of our teodorico concession application
* Review to assess implications on production concession application "teodorico" and larger exploration license ar94py
* "Likely that it will adversely affect the size of our exploration license ar94py"
* In process of negotiating to restructure current borrowing arrangements with nedbank to convert current reserve-based loan to fixed loan facility
* "These negotiations are on-going"
* Refers to Italian parliament's 2016 budget law which includes further restrictions on offshore oil and gas activity
* Source text for Eikon ID:nASX2JKB1t