Warro Gas Field’s Prospective Resources Reassessed: Up to 11.6 TCF Gas in Place Confirmed
Whitebark Energy has revealed significant new dry gas zones with minimal water in its Warro Gas Field, boosting the asset’s commercial prospects. The company also secured $750,000 in an oversubscribed placement to fast-track development activities.
- New petrophysical analysis identifies thick, dry gas zones in Warro Gas Field
- Warro Gas Field is 100% owned by Whitebark, located near key WA gas infrastructure
- Oversubscribed $750,000 capital raise completed to advance Warro activities
- Independent experts confirm substantial prospective resources including hydrocarbons, hydrogen, and helium
- Strategic positioning amid tightening WA domestic gas supply supports near-term development potential
New Technical Insights Revive Warro Gas Field Prospects
Whitebark Energy has announced a breakthrough in its evaluation of the Warro Gas Field, located in the Perth Basin of Western Australia. Fresh petrophysical analysis conducted by global specialist Steve Adams has delineated distinct dry gas zones with minimal mobile water across multiple wells, particularly in the Yarragadee Lower Formation. This discovery addresses previous challenges where overly broad completion intervals inadvertently stimulated water-bearing zones, suppressing gas flow.
The Warro Gas Field, wholly owned by Whitebark, is one of Western Australia’s largest undeveloped onshore gas assets, with legacy estimates ranging from 4.4 to 11.6 trillion cubic feet (TCF) of gas in place. Its proximity; just 30 kilometres from the Dampier-to-Bunbury Natural Gas Pipeline; positions it strategically to supply the tightening WA domestic gas market, which is facing increasing demand and supply constraints.
Capital Raise to Accelerate Development
To capitalise on these promising technical findings, Whitebark completed an oversubscribed placement raising $750,000 at $0.005 per share. This injection of capital is earmarked to fast-track activities related to the Warro prospect, including integrating production test data from wells Warro-3 and Warro-4 to design a targeted re-test focusing on the newly identified dry, gas-saturated intervals. The ability to deliver sustained dry gas flow is critical to unlocking the field’s substantial gas-in-place potential and moving towards commercial viability.
Broader Resource Potential and Strategic Outlook
Beyond hydrocarbons, Whitebark is advancing its 3H Strategy; targeting hydrogen, helium, and hydrocarbons; across its broader portfolio, including the Alinya Project in the Officer Basin. Independent expert evaluations by Sproule ERCE and Fluid Energy Consultants have confirmed “giant” prospective resource potential for hydrocarbons, hydrogen, and helium, underscoring the company’s diversified energy transition play.
While the Warro Gas Field has not seen exploration or production activity since an independent review in 2015 doubled its estimated size, the new technical insights and capital raise mark a pivotal step towards unlocking value. The company’s full ownership of Warro provides strategic flexibility for future transactions or development decisions, a notable advantage in a market where domestic gas supply is tightening.
Cautious Optimism Amid Inherent Risks
Whitebark’s announcement includes standard forward-looking statements cautioning investors about the inherent risks and uncertainties in exploration and development, including market conditions, financing availability, and operational execution. While the technical data is promising, further exploration, appraisal, and evaluation are required to confirm commercial quantities of moveable hydrocarbons.
Nevertheless, the combination of new technical data, strategic location, and capital support positions Whitebark Energy as a company to watch in the evolving Western Australian gas landscape.
Bottom Line?
Whitebark’s fresh technical insights and capital raise set the stage for a critical re-test at Warro, potentially reshaping WA’s gas supply outlook.
Questions in the middle?
- Will the upcoming re-test at Warro confirm sustained dry gas flow sufficient for commercial development?
- How will tightening WA domestic gas supply influence Whitebark’s strategic decisions and potential partnerships?
- What progress and timelines can investors expect from Whitebark’s broader 3H Strategy, especially hydrogen and helium exploration?
