With this new permit, White bark further expands its potential geothermal portfolio. The company had recently been awarded the EPG2037 permit covering the Greater Brisbane and Gold Coast Region in South-East Queensland. Whitebark now holds a total area of 4,464 square kilometers across the two EPGs.
The new permit area in the Cooper Basin has been identified as having the potential for geothermal development and green hydrogen production. Initial data from offset wells indicate an elevated geothermal gradient in the area with considerable potential for long-term commercial exploitation. This was based on the assessment done by the team, including an energy to market analysis.
“The acceptance of EPG2049 in conjunction with our recent acceptance of EPG2037s application, represents an exciting development in the Company’s geothermal strategy. Along with our technology partners, Whitebark will be in a prime position to deliver geothermal energy and green hydrogen into the national highway network,” said Adam Stepanoff, Whitebark General Manager.
Whitebark Energy had recently signed a Heads of Terms agreement with CeraPhi Energy to collaborate on the development of Whitebark’s recently acquired geothermal assets. CeraPhi will support Whitebark as a strategic development partner using its proprietary closed-loop technology CeraPhiWell™.
The acceptance of the additional EPG application provides a unique opportunity to expand the Company’s asset base in a strategic location. In conjunction with the Company’s technology partner the Company has begun to identify a works program for EPG2049 and EPG2037, including timelines and financing.
