Whitebark Energy Validates 4.3 Tcf Gas and 1.3 Billion Barrels Liquids in Officer Basin

Independent Validation of Officer Basin Potential

Whitebark Energy Limited (ASX, WBE) has announced a significant update to the prospective hydrocarbon resources within its South Australian acreage in the Officer Basin. An independent assessment by Fluid Energy Consultants has confirmed the presence of substantial volumes of gas and liquids, highlighting the basin's potential as a major contributor to Australia's energy future.

The assessment covers two key permits, PEL 81 and PEL 253, with combined prospective resources estimated at 4.3 trillion cubic feet (Tcf) of gas and 1.3 billion barrels of liquids on an unrisked basis. These figures represent a robust endorsement of Whitebark's exploration strategy and the geological promise of the Officer Basin.

Rickerscote, The Crown Jewel Prospect

The standout feature of the update is the Rickerscote Prospect, described as one of the largest undrilled, seismically defined sub-salt structures onshore Australia. Fluid Energy Consultants' best estimate places Rickerscote's prospective resources at 1.06 Tcf of gas and 145 million barrels of liquids (100% basis), with Whitebark's 67% share equating to 707 billion cubic feet of gas and 97 million barrels of liquids.

Rickerscote's scale and geological complexity, including multiple stacked reservoirs and extensive closure areas, position it as a potentially transformative asset. The prospect's size and quality underscore the Officer Basin's emerging status as a frontier hydrocarbon province.

Additional Prospects and Strategic Positioning

Beyond Rickerscote, the Milford and Milford East prospects contribute further prospective resources, with combined best estimates of 58 billion cubic feet of gas and 181 million barrels of liquids (100% basis). Whitebark holds a 70% interest in these permits and retains an option to increase ownership to 100%, signaling confidence in the basin's long-term value.

The company is actively advancing exploration efforts, including imminent soil geochemistry surveys designed to de-risk the prospects and refine targeting ahead of potential drilling campaigns. These steps are critical to moving from prospective resources toward proven reserves.

Implications for Australian Energy Security and Transition

Whitebark's findings come at a time when Australia's energy landscape is evolving, with increasing emphasis on domestic supply and transition fuels. The Officer Basin's prospective resources could play a vital role in supporting energy security and providing hydrocarbons that complement the shift toward cleaner energy sources.

While the resource estimates remain unrisked and contingent on further exploration success, the independent validation adds credibility to Whitebark's vision of unlocking a new hydrocarbon province. The company is also assessing hydrogen and helium potential within the permits, hinting at a diversified energy portfolio in the future.