Ann: Wizard Lake Online - Field Production Rate Update, page-11

Expecting over 200 Boe/d at Wizard Lake
Yesterdays volume was good, liquidity coming back into this stock
& a chart of significance has begun, but still way undervalued.
Should get up to $10m mkt cap @approx 6.5 cents imo
News of further drilling of existing infrastruture will boost further, so 10 cents is
achievable.


2P Reserves include 1P Proven Developed Producing Reserves (‘PDP’ – those remaining reserves attributed to existing wells Rex-1 through Rex-4); 1P Proven Undeveloped Reserves (‘PUD’ – those reserves accessible from existing infrastructure and requiring the drilling of Rex-5 through Rex-7); and 2P Probable Reserves (those accessible and requiring a new well-pad, new facilities and the drilling of Rex-8 and Rex-9 (for the purpose of this assessment).


The net present value (NPV 10% Before Tax) of Whitebark’s 2P reserves at 30 June 2023 is calculated to be AUD $15.398 million (@ CAD1.0 = AUD1.15).