Brief: Whitebark Energy Says Signs Binding Agreement To Invest In Wizard Lake

H3 Energy

14/06/2024 02:38

June 14 (Reuters) - Whitebark Energy  WBE.AX :
    * SIGNS BINDING AGREEMENT TO INVEST IN WIZARD LAKE
    * REX ENERGY HAS EXECUTED A PURCHASE AND SALE AGREEMENT
WHICH WILL
SEE CONFLUX ENERGY ASSUME A 90% INTEREST IN CANADIAN OPERATIONS
    * TRANSACTION INVOLVES CONFLUX ASSUMING ALL OUTSTANDING
CONTINGENT
LIABILITIES IN REX ENERGY OF CAD $1.44M
    * REX ENERGY WILL RETAIN A 10% WORKING INTEREST AS PART OF
TRANSACTION
    * SEES 10% INTEREST WILL SEE POSITIVE CASH RETURN TO
WHITEBARK

Further company coverage:  WBE.AX 

 ((Reuters.Briefs@thomsonreuters.com;))