Beetaloo Energy Advances Carpentaria Gas Plant and Secures Strong Liquidity

Carpentaria Gas Plant Construction Progresses on Schedule

Beetaloo Energy (ASX:BTL) marked a pivotal quarter as construction of its Carpentaria Gas Plant advanced significantly, with key components installed and structural works well underway. The project remains on budget and is set for commissioning in the fourth quarter of 2026, a milestone that will enable the company to commence pilot gas sales by tying in its existing Carpentaria horizontal wells.

Clearing for the flowlines connecting the wells to the plant has been completed, underscoring steady operational momentum. The company reported no safety incidents during the quarter, reflecting disciplined project execution.

Carpentaria-5H Well Demonstrates Stable Gas Production

The Carpentaria-5H well delivered an average 30-day flow rate of 6.9 terajoules per day (TJ/day) following flow testing that began mid-June and concluded after quarter-end. The well initially peaked above 14 TJ/day before settling into this steady output, with an exit rate of 6.7 TJ/day, indicating a remarkably low decline rate.

This performance supports previous estimates of recoverable gas at approximately 10 petajoules (PJ) at the well location and provides valuable data for future reservoir management and well planning. The well will be shut in and connected to the gas plant alongside Carpentaria-2H and Carpentaria-3H ahead of pilot production.

Birdum Creek 2D Seismic Survey Completed to Aid Drilling Plans

Beetaloo Energy completed acquisition of a 236-kilometre 2D seismic survey over the Birdum Creek area in permits EP167 and EP168, covering a resource area estimated at over 20 trillion cubic feet (TCF). The survey aims to improve reservoir characterisation and support horizontal drilling strategies.

Seismic data processing is underway, with interpretation expected in the third quarter of 2026, potentially unlocking new drilling opportunities within the Western Beetaloo permits.

Financial Position Strengthened by Capital Raises and Facility Drawdowns

Liquidity at quarter-end rose to $124.9 million, comprising $63.3 million in cash and $61.5 million of undrawn funding across facilities with Macquarie Bank. This follows a successful $5 million Share Purchase Plan completed during the quarter, complementing a $66.3 million institutional placement from April.

Additionally, Beetaloo drew $2.5 million from a $45 million Midstream Infrastructure Facility to support ongoing construction activities. The company maintains $17.5 million available under its Research and Development Credit Facility, with no drawdowns made during the quarter.

Territory Sands Partnership Advances Local Frac Sand Development

In a strategic move to secure supply chain resilience, Beetaloo Energy executed long-form loan agreements with Territory Sands to develop the Forest Hill South frac sand project. This initiative aims to establish a local source of high-quality quartz sand for hydraulic fracturing, reducing logistics costs and fostering regional economic benefits through local employment.

Initial loan drawdowns commenced after quarter-end, marking a key step toward operationalising this supply chain component critical to the Beetaloo Basin’s development.