Whitebark Energy has inked a binding sale and purchase agreement with Conflux Energy Corp to divest its remaining 10 per cent working interest in the Wizard Lake oil and gas assets in Alberta, Canada, held through its wholly owned subsidiary, Rex Energy.

The transaction, valued at C$141,486 (A$154,049), will see Conflux acquire full ownership of Rex Energy and its Wizard Lake interests. Whitebark sold 90 per cent of Wizard Lake to Conflux in June last year.

The deal allows Whitebark to streamline its portfolio and sharpen its focus on high-potential Australian assets, particularly its recently acquired Alinya project in South Australia’s Officer Basin.

Whitebark assessed its asset base after its takeover of King Energy in February and decided to make a strategic pivot to prioritising as

See Full Page