WA’s wholesale gas prices have more than doubled since 2020 and the supply squeeze is biting hard. Locking in long-term gas is becoming a an increasingly costly headache for industry – which makes the timing of Whitebark’s Warro breakthrough look almost tailor-made for the moment.
Management says Warro is a near-pipeline giant which already has the hard data from drilled wells and flared gas at surface, proving the gas is real. Now it’s simply a case of cracking the right zones and turning the taps on.
To fast-track the redevelopment, Whitebark has raised $750,000 in a placement at 0.5 cents a share, with no discount to market – a rarity among ASX micro-caps. Notably, chairman Mark Lindh is personally tipping in $100,000, underscoring management’s confidence in the project.
The fresh funds will go into finalising re-completion designs, integrating Warro-3 and Warro-4 production data and moving quickly to physical testing. Positive flows could rapidly position the field and Whitebark as a crucial pillar in WA’s energy future.
Elsewhere, Whitebark has been busy preparing the ground work for an exploration well, expected in late 2026 at its massive Rickerscote “3H” prospect, part of the company’s massive 20,000-square-kilometre Alinya project in South Australia’s Officer Basin.
A recent Sproule ERCE study commissioned by Whitebark estimated that Rickerscote could be harbouring up to 1.2 billion kilograms of natural hydrogen, a hefty 209 billion cubic feet of helium and up to 153 million barrels of oil equivalent in hydrocarbons.
Few onshore gas fields have attracted as much debate as Warro. Even fewer have been given a second chance. If Whitebark’s new approach to Warro delivers the clean, high-rate gas it expects, the company could be celebrating one of the most significant onshore gas revivals the State has ever seen.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
