Whitebark Energy Limited (ASX:WBE), an ASX-listed exploration and production company focused on delivering conventional oil and gas to support global energy transition and building a clean energy future through natural hydrogen exploration and geothermal power, has announced it has exercised its option to acquire the remaining 30% shares in Officer Energy Pty Ltd. This entity indirectly holds Permits PEL 81 and PEL 253 in the Officer Basin, South Australia. The acquisition brings Whitebark’s total ownership of the Alinya Project in the Officer Basin to 100%.
The decision to exercise the option followed independent resource assessments by Sproule ERCE for hydrogen and helium, and by Fluid Energy Consultants for oil and gas. These assessments, released on August 12 and August 7, 2025 respectively, confirmed the significant Prospective Resource potential of the Alinya Project. According to the company, success at Rickerscote will unlock the Officer Basin and establish these ancient onshore basins as world class hydrocarbon, hydrogen and helium provinces.
Whitebark will issue 2.955 million shares and 2.955 million options in the Company for the additional 30% interest, as per the announcement dated December 20, 2024. With full control of the permits, the Company now has full control of the Permits and timing of the Alinya Project. It also provides greater scope to offer participation to third parties in any future farm-in process.
Director Mark Lindh stated that exercising the option was an easy decision, given the impressive independent estimates of prospective resources. He added that it ensures the Company has exposure to the full Prospective Resource potential and control over the project going forward, validating Whitebark’s strong belief in the world-class potential of its acreage in the Officer Basin. The announcement was approved and authorised for release by the Board of Whitebark Energy Limited.
