# WBE - Whitebark Energy



## BESBS Player (18 November 2008)

Anyone watching this one?

I have been buying in as a BESBS play. Have been accumulating TSV for a while. The Warro Gas Project is the main play.

From a BESBS play, this has a bit going for it:

* drilling locked in, rig booked and moving to site.
* decent targets with plenty to follow up.
* opportunity for longer term income if drilling is successful
* WA need gas. Ready market near-by.
* To get a piece of this play, access is by Alcoa or TSV only.

Holding TSV


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## BESBS Player (18 November 2008)

An interesting article given the upcoming Warro Gas Project:

*WA gas demand to double*

*The DomGas Alliance in Western Australia commissioned a report from Economics Consulting Services. It shows that by 2014-15, the amount of additional natural gas needed in the state will be in excess of 1,100 terajoules daily, equating to a rise by some 100%. New projects coming online and requiring gas, as well as the looming renegotiation of existing contracts, will have an impact, and the demand is unlikely to be affected by the global financial crisis. Meanwhile ERM Power and Babcock & Brown Power have opened a new gas-fired electricity generation plant at Kwinana south of Perth*

http://www.businessspectator.com.au...-demand-to-double-L9248?OpenDocument&src=srch


Nice environment for TSV to be working in...

Holding TSV


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## BESBS Player (19 November 2008)

Looks like multiple drillings now on the cards:

'Latent Petroleum, Operator of the Warro Gas Project, has secured options over 4 additional well slots for the Ideal 1500 drill rig. This will enable further wells to be drilled at Warro with minimal delay following receipt of results of the initial Warro well.' (thanks to PLM)

Happily holding


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## mike85 (20 November 2008)

hey BESBS,
when does it look like drilling will start? i have had these in my watchlist for a while but havent paid much attention to them of late...
thanks 
mike


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## Profitseeker (23 November 2008)

Hi,

I read an article that says that the rig is currently been assembled on site. Drilling looks to be on target for mid december.


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## prawn_86 (23 November 2008)

Profitseeker said:


> Hi,
> 
> I read an article that says that the rig is currently been assembled on site. Drilling looks to be on target for mid december.




Care to source that article PS? Just to make sure its fact. Name, author anything along those lines

thanks

Prawn


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## PubLunchMan (24 November 2008)

Hi Prawn,

TSV's last announcement suggested drilling mid December:

http://www.transerv.com.au/media/066_Warro_rig_departs_US_for_WA.pdf

Furthermore,

http://www.abc.net.au/rural/news/content/200811/s2416277.htm

This one is just about guaranteed lunch money! 

Good luck all,

JB


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## BESBS Player (28 November 2008)

G'day Prawn,

As PLM suggests, late december should see some drilling action. Remember that the Warro program is appraisal work...much higher likelihod of success than the usual wildcat targets! As always, no guarantees but the chances are much higher. Add the fact that TSV are teamed in the project with a quality partner (Alcoa) with easy access to customers in a state experiencing a need for more gas...TSV looks the goods!

Happily Holding TSV


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## BESBS Player (24 December 2008)

Drilling now delayed until (most likely) late February. Warro is a potentially great project but now one for Q1 09.


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## BESBS Player (10 January 2009)

Looks like someone is starting to move TSV.  Could be drilling is closer than we think but I reckon we are now seeing some bigger players starting to get set before the drilling action  commences. The SP has risen and now held at 2.2c  

Enjoying the ride so far!

Happily holding TSV


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## DAZT49 (15 January 2009)

DJI has been holding this back a bit too.
Hopefully Obama's inauguration may give yankee punters some optimism,and give us a bit of a rally before TSV spuds.


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## BESBS Player (16 January 2009)

I like the way this is slowly gathering strength, Daz. It has held up well through a couple of bad days and is now making inroads towards 3c.
Hit 2.4c today.  Drilling news should give it another wind.

Holding TSV


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## BESBS Player (18 January 2009)

Top day on Friday...TSV hit 2.6c and a speeding ticket from the ASX police.

According to the TSV response, drilling due by end of January. This one is going nicely and looks like it has plenty of legs left.

Very Happily Holding TSV


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## PubLunchMan (18 January 2009)

Hi BESBS, 

The below media release from our operator suggests that there will be more than one well fractured in April. Drilling takes 35-40 days to complete. Timewise not a problem- back to back drills coming up IMO!

Media release from Latent Petroleum: 

2 December 2008

"The fracture stimulation process is expected to begin in April 2009, results from the wells should also be known by July"

http://www.latentpet.com/_content/documents/544.pdf


JB


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## BESBS Player (19 January 2009)

Interesting Pubby.

Double the action...double the potential fun! :

Had a real crack at 3c today before it fell back a bit. Might be an interesting end to the week for TSV.

Holding...


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## BESBS Player (22 January 2009)

TSV are holding well in the current market.
Shouldn't be long until we get spud news. This should give the SP the next boost.
Review by Peter Strahan's StockAnalysis was quite positive 

Very happily holding!


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## BESBS Player (22 January 2009)

PubLunchMan said:


> Hi BESBS,
> 
> The below media release from our operator suggests that there will be more than one well fractured in April. Drilling takes 35-40 days to complete. Timewise not a problem- back to back drills coming up IMO!
> 
> JB




Looks like we might have spudding some time next week. After reading the article PLM, and doing the calculations, one would think that there is plenty of scope for fraccing more than one well in the timeslot given we are dealing with a new rig. This will be a bonus for holders 

Looking forward to more action shortly. 2009 is already looking very nice 

Holding TSV


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## PubLunchMan (23 January 2009)

Hi BESBS,

Stock Analysis report is a fantastic read!

Extremely confident of success with the suggestion that they should be able to perform a captial raising close to 10cps after initial success at Warro!! 

When this news filters through the market sub 3cps will be history!!!

JB


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## BESBS Player (1 February 2009)

G'day Pub Lunch Man.

With the market jitters and the news of Argonaut selling some stock, TSV have IMHO held up very well. A sniff of fraccing success here and this one could rise quickly 

Holding TSV


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## BESBS Player (9 March 2009)

Not long now until TSV could get very interesting! Hope that the coin falls heads up!  Early gas signs nice to see...


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## Shrewd Crude (9 March 2009)

hey besbs,
Ive been watching TSV closely...
Today should be the day, as last Thursday was 100m off target zone...

I dont like the idea of raising cash mid drill...
A few years back the same thing happened with MEO when they were also drilling an appraisal well...
This time it looks much better with Alcoa as JV partner, and fracturing taking place right away...

.^sc


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## BESBS Player (11 March 2009)

Today's announcement was nice to see.

_WARRO #3 ENCOUNTERS STRONG GAS SHOWS
Transerv confirms that Warro #3 appraisal well entered the main reservoir section at approximately 3740mRT and is currently drilling ahead at 4257mRT in an 8  ½ inch hole. Strong gas shows have been recorded in the sands throughout the section from 3740mRT to the well’s present depth. MWD data suggest the Warro #3 reservoir section is very similar and correlative to the sections encountered in Warro 1 and 2 and a reservoir net to gross ratio of up to 75% is indicated. The Warro 1 and 2 wells intersected gas columns of 300‐400m, with net pay zones of over 200m.
The Warro #3 well is expected to reach its planned total depth by the end of the week at which time electric logs will be recorded. The fracture stimulation of the target gas zones will commence before the end of March and is expected to take 3 weeks to complete. This will be followed by an extended production testing during May and June.
Warro #3 encountered gas shows whilst drilling between 3,035 and 3,134mRT, as previously reported. These shows combined with the results of wireline logging provide a positive correlation to the shows and stratigraphy noted in Warro 1 and 2 wells at similar intervals. These initial gas shows combined with the strong gas shows in the main reservoir section support the geological model and provide a positive indication of the continuity of the structure and stratigraphy that forms the Warro Gas Field._

Got to wait to get some of the Sophisticated Investors out of the system but the outcome of Warro for TSV looking  better by the day!


Holding TSV


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## BESBS Player (13 March 2009)

Nice to see TSV rise today. Hoping that the new investors will hold for a while and let the SP continue to move northward. Time will tell but happy at the moment .


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## BESBS Player (16 March 2009)

Interesting to see the large volumes going through today. The SP seems to be hovering, trying to move northward but held back a little by the volumes for sale.

The recent placement will no doubt be adding to the selling side. After all, why would they hold back when they have the oppies?...they'll sell the full-price stock knowing that they have the options up their sleeve.

Once we get through this period (hopefully no more than 2-3 weeks), we will have a company that hopefully will have a successful Warro project (hopefully with great Warro-3 rates) and supplied with funds to move forward.

It was only a month or so back and the SP had dipped toward 1.4c. It is now 2.5c despite the placement. If the flow rates are as good as we hope, and we clear much of the stock from the recent placement in a couple of weeks -then we might see a surge in the TSV SP. Can't see it bolting in the next week or two but with some luck, it just might run after that. 


DYOR.
Holding TSV


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## BESBS Player (21 March 2009)

Not much has changed for TSV in the last few days. The SP is holding steady despite the heavy selling volumes. Given the new shares on issue, we still could have another 30m to go if all were sold. Can't see this one going anywhere for a week or so despite the latest positive announcement. Happy to wait until then and see what happens...

Holding TSV


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## The_Bman (2 April 2009)

Given TSV only holds 10% interest in the project, I can't see this taking off like Sunshine Gas did.


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## BESBS Player (7 April 2009)

Hi BMan.

Tend to agree with you. TSV is a different beast and we are in different economic times. I had forgotten about TSV, so I have included a post I made on Sharescene (guess people know who I am now if they care) on March 27 on the TSV thread:


*Decided to lighten again - sold some at 2.7c a couple of days ago. 
While I think that Warro looks very likely, I'm still happy to lock in 55% profits and leave a free-carried parcel. 
It looks like some of the big selling has eased but am aware that no discovery is ever guaranteed until is is proven and what will the big sellers do once a discovery is made? Will management do another placement that will kill a little of the potential SP growth? 
Not sure I guess is the answer... so given my risk aversion (although I often operate in the higher-risk end of the market) decided to cover my bases and remain free-carried.

Still holding some TSV*

I'm now happy to keep a free-carried parcel and watch how things eventuate. My apologies for not posting this earlier. All the best with your investments.


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## BESBS Player (15 April 2009)

Slowly building again. We are still a little time away from major news but it is nice to see buyers still interested. Maybe TSV will push toward 3c before major news? In this market, 3c could be as good as it gets until we have definitive news...


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## DAZT49 (24 April 2009)

This is from Latent website.
http://www.latentpet.com/_content/documents/554.pdf
Crucial Warro test to start next week
Wednesday, 22 April 2009
PARTNERS in the Warro gas project will soon discover if their efforts to coax production
out of the tight gas field have been successful with the completion of the full fracture
stimulation program on the Warro-3 well.
Minority partner Transerv said the frac program had achieved seven fracture stimulation stages over the
potential 280m net pay zone and injected more than 380 tonnes of proppant into the targeted gas sand
zones.
Coiled tubing will now be used to drill out the temporary bridge plugs set between each stage and to
clean out the well bore in preparation for the extended flow testing of the well, to start next week.
The flow test will be carried out for about 60 days with information on reservoir and gas characteristics
gathered for further analysis.
This information will be used to determine the commercial viability of the Warro project.
Alcoa of Australia is funding the evaluation program in return for a 65% interest in the project while
unlisted private company Latent holds a 25% stake. Transerv owns the remaining 10%.


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## DAZT49 (27 April 2009)

Its disappointing that TSV management didnt think that item was worth an ann. to the ASX.
We should get some kind of ann this week hopefully, if not just have to keep checking the www.latentpet.com site.


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## RP_Automotive (29 April 2009)

I wonder whats going on at Warro. Fracture program is complete. After that you have maybee few days to move frac equipment....Well testing equipment is another couple of days to get up and running. Then allow half day at most to establish stabilized rates.

I would have thought Latent/TSV/Alcoa would be quick to release some rates. Or maybee they are going to wait a few weeks and release a comprehensive report??


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## The_Bman (29 April 2009)

Looks like mid June:

Here is an extract from 21st  (source etrade):

It is currently expected that the extended flow testing program on the Warro #3 well will commence early next week. The flow testing will be carried out for approximately 60 days during which information on reservoir and gas characteristics will be gathered for further analysis. These flow test results will be very important in establishing the commercial viability of the Warro Gas Project.

I agree with the 3c resistance level pre production capacity report, it's been tested a number of times now.


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## The_Bman (4 May 2009)

New ASX release - Halt for 2 days pending initial results from gas flow testing - Wednesday should be interesting.


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## DAZT49 (4 May 2009)

They have certailnly played the cards close to there chest.
No real movement of late witht the SP so no "insider"stuff...
I guess we know the gas is there, and lots of it, just a matter of if they can get it out.


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## BESBS Player (4 May 2009)

Wednesday should be interesting, Daz. 
Still got a free-carried parcel. At least the trading halt has stopped the leaking of information...


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## DAZT49 (5 May 2009)

May get the ann today.
They dont have to wait the full 2 days, that is just ASX guide.
I dont see that the ann will be negative as they wont finish full testing for another 5 weeks.


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## The_Bman (6 May 2009)

TSV have requested another 3 days suspension for continuation of initial flow testing.

Have said:

"At this stage the flow back operation is in line with expectations"


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## sandybeachs (8 May 2009)

The_Bman said:


> TSV have requested another 3 days suspension for continuation of initial flow testing.
> 
> Have said:
> 
> "At this stage the flow back operation is in line with expectations"




i bought some at 2.1 cents a few weeks back.

just hoping flow rates match or beat expectations.

thus far it's been a perfect well without any hiccups, you can't really ask for much more.

in real terms the company has done the right thing by putting share into suspension. i'd imagine it would be hard keeping a lid on any results.

hence you'd probably see some insiders trading the share price, this way we are on equal level..


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## sandybeachs (12 May 2009)

*latest update now out*

trading halt now lifted.

not being an expert from what i can tell flow rate in line with expectations.

comments welcomed
*WARRO 3 – UPDATE ON FLOW TESTING*
Flow testing of the Warro 3 well commenced Saturday, 2 May and has continued for 9 days, with the full flow testing
program expected to take up to 60 days. The well is flowing substantial quantities of both natural gas and frac fluids. As
planned, the Operator has undertaken various activities to assist the cleanup of the well bore, including nitrogen lift and
varying the choke.
A gas flow rate of two million one hundred thousand cubic feet per day (2.1mmcfp/d) at a well head pressure of 325 psi
was achieved when the choke was opened to 58/64ths, without the assistance of nitrogen. The fluid flow rate at this
time was 1,565 barrels per day. Throughout the testing period the gas flow rate and well head pressure have been
steadily increasing, and the ratio of fluids to gas steadily decreasing, indicating that the well is cleaning up.
*Commentary*
The results to date are encouraging and in line with expectations, albeit recovery of the frac fluids is taking time. It is
important to note that the potential gas flow rate is expected to be significantly higher once the recovery of frac fluids
ceases, as this inhibits gas flow. Further, the well has demonstrated an ability to flow gas to surface without the
assistance of nitrogen lift notwithstanding the presence of the frac fluids.​

The Operator‘s pre
‐well planning allowed for up to 3 to 4 weeks to clean up the well and this now appears a reasonable
estimate. Until the frac fluids stop flowing back and the well cleans up, it is difficult to estimate the likely stabilised initial
gas flow rate of the well.
The Company will provide regular market updates on the ongoing Warro 3 flow test program.​​_For and on behalf of the Board_​
​


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## prawn_86 (12 May 2009)

Not bad flow rates there actually. I guess the question now is, what will the rates level off at, and how long will the feild last for? And how will they tie it in to the grid?


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## RP_Automotive (12 May 2009)

2mmscf isnt bad though considering its still cleaning up. I think by weeks end we'll have a clearer picture. I hope that fluid rate drops off significantly though.

More valuable information will be when a shut in is done and buildup data gathered - That will tell everyone alot about the reserve.


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## DAZT49 (12 May 2009)

Its a good ann, with a terrific initial flow IMO and hope of increase.
I love it when things go "in line with expectations".


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## BESBS Player (12 May 2009)

Still early days but agree with Daz (and the market today) - it does look positive. As you say RP, if we get a good result after clean-up, TSV will move northward again! 

Still holding a free-carried parcel.


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## sandybeachs (13 May 2009)

prawn_86 said:


> Not bad flow rates there actually. I guess the question now is, what will the rates level off at, and how long will the feild last for? And how will they tie it in to the grid?




what will the rates level off at, 

one gets the feeling >2MMCFGPD, they've had a great team working on the well and it's been basically flawless.

and how long will the feild last for? 

though question, in general though they are hoping for 2 ~ 3 TCF, operating at approx >2MMCFGPD per well X by over 100 wells being drilled and completed which would take many years. guesstimate 10 years plus.

And how will they tie it in to the grid?

Pipeline licence is granted to facilitate the transportation of gas from the Warro Project to the Parmelia and Dampier to Bunbury gas pipelines.


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## sandybeachs (13 May 2009)

*worth considering this buyout Latent Petroleum..??*

on the basis that Warro Gas Project is successful, thus far things are looking fairly good.

perhaps TSV could consider buying out Latents 25% interest..

this would then give TSV 35% interest in Warro Gas Project, rather than it's current 10%.

also, they could consider a name change "Latent Petroleum"..????

so what could Latent be offered..????

cash & shares.

then the cherry on top of the cake would be a consolidation perhaps 1:100, depends upon how many shares are on issue after buyout. 

what do you reckon..????


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## sandybeachs (13 May 2009)

*Re: worth considering this buyout Latent Petroleum..??*



sandybeachs said:


> on the basis that Warro Gas Project is successful, thus far things are looking fairly good.
> 
> perhaps TSV could consider buying out Latents 25% interest..
> 
> ...




it may be one of the things on the wish list.

depends on what happens in the coming month or so.

IMO Latent will have to do one thing or the other:

1) try listing on the ASX by it's own.

2) consider a buyout from someone like Transerv Energy.

if the terms were good a buyout would be good for TSV shareholders.


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## sismek70 (21 May 2009)

slowly but surely...

Today's Announcement

> Comparing results from May 12th to today's results, a 50% increase in gas flow rate on the 40/64ths choke, and fluid rate halved. Upon the operator setting 58/64ths choke I'm expecting then at least ~3-4mmcf

> steady increase in well head pressure

> shut in period the well head pressure went over 2500 psi within 48hrs

> increasing gas to fluid ratio

> noted very encouraging the lab analysis - shows recovery fluid is combo of water and frac fluids - the persistent decline in fluid suggests recovery of formation water is likely limited.


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## BESBS Player (31 May 2009)

I believe that TSV should be starting to test each individual level next week so we might start to get more specific flow rates coming through soon.

In my case, I have sold half of my free-carried stock last week (ironically for the same price as I sold original holding in early April) but will leave the remaining shares to ride for a while.

As I said on April 15, *"In this market, 3c could be as good as it gets until we have definitive news..."* So far this seems to be true. Once results are finalised, assuming good news, then we should see some action...


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## BESBS Player (15 June 2009)

Although not definitive as yet, all the news out of Warro tends to be pointing in a positive direction. TSV is now pushing the 3c barrier. As I have said before, we need definite news to move beyond this. 
I suspect that we might not have long to wait 


Still holding a free-carried parcel of TSV


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## BESBS Player (21 June 2009)

We must be getting close now to some flow test results from Warro.
This could be an interesting week for TSV...


Holding 50% of a free-carried parcel.


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## BESBS Player (23 June 2009)

Have decided to sell out of TSV. While much potential remains, I think my funds are better used now to get set elsewhere at the moment. All the best to holders.

Ave. 55% profit so happy with the deal 

BESBS PLayer


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## DAZT49 (24 June 2009)

BESBS,
I think you may have been a bit premature, but you can jump back on quick enough if good news comes thru re the water.


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## sismek70 (11 July 2009)

fluid flow rate: 

12 May - 1565 bopd 
18 May - 750 bopd 
21 May - 550 bopd
29 May - 400 bopd
8 June - 405 bopd
22 June - same as over past 2 weeks. ~400?		

Three isolation plugs should be removed now.

Next week - start flow test from all 6 frac zones again (purpose of this?? because Alcoa want to)

Then decision to remediate water intrusion (cement squeeze, why haven't they gone with this option already? too risky with formation damage?) and/or frac stim the untested zones 7 and 8.

still holding, go TSV  

with about 50% located under freehold land
and 50% under the Watheroo National Park.

Applications of the squeeze cement
job
One of the major reasons for a failed primary
cementing job is poor mud displacement, which
causes the cement slurry to channel through the
drilling mud. Consequently, voids and pockets or
channels are left behind the casing, resulting in
insufficient hydraulic isolation between the
various permeable zones. If this condition is left
uncorrected more problems are likely to arise:
• cross-flow between formations which are at
different pressures; and
• potential contamination of freshwater
aquifers.
These problems can impact on the environment.
Other impacts such as those affecting the
production potential of the well are outside the
scope of this report.


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## DAZT49 (24 September 2009)

If anyone is feeling a bit cool about TSV and Warro's prospects, warm your toes on this little flame.
http://www.transerv.com.au/index.php?option=com_content&task=view&id=63&Itemid=55


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## psychic (20 October 2009)

There hasn't been one post on the TSV thread for nearly 1 month, so I thought it might be time to bump the thread after recent activity.  Warro 3 Well has had an update of gas flows with water issues.  Share price dumped on this news from 2.7 cents to as low as 1.5 cents.  

Current share price is 1.6 cents with an update soon in regards to this well, and future drilling of Warro 4 and 5.

Hope to see a rebound in share price very soon.

*Disclamer: I own TSV shares at a current average price of 1.7 cents*

Check out the 3 month chart below.  The gap down from 2.7 cents to 1.8 cents must be closed at sometime in the future as trading laws suggest


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## psychic (21 October 2009)

Volume is the key with TSV, there is no volume at the moment which is now a great sign that all the sellers have dried up.  Might be worth entering a trade while the volume is low, and exit TSV when the volume builds


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## Trader Paul (22 October 2009)

Hi folks,

TSV ... expecting positive price moves, as 3 positive time cycles
come into play, over the next couple of weeks:

27-28102009 ..... positive spotlight on TSV

3010-02112009 ..... positive news expected here ... 

11-12112009 ..... positive cycle ... finance-related ... ???

..... and expect TSV to be booming, around 05-08022010, as well.

happy trading

paul



=====


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## DAZT49 (25 October 2009)

trader paul,
I dont recognise the system you are using.
What is that?
IMO TSV will stay where it is until they spud the next well, and that seems to be early 2010.


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## psychic (25 October 2009)

Could well be a few announcements before early next year, so I would suspect the share price to move around quite a bit before then


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## DAZT49 (25 October 2009)

Have they given up on the first well altogether?
I cant recall any ann re the concrete squeeze job, did they do that?


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## psychic (26 October 2009)

*As stated in the last announcement "The Warro Joint Venture partners are currently reviewing the alternatives for any further testing on the Warro 3 well"*


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## psychic (9 November 2009)

Checking on the TSV chart suggest that a squeezing of bollinger bands which represent volatility is occuring now.  When this happens it usually suggests that a major move will present itself.  Which way is the question???


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## psychic (11 November 2009)

Surely some news is due out before TSV has its AGM on 26th Nov. or else there will be some un-happy shareholders wanting answers to why the share price has dropped 50% over the past month and what they plan to do about it.


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## DAZT49 (11 November 2009)

psychic,
SP dropped 50% cos the well was a "production" failure.
Water spoilt the party.
On the upside the last ann said..
"Upon completion of the final technical review of Warro 3, the presence of these natural fractures that have produced water
will be addressed in two ways in the planning and drilling of future appraisal wells. Firstly, large areas of the field appear
unaffected by existing fault structures and the future evaluation work will now be focussed on these areas. This work is
expected to comprise the acquisition of a 3D seismic survey in conjunction with further drilling. The 3D seismic data will
provide a high fidelity image of the faulting in the field.
Secondly, many tight gas fields produce water along with the gas and handle this mix effectively through the appropriate
completion design. The Warro 3 completion was not of this type but future wells will use the Warro 3 experience and ensure
any water can be efficiently removed from the well, to not inhibit the gas flows achievable from the reservoir."
The section .."Firstly, large areas of the field appear
unaffected by existing fault structures and the future evaluation work will now be focussed on these areas. " indicates the next well will be placed in a more favourable position.
I do wonder why they didnt do a more comprehensive "cement squeeze" job tho, perhaps they may in the future.


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## psychic (11 November 2009)

We still have "Warro 4 Well" to be drilled shortly and this is fully funded by Alcoa, so can the share price drop any further?


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## DAZT49 (11 November 2009)

yes.
the market is a strange beast.
I bought in a couple of years a go @3.9c....they didnt have anything then!!
Cant see they will start the next well till 1st qtr 2010.
All good LT tho....I hope.


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## psychic (18 November 2009)

A big chunk of TSV shares @ 1.6 cents were gobbled up in 1 trade on TSV just moments ago and market depth has changed dramatically from bearish to very bullish


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## DAZT49 (18 November 2009)

2 million shares in one hit..$32k investment!! Iwould have thought thats a fair size bet on a (still) speccy.
Wouldnt mind a few more myself,but no funds.


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## psychic (18 November 2009)

That is a significant holding on spec stock, but considering we all know that Warro 4 well will be drilled shortly fully funded by Alcoa, then its money well spent


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## DAZT49 (18 November 2009)

psychic said:


> That is a significant holding on spec stock, but considering we all know that Warro 4 well will be drilled shortly fully funded by Alcoa, then its money well spent




Thats what I thought when I bought in at 3.9c lol
I could be a while before the next drill if they are using Weatherfords rig 826 again.
Empire Oil and Gas are about to spud Gingin West 1 using that rig,with an option to follow up with Gingin West 2 and are stating 35 days to drill and test each one. Thats a min 3 months before the rig would be available...so late Feb is the earliest they could get that rig on site imo


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## DAZT49 (23 March 2010)

up 36% on 15.7mill sales($262K) to 6 months high.
No anns to market as I could see, anybody got any thoughts
Another 2c rise and I am square!!


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## DAZT49 (8 June 2010)

psychic,
Looks like its you and I mate.
Any feel for when we may get some kind of update?


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## philly (19 July 2010)

DAZT49 said:


> psychic,
> Looks like its you and I mate.
> Any feel for when we may get some kind of update?




Hey, DATZ49 and psychic the update came today and I brought a chunk of TSV today on the back of the announcement that Alcoa would commit $20m into Warro 4 and some seismic survey.
There has been some good progress in the USA in relation to fraccing especially in the Eagleford [I also hold AUT] it is important that TSV seek out the professionals to maximise the results.
With you all the way


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## philly (26 December 2010)

On 24/12/10 TSV announced that it will increase its stake in the Warro gas field from 10% to 35% and become the operator by acquiring the 25% interest held by Latent Petroleum. Work is planned for the 1st half of 2011


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## DAZT49 (26 December 2010)

philly,
great news imo
TSV should be able to be a stand alone company in the future, and not be tied to Latents apron strings.


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## DAZT49 (26 December 2010)

Highlights
Consolidation of the Warro Gas Project
•
Increase in participating interest to 35% and Operatorship ...yeehaa
•
Increase in free carry to $100 million in expenditure by Alcoa...great!!
•
$9 million of farm‐in cost savings for Transerv...love it 
•
Drilling of Warro 4 and 3D seismic program now both confirmed for 1H 2011  ...bit slow with this but i like CONFIRMED 
50% interest in new Alberta Project  .....oooga booga!!
•
New Canadian oil, gas/condensate project .....love the canuks!!
•
Play analogous to highly successful Cardium and Bakken plays located nearby....inkydinky 
•
Proven hydrocarbon reservoir with production history ...comon 2011!!
•
Drilling to commence in Q1 2011...I am getting dizzy...could be too much xmas pudding 
Benefit of Amazon well retained for existing shareholders OMG!!
Highly regarded management team to join Transerv...hmmm regarded by whom??

Share dilution to Transerv (2 to 1) is less than the increased interest in Warro (2.5 to 1) before allowance for the improvement in the free carry...If you believe the maths ...I do !!
Alberta Project is being paid for by Transerv options which are conditional upon success (a 2m boe C2 resource being achieved) ...thank you Santa  :


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## philly (27 December 2010)

I think that management has looked after us well in providing that only existing TSV shareholders will benefit from any success in the Amazon.
As was stated last Friday
"The terms of the Transaction preserve the interest of existing Transerv shareholders in the Amazon well, which is expected to be drilled in January 2011. Latent vendors will not participate in the distribution of any benefits from success at the Amazon well, i.e. the converting shares being issued to the Latent vendors will convert to ordinary shares only after Transerv is able to distribute the proceeds from sale of the Amazon project to its shareholders (if the well is successful)."

With the well expected to spud in early January there may be a run on the SP before the spud date  Further good news during drilling should also stimulte the SP  And ultimately if the well is successful  I would anticipate that one of the JV partners would acquire TSV's interest and lead to a distribution of the proceeds of sale to the existing shareholders. IMHO all good news but DYOR. I am a holder.


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## philly (7 January 2011)

two announcements today which IMHO are at odds with each other.
First this morning:
Transerv Energy Ltd is pleased to announce the Warro Joint Venture has received formal funding approval from Alcoa of Australia for up to $22million of expenditure to undertake the drilling and testing of the Warro 4 well and a 3D seismic program over the Warro Project area. The seismic work is expected to commence in February and be followed immediately by the drilling of Warro 4 which is expected to start in April, 2011. Preliminary works for both projects are well advanced.

Pursuant to the announcement on 24 December 2010, detailing the merger of Transerv with Latent Petroleum Pty Ltd, the combined entity will hold a 35% interest in the Warro Gas Project and is free carried for the first $100m of expenditure on the project as funded by Alcoa. Alcoa is earning a 65% interest in Warro by funding a $100m staged evaluation and construction programme that includes drilling wells, constructing production infrastructure, and conducting a seismic survey. 

Secondly after the market closes:
TSV requests a trading halt pending an announcement regarding a capital raising

OK so my take interpretation is that Alcoa is putting in $100m before TSV need to contribute anything. 
And remember there is currently a rights entitlement offered to existing shareholders which will also add to the coffers. 
So on one view there are sufficient funds available  to progress the Warro project.

In relation to the Amazon project I believe that is fully funded

So why the need for a capital raising now?


Can anyone offer any plausible explanation for these 2 announcements? Thanks


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## philly (12 January 2011)

philly said:


> two announcements today which IMHO are at odds with each other.
> First this morning:
> Transerv Energy Ltd is pleased to announce the Warro Joint Venture has received formal funding approval from Alcoa of Australia for up to $22million of expenditure to undertake the drilling and testing of the Warro 4 well and a 3D seismic program over the Warro Project area. The seismic work is expected to commence in February and be followed immediately by the drilling of Warro 4 which is expected to start in April, 2011. Preliminary works for both projects are well advanced.
> 
> ...




TSV announced this morning that it had raised $6.08m by issuing 380m shares at 0.016 cents to the institutions and "sophisticated" shareholders. The funds are to be used for general working expenses.

I am still confused as to the need for this capital raising at this time.  TSV is free carried the first $100m by Alcoa in relation to Warro and you would think that it has sufficient funds for the Amazon project which according to earlier ASX reports should be near the spud date.

What is of concern to me is that the share dilution caused by the issue of a further 380m shares for a modest sum of $6m [in terms of exploration costs] will have a detrimental effect on the SP. Unfortunately, it seems the ordinary "unsophisticated' shareholder cops it again. Not so happy ATM


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## philly (17 January 2011)

The ASX listed partners in the Amazon prospect, Tango Petroleum Ltd (ASX:TNP), Quest Petroleum NL (ASX:QPN) and TRANSERV ENERGY LTD (ASX:TSV), are pleased to confirm that the Marian Baker #1 well commenced drilling on Sunday, 16 January, which is the initial test well on the large Amazon Prospect.Amazon is regarded by the Operator, Caza Oil and Gas, Inc. (TSX: CAZ) (AIM: CAZA), to be a multi-segment prospect, with prospective reservoirs supported by AVO data within a proven play fairway. The Marian Baker #1 well is expected to encounter multiple, potential, hydrocarbon bearing reservoir sections and take approximately 50 days to reach total depth. The Amazon prospect is a large exploration target assessed by independent consultants ISIS Petroleum to have a 35% probability of success. The Amazon Prospect has an estimated mean recoverable potential of 375 billion cubic feet of natural gas and 37 million barrels of oil.

You gotta be in it to win it
Good luck to all holders


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## springhill (7 August 2012)

*Re: TSV - Transerv Energy*

*Transerv Canadian Unconventional Oil Assets Receive Major Value Boost*

Transerv Energy advise that drilling and testing results just released by operators of adjacent acreage have confirmed the value potential in the extensive land holdings held by Transerv’s subsidiary Carnaby Energy Ltd in the heart of the emerging Montney tight oil play in British Columbia, Canada. Transerv holds a 55% interest in Carnaby. Carnaby’s Montney land holdings in the area of interest comprises over 20,000 net acres. Independent assessments have estimated the resource potential of this acreage over 750 mmbbl in‐place, with potential recoverable reserves of 50‐75 mmbbl net to the Transerv Group.

*New Montney Well Flow Rates*
Information recently released by Crew Resources and Arc Energy include results from five wells which have produced over 300 barrels of oil a day (bopd) each, with one yielding over 900 bopd from the Montney. One of these wells is only two miles from Carnaby’s lands. These results, along with previous independent assessments of the area, confirm the immense commercial potential of Carnaby’s Montney acreage in which Transerv holds a majority stake. Carnaby is currently working to define a number of priority drilling locations as part of its initial Montney drilling program.
*
Montney Unconventional Oil ‐ Analogous US Plays*
The liquids yield and scale of the Montney oil play is similar to the Eagleford and Woodbine (“Eaglebine”) trends in the USA where tight reservoirs have provided substantial oil reserves growth through the application of horizontal well and multistage fracture stimulation technology. There are clear analogies with the USA plays where early exploration was aimed at gas but later moved to gas/condensate and then oil prone rocks. The Montney operators have previously concentrated on the gas, gas/condensate regions and only very recently started to look at the oil prone areas. In the USA, asset values and land prices have escalated rapidly as attention was turned to the liquid rich areas. This phenomenon was recently observed in Canada with the Duvernay trend and the Montney oil play is expected to provide a similar opportunity for the Transerv Group.


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## DAZT49 (27 August 2012)

Hartleys report on TSV, very upbeat!! 
http://www.transerv.com.au/images/stories/2012-08-27_TSV_Hartleys_Research_Report.pdf

hartleys do get a bit carried away, but if you read the report, plenty of action in the next 12 months.:


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## raimop (16 September 2014)

On 16/9/14 TSV reported that through its Canadian subsidiary Carnaby Energy, it had sold some of its lands in British Columbia ('BC'). 

The sale of the Montney interests (previously called Tower, Two Rivers and Alces) and their producing assets. was to an *un-named Montney focused Canadian Company*. The purchase price was C$15 million which TSV will receive half in cash and half in shares in the Purchaser. 

Notwithstanding the sale Carnaby remains an active participant in the rapidly emerging and highly prospective Montney Resource Play and has recently acquired an additional 25 sections (~10,500 net acres ) along the same trend from the lands it just sold. It also has an indirect interest via its C$7.5 million worth of shares in the Purchaser.

Hopefully the proceeds will not all be used in Canada and some funds are used in the development of the Warro in the Perth Basin WA.

I HOLD


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## raimop (20 September 2014)

This article was posted on the seekingalpha website. It is bullish about the Montney. And does it disclose the previously un named purchaser of TSV interests in Montney?

*Canada's Shale Boom: More To Come In Montney
Sep. 19, 2014 5:22 PM ET  *

In the world of a constantly changing oil and gas environment, the Montney shale basin is the sleeping giant that holds the key to accelerating Canada's shale oil and gas boom, but the real treasure within this giant is a tight liquids-rich zone (approximately 15-20 miles wide) that has big and small players alike narrowing their focus for the potential of a giant payout.

A pervasive hydrocarbon system in the Western Canada Sedimentary Basin (WCSB) in Alberta and British Columbia, the Montney is estimated to hold 2,200 trillion cubic feet of gas, almost 29 billion barrels of natural gas liquids and over 136 billion barrels of oil. But it is the tight liquids-rich fairway (approximately 15-20 miles wide) that contains high concentrations of both free condensate and natural gas liquids that everyone is pursuing in what may very soon be one of the largest commercially viable plays in the world.

Investors aren't exactly shying away from the challenge, and the overall trend within this large basin is a shift towards liquids-rich areas, which is what the Middle Montney (the middle portion of the Montney resource) is all about.

Initially, companies targeted the Upper Montney, and the entire formation was viewed more as a dry gas play with high productivity and immense gas in place. Through the technological advances that have begun to move up to Canada and a general de-risking of the play, the Middle Montney is proving that there is a very large liquids-rich fairway available, with a potential for incredible returns and economics.

Canadian supermajor Encana (NYSE:ECA) - a Montney shale heavyweight - is focusing its drilling to the east of the formation. Last year, Encana announced it would spend over 25 percent of its capex for 2014 on the Montney, and the liquids-rich plays in the eastern area will get the lion's share of this, with 80-85 new wells planned for this year alone.

There are also a number of growing mid-cap players and one micro-cap honing in on this liquids-rich scene and benefitting from supermajor drilling, including mid-cap NuVista (OTC:NUVSF, NVA.TO) and micro-cap Blackbird Energy (OTC:BKBEF, BBI.V).

Earlier this month, NuVista signed a deal to purchase another 12.5 gross sections of undeveloped land in the Montney's liquids-rich zone, which puts its total at over 220 gross sections, while Blackbird has 117 sections of multi-zone Montney rights - again, with a focus on the liquids-rich zone.

It's a very fast-paced game of follow the leader.

When Encana drilled a well in a previously unproven Middle Montney area and came up with two very economic Middle Montney wells that both had condensate gas ratios of approximately 100 barrels of oil per million feet of gas, Navistar responded by immediately buying up land in the vicinity, driving prices up over $2.9 million per section. Blackbird followed suit, capturing a 36-section land position right between Shell and Encana and next to NuVista, which drilled a well with 2,195 boe/d.

And while there is still land available here, prices are rising fast, which makes the situation interesting for the small player like Blackbird Energy, which finds that its land value alone is higher than its current market cap.

Explorers and producers are surrounding the Middle Montney in a pincer movement, and liquids-rich sweet spots are shaping up to be the key to unlocking this next North American treasure chest. And the end of the day, the amount of shale gas under Montney's surface would be enough to supply Canada's needs for 145 years, making it one of the top basins in the world, outdone only by Qatar.


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## raimop (3 October 2014)

On 2/10/14 TSV as operator of the Warro Joint Venture (WJV) reported that it received approval to proceed with the next phase of drilling at the Warro gas field in Western Australia. This phase will comprise the drilling of Warro-5 and Warro-6, including extended well testing.

This program is being funded by Alcoa of Australia Limited (Alcoa) as part of an existing farm-in arrangement whereby Alcoa can earn up to a 65 percent interest in the gas field through expenditure of up to $AUD 100 million.

The timing for drilling is dependent on the availability of drilling equipment and various Government approvals. As previously announced, the WJV is well advanced in its planning activities and has already lodged the Environmental Plan for the operations. In addition, work on identifying drilling long lead items and a rig procurement process is well advanced. TSV expects to commence drilling operations during the first half of 2015, subject to timely approvals

I HOLD


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## System (7 July 2017)

On July 6th, 2017, Transerv Energy Limited (TSV) changed its name and ASX code to Whitebark Energy Limited (WBE).


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## greggles (19 September 2017)

Whitebark Energy seeing a little momentum now after yesterday's announcement reporting about hydrocarbons being found in the Xanadu 1, Sparky and Nordegg wells.


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