TSV 0.00% 0.8¢ transerv energy limited

From the latest announcement "Warro Project Background The Warro...

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  1. 803 Posts.
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    From the latest announcement

    "Warro Project Background The Warro field lies 200km north of Perth in the Perth Basin and is one of the largest undeveloped onshore gasfieldsin Australia. Transerv currently has a 57 per cent stake in Warro and is the project operator. Alcoa is earning up to 65 per cent under a farm‐ in agreement, by funding $100 million of exploration and development work at Warro. Warro 5 and 6 have been drilled and tested as part of the Alcoa farmin arrangement. Based on expenditure to date, Alcoa have the right to an interest of approximately 63.5%. "

    Does this mean that the $100 mill has almost gone!!!
 
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