Transerv Energy is an ASX-listed company focused on making strategic investments in conventional and unconventional oil and gas projects – a developing area given demand for oil and gas is expected to increase significantly in the future.
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Flash Note - Transerv Energy Limited (ASX:TSV)
Recoverable Contingent Gas Resource Doubled
Successful Drilling of Warro 5 and 6 Wells
November 30, 2015
Independent assessment of the Warro gas field has significantly increased resources:
Successful drilling of Warro-5 and Warro-6 wells:
The results from the two recent wells and subsequent GIIP resource upgrade at the Warro Gas Project have provided excellent results for Transerv, reaffirming the potential of the Warro Gas Project, in which Alcoa, Western Australia’s largest domestic gas user, is earning 65% through funding of activities. Warro contains the largest undeveloped onshore gas resource in Australia, is close to major gas pipelines and is located just 200km north of Perth.
The recent drilling programme included two wells, Warro-5 and Warro-6, on which initial testing could commence in December and may take up to six months to complete. Both wells were drilled away from the deep-seated faults intersected in Warro-3 and Warro-4, which were interpreted as being the source for unwanted water inflows. Warro-5 is sited 3.5km away from the previous wells, representing a significant step out, and given the results of the drilling, provides a substantial extension to the proven extent of the gas field. These well results have proven a significant volume of in-place gas which will provide the nucleus for a development programme once commercial gas flows are established.
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