Salt Bush Energy Ltd. entered into a binding letter agreement to acquire 12.5% stake in Working Interest in Wizard Lake Rex Well in Alberta from Point Loma Resources Ltd. (TSXV:PLX) for CAD 1 million on June 8, 2020. Upon completion, SBE’s land position will increase to 6400 acres from 5632 acres prior to the transaction. The transaction is subject to Alberta Energy Regulator (AER) approval. The Alberta (Canada) court has approved key terms of the sale process for Wizard Lake Oil Field. BDO Canada Limited was appointed as the receiver and manager of Point Loma Resources Ltd. and it engaged Sayer Energy Advisors to assist it with a sale of all of Point Loma’s oil and natural gas properties located in Alberta. As of May 31, 2021, Whitebark Energy Ltd (ASX:WBE) has completed a placement to sophisticated and institutional investors raising CAD 0.28 million (AUD 0.31 million) to fund the cash component of its acquisition of the Wizard Lake Oil Field. The transaction has been approved by the Court of Queen’s Bench, Alberta, with an effective date of May 19, 2021. The transaction completion is expected on or around May 17, 2021.