Whitebark Energy (ASX:WBE) said an independent review of its South Australian permits PEL 253 and 81 has confirmed "significant" prospective hydrocarbon potential, according to a Friday filing with the Australian bourse.
The findings support a viable hydrocarbon system distinct from the geological model used in its previous volumetric estimate, the filing said.
A separate assessment of the area's hydrogen and helium potential is ongoing, the filing added.
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