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Whitebark buys into Canadian oil permit

August 9, 2017

Perth-based Whitebark Energy announced the acquisition of two oil wells through its joint venture (JV) with Point Loma Energy.

The acquired section 4‐56‐7W5 is adjacent to, and enlarges, the JV’s producing Paddle Ri The acquired section 4‐56‐7W5 is adjacent to, and enlarges, the JV’s producing Paddle

River Ostracod A Pool in central Alberta, Canada, and is connected to existing facilities. 

The 12‐4‐56‐7W5 well was drilled in 2013 and has not been produced due to past facility constraints which have now been removed. Production is anticipated to begin in September of 2017.

Whitebark has a 20% working interest in the JV while operator Point Loma holds the remaining majority stake, through its wholly owned subsidiary Salt Bush Energy.



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