Transerv Energy is an ASX-listed (ASX:TSV) 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.
Backed by a management team with substantial operational experience both in Australia and overseas, Transerv prides itself on its project identification ability, project management and operational expertise.
The company has a joint venture held through Latent Petroleum Pty Ltd (Western Australia).
Latent Petroleum holds a majority interest (57%) in the Warro Gas Project approximately 200 kilometres north of Perth. Aluminium company Alcoa of Australia is Latent’s joint venture partner holding the remaining 43% project interest.
Alcoa increased its shareholding in the Warro Gas Project following the drilling of two wells (Warro-3 and 4) as part of a staged farm-in evaluation program and will increase its interest again through the drilling of Warro-5 and 6 during the second half of 2015.
The farm-in program includes a five-well drilling program, seismic surveys and production facilities, which could see Alcoa earn a total 65% interest.
Upon completion of the program Transerv, through Latent Petroleum, will retain a 35% interest in the project.