Whitebark Energy's commitment to renewable energy transition

Whitebark Energy Limited (ASX: $WBE) has announced its strategic commitment to pursue alternative energy generation in the rapidly transitioning Australian renewable energy market. The company's portfolio includes the Wizard Lake Oil Field in Alberta, Canada, the Warro Gas Project in Western Australia, and the newly granted Exploration for Geothermal Energy permit in Queensland, Australia.

Executive Commentary on Renewable Energy Transition

Developments in geothermal technology over the last decade place WBE's geothermal and renewable assets as an ideal candidate to be a commercially viable renewable energy provider. Whitebark is uniquely placed to benefit from the considerable work completed to date on the Warro asset, providing a significant head start for new generation of geothermal energy in Australia.

Summary of Whitebark Energy's Renewable Energy Transition

Whitebark Energy (ASX: $WBE) has strategically realigned its portfolio to focus on renewable energy generation in the Australian market. The company's commitment to pursuing alternative energy generation is evident through the monetization of the Canadian Wizard Lake Oil and Gas asset to enable further strategic acquisitions, partnerships, and development of Australian-based renewable energy and gas assets. With a renewed focus on evaluating commercial opportunities in the Warro field and EPG2037 permit area, Whitebark aims to capitalize on the renewable energy transition leveraging its expertise and newly formed partnership with CeraPhi Energy, an international geothermal technology provider. The company's vision includes becoming Australia's first operational geothermal plant, continuous growth in adjacent markets through targeted acquisitions, and selective development and commercial partnerships. Whitebark Energy's strategic and operational expertise positions it to capture the geothermal opportunity, with a focus on industries with proven and commercially-viable technology, emerging renewable energy sources, and assets strategically located for access to new customers and markets.