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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Whitebark Energy Limited    WBE   AU000000WBE7

WHITEBARK ENERGY LIMITED

(WBE)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 12/02
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11/18WHITEBARK ENERGY : Results of 2020 Annual General Meeting
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11/17WHITEBARK ENERGY : Annual General Meeting Presentation
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11/10WHITEBARK ENERGY : Becoming a substantial holder
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SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Whitebark Energy : Adds To Wizard Lake Position

10/26/2020 | 05:50pm EST

Whitebark to increase Wizard Lake position

27 October 2020

Additional mineral lease at Wizard Lake to take average interest to 87.5%

Whitebark Energy Ltd (ASX: WBE) ("Whitebark" or "the Company") is pleased to announce its Canadian subsidiary Salt Bush Energy ("SBE") has renewed the mineral lease over one section (256 ha) of its Wizard Lake Oilfield (WLO).

The renewal will result in an increase in Whitebark's average interest in the WLO oil and gas rights to 87.5% (previously 84%), pending the outcome of a Right of First Refusal (ROFR) for Whitebark's Joint Venture partner to participate in the renewal. The Company expects its joint venture partner to not participate in the renewal.

SBE now receives 100% of production from Rex-1 until payout, 85% of Rex-2 and 96.6% of Rex-3 until payout.

Ownership of the individual sections in the field ranges from 60% to 100%, and the Company continues to own 100% of the facilities and associated pipelines and operates the field.

"The Wizard Lake Oilfield has been the driver behind Whitebark's growth in production and reserves over the last 18 months. In this period we have continued to invest in both the development of the field, and in cost effectively increasing our working interest from around 30% to 87.5%." said Managing Director, David Messina."

End

This ASX announcement has been authorised for release by David Messina, Managing Director of Whitebark Energy Limited

For further information:

Cameron Morse

David Messina, Managing Director

FTI Consulting

Ph: +61 8 6555 6000

Ph: +61 8 9321 8533

The Company confirms that it is not aware of any new information or data that materially affects the information in the relevant ASX releases and the form

and context of the announcement has not materially changed.

T +61 8 6555 6000

E info@whitebarkenergy.com

whitebarkenergy.com

Level 2, 6 Thelma Street West Perth WA 6005

PO Box 1195 West Perth WA 6872 Australia

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Whitebark Energy Ltd. published this content on 26 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2020 22:49:03 UTC


© Publicnow 2020
All news about WHITEBARK ENERGY LIMITED
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More news
Financials
Sales 2020 2,88 M 2,13 M 2,13 M
Net income 2020 -4,15 M -3,08 M -3,08 M
Net cash 2020 1,19 M 0,88 M 0,88 M
P/E ratio 2020 -2,54x
Yield 2020 -
Capitalization 12,2 M 9,00 M 9,05 M
EV / Sales 2019 2,18x
EV / Sales 2020 3,82x
Nbr of Employees 8
Free-Float 59,6%
Chart WHITEBARK ENERGY LIMITED
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Income Statement Evolution
Managers
NameTitle
David Duncan Messina Managing Director & Executive Director
Charles Waite Morgan Executive Chairman
Stephen Leslie Keenihan Executive Director
Kevin Hart Secretary
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