Whitebark Energy Limited (ASX:WBE – Get Rating) insider Matthew White bought 16,500,000 shares of the firm’s stock in a transaction on Tuesday, June 7th. The stock was bought at an average price of A$0.00 ($0.00) per share, with a total value of A$33,000.00 ($22,916.67). Matthew White also recently made the following trade(s): On Thursday, March […]
The company’s offer to acquire the Wizard Lake Oil Field has been approved by the Court of Queen’s Bench, Alberta, with an effective date of May 19, 2021.
Whitebark Energy Ltd (ASX:WBE) continues to take steps aimed at retaining the Wizard Lake Oil & Gas Project in Alberta, Canada, as it maintains encouraging production rates.
Earlier in the year, the company’s 100%-owned Canadian subsidiary, Salt Bush Energy Ltd (SBE), filed a Notice of Intention to Make a Proposal pursuant to Subsection 50.4(1) of the Canadian Bankruptcy and Insolvency Act.
Whitebark intends to retain the Wizard Lake asset and, via its subsidiary Ironbark Energy (IBE), has bid C$2 million comprised of C$336,000 in cash and C$1,664,000 in forfeit of an existing loan made by Whitebark to SBE.
The process was initially open for a period until March 31, 2021, and was extended by a further 45 days to May 13, 2021, with no competing bids for the assets received during this time.
Whitebark Energy appoints interim CEO to progress acquisition of Wizard Lake Oil Field and plan for its future
The company is encouraged by Dr Simon Brealey’s oil and gas reputation and his ability to find, review, and see through to development unconventional assets in numerous global locations. The new appointment has more than 30 years of experience in onshore and unconventional oil and gas asset exploration and development.
Whitebark Energy Ltd (ASX:WBE) has appointed Dr Simon Brealey to the role of interim chief executive officer (CEO) to assist in progressing the acquisition of Wizard Lake Oil Field in Canada through a bid for Saltbush Energy.
Whitebark Energy Ltd receives approval of sale process for Wizard Lake and appoints new directors proactiveinvestors.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.com.au Daily Mail and Mail on Sunday newspapers.