Beetaloo Energy Australia (BTL) Q1 2026 TU earnings summary

Executive summary

• Secured $66.3 million equity placement post quarter-end, reflecting strong investor support.

• Strengthened liquidity with $15.4 million R&D tax incentive refund received post quarter-end.

• Carpentaria Gas Plant construction fully funded; civil and piling works completed, refurbishment finished post quarter-end.

• Flow testing of Carpentaria-5H to recommence in Q2 2026; pilot production expected to start this year.

• Increased operational activity anticipated in the Beetaloo Basin, aligning with global shale trends.

Financial highlights

• Quarter-end cash balance was $7.5 million, with total liquidity of $14.3 million including undrawn facilities.

• $700,857 raised from exercise of 2,920,239 options at 24c per share.

• Net debt position at quarter-end was $(19.8) million, compared to $(10.2) million in the previous quarter.

• No production or development expenditure incurred during the quarter; $7.8 million capitalized for Carpentaria Pilot Project.

Outlook and guidance

• Carpentaria-5H flow testing to resume in Q2 2026, with gas plant production targeted later in the year.

• 2D seismic campaign planned for Western Beetaloo permits, with contracts expected in Q2 2026.

• Pilot production from Carpentaria and Shenandoah South projects anticipated to commence this year.