The trading halt will remain in place until the beginning of regular trading on Tuesday, June 30, or when an announcement is released to the market.
Production from Rex-3 to recommence
Whitebark is set to recommence production its Rex-3 well following the installation of a subsurface pump in the well.
The well has flowed to surface unaided for five months, illustrating the quality of the reservoir, but now requires the assistance of a subsurface pump to increase production.
The work is expected to commence over the weekend and require seven to 10 days to be completed.
Rex-3 was drilled and completed in December 2019 and has flowed unassisted since production start-up in January 2020.
During the past five months, Rex-3 yielded 35,800 barrels of oil and 251,000 mcf of gas.