About Whitebark Energy
Whitebark Energy Limited (ASX: WBE) is a Perth-based company with production and exploration assets in Canada and Australia.
In Canada, the Company holds a 20% working interest in the Point Loma Joint Venture (PLJV)in the province of Alberta, with TSXV-listed Point Loma Resources Limited.
The PLJV is a well-established producer, with existing oil and gas processing facilities and pipelines to market. Whitebark’s aim for the PLJV is for a significant increase in production and the lowering of costs through the workover and tie-in of behind-pipe reserves and horizontal development drilling.
In Western Australia, the Company funded 20% of the Xanadu-1 exploration well in the Perth Basin to earn 15% of the prospect and permit TP/15. On 25 September 2017, the Operator announced Xanadu field 1 as an Oil Discovery. Oil assay results have also confirmed a Cliff Head analogue which is 14km to the NE of Xanadu. The Joint Venture is currently planning 3D and reservoir engineering studies in 2018 before proceeding with a development program
Through wholly owned subsidiary Latent Petroleum, Whitebark owns the 4.4 to 11.6 tcf (refer ASX release dated 19 November 2015) undeveloped Warro Gas Project, about 200km north of Perth.