Tag #Officer Basin

What is the significance of Whitebark Energy's acquisition of King Energy's Alinya project for South Australia's energy sector?

Whitebark Energy's unconditional takeover of King Energy secures the Alinya 3H project, a 19,467-square-kilometer area in South Australia's Officer Basin, rich in hydrogen, helium, and hydrocarbons. This acquisition, finalized after a successful $2 million cash injection and satellite surveys revealing hydrogen anomalies, propels Whitebark's share price to 1.2c, a 50% increase from its December offer of 0.6c.