What Did White Energy (ASX:WEC) Acquire in the South Galilee Coal Project Deal?

Sonal Goyal

27 October 2026 12:29 AM AEDT

What Did White Energy (ASX:WEC) Acquire in the South Galilee Coal Project Deal?

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Key Highlights

White Energy (ASX:WEC) closed at $0.23, up 2.22%, on 26 October 2026.
It completed the Acquisition of the South Galilee Coal Project from the AMCI Group on 12 October 2026.
The purchase price was A$0.5 million in cash, paid at completion.

White Energy Company Ltd (ASX:WEC) closed at $0.23, up 2.22%, in the Trading session on 26 October 2026, while the S&P/ASX 200 closed at 8,809.9, up 0.17%, and the S&P/ASX 200 Energy index gained 0.92%. White Energy is a Queensland-based company quoted on the ASX and OTC markets with interests in coal and energy projects.

Acquisition Completed, Announced on 13 October 2026

White Energy announced that it completed the acquisition of the South Galilee Coal Project from the AMCI Group on 12 October 2026, following a previous announcement on 2 October. It acquired 100% of the issued Share Capital of AMCI (QCoal) Pty Ltd, which owns AMCI (Alpha) Pty Ltd, the holder of the project tenements.

The cash purchase price of A$0.5 million was paid at completion in accordance with the share sale and purchase agreement, which had limited conditions precedent. The company has assumed ownership and control of the acquired entities and the project.

About White Energy

White Energy Company Limited (ABN 62 071 527 083) is based in Newstead, Queensland. The announcement was authorised by Nathan Tinkler, executive chairman and managing director, who said the company looks forward to developing the project.

The share sale and purchase agreement had limited conditions precedent, which were satisfied before completion. The announcement refers to White Energy's previous announcement on 2 October 2026 and includes standard forward-looking statement disclaimers. The company is quoted on the ASX and OTC markets under the tickers WEC and WECFF.

Risks and Catalysts on Watch

The announcement does not provide resource figures, a development timetable or a funding plan for the project. Further announcements would set out those details.

Wrapping Up

White Energy has taken ownership of the South Galilee Coal Project for A$0.5 million. The shares closed up 2.22% on 26 October.

FAQs

Q: When did completion occur?

A:12 October 2026.

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