Whitebark Energy (ASX: $WBE) geothermal exploration permit accepted

Whitebark Energy Limited (ASX: $WBE) has announced the acceptance of its application for Exploration for Geothermal Energy ('EPG') in South-East Queensland. The permit, known as EPG2037, covers approximately 589 square kilometres and consists of 190 sub-blocks located near Brisbane and the Gold Coast region.

Whitebark Energy's perspective on geothermal energy exploration

The acceptance of EPG2037's application is a significant step for Whitebark Energy as it aligns with the company's goal of becoming a leader in Australia's energy transition. Geothermal energy is recognized as a reliable and cost-effective renewable energy source, capable of providing base-load power and firming, which are crucial for achieving Net Zero targets. The company is confident in its technical expertise and the capability within its team to deliver geothermal projects, aiming to drive significant value for shareholders.

Summary of Whitebark Energy's geothermal exploration permit acceptance

Whitebark Energy Limited (ASX: $WBE) has successfully secured the acceptance of its application for Exploration for Geothermal Energy ('EPG') in South-East Queensland. The permit, EPG2037, covering approximately 589 square kilometres, presents a unique opportunity for the company to expand its asset base in a strategic location close to the market. The company's commitment to aligning with Australia's rapidly transitioning energy markets is evident through this acceptance. Whitebark Energy aims to develop and grow its gas and geothermal exploration assets, providing progress updates to shareholders as they occur. The company's focus on geothermal energy assets reflects its belief in the future potential of geothermal energy as a source of base load renewable energy. The company's General Manager, Adam Stepanoff, emphasized the importance of geothermal energy in the energy transition and the company's goal of becoming a leader in this transition. Whitebark Energy will continue to identify a works program for the tenements, including timelines and financing, as it moves forward with its geothermal exploration endeavors.