Whitebark's JV partner share to go to creditors

WHITEBARK Energy’s Wizard Lake partner Point Loma Resources will sell the majority of its 40% stake in the Canadian oil project to its secured creditors Kasten Resources and a “private service provider” for C$2.9 million in return for cancellation of outstanding debts as Canadian oil prices tank. The Toronto Stock Exchange-listed company will keep 1%.

Whitebark's JV partner share to go to creditors Whitebark's JV partner share to go to creditors Whitebark's JV partner share to go to creditors Whitebark's JV partner share to go to creditors Whitebark's JV partner share to go to creditors

Perth company has 30-day window to refuse sale of Wizard Lake share to JV partner's creditors