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Whitebark Energy Ltd
(Sydney:WBE)
Whitebark Energy Ltd (WBE) vs. iShares MSCI Australia ETF (EWA)
Whitebark Energy Ltd Business Overview & Revenue Model
Whitebark Energy Ltd Financial Statement Overview
| Breakdown | TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 2.36M | 3.16M | 2.76M | 2.88M |
| Gross Profit | 0.00 | -74.45K | -306.88K | 545.21K | 839.03K | -1.30M |
| EBITDA | 0.00 | -1.74M | -1.29M | -795.79K | -8.99M | -2.38M |
| Net Income | -507.31K | -6.23M | -4.30M | -915.24K | -9.16M | -4.15M |
Balance Sheet | ||||||
| Total Assets | 3.32M | 3.58M | 7.57M | 6.95M | 4.87M | 17.68M |
| Cash, Cash Equivalents and Short-Term Investments | 3.24K | 335.70K | 195.01K | 2.15M | 515.88K | 1.39M |
| Total Debt | 354.08K | 547.52K | 498.63K | 0.00 | 200.00K | 200.00K |
| Total Liabilities | 6.45M | 6.38M | 6.14M | 3.49M | 2.52M | 8.87M |
| Stockholders Equity | -3.13M | -2.80M | 1.43M | 3.46M | 2.35M | 8.80M |
Cash Flow | ||||||
| Free Cash Flow | ― | -1.02M | -4.20M | -591.77K | -3.76M | -9.94M |
| Operating Cash Flow | ― | -1.02M | -792.96K | -65.48K | -1.52M | -1.90M |
| Investing Cash Flow | 0.00 | 0.00 | -3.41M | -526.30K | -1.96M | -9.08M |
| Financing Cash Flow | ― | 1.17M | 2.24M | 2.22M | 2.91M | 9.12M |
Whitebark Energy Ltd Peers Comparison
Whitebark Energy Ltd Corporate Events
Whitebark Energy Ltd has announced significant progress in its exploration activities within the Officer Basin, South Australia, where it holds a majority interest in King Energy’s assets. The company is conducting a soil geochemistry survey at the Rickerscote Prospect to detect hydrogen and hydrocarbon emissions, which will inform future drilling plans. Additionally, Whitebark has completed the sale of 90% of its Wizard Lake asset, maintaining a 10% working interest that continues to provide stable revenue. These developments position Whitebark as a key player in Australia’s energy transition, with potential for substantial returns from its 3H strategy focusing on hydrogen, helium, and hydrocarbons.
Whitebark Energy Limited has successfully closed its takeover offer for King Energy Limited’s Class A Options, achieving a 90.3% acceptance rate. This move is part of Whitebark’s strategic efforts to strengthen its market position and align with its evolving focus on renewable energy, potentially impacting its operations and stakeholder interests.
Whitebark Energy Ltd has initiated 2D seismic survey work and drilling planning for the Rickerscote prospect, part of the Alinya Project. The project, which includes over 20 identified prospects, aims to open a new hydrogen, helium, and hydrocarbon province in Australia, enhancing energy security and positioning the country at the forefront of the clean energy revolution. The company has engaged Exploration Consultants and Zenith Energy to finalize survey parameters and well design, with tenders expected to complete by May 2025. Successful exploration could significantly impact Australia’s energy exports and clean energy standing.
Whitebark Energy Ltd announced the results of its 2025 Extraordinary General Meeting, where all resolutions were carried with significant support. This outcome reflects strong shareholder backing for the company’s strategic initiatives, potentially enhancing its operational capabilities and market position.
Whitebark Energy Limited has announced the commencement of a soil geochemistry survey at the Rickerscote Prospect, part of the Alinya Project in Western Australia. This initiative aims to identify hydrogen and hydrocarbon emission hotspots using advanced IVY gas detection sensors. The project, which could potentially transform Australia’s energy landscape, positions Whitebark at the forefront of clean energy development. The survey results will guide future drilling activities, potentially enhancing the company’s market position and contributing to Australia’s energy security.
Whitebark Energy Ltd has announced the issuance of 94,941,036 unquoted securities, identified as KEL Options, on April 11, 2025. This issuance is part of previously announced transactions and is not intended to be quoted on the ASX, potentially impacting the company’s financial structure and stakeholder interests.
Whitebark Energy Ltd announced the quotation of 91,697,620 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of April 11, 2025. This move is part of previously announced transactions and is expected to enhance the company’s liquidity and market visibility, potentially impacting its operational capabilities and stakeholder interests positively.
Whitebark Energy Limited has announced the commencement of a soil geochemistry survey at the Rickerscote Prospect, part of the Alinya Project in Western Australia. This project, which includes significant potential resources of white hydrogen, helium, and oil, aims to position Whitebark at the forefront of clean energy in Australia. The survey, using advanced IVY gas detection sensors, will help identify key emission points and integrate with subsurface data to prioritize future drilling locations, potentially impacting Australia’s energy landscape and supporting the country’s low-emissions future.
Whitebark Energy Limited has announced that it now holds over 90% interest in King Energy Limited’s securities and is proceeding with the compulsory acquisition of the remaining securities. This move is part of Whitebark’s strategic expansion, allowing it to consolidate its holdings and potentially strengthen its market position. The compulsory acquisition process is expected to conclude by May 2025, providing King securityholders with the opportunity to claim their consideration once the acquisition is finalized.
Whitebark Energy Ltd has released its list of top holders of ordinary shares and unlisted options as of April 7, 2025. The top 20 holders of ordinary shares account for 76.66% of the total shares, while the top 20 holders of unlisted options expiring on May 31, 2030, hold 74.42% of the total options. This concentration of ownership among a few stakeholders could impact the company’s decision-making processes and strategic direction.
Whitebark Energy Ltd has provided an update on its ordinary shares and unlisted options as of April 7, 2025. The company reports a total of 91,697,620 ordinary shares and 94,941,004 unlisted options, with a significant portion of both being held in larger unit ranges. This distribution indicates a concentrated ownership structure, which may impact liquidity and shareholder influence.
Whitebark Energy Limited has announced a further extension of its offer for King Class A Options as part of its off-market takeover bid for King Energy Limited. The extension, now set to close on 17 April 2025, follows a high acceptance rate of 89.78% for the options. This move underscores Whitebark’s strategic efforts to consolidate its position in the energy sector, potentially impacting stakeholders by enhancing its market presence and operational capabilities.
Whitebark Energy Limited has announced the status of its off-market takeover bid for King Energy Limited. The company has fulfilled the minimum acceptance condition and removed all other defeating conditions, making the offers wholly unconditional. As of now, Whitebark holds a 91.07% voting power in King Energy, indicating a significant step towards completing the acquisition.
Whitebark Energy Ltd has announced an Extraordinary General Meeting scheduled for April 16, 2025, at the offices of Johnson Winter Slattery in Adelaide. The meeting will address matters affecting shareholders’ holdings, and shareholders are encouraged to vote either in person or by proxy. The company emphasizes the importance of reading the provided materials thoroughly and consulting with professional advisers if needed. The meeting will adhere to government regulations, including social distancing measures, and all resolutions will be decided by a poll.
Whitebark Energy Ltd reported a comprehensive loss of $518,627 for the half-year ending December 31, 2024, a significant improvement from the previous year’s loss. The company has restructured its interests in the Wizard Lake assets, retaining a 10% stake after divesting 90% to Conflux Energy. This strategic move allows Whitebark to maintain a presence in the field while benefiting from future developments under new ownership. The company remains focused on cost control and completing the asset transition, with ongoing production from the Wizard Lake fields enhancing cash flow stability.
Whitebark Energy Limited has declared its takeover offers for King Energy Limited unconditional after surpassing a 90% acceptance threshold for King shares and options. With the offers now unconditional, Whitebark plans to proceed with the compulsory acquisition of remaining King securities, urging King securityholders to accept the offers before the closing date of March 24, 2025. This strategic move is expected to strengthen Whitebark’s position in the energy sector, potentially enhancing its operational capabilities and market influence.
Whitebark Energy Ltd has made an off-market takeover bid for all shares and options of King Energy Limited. The board of King Energy has unanimously recommended that shareholders accept the offer unless a superior proposal emerges. The directors of King Energy hold significant shares and options in the company and will receive Whitebark securities upon completion of the offer. Additionally, King Energy requires additional capital for its Alinya Project, and failure to secure this funding could result in the compulsory acquisition of its shareholding in Officer Energy.
Whitebark Energy Limited has extended its takeover offer for King Energy Limited, pushing the closing date to March 24, 2025. This move provides more time for King Energy stakeholders to consider the offer, which remains subject to certain conditions. The extension may impact Whitebark’s strategic positioning in the energy market as it seeks to consolidate its assets and operations.
Whitebark Energy Limited has made a takeover offer to acquire all shares and options of King Energy Limited, with King’s directors unanimously recommending acceptance of the offer in the absence of a superior proposal. The takeover, structured as an exchange of shares and options, could have significant implications for both companies’ market positions and stakeholders, contingent on Whitebark’s share value.
Whitebark Energy Ltd has announced the issuance of 55,875,693 fully paid ordinary shares at $0.0065 each to sophisticated and professional investors via a placement. The issuance was executed without disclosure under specified sections of the Corporations Act 2001, and the company has complied with relevant provisions as of the notice date. This move is part of Whitebark’s efforts to raise capital, potentially enhancing its financial standing and operations.
Whitebark Energy Ltd has announced the quotation of 55,875,693 ordinary fully paid securities on the Australian Securities Exchange, following a previously announced transaction. This move is part of its strategic efforts to enhance its market presence, potentially impacting its financial standing and offering increased value to its stakeholders.
Whitebark Energy Ltd has announced an update regarding its capital raising efforts, where it successfully secured commitments to raise $2 million through the issuance of 307,692,309 shares at $0.0065 per share. The capital raised will fund exploration activities and includes a debt conversion and a participation from the company’s chairman, Mark Lindh. Additionally, Whitebark has appointed Peak Asset Management and Adelaide Equity Partners as joint lead managers, who will receive options and a facilitation fee upon shareholder approval. A general meeting is scheduled for March 2025 to approve related items of the placement, which aims to adjust Whitebark’s capital structure and enhance its financial position.
Whitebark Energy Ltd has announced an update regarding its proposed securities issuance, initially disclosed on February 5, 2025. This issuance is part of the company’s strategic efforts to strengthen its financial position through placements or other types of issues, potentially impacting its market operations and stakeholder value.
Whitebark Energy Limited announced an update to its $2 million capital raising initiative, with Tranche 1 and 2 of the placement subject to shareholder approval. In addition to this, Whitebark Energy will not pursue an entitlement offer as previously suggested, owing to a pro-rata issue conducted in August 2024. The company is also converting a portion of debt to equity, involving an unrelated party creditor, and has agreed to pay a 6% cash fee to Joint Lead Managers from the raised capital.
Whitebark Energy Limited has announced the completion of dispatching a Bidder’s Statement for its off-market takeover bid of King Energy Limited. The offer involves exchanging Whitebark shares and options for King Energy’s securities, valuing King Energy at approximately $1.2 million. This move aligns with Whitebark’s strategic focus on expanding its footprint in the energy sector, potentially enhancing its market positioning and offering growth opportunities for stakeholders.
Whitebark Energy Ltd plans to acquire King Energy, which has discovered potential hydrogen and hydrocarbon emission hotspots over its Alinya Project in South Australia. The findings, resulting from a multispectral remote spectroscopy study, suggest an active subsurface resource system and are set to inform future exploration activities, including seismic operations and drilling, potentially impacting the company’s positioning in the energy sector.
Whitebark Energy Ltd has announced a proposed issue of securities, specifically planning to issue up to 10,000,000 broker options. This move is part of a strategic effort to enhance the company’s financial standing and support its growth initiatives, potentially impacting its operations and market positioning positively.
Whitebark Energy Ltd announced a proposed issue of securities, which includes a placement of 153,846,155 options and 307,692,309 ordinary fully paid shares. This strategic move aims to bolster the company’s capital structure and enhance its financial flexibility, potentially impacting its operational capabilities and market positioning positively.
Whitebark Energy Limited has secured a firm commitment to raise $2 million in preparation for acquiring King Energy through an off-market takeover. The raised funds will be used for soil geochemistry work, 2D seismic surveys, farm-out discussions, and working capital. This acquisition provides Whitebark with access to significant onshore energy structures in Australia, enhancing its position in the white hydrogen, helium, and hydrocarbon sectors, crucial for Australia’s energy transition.