Whitebark Energy Limited (Whitebark) has further expanded its potential geothermal portfolio in Australia with the acceptance of the EPG2050 Geothermal Exploration Permit. Combined with previously awarded permits EPG2037 (South-East Queensland) and EPG2049 (South-West Queensland), this brings the EPG assets of Whitebark in the Queensland region to a total area of 6,240 square kilometers.
EPG2050 consists of 573 sub-blocks within the Cooper Basin, approximately 125 kilometers South-West of Eromanga in South-West Queensland. With an area of approximately 1,776 square kilometers, the site was identified following a comprehensive review of a number of geological considerations, future market access availability in the region, and expected synergies from the nearby EPG2049 asset.
EPG2050 has been identified as having the potential to support geothermal development and hydrogen production. Initial indications from offset well data indicate an elevated geothermal gradient with considerable potential for long-term production of geothermal energy and hydrogen for the region.
Whitebark had recently announced a commercialization development pathway for hydrogen production in the company’s geothermal assets. This is in line with the Australian government’s initiative of promoting hydrogen production through extensive funding support and supporting the establishment of a “Hydrogen Highway” through inland Australia.
“The acceptance of EPG2050 further underscores our commitment to harnessing geothermal resources, complementing our existing EPG assets in renewable energy production. We are excited about the potential our combined portfolio holds and will continue to evaluate opportunities as part of our currently underway hydrogen commercialization study and the recently announced hydrogen funding Government consultation,” said Adam Stepanoff, General Manager at Whitebark.
“Renewable energy production initiatives continue to attract strong support from investors and government bodies and we remain committed to meeting the growing demand for clean, reliable energy.”
Source: Whitebark Energy via ASX
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