• Carpentaria-5H achieves peak gas flow rate of 11.2 TJ/day and 30-day average of 7.1 TJ/day
• Effective fracture network with longer fracture half-lengths and higher shale permeability
• Further extended flow test expected in Q1 2026 to fully assess well deliverability

Beetaloo Energy's Carpentaria-5H well has achieved a peak gas flow rate of 11.2 TJ/day and a 30-day average flow rate of 7.1 TJ/day during a 30-day clean-up flow test, confirming a very low rate of decline. The company has implemented basin-leading flowback methodologies to preserve fracture conductivity and maximise long-term well productivity, resulting in a more than five-fold increase in fracture conductivity compared to previous Carpentaria wells. Clean-up of the fracture fluid is ongoing, with over 23% of the fluid recovered to date. Independent resource certifiers have estimated 10 PJ of 2C recoverable gas resources per well location in the area surrounding Carpentaria-5H. Analysis by a North American shale reservoir engineering specialist indicates the well has developed an effective fracture network, with materially longer effective half-lengths and higher apparent shale permeability in the Carpentaria region, which may support improved gas recovery and overall project economics. A further extended flow test is expected to commence in Q1 2026 to fully assess well deliverability once clean-up is complete.

Beetaloo Energy estimates the Carpentaria-5H well has developed an effective fracture network, characterized by materially longer effective half-lengths and higher apparent shale permeability in the Carpentaria region, which may support improved gas recovery and overall project economics.

A further extended flow test is expected to commence in Q1 2026 to fully assess well deliverability once clean-up is complete. Civil construction works for the Carpentaria Gas Plant are well advanced, and gas sales are expected to start in H2 2026 with production from Carpentaria-5H, Carpentaria-3H, and Carpentaria-2H.