Australia's Whitebark Energy leaps on buying energy firm

H3 Energy

20/12/2024 24:40

** Whitebark Energy  WBE.AX  leaps as much as 71.4% to
A$0.012, highest level since July 11
    ** Oil and gas producer says it will acquire Australian
energy co King Energy for A$1.7 mln ($1.1 mln)
    ** King Energy currently owns 70% of one of Australia's
largest sub-salt, white hydrogen, helium and gas projects
    ** Stock logs biggest intraday pct gain since Oct. 19
    ** Over 18 mln shares traded in stock's busiest session ever
    ** Still, WBE down 50% YTD

($1 = A$1.6051)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))