Whitebark Energy Confirms Significant Hydrogen and Helium Potential at Rickerscote Prospect

Whitebark Energy Confirms Significant Hydrogen and Helium Potential at Rickerscote Prospect

Whitebark Energy Limited (ASX:WBE) has announced confirmation of significant natural hydrogen and helium potential at its Rickerscote Prospect in the Officer Basin, South Australia. Whitebark 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 independent assessment by Sproule ERCE, a global expert in the field, validates the company’s belief in the area’s resource potential.

Sproule ERCE’s evaluation estimates 3U (P10) Prospective Resources of 1.2 billion kg of hydrogen and 209 Bcf of helium for the Rickerscote Prospect (851 million kg hydrogen and 140 Bcf of helium net to WBE’s share). The geological chance of success is estimated between 7% and 17%. This confirms the presence of all necessary elements for the generation and storage of hydrogen and helium within the Officer Basin.

The assessment highlights that PELs 253 and 81 possess proven conventional reservoirs and salt seals directly overlying the basement. A granitic source offers the potential to generate substantial free hydrogen over geological time, similar to what has been observed in nearby basins. Whitebark Energy also holds an option to increase its equity to 100% in PELs 253 and 81.

Richard King, a Director of Whitebark, stated that the independent estimates validate the company’s strong belief in the world-class potential of its acreage. He added that the area is one of the best places in the world to test for conventionally reservoired natural hydrogen and helium, given the right rocks and geological history present in PELs 253 and 81. Success at Rickerscote could unlock the Officer Basin and establish the ancient onshore basins as world class hydrogen and helium provinces.

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