Natural flow at Warro for TSV

Published at Mar 10, 2016, in Energy

Transerv Energy (ASX: TSV), the WA-based gas explorer, has announced that both its Warro wells in the Perth basin now have natural flow.

TSV is moving closer towards completing the ongoing well testing programme funded by Alcoa as part of its’s project farm-in arrangement. Both Warro-5 and 6 are in the onshore Perth Basin, which has been tipped as one of the more promising petroleum basins onshore Australia. TSV has a 35% stake in the field, with industrial giant Alcoa holding 65%.

Earlier this week, TSV said that Warro-5’s flow rate has slowly increased to 0.52mmcfd (million cubic feet per day), while “accompanying water rates have steadily declined to 290bwpd (barrels of water per day). A decreasing rate of water production is generally a positive sign for gas exploration, indicating that wellhead pressure can remain stable and conducive to reliable gas production.

Two weeks ago, TSV updated its shareholders that its Warro-6 well was flowing naturally following the completion of maintenance work as part of the well clean-up stage. At the time, TSV was working quickly to get its Warro-5 well into natural order by utilising jet pumps which help to remove unwanted water therefore allowing gas to flow unimpeded.

At Warro-6, TSV reports that the gas flow rate is now averaging 0.62mmcfd with associated water flow now at 240bwpd, and declining. Merely four days prior, Warro-6 was averaging 0.7mmcfd with water rates at 300bwpd.

Warro history

The Warro gas field was almost doubled in November last year following an independent report from RISC Advisory. In the report, RISC estimated a Contingent Resource Low estimate of 2.4Tcf (trillion cubic feet). RISC also increased Warro’s GIIP estimate to 11.6 trillion cubic feet – a 15% increase on the previous estimate provided by the Shanley Review.

TSV’s development work aims to get the two wells cleaned up and ready for stable production.

Warro-5 was drilled down to 4422m at the end of September, hitting a gross gas-bearing interval of 175m.

Warro-6 was completed down to 4462.5m (a gross interval of 315.5m), which is deeper than Warro-5 because TSV wanted to test deeper horizons that were never previously explored.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Facebook
Twitter
LinkedIn