– Whitebark Energy Ltd expanded geothermal potential with new permit, EPG2049, in Cooper Basin.
– EPG2049 covers 3875 km2 area for geothermal development and green hydrogen production.
– Company focused on strategic asset development and acquisition for renewable energy market.
Whitebark Energy Ltd has recently been granted an additional geothermal exploration permit, EPG2049, in the Cooper Basin in southwest Queensland, further expanding its potential geothermal portfolio. This new permit covers 1250 sub-blocks in the region, adding to the company’s existing permit in southeast Queensland. The company conducted a detailed review of geological factors and market access before acquiring EPG2049, bringing their total geothermal holding to 4464 km2.
The company believes that EPG2049 has the potential to support geothermal development and green hydrogen production based on initial data showing an elevated geothermal gradient in the area. This aligns with Whitebark’s strategic focus on delivering renewable energy solutions to meet the growing demand in the Australian market. The acceptance of the additional permit highlights the company’s commitment to expanding its asset base strategically.
Whitebark has begun working with technology partners to develop a program for exploring EPG2049 and EPG2037, focusing on timelines and financing. With a disciplined approach to asset development and acquisition, the company aims to leverage its expertise and partnerships to drive value for shareholders. This development positions Whitebark well to deliver geothermal energy and green hydrogen into the national energy network.