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Whitebark Energy Ltd ( (AU:WBE) ) has provided an announcement.
Whitebark Energy Limited has signed a Sale and Purchase Agreement with Conflux Energy Corp. to sell its remaining 10% interest in the Wizard Lake assets in Alberta, Canada. This strategic move allows Whitebark to focus on its Australian assets, including the newly acquired Alinya Project, and aligns with its long-term vision as an Australian-based exploration and production company. The transaction will see Whitebark receive CAD$141,486, with Conflux assuming the remaining debt, and does not require shareholder approval.
More about Whitebark Energy Ltd
Whitebark Energy Limited is an ASX-listed exploration and production company that focuses on low-cost oil and gas production in Canada and has a substantial contingent gas resource in Western Australia. The company is shifting its strategy towards the Australian renewable energy market, highlighted by a management overhaul and the partial sale of its Wizard Lake asset in Alberta, Canada.
Technical Sentiment Signal: Sell
Current Market Cap: A$2.11M
For a thorough assessment of WBE stock, go to TipRanks’ Stock Analysis page.