• Hydraulic stimulation has commenced on Beetaloo Energy’s Carpentaria-5H well in Beetaloo Basin permit EP 187
• Carpentaria-5H is the longest horizontal well in the Beetaloo Basin
• Over 60 stimulation stages are planned across the 3,310 metre (10,860 feet), 5 ½” cased horizontal section within the Velkerri B Shale
• The campaign is being conducted by Halliburton with a 42,000 hydraulic horsepower spread to implement a stimulation design with the following enhanced benchmarks:
• • ~100 bbl/minute pump rate
  • >50 bbl/ft slickwater stimulation fluid intensity
  • >2,400 lb/ft proppant (sand) intensity
• The stimulation is expected to take approximately four weeks to complete
• Following completion, Beetaloo Energy will undertake a ~30-day period of cleanup and soak, followed by a 30-day production test Beetaloo Energy expects to release IP30 flow rate results in late Q3 2025
• Carpentaria-5H forms part of the Carpentaria Pilot Project along with Carpentaria-2H and Carpentaria-3H wells that have been previously drilled and stimulated from the same well pad
• Beetaloo Energy’s cash at bank is $40.5 million

“The stimulation of Carpentaria-5H is an historic moment in the development of the Beetaloo Basin. This is the first well in the basin targeting a stimulation across a 3km (2 mile) horizontal section.

Horizontal drilling and hydraulic stimulation revolutionized the United States’ energy system, driving down energy prices and emissions intensity while stimulating economic activity. This is an opportunity that Australia now shares through the development of the Beetaloo Basin.

The Beetaloo Energy team is committed to playing a key role in providing increased gas supply to the Northern Territory market, then the Australian East Coast market, and ultimately the broader region. This, in the success case, will increase the reliability of our energy system, put downward pressure on energy prices and facilitate increased economic growth.

We look forward to sharing the results of the program with shareholders over the coming months.” Alex Underwood, Managing Director