viewWhitebark Energy Ltd

Whitebark Energy expands land position at Wizard Lake with additional 560 hectares

Rex-3 is the third horizontal well to be drilled in the multi-well development of the Wizard Lake oilfield and was drilled from the same pad as Rex-1 and Rex-2.

Whitebark Energy Ltd - Whitebark Energy expands land position at Wizard Lake with additional 560 hectares
WBE is confident of generating commercial flows from the new land as it did at Rex-1 along with 2 and 3

Whitebark Energy (ASX:WBE) has expanded its land position at Wizard Lake with an additional 560 acres in proximity to the Rex drilling pad and the company's Wizard Lake facilities which are being upgraded.

The new land is to the northeast of the drilling pad and closes the gap of land held by Whitebark’s subsidiary Salt Bush Energy over the Wizard Lake pool.

It within 1-kilometre of the Wizard Lake facilities that are undergoing an upgrade and is about 400 metres away from the Rex-1 discovery well.

The new land contains 12 old wells drilled to exploit oil and gas reserves from deeper Devonian Leduc reservoirs.

These wells provide information on the nature and extent of the Rex sand and confirm them to be oil-bearing.

The application of fracced horizontal completion technology is expected to result in commercial flows from these sands in the new land as evident with the Rex 1, 2 and 3 wells to the south.

Whitebark recently completed a fracture stimulation program for its third oil well, Rex-3, at the Wizard Lake Project which involved the high-pressure injection of over 1,300 tonnes of proppant into the well to create cracks and extract oil and gas from the Rex formation.

The next phase of the program started within 48 hours after the completion of the first phase.

Quick facts: Whitebark Energy Ltd

Price: 0.004 AUD

Market: ASX
Market Cap: $16.14 m

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