Transerv increases Montney acreage

New acreage: Transerv has picked up more land in British Columbia through its majority-owned Canadian subsidiary Carnaby Energy

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Josh Lewis

 21 January 2013 09:27 GMT

Australia’s Transerv Energy has gained a further 3846 acres of land in the Montney oil trend in British Columbia at an average price of A$47 (US$49.42) per acre.

The company acquired the acreage through its 64%-owned Canadian subsidiary, Carnaby Energy, which now holds 54,111 net acres in the Two Rivers area.

Transerv said nearby well results had shown high liquids yields of between 260 and 908 barrels of oil per day or 130 barrels of condensate per million cubic feet of gas per day.

An independent review by assessors McDaniel & Associates recently estimated that Carnaby’s Montney potential, prior to the latest acquisition, held a best estimate contingent resource of 2.8 million barrels of oil equivalent and a best estimate prospective…

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