** Whitebark Energy WBE.AX leaps as much as 71.4% to A$0.012, highest level since July 11
** Oil and gas producer says it will acquire Australian energy co King Energy for A$1.7 mln ($1.1 mln)
** King Energy currently owns 70% of one of Australia's largest sub-salt, white hydrogen, helium and gas projects
** Stock logs biggest intraday pct gain since Oct. 19
** Over 18 mln shares traded in stock's busiest session ever
** Still, WBE down 50% YTD
($1 = A$1.6051)
(Reporting by Adwitiya Srivastava in Bengaluru)
((Adwitiya.Srivastava@thomsonreuters.com;))
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