Top End Energy Limited (Top End or the Company) (ASX:TEE) is pleased to announce that it has received written notification from the Northern Land Council (NLC) that the native title holders of Exploration Permit (EP) 258 (the Permit) have provided instructions to enter into an exploration agreement with the Company1. This is the critical path item required for the formal grant of the Permit.

HIGHLIGHTS

• Native title holders of Greater McArthur Basin EP 258 have agreed to enter into an exploration agreement with the Company following third on country meeting

• Critical milestone reached, unlocking path for near-term grant of EP 258 which would represent the first EP to be granted in the NT since 2015

• Post-grant exploration program designed to confirm the extension of the Velkerri Shale, the target for operators in the nearby highly prospective Beetaloo Basin, and presence of the conventional Bessie Sandstone formation on the Permit 

• AGG survey to commence post-grant to provide high resolution gravity gradient datasets to aid structural interpretation and optimise acquisition parameters and location of planned 2D seismic survey

• Operators in the Beetaloo Basin remain very active with ongoing drilling campaigns targeting near-term pilot projects

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