Previous operators have invested over $100 million in seismic and four wells, yielding between 1 and 2 million standard cubic feet per day (MMscf/d) in test flows, despite sub-optimal well completions.
With modern technology, regulatory green lights for fracturing and targeted recompletions, Warro could emerge as a high-value onshore producer.
Whitebark’s broader strategy balances near-term gas cash flow with frontier plays. It holds interests in the massive Alinya Project in South Australia – one of Australia’s largest natural hydrogen and helium prospects covering about 20,000 square kilometres. The grounds were first picked up through a 2025 scrip deal for private company, King Energy, complete with a further capital raising.
Alinya covers multiple permits in the Officer Basin, in the heart of the Great Victoria Desert, about 1000km north of Adelaide and about 300km northwest of Moomba, Santos’ big gas hub, giving future production sweet tie-in potential.
With WA’s gas crunch looming – driven by several interconnected factors including declining reserves and production, export priorities, rising demand and price surges that have doubled since 2019 – and global demand surging for hydrogen and helium, Sykiotis’ appointment appears to signal Whitebark’s readiness to unlock Warro’s potential and scale its multi-asset portfolio.
Near-term study results could fast-track first gas, potentially cementing the company’s role as a new player in Australia’s energy mix.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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