Whitebark Energy Eyes 2026 Drill at South Australia Hydrocarbon Prospect; Shares Fall 13%

MT Newswires Live

Jun 27, 2025

Whitebark Energy (ASX:WBE) said Zenith Energy has completed a preliminary well design and rig market evaluation for the company to support drilling the Rickerscote prospect within its Alinya project in South Australia by 2026, according to a Friday Australian bourse filing.

The well cost has been estimated at AU$7.7 million to a total depth of 2,400 meters to test multiple reservoir intervals prognosed in the Rickerscote prospect, exceeding 180 square kilometers, the filing added.

The company said that successful exploration efforts on the project in the Officer Basin will open up a new hydrogen, helium, and hydrocarbon province for Australia, ensuring energy security, enhancing energy exports to key markets in Asia.

The company's shares fell 13% in recent Friday trade.

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