Whitebark pins down well costs for giant SA hydrogen-helium hunt
A detailed engineering study conducted by global energy consultancy Zenith Energy has wrapped up, giving the company a green light to drill its first deep drill hole into its particularly large Rickerscote target. The prospect is a behemoth sub-salt structure spanning more than 180 square kilometres and potentially up to 400 square kilometres.
According to the report, the well will need to be drilled to a total depth of 2400 metres and has been priced at a surprisingly modest cost of $7.7 million. For a project of this magnitude, with multiple stacked reservoir targets in play, the estimated price tag is a game-changer and well below industry norms, Whitebark says.
Rickerscote is one of the biggest seismically defined onshore structures in Australia, and has headline-grabbing potential to host helium, hydrogen and hydrocarbon resources. However, it is completely undrilled.
The company picked up two further targets in the structural depth mapping. Milford and Milford East, directly to the east of Rickerscote, span an impressive 230 square kilometres and 160 square kilometres, respectively.
The company says the sheer size of the three prospects combined is comparable to the surface area of other giant Australian fields, such as Barrow Island, Gorgon and Kingfish, which collectively hold as much as 3.7 billion barrels of oil equivalent.
Armed with the new report, Whitebark has put out the feelers on rig availability and received multiple responses from contractors confirming open slots for 2026. The response prompted it to move quickly and line up all the pieces required to kick off drilling in the second half of next year, pending approvals.
If Whitebark's broader Alinya project is a sleeping giant, with more than 20 identified prospects, Rickerscote is the company's jewel in the crown. Its massive closure area has the potential to host multiple resource plays stacked across a single structural trap.
Whitebark intends to run a 2D seismic infill program later in the year to improve detailed imaging of the prospect, allowing it to further tighten up on the drill target.
Management says success at Alinya could open up an entirely new hydrogen, helium and hydrocarbon province for the nation. This could mean fresh export potential to Asia, domestic gas security and a major leap forward in Australia's clean energy credentials.
As it ticks off rig contracts, seismic lines and regulatory boxes, Whitebark is poised to turn a bold subsalt vision into a well-defined reality.
Is your ASX-listed company doing something interesting? Contact:
matt.birney@wanews.com.au
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