Whitebark Energy Secures 100% Ownership of Alinya Project in South Australia’s Officer Basin
Whitebark Energy Limited (ASX: WBE) has increased its stake in the Alinya Project within South Australia’s Officer Basin to 100% ownership by exercising its option to acquire the remaining 30% interest in Officer Energy Pty Ltd. The decision follows independent expert assessments that confirmed the significant hydrocarbon, hydrogen, and helium prospective resource potential of the permits.
The assessments, conducted by Sproule ERCE (hydrogen and helium) and Fluid Energy Consultants (oil and gas), validated the world-class scale of the opportunity. Whitebark will issue 2.955 million shares and 2.955 million options to complete the transaction, as previously outlined in its December 2024 announcement.
Full control of the permits—PEL 81 and PEL 253—gives Whitebark greater flexibility to manage the Alinya Project and the option to attract third-party participation in future farm-in discussions.
Director Mark Lindh described the move as “an easy decision” given the independent estimates, noting it ensures Whitebark retains full exposure to the basin’s prospective resources. Success at Alinya is seen as a potential unlock for the Officer Basin, positioning it as a world-class province for hydrogen, helium, and hydrocarbons.
Full press release is attached:
HIGHLIGHTS:
• Whitebark has lifted its stake in the world class Alinya project in the Officer Basin to 100% by exercising its option to acquire the remaining 30% interest following the positive independent expert reviews of the hydrocarbon, hydrogen and helium resource potential.
• Success at Rickerscote will unlock the Officer Basin and establish these ancient onshore basins as world class hydrocarbon, hydrogen and helium provinces.
Whitebark Energy Limited (ASX:WBE) (Whitebark or the Company) is pleased to announce that it has exercised the option to acquire the remaining 30% shares in Officer Energy Pty Ltd which indirectly holds Permits PEL 81 and PEL 253 in the Officer Basin, South Australia. This decision was made following the recent independent resource assessments by Sproule ERCE for hydrogen and helium and by Fluid Energy Consultants for oil and gas, as released to the market on 12 August 2025 and 7 August 2025 respectively. Both assessments confirmed the giant Prospective Resource potential of the Alinya Project.
Exercising the option provides the Company with full control of the Permits and timing of the Alinya Project. The additional equity provides scope to offer greater participation to third parties in any future farm-in process. As consideration for exercising the option, Whitebark will issue 2.955 million shares and 2.955 million options in the Company for the additional 30% interest as per announcement dated 20 December 2024.
Director Mark Lindh commented: “Given the impressive independent estimates of prospective resources made by Sproule ERCE and Fluid Energy Consultants, exercising the 30% option was an easy decision and ensures the Company has exposure to the full Prospective Resource potential and control over the project going forward. Exercising the option validates our strong belief in the world-class potential of our acreage in the Officer Basin.”
This ASX announcement has been approved and authorised for release by the Board of Whitebark Energy Limited.
For further information: Ms. Kaitlin Smith Company Secretary Whitebark Energy Ph: +61 403 371 739 Kaitlin.Smith@whitebarkenergy.com
About Whitebark Energy Limited
Whitebark Energy Limited (ASX:WBE) (“Whitebark” or the “Company”) is an ASX-listed exploration and production company focused on delivering conventional oil and gas to support global energy transition and building a clean energy future through natural hydrogen exploration and geothermal power. The company has extensive exploration in the Officer Basin located in South Australia; a substantial contingent gas resource in Western Australia; and geothermal exploration applications over proven conventional hot water production locations in southwest Queensland. WBE continues to hold a minor stake in low-cost oil and gas production in Canada.
