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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