Whitebark Energy Limited (Whitebark) has secured a new Geothermal Exploration Permit (GEP) in the Cooper Basin of Australia, marking a significant expansion of its geothermal portfolio. The EPG2049 permit encompasses 1250 sub-blocks, situated approximately 100 kilometers west of Windorah in South-West Queensland.
This latest permit adds to Whitebark’s recent acquisition of the EPG2037 permit, which covers the Greater Brisbane and Gold Coast Region in South-East Queensland. With the addition of EPG2049, Whitebark now commands a total area of 4,464 square kilometers across the two permits.
The Cooper Basin permit area has been identified as a promising site for geothermal development and green hydrogen production. Initial data analysis from offset wells indicates an elevated geothermal gradient in the region, suggesting significant potential for long-term commercial exploitation. This assessment, inclusive of an energy to market analysis, underscores the viability of the project.
Adam Stepanoff, General Manager of Whitebark, expressed enthusiasm about the company’s geothermal strategy, stating, “The acceptance of EPG2049 in conjunction with our recent acceptance of EPG2037 represents an exciting development in the Company’s geothermal strategy.” Stepanoff highlighted the potential for Whitebark to deliver geothermal energy and green hydrogen into the national highway network, positioning the company as a key player in the renewable energy sector.
In a strategic move, Whitebark Energy recently inked a Heads of Terms agreement with CeraPhi Energy to collaborate on the development of its geothermal assets. CeraPhi, utilizing its proprietary closed-loop technology CeraPhiWell™, will serve as a strategic development partner to support Whitebark in harnessing the potential of its geothermal resources.
The approval of the additional EPG application presents Whitebark with a unique opportunity to expand its asset base in a strategic location. The company, in collaboration with its technology partner, has already commenced planning a comprehensive works program for EPG2049 and EPG2037, outlining timelines and financing options for the development of these promising geothermal projects.