Whitebark's Alinya Project Targets Hydrogen and Helium with 2025 Seismic Plans

• Whitebark signs bid implementation agreement to acquire King Energy
• Multispectral remote spectroscopy study underway over PEL-81 and PEL-253
• Study aims to identify hydrogen, helium, and hydrocarbon gas emission points
• Geochemical field surveys planned for May 2025 to validate remote sensing data
• 2D seismic infill acquisition scheduled for second half of 2025 to refine drilling targets

Strategic Acquisition and Project Overview

Whitebark Energy Limited (ASX: WBE) has taken a significant step in expanding its exploration footprint by entering into a bid implementation agreement to acquire King Energy Limited. King Energy operates the Alinya Project, a substantial exploration asset in South Australia's Officer Basin, covering nearly 19,500 square kilometres across two Petroleum Exploration Licences (PEL-81 and PEL-253).

The Alinya Project is notable for its potential to host white hydrogen, helium, and hydrocarbons, with over 20 prospects already identified. Among these, the Rickerscote, Milford, and Milford East targets stand out as some of the largest undrilled sub-salt structures onshore Australia, highlighting the project's considerable upside.

Innovative Remote Sensing Exploration

King Energy has initiated a multispectral remote spectroscopy study in collaboration with specialist firm DIRT Exploration. Utilizing seven Sentinel-2 satellite scenes, this study leverages the unique spectral signatures of gases to detect natural emission points of hydrogen, helium, and methane across the project area. This approach represents a cutting-edge method to efficiently map gas anomalies over vast and remote terrain.

Results from this remote sensing phase are expected by mid-February 2025 and will be critical in selecting high-priority sites for subsequent in-field geochemical surveys. This data-driven targeting aims to improve the precision and cost-effectiveness of exploration efforts.

Field Surveys and Seismic Acquisition Plans

Following the remote sensing study, King Energy plans to deploy autonomous, long-term gas detection sensors at selected sites starting May 2025. These sensors will continuously sample gas emissions for up to a month, providing detailed geochemical data to validate and refine prospectivity models.

Building on these integrated datasets, the company intends to conduct 2D seismic infill acquisition in the second half of 2025. This seismic work will focus on high-graded prospects to delineate subsurface structures and support the identification of drill-ready targets.

Management Commentary and Outlook

Whitebark's Executive Director Mark Lindh expressed enthusiasm about collaborating with King Energy's team, emphasizing the shared commitment to advancing the Alinya Project. Meanwhile, King Energy Director Richard King highlighted the accelerated exploration timeline, aiming to mature a portfolio of high-value prospects for imminent drilling opportunities.

While the acquisition remains subject to customary conditions and approvals, these developments underscore Whitebark's strategic pivot towards leveraging innovative technologies and large-scale exploration assets to drive future growth.

Bottom Line?

As Whitebark and King Energy advance exploration with novel remote sensing and seismic techniques, the market awaits results that could unlock significant value in Australia's emerging hydrogen and helium frontier.

Questions in the middle?

• How will the results of the remote spectroscopy study influence the final selection of geochemical survey sites?
• What are the key conditions remaining for the completion of Whitebark's acquisition of King Energy?
• How might the integration of gas detection data and seismic surveys accelerate the timeline to drilling?