Transerv (TSV) is listed on the ASX with a mandate to invest in oil and gas projects.  It has recently acquired a 10% interest in the Warro Gas Project following Alcoa's announcement on 13 June 2008 it was farming into the project through a staged evaluation program including a 2 - 3 well drilling program, seismic surveys and production facilities to earn a 65% interest.  Importantly due to Transerv's funding of the project owner Latent during 2007/2008 to earn its 10% interest, Transerv is free carried for the first $40 million of Alcoa's project expenditure.

The Warro Project has the potential to add 10% to the current gas supply to the South West of Western Australia from a large new gas source located just to the north of Perth.  A new specialist 1,500 hp drill rig is expected to arrive in Western Australia from the USA in October to commence drilling the first Warro well in December 2008.