Beetaloo Energy Australia Limited: Quarterly Activities Report - 30 June
Sydney, Australia - Beetaloo Energy Australia Limited (ASX:BTL) (OTCMKTS:EEGUF) provide the Quarterly Activities Report - 30 June.- $35 million share placement and SPP completed with strong SPP participation
- Successful completion of hydraulic stimulation of Carpentaria-5H well
- IP30 flow rate results are expected by end September
- Traditional owner consent to the sale of appraisal gas from the Carpentaria Pilot Project
- Change of name to Beetaloo Energy Australia Limited
- Total liquidity at end of the Quarter $55.0 million comprising $39.4 million in cash and $15.6 million of undrawn funding available under the Macquarie facilities*
"This has been a breakthrough quarter for the company with our change of name to Beetaloo Energy Australia Limited, completion of a $35 million share placement and SPP, successful completion of the longest hydraulic stimulation of a gas well in Australia, and Traditional Owner consent to sale of appraisal gas.
The results of the IP30 flow test following the hydraulic stimulation of Carpentaria-5H next quarter will be an important step towards first gas production from the Carpentaria Pilot Project
I want to thank the Beetaloo Energy team along with our partners and stakeholders for the focus and determination that has gone into the achievements in the quarter, with the focus now on completion of the Carpentaria Pilot Project including installation of the Carpentaria Gas Plant, with production expected to commence in 2026".
Alex Underwood, Managing Director
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/H7QAA2O2
About Beetaloo Energy Australia Limited:
Beetaloo Energy Australia Limited (ASX:BTL) (OTCMKTS:EEGUF) holds 28.9 million acres of highly prospective exploration tenements in the McArthur Basin and Beetaloo Sub-basins, Northern Territory. Work undertaken by the Company since 2010 demonstrates that the Eastern depositional Trough of the McArthur Basin, of which the Company holds around 80%, has enormous conventional and unconventional hydrocarbon potential. The Beetaloo Sub-basin, in which Beetaloo Energy holds a substantial position, has world-class hydrocarbon volumes in place and a ramp up in industry activity to appraise substantial discoveries already made by major Australian oil and gas operators is ongoing.
Source:
Beetaloo Energy Australia Limited
Contact:
Beetaloo Energy Australia Limited E: info@beetalooenergy.com T: +61-2-9251-1846 F: +61-2-9251-0244 WWW: www.beetalooenergy.com
