• Carpentaria-5H has achieved a peak gas flow rate of 11.2 TJ/day, the second-highest 30-day average flow rate in the basin of 7.1 TJ/day and an exit flowrate of 6.3 TJ/day, confirming a very low rate of decline over the 30-day clean-up test. 
• Beetaloo Energy has implemented basin-leading flowback methodologies to preserve fracture conductivity and maximise long-term well productivity. This approach utilises a restricted choke that extends the clean-up period, which has delivered a more than five-fold increase in fracture conductivity compared with the previous Carpentaria wells. 
• Clean-up of the frac fluid from the fracture system is ongoing with the gas-to-water ratio continuing to improve throughout the 30-day test period with over 23 percent of the frac fluid recovered to date. Once frac fluid clean-up was achieved at the prior two Carpentaria wells, materially higher gas flowrates were observed, with Carpentaria-3H recording a 30 percent increase in gas flow rate during the post clean-up IP30 flow test. 
• Independent resource certifiers Netherland, Sewell & Associates have estimated 10 PJ of 2C recoverable gas resources per well location in the area surrounding Carpentaria-5H. 
• Based on flowback data analysis conducted by Subsurface Dynamics, a North American shale reservoir engineering specialist, Beetaloo Energy estimates that the Carpentaria-5H well has developed an effective fracture network, characterised by materially longer effective half-lengths relative to the previous two Carpentaria wells and higher apparent shale permeability in the Carpentaria region. Beetaloo Energy believes these outcomes 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.
  

“We are highly encouraged to have achieved one of the highest flow rates in the history of the Beetaloo Basin while C-5H is still cleaning-up, demonstrating that the well is likely to be a strong long-term producer. We have deployed a disciplined flow-back strategy with a consistent choke setting since the second day of the test period, to maintain fracture conductivity for long-term well performance while the well dewaters. Total gas recovery is also likely to be enhanced by the 60% increase observed in permeability across the Carpentaria region.

As has been seen with C-2H and C-3H, there is the potential for a material uplift in flow rates once the well is further cleaned-up.

Clean-up is continuing and we intend to commence a second flow test in Q1 2026.

Civil construction works at the Carpentaria Gas Plant are now well advanced, and we look forward to commencing gas plant installation in Q2 2026.

With all required approvals now in place, we look forward to commencing pilot gas sales into the local NT market in 2026.

As 2025 comes to a close, we express our gratitude to the Beetaloo Energy team, our shareholders and all stakeholders, and we look forward to a big year ahead as we bring the Beetaloo Basin into pilot gas sales next year, which will benefit all Territorians.” ⎯ Alex Underwood, Managing Director

Source: Beetaloo Energy Australia Announcement