Whitebark Energy Divests Remaining 10% Interest in Wizard Lake to Conflux Energy.

Whitebark Energy Limited (ASX: WBE) has signed a binding Sale and Purchase Agreement with Conflux Energy Corp., completing the divestment of its Canadian operations. The transaction involves the sale of Rex Energy Limited, Whitebark’s wholly owned subsidiary, which holds the Company’s remaining 10% working interest in the Wizard Lake assets in Alberta, Canada. Under the agreement, Whitebark will receive CAD$141,486, subject to adjustments under the Joint Operating Agreement. Additionally, Conflux has agreed to waive CAD$32,043 in excess debt as part of the settlement terms.

This sale follows Whitebark’s earlier divestment of its 90% interest in Wizard Lake, finalised in March 2025. The decision to exit its Canadian operations reflects a strategic shift, enabling Whitebark to fully concentrate on its Australian asset portfolio, including the recently acquired Alinya Project. The Company emphasised its long-term focus on building a stronger exploration and production base within Australia.

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