Whitebark Energy Ltd

Whitebark Energy raises nearly $2 million to develop Rex-1 oil discovery

Whitebark Energy Ltd (ASX:WBE) managing director David Messina updates Proactive Investors on the oil company's recent share placement to rapidly advance its Rex-1 discovery well in Canada. 
A total of $1.95 million was raised which will be used for production facilities and drilling programs at Rex-1 within the Wizard Lake Oil Pool Project, housed in the Point Loma joint venture with partner Point Loma Resources Ltd (CVE:PLX).
Development work will include pipeline construction, equipment installation and drilling, with commercial production at Rex-1 anticipated in April.

Quick facts: Whitebark Energy Ltd

Price: $0.01

Market: ASX
Market Cap: $17.67 m

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Full interview: Whitebark Energy updates on Wizard Lake activity with Rex-2...

Whitebark Energy Ltd (ASX:WBE) managing director David Messina updates Proactive on Rex-2 well at the Wizard Lake Project in Canada with results exceeding initial expectations. Rex-2 was drilled and fracced in August and tested in September 2019.  The managing director said the strong...

4 days, 11 hours ago

2 min read