BUZZ-Australia's Whitebark Energy leaps on buying energy firm

Reuters

2024/12/20

BUZZ-Australia's <a href="https://laohu8.com/S/WBE.AU">Whitebark Energy</a> leaps on buying energy firm

** 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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