(MENAFN- ProactiveInvestors - Australia) Transerv Energy (ASX: TSV) will participate in the drilling of shale oil and gas wells on the Duvernay Trend in Alberta early in the December 2012 quarter.
Activity in the region has picked up in recent months with three wells producing liquids at rates ranging from 70 to 200 barrels per million cubic feet of gas per day.
Major companies such as ConocoPhillips, Encana and Talisman have all carried out operations recently with Talisman starting drilling into a section adjacent to where Transerv is located with Black Swan Energy.
Transerv had in April raised A$5.4 million for its Canadian operations, with its Duvernay and Rock Creek assets holding net potential resources of 30 million barrels of oil equivalent.
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