RISC Doubles WA's Warro Gas Field Contingent Resource Estimate to 2.4 Tcf

Transerv Energy disclosed Thursday that an independent assessment has increased the size of its Warro onshore gas field in Western Australia (WA) by over two times. The field is located approximately 124 miles (200 kilometers) north of Perth in RL’s 6 and 7.

The new figures provided by RISC Advisory (Table 1) indicate a Contingent Resource Low estimate of 2.4 trillion cubic feet (Tcf) of total gas initially in‐place (GIIP) which is approximately double the amount previously assessed by Gaffney, Cline & Associates prior to the Alcoa farm‐in work. This category is deemed to be the lowest‐risk portion of the Resource and would be the basis of any project development.

The RISC assessment has increased the GIIP estimate to 11.6 Tcf on a 100 percent basis. This is an increase of over 15 percent to the upside GIIP figure of approximately 10 Tcf provided by the Shanley Review.

The new Resource estimates follow the two latest highly successful wells which were drilled at Warro as part of the program funded by Alcoa of Australia whereby Alcoa may earn up to 65 percent of the project.

Table 1: Warro Gas-In-Place Tcf - Gross

  • Unrisked
    • Contingent: Low - 2.4; Mid - 3.2; High - 4.3
    • Prospective: Low - 2.0; Mid - 4.1; High - 7.3
    • GIIP: Low - 4.4; Mid - 7.3; High - 11.6

Table 2: Warro Field Potential Recoverable Tcf - Gross

  • Unrisked 4.4 billion cubic feet (Bcf) per 20Ha
    • Contingent Resources: P90 C1 - 1.3; P50 C2 - 1.5; P10 C3 - 1.8
    • Prospective Resources: P90 C1 - 1.3; P50 C2 - 2.3; P10 C3 - 3.6
    • Total: P90 C1 - 2.6; P50 C2 - 3.8; P10 C3 - 5.4

Although accurate estimates for well deliverability will not be available until testing of Warro‐5 and 6 is completed, previous estimates done as part of the Shanley Review indicated that wells drilled on a 20‐hectare spacing could be expected to yield between 4‐10 Bcf per well. The estimate of field unrisked recoverable resources (Table 2) has been done assuming 4.4 Bcf per well with a spacing of 20 hectares.


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