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Whitebark Energy raising funds to support field development and production increase at Wizard Lake

Whitebark Energy Ltd's (ASX:WBE) David Messina provides an update on the company's Wizard Lake Operations in Canada and the current partially underwritten entitlement issue to raise $A3 million announced last week.

These funds will support Wizard Lake improvements and land acquisitions as well as working capital.

The company also plans to increase production from its Rex-3 well following the installation of a sub-surface pump in the well.

Quick facts: Whitebark Energy Ltd

Price: 0.003 AUD

ASX:WBE
Market: ASX
Market Cap: $12.11 m
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Full interview: Whitebark Energy completes $3.8 million capital raising to...

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...

on 26/9/19

2 min read