COMPANY UPDATE

Warro JV Moves Forward in 2017

WARRO JV

Transerv is pleased to announce the 2017 work programme for the Warro JV has been approved as part of the farm-in by JV partner Alcoa of Australia.

As previously advised to the market, the first stage of the program will focus on reviewing the recent well results from Warro-5 and 6 in conjunc8on with the informa8on gathered from Warro-3 and 4 to iden8fy sand(s) that are likely to produce commercial flow rates from an alterna8ve drilling technique.

If the technical review supports the drilling of new wells, the JV will move forward to determine the most appropriate way to execute the program.

Transerv notes the recent press statement from Alcoa Corpora8on in rela8on to the impairment charge it has recorded against its WA gas assets and advises that the Company will review the carrying value of its Explora8on and Evalua8on Assets in the normal course of preparing the Company's half year financial statements.

For an on behalf of the Board

05 January 2017

Transerv Energy Limited published this content on 05 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 January 2017 00:57:10 UTC.

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