• Xanadu 1 – Logging, pressure and fluid sampling to establish mobility of hydrocarbons intersected commencing within 24 hours.

• 9-18 Sparky Horizontal Well – strong shows (300+ units) and the well has been completed. It awaits stimulation and will then be put on production.

• Nordegg 5-31 recompletion – 24hr IP – 160 bpd oil, 850 mcfd gas.

Xanadu 1 Exploration Well – Perth Basin (15% WBE WI)

Xanadu-1 has intersected hydrocarbon bearing reservoirs demonstrated by elevated gas readings, oil shows, fluorescence and cut-fluorescence whilst drilling reservoir sections. Drilling results have provided sufficient encouragement for the TP/15 Joint Venture (JV) to commit to conducting a tubing conveyed, logging suite that includes pressure testing and fluid sampling to establish the mobility of the hydrocarbons and the thickness and quality of the pay interval. Logging is expected to commence within the next 24 hours.

In addition to the logging program, a 7” casing string is currently enroute to site from the North West, so that in the event logging results are positive, the well will be cased and suspended in preparation for an extended well test, once planning and approvals are complete.

Xanadu-1 was drilled as a conventional oil exploration well, designed to test for the presence of hydrocarbons in the Xanadu prospect, located offshore in shallow waters, 40km south of Dongara, Western Australia.

Drilling operations have made excellent progress since the well was spud on 4th September 2017 and evaluation of the Xanadu prospect is ongoing.

Operations on location have gone exceptionally well, and as a result drilling was extended an extra ~300m beyond the base of the High Cliff Sandstone to penetrate secondary objectives in the deeper Holmwood Shale section, reaching a TD of 2035m MDRT (TD previously 1863m MDRT).

Canadian Operations (20% WBE, 80% PLX)

Drilling

The 9-18 Sparky well was spud on the 8th September and reached TD of 2407m MDRT on September 16th. Strong gas shows (300+ units) with fluorescence were encountered in the horizontal leg through the Sparky reservoir interval and the well has been completed with production casing and awaits stimulation.

Following this result an additional four to six wells could be drilled on the section.

The rig is being mobilised to the second well in the drilling program at 02/1-32-55-7W5 which is an Ostracod oil pool infill well.

Stimulation equipment will be mobilised to undertake work on both wells once drilling operations at 1-32 have finished. Following stimulation, both wells will be tested and put on production during October.

Nordegg Recompletion

Point Loma has recompleted the 5-31 Nordegg well higher in the section than previously, and after establishing flow, the 24 hour IP averaged 160 bpd oil, 850 mcfd gas with 428 bpd water.

This encouraging result demonstrates the potential of the Nordegg for continued horizontal development with in excess of ten other locations in the immediate acreage.

The 5-31 well is currently shut in to observe pressure build up prior to placing it back on production which is anticipated later in September.

Whitebark CEO David Messina commented; “Finding hydrocarbons in all current drilling activities is a fantastic start to our campaign. Xanadu-1 was a high risk, high impact exploration well which has found hydrocarbons over a significant interval. We are looking forward to undertaking further testing to fully quantify the field over the coming days and months. The Canadian wells have also come in as hoped and we still have one further well to drill in the current campaign. Shareholders can now look forward to an exciting final quarter in 2017.”