Beetaloo Energy Australia Limited (BTL.AX) Carpentaria-5H IP30 Flow Test Results

Sydney, July 14, 2026 AEST (ABN Newswire) - Beetaloo Energy Australia Limited (ASX:BTL) (EEGUF:OTCMKTS) reported positive IP30 flow test results from the Carpentaria-5H well, achieving a peak rate of over 14 TJ/day, an average rate of 6.9 TJ/day, and an exit rate of 6.7 TJ/day with a low rate of decline. The well continues to clean up effectively, supporting the previously disclosed recoverable gas (2C) estimate of approximately 10 PJ.

Highlights:

- Carpentaria-5H ("C-5H") IP30 flow testing is complete, achieving a peak rate of >14 TJ / day, an average rate over the 30-days testing of 6.9 TJ / day (IP30) and an exit rate of 6.7 TJ / day.

- A sustained production profile was maintained across the entire C-5H testing program, as demonstrated by latest exit rate of 6.7 TJ / day compared to the exit rate of the previous test of 6.3 TJ / day. This supports the potential long-term gas deliverability of the resource.

- The C-5H well is currently shut-in and will be tied in for production along with the Carpentaria-2H and Carpentaria-3H wells.

Alex Underwood, Managing Director commented:

"The C-5H results are another important milestone for Beetaloo Energy as we continue our transition from an exploration and appraisal company to a gas producer. The well has now delivered stable production performance across an extended testing period, providing further confidence in the quality of the Velkerri Shale at Carpentaria. Importantly, C-5H continued to demonstrate strong and consistent gas rates during clean-up, highlighting the quality of the reservoir and supporting our previously estimated recoverable gas resource at the well location. As we move closer to commissioning the Carpentaria Gas Plant and achieving first gas sales from the Pilot Project, we are increasingly focused on converting this resource opportunity into long-term value for shareholders."

As previously announced, IP30 flow testing commenced on 11 June 2026. The well opened with an initial gas rate of >14 TJ / day before settling to an average 30-day (IP30) rate of 6.9 TJ / day. The well exhibited a low rate of decline over the 30 days of testing, with an exit flow rate of 6.7 TJ / day.

Since completion of the C-5H hydraulic stimulation in July 2025, the well has demonstrated a progressive clean-up through the successive flowback and production testing campaigns. During this IP30 production period, water production declined significantly from approximately 1,300 barrels per day to around 440 barrels per day and continued to decrease throughout the test. The extended cleanup period reflects the substantially larger completion design of Carpentaria-5H ("C-5H"), which incorporates a longer lateral section and approximately twice the stimulation fluid intensity of the earlier Carpentaria-2H ("C-2H") and Carpentaria-3H ("C-3H") wells, necessitating a longer-duration and higher-volume flowback programme. C-5H water rates remain higher than C-2H and C-3H exit rates indicating that some clean-up is still ongoing.

Beetaloo Energy previously reported a 30-day clean-up production rate averaging 7.1 TJ / day, with an exit rate of 6.3 TJ / day, achieved using a larger choke setting than that used during the current IP30 production test. Across the two consecutive 30-day periods, the average production and exit rates were very similar, demonstrating stable and consistent performance. This further supports the previously disclosed recoverable gas (2C) estimate of approximately 10 PJ for the C-5H well location(1).

This extended production test has delivered valuable production and reservoir performance data that will inform future development activities and underpin Beetaloo Energy's transition from an exploration and appraisal company to a gas producer.

Following the extended production testing, the well has been shut in. With the anticipated commissioning of the Carpentaria Gas Plant in the fourth quarter 2026, the C-2H, C-3H and C-5H well will now be tied in for production for Pilot Project first gas sales.

(1) NSAI Contingent and Prospective Resources announcement dated 29 May 2023

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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.

  

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