Beetaloo Energy Australia Limited (EEGUF) Carpentaria-5H Operations Update

Since Beetaloo Energy Australia Limited (ASX:BTL) (OTCMKTS:EEGUF) successfully stimulated Carpentaria-5H with 67 stages across a 2,955 metre lateral length of the wellbore in July 2025, Beetaloo Energy has been focused on cleaning up the well in preparation for the IP30 flow test.

During the clean-up phase, flowback has been conservatively managed to prioritise production of pumped water while maintaining the quality of the fracture network that has been established for long-term gas productivity.

Beetaloo Energy has focused on returning pumped water to surface while cleaning up to optimise gas production over the life of the well.

Beetaloo Energy has observed substantial associated gas flows during this clean up period (see gas flare image below) and gas flows have continued to increase during this period.

The well has now been shut in for a period of 'soaking' prior to commencement of IP30 flow testing.

IP30 flow test results are expected to be announced in October 2025.

"The Beetaloo Energy team is pleased that the stimulation of Carpentaria-5H has generated an extensive network of fractures within the Middle Velkerri B shale from which we have flowed back both water as planned and significant associated gas during the clean-up phase.

Learning from previous wells, we have applied a conservative flowback strategy, focused on returning water to surface at measured rates to maintain the quality of the fracture network. We have been pleased with the strong performance of the well during the clean-up period.

The considered approach we are taking is to optimise our IP30 flow test and sale of appraisal gas to the NT Government commencing in mid-2026.

We look forward to announcing the IP30 flow test results following the reopening of the well."

- Alex Underwood, Managing Director

*To view photographs, please visit:
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Media and Investor Enquiries
Nick Kell
E: info@beetalooenergy.com
T: +61-2-9251-1846
WWW: www.beetalooenergy.com

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