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

Published: 19:45 06 Jul 2020 AEST

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.

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