Whitebark Energy (ASX:WBE) exercised the option to acquire the remaining 30% shares in Officer Energy, which indirectly holds permits, PEL 81 and PEL 253, part of the Alinya project, in the Officer basin in South Australia, according to a Monday Australian bourse filing.

As consideration for exercising the option, Whitebark will issue 2.955 million shares and 2.955 million options in the firm in exchange for an additional 30% interest.

The independent resource assessments by Sproule ERCE for hydrogen and helium and by Fluid Energy Consultants for oil and gas confirmed the giant prospective resource potential of the project.