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Whitebark Energy Ltd ( (AU:WBE) ) has issued an announcement.
Whitebark Energy Limited has secured a firm commitment to raise $2 million in preparation for acquiring King Energy through an off-market takeover. The raised funds will be used for soil geochemistry work, 2D seismic surveys, farm-out discussions, and working capital. This acquisition provides Whitebark with access to significant onshore energy structures in Australia, enhancing its position in the white hydrogen, helium, and hydrocarbon sectors, crucial for Australia’s energy transition.
More about Whitebark Energy Ltd
Whitebark Energy Limited is an ASX-listed exploration and production company with a focus on low-cost oil and gas production in Canada, a substantial gas resource in Western Australia, and renewable energy initiatives in Australia. The company is undergoing a strategic realignment towards the Australian renewable energy market, marked by management changes and a partial sale of its Canadian assets.
YTD Price Performance: 0.0%
Average Trading Volume: 600,691
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$2.02M
For an in-depth examination of WBE stock, go to TipRanks’ Stock Analysis page.
