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Full interview: Whitebark Energy completes $3.8 million capital raising to accelerate Wizard Lake

Whitebark Energy completes $3.8 million capital raising to accelerate Wizard Lake

Whitebark Energy Limited (ASX: WBE) managing director David Messina updates Proactive on the completion of a $3.8 million capital raising to fast-track the Wizard Lake project development in Canada.

The new funds will mainly be used to accelerate the upgrade of infrastructure to handle the production from the higher than anticipated oil and associated gas flow rates at the recently drilled Rex-2 well.

Drilling of the Rex-3 well will also be expedited.

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Price: 0.0035 AUD

ASX:WBE
Market: ASX
Market Cap: $14.22 m
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Whitebark Energy busy reviewing opportunities for the business

Whitebark Energy Ltd’s (ASX:WBE) David Messina speaks to Proactive's Andrew Scott soon after announcing they've increased their position at the Wizard Lake Oilfield following the renewal of a mineral lease. Messina says it's been a tough year for the business with the drop in oil price coupled...

on 29/10/20

2 min read