Argonaut acted as Advisor to the $26 million merger between Transerv Energy Limited and Latent Petroleum Pty Ltd. in 2011. Transerv Energy Limited, formerly Transerv Australia Limited, is an Australian gas exploration, production and development company with assets in Australia and Canada. The merger entails Transerv Energy Limited acquiring the 35% interest and operatorship of Latent Petroleum’s shares in the Warro Gas Project in Perth, one of the most underdeveloped on-shore projects in Western Australia with the potential to supply more than 10% of the region’s gas consumption.
In 2017, Transerv Energy Limited changed its name to Whitebark Energy Limited (ASX: WBE). By 2018, Alcoa Corporation, which originally owned 65% of ownership shares in the Warro Gas Project, returned all its shares, giving Whitebark Energy full ownership and interests in the Warro Gas Project. Alcoa Corporation is an American global industrial corporation know as one of the largest producers of Aluminum. Whitebark Energy Limited also has a working interest in the Wizard Lake Oilfield in Alberta, through Salt Bush Energy Ltd, a wholly-owned Canadian subsidiary of Whitebark Energy Limited.
Argonaut | Perth
Level 30, Allendale Square, 77 St Georges Terrace Perth, WA, 6000 Australia
ABN 72 108 330 650
SFC CE No. AXO052