Beetaloo Energy Australia (BTL) Q3 2025 TU earnings summary

Executive summary

• Achieved the largest hydraulic fracture stimulation in Australian history at Carpentaria-5H, marking a major operational milestone.

• Carpentaria-5H is shut in for soaking, with IP30 flow testing expected to begin in early November after equipment delays.

• Progressed toward a Final Investment Decision (FID) for the Carpentaria Pilot Project, pending final Ministerial approvals.

• Early civil works for the Carpentaria Gas Plant commenced, with key contractors appointed and local businesses engaged.

Financial highlights

• Ended the quarter with $27.1 million in cash and total liquidity of $32.6 million, including undrawn facilities.

• Drew down $10.1 million under the $30 million R&D Facility to fund the Carpentaria Pilot Project.

• Exercised 3,338,045 options at 24c per share, raising $801,131 in cash.

Outlook and guidance

• $30 million under the Macquarie Midstream Infrastructure Facility expected to be available post-FID for gas plant construction.

• IP30 flow test for Carpentaria-5H to commence in early November, with further pilot production planned.

• FID for the Carpentaria Pilot Project to be sought after final regulatory and traditional owner approvals.