Beetaloo Energy (ASX:BTL) Logs 6.9 TJ/Day 30-Day Average at Carpentaria-5H

Sonal Goyal

20 October 2026 01:25 PM AEDT

Beetaloo Energy (ASX:BTL) Logs 6.9 TJ/Day 30-Day Average at Carpentaria-5H

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Key Highlights

Carpentaria-5H IP30 test: peak rate above 14 TJ/day, 30-day average of 6.9 TJ/day and exit rate of 6.7 TJ/day
Commissioning of the Carpentaria Gas Plant and first pilot gas sales are anticipated in Q4 2026, with mechanical work largely complete
A 236km Birdum Creek 2D seismic survey across EP167 and EP168 in Western Beetaloo finished acquisition by the end of July
Cash of A$51.7m and liquidity of A$113.2m at 30 September 2026, after an FY2025 R&D refund of about A$19.4m including interest

Beetaloo Energy Australia Limited (ASX:BTL) reported a peak flow rate above 14 TJ/day from its Carpentaria-5H (C-5H) well during the IP30 flow test, which averaged 6.9 TJ/day across 30 days before exiting at 6.7 TJ/day. The company announced completion of the test on 13 July 2026 and covered it in its September 2026 quarterly report. At 30 September 2026, Beetaloo Energy held cash of A$51.7 million and total liquidity of A$113.2 million, while the Carpentaria Pilot Project remained on schedule and on budget for Q4 2026 commissioning.

Carpentaria-5H Flow Test Results

The IP30 test on C-5H produced a peak rate exceeding 14 TJ/day. Over the 30-day test period the well averaged 6.9 TJ/day, and its exit rate was 6.7 TJ/day. The company said results from several extended production testing periods since hydraulic stimulation in mid-2025 support an earlier estimate of 2C Contingent Resources at the well location, approximately 10 PJ, first reported on 29 May 2023. Following the test, C-5H was shut in awaiting connection to the Carpentaria Gas Plant, alongside Carpentaria-2H and Carpentaria-3H.

Carpentaria Gas Plant and Pilot Project

Work on the Carpentaria Gas Plant and its associated infrastructure at EP187 continues ahead of commissioning, with first pilot gas sales expected in Q4 2026. Most mechanical work is complete, and instrumentation and electrical work now take priority. Beetaloo Energy capitalised A$17,880,723 on the Carpentaria Pilot Project during the quarter. The A$45 million Midstream Infrastructure Facility saw no drawdowns, leaving A$42.5 million available at 30 September 2026 for construction, and nothing was drawn from the A$30 million Research and Development Credit Facility.

Birdum Creek Seismic and Beetaloo Digital

The 236-kilometre Birdum Creek 2D Seismic Survey across EP167 and EP168 in Western Beetaloo began at the end of the June quarter and finished acquisition by the end of July. The survey spans the gas discovery area in Western Beetaloo and aims to refine structural interpretation and guide where future horizontal wells are placed, with A$2,670,093 capitalised.

On 22 July 2026, the company launched Beetaloo Digital, a wholly owned subsidiary pursuing a proposed integrated gas-to-power and data centre development. The Northern Territory Government granted exclusivity over approximately 185 hectares at Weddell, south-east of Darwin. That allows concept and pre-FEED studies as well as talks with possible consortium partners. Non-binding memoranda of understanding followed with Halliburton on 30 July and with Australian Gas Infrastructure Group (AGIG) on 24 August. Halliburton is expected to provide expertise across field development, drilling, completions and production optimisation, while the AGIG agreement covers a pipeline of about 750 kilometres from the Carpentaria Gas Project towards demand centres around Darwin. The proposal still depends on technical studies, commercial agreements, financing and regulatory approvals.

Cash, Liquidity and the R&D Refund

Cash at quarter end was A$51.7 million, comprising A$50.9 million in Australian dollars plus US$0.8 million in US dollars. Total liquidity of A$113.2 million also includes A$17.6 million not yet drawn on the R&D Facility, A$42.5 million under the Midstream Facility and A$1.5 million under the Performance Bond Facility, all with Macquarie Bank. The FY2025 R&D refund arrived on 28 September 2026, at approximately A$19.1 million plus A$0.3 million of interest, and the company intends to repay the roughly A$12.4 million balance of the R&D Facility loan within 30 days. Debt was A$18,474,618 and net cash A$32,238,572, against A$44,778,287 at 30 June 2026.

Expenditure, Loans and Other Items

Capitalised exploration expenditure totalled A$20,550,816 for the quarter, while A$1,608,990 was expensed, and no production and development expenditure was incurred. The company kept funding Territory Sands under a loan agreement supporting the proposed Forest Hill South frac sand operation, with total drawdowns of approximately A$7.4 million at 30 September 2026. The exercise of 1,321,460 options at 24c per share generated A$317,150. Related-party payments were A$293,612, comprising A$21,022 of director fees and A$272,590 for the Managing Director and related parties.

Quarter in Numbers

Beetaloo Energy's C-5H test peaked above 14 TJ/day, averaged 6.9 TJ/day over 30 days and exited at 6.7 TJ/day. The Carpentaria Gas Plant is on schedule for Q4 2026 commissioning, the 236-kilometre Birdum Creek survey is complete, and Beetaloo Digital holds exclusivity over about 185 hectares at Weddell. Liquidity was A$113.2 million at 30 September 2026, including A$51.7 million in cash.

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