Transerv energy is bidding for Origin Energy's Perth basin assets,notably 50% of the Waitsia gas field near Dongara.Best known as operator of the massive but complex warro tight gas field near moora,where customer Alcoa is earning a 65% interest,Transerv hopes it's Perth basin experience and financial backing will stand it in good stead in the Origin auction.But exactly how Transerv,a 16 million $ company,chaired by Charles Morgan,expects to fund it's bid remains unclear.
Ord Minnett analysts value a 50℅ share of waitsia owned by AWE at 84 mill.
Origin wants to have the process done by June 30th,which some say is ambitious.
TSV Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
