Whitebark Energy Ltd (ASX:WBE) has a new substantial holder in Sydney-based Communications Power Incorporated Pty Ltd, which has accumulated a 5.43% stake.
Communications Power achieved this status on April 28 with the purchase of 13 million shares valued at more than $52,000.
This follows a series of acquisitions since January 8, 2020, with Communications Power now holding 165 million Whitebark shares.
JV partner to sell working interest[hhmc]
Whitebark's joint venture partner in the Wizard Lake Oil Project in Alberta, Canada, recently announced its intention to sell 97.5% of its 40% working interest in the oilfield.
The sale is to Point Lomas secured debenture holders and a secured creditor in exchange for cancellation of all the outstanding secured debentures and amounts owed to the secured creditor.>Read More – Source
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