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BESBS Player

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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 :)
 
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:)
 
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
 
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
 
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.
 
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.
Click to expand...

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

thanks

Prawn :)
 
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!:cool:

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

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 :)
 
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
 
Interesting Pubby.

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

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

Holding...
 
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!
 
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
Click to expand...

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 :cool:

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

Holding TSV
 
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
 
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
 
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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