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Whitebark Energy's Warro gas project breakthrough boosted shares 85% amid potential massive onshore gas reserves.
Whitebark Energy’s shares jumped 85% to 13 cents after announcing a breakthrough at its Warro gas project in Western Australia, unlocking a potentially massive onshore resource of 4.4 to 11.6 trillion cubic feet.
A new analysis identified viable gas zones in the Lower Yarragadee Formation, overcoming past issues with water intrusion that stalled development since a 1977 discovery.
The project’s proximity to existing infrastructure and rising gas prices in WA enhance its prospects.
The company raised $750,000 at market price, with leadership investing personally, to advance re-completion plans.
Meanwhile, exploration continues at its Rickerscote prospect in South Australia, which may hold natural hydrogen, helium, and oil.
El avance del proyecto de gas Warro de Whitebark Energy aumentó las acciones en un 85% en medio de enormes reservas potenciales de gas en tierra.