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BEETALOO ENERGY AUSTRALIA LIMITED
Symbol	EEGUF
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Beetaloo Energy (EEGUF) Quarterly Activities Report: Advances Carpentaria Pilot Project Towards Q4 2026 Commissioning

2026-10-19 19:02 ET - News Release

Sydney, Australia, Oct 20, 2026 - (ABN Newswire) - Beetaloo Energy Australia Limited (ASX:BTL) (OTCMKTS:EEGUF) progressed construction of its Carpentaria Gas Plant during the quarter ended 30 September 2026, with commissioning and first pilot gas sales anticipated in Q4 2026. The Company also completed the Carpentaria-5H IP30 flow test and acquisition of the Birdum Creek 2D Seismic Survey.

Carpentaria Pilot Project and Western Beetaloo

Mechanical work on the Carpentaria Gas Plant was largely complete, with the focus on completing the instrumentation and electrical work before commissioning. The Carpentaria Pilot Project was tracking on schedule and budget for commissioning in Q4 2026.

On 13 July 2026, Beetaloo Energy announced completion of the Carpentaria-5H IP30 flow test. The well achieved a peak flow rate exceeding 14 TJ/day, an average rate of 6.9 TJ/day over the 30-day test period and an exit rate of 6.7 TJ/day.

Following testing, Carpentaria-5H was shut in pending connection to the Carpentaria Gas Plant alongside Carpentaria-2H and Carpentaria-3H.

Acquisition of the 236-kilometre Birdum Creek 2D Seismic Survey across EP167 and EP168 was completed by the end of July. The survey covers the Western Beetaloo gas discovery area and is designed to improve subsurface characterisation, refine structural interpretation and inform the placement of future horizontal wells.

Beetaloo Digital

On 22 July 2026, the Company announced the launch of Beetaloo Digital, a wholly owned subsidiary established to progress a proposed vertically integrated gas-to-power and data centre development in the Northern Territory.

The Northern Territory Government granted the Company exclusivity over approximately 185 hectares of contiguous land at Weddell, south-east of Darwin, enabling concept and pre-FEED studies and discussions with prospective consortium partners.

Beetaloo Energy announced a non-binding Memorandum of Understanding with Halliburton on 30 July 2026 to support assessment of the upstream gas resource underpinning Beetaloo Digital.

On 24 August 2026, the Company announced a non-binding Memorandum of Understanding with Australian Gas Infrastructure Group to assess gas transportation and associated infrastructure. The work includes preliminary assessment of an approximately 750-kilometre pipeline from the Carpentaria Gas Project towards future demand centres in the Darwin area, together with gas processing and associated facilities.

Financial Position and Funding

In its quarterlycommentary, the Company reported total available liquidity of $113.2 million, comprising cash of $51.7 million and undrawn amounts of $17.6 million under the Research and Development Facility, $42.5 million under the Midstream Facility and $1.5 million under the Performance Bond Facility. All facilities are held with Macquarie Bank.

The Company reported in its quarterly commentary that, on 28 September 2026, it received its FY2025 Research and Development Tax Incentive refund of approximately$19.1 million, together with $0.3 million in interest. In accordance with the terms of its Macquarie Research and Development Facility, the Company intends to fully repay the outstanding loan balance of approximately $12.4 million within 30 days ofreceipt of the refund.

No drawdowns were made under the Company's $30 million Research and Development Credit Facility or $45 million Midstream Infrastructure Facility during the quarter.

Capitalised exploration expenditure totalled $20,550,816, comprising $17,880,723 for the Carpentaria Pilot Project and $2,670,093 for the Birdum Creek 2D Seismic Survey. Expensed exploration expenditure totalled $1,608,990.

The Company continued to provide funding to Territory Sands under the loan agreement supporting development of the proposed Forest Hill South frac sand operation. Total loan drawdowns amounted to approximately $7.4 million at 30 September 2026.

Community Engagement

Beetaloo Energy supported the Malandarri Festival in Borroloola, celebrating the culture, traditions and creativity of the Gulf region. Bringing local communities together through music, dance, art and cultural activities, the festival provides an opportunity to celebrate First Nations culture and strengthen community connections.

The Company's support reflects its ongoing commitment to building positive relationships with communities across the Northern Territory and contributing to initiatives that celebrate local culture and community wellbeing.

Beetaloo Energy also sponsored the Top End Bull Spectacular, which celebrates the Northern Territory's agricultural heritage and rodeo traditions. The event brings together competitors, families and spectators from across the region, providing an opportunity to showcase local talent and strengthen community connections.

The sponsorship reinforces the Company's commitment to supporting grassroots initiatives and contributing to the vibrant communities of the Northern Territory.

*To view the Quarterly Report, please visit:
https://abnnewswire.net/lnk/1037V8SW

Editorial Note:

This media release has been independently prepared by ABN Newswire editorial staff based on Beetaloo Energy's Quarterly Report. It is intended as an editorial summary of information disclosed in that report and should be read in conjunction with Beetaloo Energy's full ASX announcement. All financial, operational and post-reporting-period information in this editorial has been sourced from the Company's report.

About Beetaloo Energy Australia Limited:

Beetaloo Energy Australia Limited (ASX:BTL) (OTCMKTS:EEGUF) holds 28.9 million acres of highly prospective exploration tenements in the McArthur Basin and Beetaloo Sub-basins, Northern Territory. Work undertaken by the Company since 2010 demonstrates that the Eastern depositional Trough of the McArthur Basin, of which the Company holds around 80%, has enormous conventional and unconventional hydrocarbon potential. The Beetaloo Sub-basin, in which Beetaloo Energy holds a substantial position, has world-class hydrocarbon volumes in place and a ramp up in industry activity to appraise substantial discoveries already made by major Australian oil and gas operators is ongoing.

Contact:

 
Media and Investor Enquiries
Nick Kell
E: info@beetalooenergy.com
T: +61-2-9251-1846
WWW: www.beetalooenergy.com