Hi Lautrec - Thats pretty much what i have been asking, but i...

Hi Lautrec - Thats pretty much what i have been asking, but i wasn't fussed on the Alcoa side, just the TSV side.
I guess Alcoa money AND TSV money will be needed at some point.
Occam was suggesting earlier was that future funds would not need to come from a Cap raising, however:
1) A small Cap raising may again be required for operating capital.
2) The extra funds to get through to production could / will be financed, not done as a share issue.
3) Once commercial flow is achieved financing is an option, hegded against production income and the production asset.
So there is possibly no dilution involved.

When does the cookie jar empty out? Don't know.

They below quote makes it hard to determine if TSV require more funds to complete the project or not?
Quote From:
http://www.transerv.com.au/images/stories/downloads/announcements/2009_02_19_Warro__3_drilling_update.pdf

"Transerv holds a 10% interest in the Warro Gas Project and is free carried for the first $40m of project
expenditure on the current evaluation program, which includes 2 to 3 wells plus seismic. This expenditure on
the Warro Project evaluation program is being funded by Alcoa of Australia as part of their farm�]in
commitments. On completion of all farm�]in expenditure obligations, including construction of production
facilities, the project interests held will be Alcoa 65%, Latent Petroleum 25% (Operator) and Transerv 10%"