Whitebark Energy directors demonstrate faith in the company through acquiring shares

Whitebark Energy directors demonstrate faith in the company through acquiring shares

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Whitebark Energy Ltd (ASX:WBE) directors demonstrated their faith in the company through the acquisition of shares. Chairman Charles Morgan acquired 2.5 million shares and 20 million options for a value of $25,000. Managing director David Messina acquired 6.50 million shares and 40 million options for $25,000 and director Stephen Keenihan acquired 5 million ordinary shares for $50,000. COVID-19 response  On March 24 the company said it was combating low oil prices and the COV-ID pandemic by cutting overhead costs. Cuts include reducing directors’ fees and salaries by 50%. Whitebark’s chairman Charles Morgan said: “I would like to thank the Whitebark team, both in Australia and Canada, for working with us during this difficult time.  “Whitebark has a great low-cost asset in the Wizard Lake Oilfield and great people.  “With their support, the business will be well placed to benefit from any recovery in the oil price."

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