The well is at 1,410 metres total vertical depth (TVD), or 1,536 metres measured depth (MD) at an inclination of 85 degrees.
Planned total depth is 1,413 metres TVD or 2,724 metres MD.
The well has intersected overlying geological markers within 4 metres of prognosis with the most important being the Lower Sparky Coal which immediately overlies the Rex sand and was 1.3 metres low.
The horizontal well trajectory has been adjusted accordingly and the horizontal section is anticipated to be drilled over the weekend.
Prior to ceasing drilling, the uppermost part of the Rex was penetrated, and bottoms-up samples showed strong oil staining, fluorescence with cut and elevated gas readings at four-times background.
Whitebark will post a full report on well results once total depth has been reached and the electric logs have been interpreted.
The Rex target at Wizard Lake is the first horizontal well to be drilling in the potentially multi-welled program.
Recent activity in the area has resulted in highly-commercial wells at 250-300 barrels of oil per day at 80% oil.
The target zone in the Point Loma Joint Venture (PLJV) has similar porosity but is thicker than at the Leduc area.
Based on the experience and success of other Rex wells in the area, the PLJV Wizard Lake well will be fracture-stimulated using 20-30 and 35-tonne stages, each focused through individual completion ports.
This method has been shown to optimise exposure to the target zone and production.
Whitebark is based in Perth with production and exploration assets in Canada and Australia.
The PLJV is an established producer with existing oil and gas processing facilities and pipelines into markets.
Whitebark also holds a 100% interest in the undeveloped Warro Gas Project 200 kilometres north of Perth.