Transerv Energy Ltd., West Perth, said it plans to drill exploratory wells starting about midyear in the Duvernay and Rock Creek plays to assess its Canadian unconventional oil and gas assets.
The company also has interests in the Montney and Mannville plays, where it anticipates drilling starting during this year’s second half.
Stephen Keenihan, Transerv managing director, said the Australian firm plans to issue shares to raise an anticipated $5.4 million to finance its Canadian exploration programs.
“The time has now come for the company to confirm the enormous potential of these assets,” Keenihan said.
