Industry News

• More than 160 global business leaders, investors, and decision-makers from 12 countries have gathered in Darwin for the 2026 Northern Territory Investment Summit.
• Now in its second year, the Summit is showcasing the Territory’s pipeline of investment-ready projects across energy, critical minerals, defence, agriculture, tourism, and advanced manufacturing.
• A globally connected Territory economy means more investment, more jobs, and more opportunities for Territorians.

The Finocchiaro CLP Government has brought the world to Darwin this week, with more than 160 invited business leaders, investors, and government decision-makers from 12 countries gathering for the 2026 Northern Territory Investment Summit.

The Summit comes at a pivotal moment, with the Territory rapidly emerging as one of Australia’s most strategically significant investment destinations – delivering the projects that matter to Australia’s future and the world’s growing demand for secure supply chains, energy security, and critical minerals.

Transformative projects including the Beetaloo Sub-basin, the Arafura Rare Earths Nolans Project and the Northern Marine Complex are reshaping the region and driving economic momentum.

The Beetaloo offers opportunities across exploration, development and long-term LNG offtake and is pivotal to Australia’s sovereign energy security, while Nolans positions the Territory as a reliable long-term supplier of the rare earths powering the industries of the future.

Over the week, delegates will explore opportunities across energy, defence, mining, agriculture, tourism, digital infrastructure, space, advanced manufacturing and maritime, and take part in a series of sector-focused roundtables.

The Summit builds on the Government’s proactive investor engagement, including the Minister-led Investor Roadshow to Japan, Korea, and Taiwan earlier this year, complemented by onshore engagement with Indonesia, Vietnam, and Singapore.

Chief Minister Lia Finocchiaro said the Territory was open for business.

"Around the world, demand is surging for the very things the Territory holds in abundance and which we can reliably deliver," the Chief Minister said.

"Nations and investors alike are searching for jurisdictions that offer political certainty, stability, and trusted partnership – and they are finding that their search leads here."

Minister for Trade, Business and Asian Relations, Robyn Cahill, said the Summit put Territory opportunities in front of the people who could back them.

“The Summit brings international investors, executives, and decision-makers together to see the scale of what’s transforming the Territory – energy, gas, critical minerals, and critical infrastructure – for themselves.

“For investors, the Territory offers what matters most: a trusted, stable, and globally competitive destination for long-term investment. This is a place of action, momentum, and delivery.”

Source: Northern Territory Government Newsroom

• Finocchiaro CLP Government will have delivered over 80% of fast-track approval reforms within 12 months from the release of the Approvals Fast-Track Taskforce’s final report.

• Fast-track reforms from the Approvals Fast Track Taskforce are designed to support government to reduce approval timeframes by 50%.

• Government launches NT Red Tape Portal to enable individuals, businesses and industry to report on regulations that create unnecessary burden, avoidable costs or delays.

The Finocchiaro CLP Government has delivered more than 50 approvals fast-track reforms to grow the Territory economy and launched a new portal designed to help further reduce red tape for business and industry.

This week marks a year since the Government promised it would deliver all 48 recommended actions "fast-tracked" for completion within 12 months from the release of the Approvals Fast-Track Taskforce’s final report.

The Government is delivering on that promise, with 58 of the 70 recommended actions expected to be completed by the 12-month deadline tomorrow (16 July).

Chief Minister Lia Finocchiaro said her Government's ability to meet its promise had cut red tape for business and made it easier to invest in the Territory.

"When we released the Taskforce's Saying 'Yes' to Business report last year, we made a commitment to Territorians that we would act," the Chief Minister said.

"Today, we can proudly say we have delivered over and above what we committed to implementing within 12 months."

Following the Finocchiaro CLP Government’s delivery of fast-track reforms, businesses are experiencing tangible results, including:

• Taking a risk-based approach to authorising mineral exploration and extractive operations has seen approval timeframes reduced by up to 30 business days

• Introducing a digital system to permit low-risk traffic and road activities has seen assessment timeframes reduced from around 12 days to fewer than four

• Removing public notice requirements from low-risk liquor licensing applications can reduce processing times by up to 33 days

• Six licence types have had their renewal periods extended, including builders’ licences and Priority 3 food business registrations (small-scale or home-based scale), which have already benefited more than 100 operators

• In planning, public consultation has been removed for low-risk applications saving around 14 days in cases where consultation has already taken place at earlier stages.

Meanwhile, the Government is today launching the NT Red Tape Portal as a way to give individuals, businesses and industry a stronger voice in the crackdown on red tape, unnecessary burden and avoidable cost or delay.

Feedback received through the Portal at haveyoursay.nt.gov.au/ntredtapeportal will help Government identify opportunities to streamline regulation, improve government processes and reduce unnecessary regulatory burden across the Territory.

“Alongside the fast-track approvals reforms the Finocchiaro CLP Government has delivered, this tool will give investors even more certainty and incentive to put their faith – and their job-making money – in the Territory," the Chief Minister said.

Source: NT Government Newsroom

Since its commissioning in 1986, the 1,650km Amadeus Gas Pipeline has served as the backbone of the NT’s energy system, delivering reliable gas to communities, industry, and power stations across the region.

Today, the Amadeus Gas Pipeline plays an even greater strategic role. It helps connect the Northern Territory with eastern Australian markets and lays the foundation for future energy security. With the new Sturt Plateau Pipeline soon to deliver Beetaloo gas to help keep the lights on across the Territory, and early planning underway for the proposed North to East Australia Pipeline, we’re building on four decades of reliable infrastructure to meet future energy demands.

Read the full article exploring how APA is advancing the NT’s energy network, supporting regional development, and securing Australia’s energy future : 

APA’s plans to secure energy for Australia.pdf

• Carpentaria-5H (“C-5H”) IP30 flow testing is complete, achieving a peak rate of >14 TJ / day, an average rate over the 30-days testing of 6.9 TJ / day (IP30) and an exit rate of 6.7 TJ / day.
• A sustained production profile was maintained across the entire C-5H testing program, as demonstrated by latest exit rate of 6.7 TJ / day compared to the exit rate of the previous test of 6.3 TJ / day. This supports the potential long-term gas deliverability of the resource.
• The C-5H well is currently shut-in and will be tied in for production along with the Carpentaria-2H and Carpentaria-3H wells.

“The C-5H results are another important milestone for Beetaloo Energy as we continue our transition from an exploration and appraisal company to a gas producer. The well has now delivered stable production performance across an extended testing period, providing further confidence in the quality of the Velkerri Shale at Carpentaria. Importantly, C-5H continued to demonstrate strong and consistent gas rates during clean-up, highlighting the quality of the reservoir and supporting our previously estimated recoverable gas resource at the well location. As we move closer to commissioning the Carpentaria Gas Plant and achieving first gas sales from the Pilot Project, we are increasingly focused on converting this resource opportunity into long-term value for shareholders.” ⎯ Alex Underwood, Managing Director 

CARPENTARIA-5H (C-5H)

As previously announced, IP30 flow testing commenced on 11 June 2026. The well opened with an initial gas rate of >14 TJ / day before settling to an average 30-day (IP30) rate of 6.9 TJ / day. The well exhibited a low rate of decline over the 30 days of testing, with an exit flow rate of 6.7 TJ / day.

Since completion of the C-5H hydraulic stimulation in July 2025, the well has demonstrated a progressive clean-up through the successive flowback and production testing campaigns. During this IP30 production period, water production declined significantly from approximately 1,300 barrels per day to around 440 barrels per day and continued to decrease throughout the test. The extended clean up period reflects the substantially larger completion design of Carpentaria-5H (“C-5H”), which incorporates a longer lateral section and approximately twice the stimulation fluid intensity of the earlier Carpentaria-2H (“C-2H”) and Carpentaria-3H (“C-3H”) wells, necessitating a longer-duration and higher-volume flowback programme. C-5H water rates remain higher than C-2H and C-3H exit rates indicating that some clean-up is still ongoing.

Beetaloo Energy previously reported a 30-day clean-up production rate averaging 7.1 TJ / day, with an exit rate of 6.3 TJ / day, achieved using a larger choke setting than that used during the current IP30 production test. Across the two consecutive 30-day periods, the average production and exit rates were very similar, demonstrating stable and consistent performance. This further supports the previously disclosed recoverable gas (2C) estimate of approximately 10 PJ for the C-5H well location1.

This extended production test has delivered valuable production and reservoir performance data that will inform future development activities and underpin Beetaloo Energy’s transition from an exploration and appraisal company to a gas producer.

Following the extended production testing, the well has been shut in. With the anticipated commissioning of the Carpentaria Gas Plant in the fourth quarter 2026, the C-2H, C-3H and C-5H well will now be tied in for production for Pilot Project first gas sales.

Source: ASX Announcement

• The Territory’s balance of trade surplus has climbed to $8.5 billion over the 12 months to May 2026 - up 3.3 per cent - as the Finocchiaro CLP Government rebuilds the economy.
   
• Territory goods exports reached $13.8 billion over the year, with Barossa gas now flowing through Darwin LNG - and more growth to come as the Beetaloo Basin is unlocked.
   
• A growing export economy means more jobs, more investment, and more choices for Territorians.

New trade data confirms the Territory economy is moving forward, with the value of goods exported climbing to $13.8 billion over the 12 months to May 2026, while imports declined to $5.3 billion – delivering an $8.5 billion trade surplus.

The result reflects the strength of the Territory’s resource exports, with Barossa gas now flowing through Darwin LNG and export volumes expected to keep building as the plant ramps up to full production through 2026.

And the pipeline of growth doesn’t stop there. With the Beetaloo Basin moving ahead, the Territory is positioned to anchor Australia’s energy security and supply for decades – meaning more jobs, more investment, and more opportunity for Territorians.

Minister for Trade, Business and Asian Relations, Robyn Cahill, said the figures showed the Territory playing to its strengths.

“For the first time in a long time, the Territory is moving forward. An $8.5 billion trade surplus tells the world we are open for business and delivering on our plan to rebuild the economy.

“Our energy exports are powering economies across Asia, and every shipment out of Darwin Harbour means jobs, investment, and opportunity for Territorians.

“There’s more work to do, but the momentum is real – Darwin LNG is delivering today, and with the Beetaloo to come, the best is still ahead of us.”

The Finocchiaro CLP Government is continuing to strengthen trade partnerships across the region, making the Territory the most competitive place in the nation to live, work, visit and invest.

Source: Northern Territory Government Newsroom

Santos has publicly released its updated 2030 Indigenous Participation Plan for the first time.

Training, education and jobs are the building blocks for economic empowerment. We want to provide more opportunities for more people and more businesses, and this plan outlines how we'll continue to do that.

Since 2021, we've made strong progress, including nearly doubling Indigenous employment and increasing Indigenous procurement spend from $9 million to $73 million.

Developed in consultation with our Indigenous employees and Indigenous Advisory Panel, the plan builds on this momentum with a focus on employment, career pathways, supplier opportunities, and strengthening relationships with communities.

We're listening, learning and working to deliver lasting benefits in the places where we operate.

Source: Santos LinkedIn

Read here: 2030-Indigenous-Participation-Plan.pdf

Independent analysis by Wood Mackenzie has confirmed the Federal Government's proposed domestic gas reservation would undermine investment in new gas supply, weaken Australia's long-term energy security and ultimately make it harder to deliver reliable and affordable gas to Australians.

The analysis found the Government’s proposal to require LNG exporters to supply 20 per cent of their export volumes to domestic users every year would force more than 200 petajoules of additional gas into an already well-supplied east coast market, creating a massive structural oversupply that would undermine the investment needed to avoid future shortfalls.

The report also found the proposed framework would crowd out domestic-focused gas producers that currently supply around two-thirds of the east coast market, discourage new gas exploration and development, introduce significant sovereign risk, and undermine Australia's reputation as a reliable energy supplier in the region.

Australian Energy Producers Chief Executive Samantha McCulloch said the analysis confirmed industry concerns that the proposed framework is fundamentally unworkable and needs significant changes.

“The proposed scheme will ultimately result in higher gas prices for Australian manufacturers because it will destroy investment in future supply, reduce competition and risk reliance on more expensive LNG imports for southern states,” Ms McCulloch said.

“It will have the perverse effect of reducing competition and stopping investment in Victoria and NSW where new supply is most needed.”

Australian Energy Producers’ submission on the draft framework outlines several recommendations to achieve a workable design that supports investment while ensuring a well-supplied gas market beyond 2030.

The submission calls on the Government to calibrate domestic supply obligations to actual market demand, fully protect existing contracts, and allow gas genuinely offered to the domestic market but not purchased to be exported without unnecessary regulatory hurdles.

It also recommends replacing annual Ministerial approvals with a more predictable, performance-based compliance framework. The scheme should also recognise the unique circumstances of Western Australia and the Northern Territory and exempt these jurisdictions in practice.

Ms McCulloch said Australian Energy Producers supported a well-designed, prospective domestic gas reservation scheme linked to new supply.

"The ultimate test of a successful policy will be if it delivers a more efficient and predictable framework that encourages investment, maintains competition and strengthens Australia's long-term energy security," Ms McCulloch said.

"However, the current proposal falls well short of this and without substantial changes it will ultimately lead to lower supply, higher prices and reduced tax and royalty revenue for governments.

“These reforms are complex and should not be rushed. Genuine and detailed consultation on the design is critical to avoid the same unintended consequences and damage associated with previous government interventions.”

Ms McCulloch said the reservation scheme must also be backed with reforms to fast-track projects currently held up in approval processes.

"Investing in new gas supply remains the only sustainable way to maintain affordable and reliable gas for Australian households and manufacturers. A reservation framework should support that objective, not undermine it."

Read the Wood Mackenzie report: Woodmac Energy

Read submission: Australian Energy Producers submission on draft reservation design framework.pdf

Source: Australian Energy Producers

Territorians living in apartments and units will continue to benefit from cheaper energy through shared rooftop solar with the NT Government extending the successful Solar for Multi Dwellings Grant Scheme for another 18 months to 31 December 2027.

The $2.35 million grant scheme, launched in October 2024 in partnership with the Australian Government, is already helping Territory households slash their power bills.

As at the end of June the scheme has committed more than $450,000 in grants to eligible Territory households.

The scheme has already helped over 200 Territory households to save an average of more than $1 ,500 a year on their energy bills.

This extension will give more Territorians in apartments and units the opportunity to access affordable power.

The initiative is funded through the Australian Government's Community Solar Banks program and managed by the Northern Territory Government.

The scheme supports apartment complexes across the Northern Territory to install shared rooftop solar systems by providing grants of $7,500 per unit, up to a total of 50% of the costs of installation, to eligible body corporates and other multi-dwelling management entities.

For more details, or to see if you are eligible to apply, go to Solar for Multi Dwellings Grant Scheme

Source: Northern Territory Government Newsroom

1 July 2026

• Carpentaria-5H flow testing is underway with a peak rate of >14 TJ / day, an averagerate of 7 TJ / day and a current rate of ~6.7 TJ / day, a remarkably low rate of decline. The well continues to clean up with decreasing water production, increasing gas to water ratio (“GWR”), increasingly gas-dominated flow and access to a steadily increasing volume of the reservoir
• Beetaloo Energy anticipates an IP30 rate by mid-July.
• Construction of the Carpentaria Gas Plant is proceeding to plan, incident free, on time and on budget
• First gas sales from the Pilot Project remain on track for Q4 2026
• Seismic acquisition has commenced across EP167 and EP168 in the Western Beetaloo.
• Territory Sands and Beetaloo Energy have completed long form documentation to theagreement announced 10th April which will support the development of the first in basin frac sand mine in the Beetaloo Basin
• Beetaloo Energy has met all conditions precedent and made an initial drawdown on the Macquarie Midstream Infrastructure facility
• Cash at bank $63.2 million
• Beetaloo Energy Australia Limited

"Beetaloo Energy is currently in the busiest period of exploration, appraisal and pilot development in its history, with active operations across flow-testing, gas plant construction, seismic acquisition and sand mine investment. We are on track to commence gas sales from the Carpentaria Pilot Project in Q4 2026.

The interim results we are seeing from the Carpentaria-5H flow test are highly encouraging. We have been pleasantly surprised by the very low rate of decline in gas rates while the well continues to clean up. Consistent with other recent wells in the basin, production performance in the Beetaloo Basin appears to differ from analogue basins in the United States which tend to come online at very high rates but with a commensurate rapid decrease in production rates before settling out. If low decline rates continue longer-term, this could have meaningful consequences for higher EUR per well, subject to longer-term well performance data.

Construction of the Carpentaria Gas Plant is continuing to plan with no HSE incidents, on time and on budget.

Seismic acquisition has commenced in EP167 and EP168. This program will allow BTL to delineate optimal drilling locations for future appraisal drilling activities. The Western Beetaloo resource is extremely large, representing multi-decade drilling and production potential, and is optimally located adjacent to road, rail and pipeline infrastructure.

We are pleased to have completed long-form documentation with Territory Sands to support their plans for the delivery of cost-effective sand supply to support stimulation activities for both BTL and other operators across the basin.

With over $63 million cash at bank and $42.5 million in undrawn facilities, the Company is very well funded through this year’s Beetaloo Basin programs."

⎯ Alex Underwood, Managing Director

CARPENTARIA-5H (C-5H)

Flow testing commenced on 11 June 2026. The well opened with an initial gas rate of >14 TJ per day before quickly settling to an average rate since reopening of 7 TJ / day. The well has exhibited a remarkably low rate of decline over the 19 days of testing, with a current flow rate of ~6.7 TJ / day.

The well has been flowing on 56/64” to 64/64” choke settings, which are significantly smaller than the 88/64” choke setting at the equivalent part of the 2025 clean up flow test.

Well cleanup is progressing effectively as flowback water volumes decline. Since reopening, the water rate has dropped from ~1,300 to ~500 barrels per day, with the water rate continuing to fall.

As a result, the gas-water ratio (“GWR”) has steadily climbed to a current ratio of ~11,000 scf / bbl demonstrating an increasingly gas dominated flow regime.

Analysis of the results to date demonstrates that the well is accessing an increasing volume of the reservoir as cleanup continues.

Management remains confident in the previously disclosed recoverable gas (2C) estimate of ~10 PJ1. Preliminary observations provide encouraging upside to this estimate; however further production data will be required before conclusions can be drawn regarding connected reservoir volume and long-term well productivity.

Testing is ongoing and the Company will advise shareholders once the test is complete.

WESTERN BEETALOO - EP167 AND EP168 SEISMIC SURVEY

An approximately 233-line km infill Birdum Creek 2D Seismic Survey has commenced acquisition across the deeper eastern portion of the Gas Discovery Area in EP167 and EP168. This represents the first on ground field program since the leases were acquired from Pangaea Resources in April 2021.

The Birdum Creek 2D seismic survey is designed to infill the existing 2D seismic grid across the resource area previously delineated by exploration and appraisal seismic and wells drilled by Pangaea Resources. The survey targets the same prospective reservoir intervals as the Carpentaria Project but focuses on an area where the Velkerri B Shale is significantly thicker, enhancing its development potential. The line orientation has been optimised to support future horizontal drilling, improve reservoir characterisation, and maximise potential drilling locations.

Seismic acquisition is expected to be completed by the end of July, with data processing and interpretation scheduled for completion during Q3 2026.

The Birdum Creek 2D Seismic Survey is expected to further delineate a resource exceeding 20 TCF and support the development of a multi-decade, LNG-scale drilling inventory strategically positioned adjacent to existing gas pipeline, road, and rail infrastructure.

CARPENTARIA GAS PLANT

Construction of the Carpentaria Gas Plant continues to plan.

There have been no environmental, health or safety incidents to date, demonstrating the professional approach taken by the Beetaloo Energy team and our contactor Wasco.

Construction remains on schedule and on-budget. Commissioning and commencement of Pilot Project gas sales from Carpentaria-2H, Carpentaria-3H and Carpentaria-5H remain on schedule for Q4 2026.

TERRITORY SANDS

Beetaloo Energy (BTL) and Territory Sands have fully executed the loan agreement under which BTL will provide $10.4 million to fund construction and commissioning of Territory Sand's fracture stimulation sand mining project in the Beetaloo Basin near Larrimah in the Northern Territory. Under the agreement with Territory Sands, BTL has priority access to fracture stimulation sand supply from the mine at market competitive pricing. This will significantly reduce the cost of sand supply for future well stimulations, thereby driving improved well economics in larger scale development scenarios.

The first tranche of loan funding to be made available by BTL will fund a deposit for purchase of sand screening equipment being manufactured to Territory Sand's fracture stimulation sand specifications.

MACQUARIE MIDSTREAM INFRASTRUCTURE FACILITY

BTL has satisfied all conditions precedent for drawdown under the Macquarie Midstream Infrastructure Facility and completed an initial drawdown of $2.5 million. Further drawdowns are expected throughout CY2026 as construction of the Carpentaria Pilot Project progresses.

ABOUT BEETALOO ENERGY

Beetaloo Energy 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 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.

11 June 2026

• All Carpentaria Pilot site civil works are complete, and installation of the Carpentaria Gas Plant is ongoing
• The last two trucks carrying the second compressor unit and the intercooler are in transit from Roma to the Carpentaria site. The Roma yard will be cleared and the lease returned this month
• Gas gathering pipelines are being installed to connect C-2H, C-3H & C-5H to the Carpentaria Gas Plant
• Carpentaria-5H Extended Production Test to commence mid-June Velseis to commence seismic acquisition in Western Beetaloo in late June to delineate future drilling locations within the >20 TCF Western Beetaloo prospective resource area.

“Following the end of the wet season, activity across the Beetaloo Basin has ramped up significantly as we continue progressing towards pilot production from our Carpentaria Pilot Project. Transportation of the Carpentaria Gas Plant and commencement of construction activities marks another important milestone for the Company as we continue building out the infrastructure required to support pilot production operations. In parallel, preparations for the extended production test of Carpentaria-5H are nearing completion, with flow testing expected to commence in the coming weeks. At the same time, we are pleased to be advancing exploration activity in the Western Beetaloo, where upcoming seismic acquisition is expected to further define the scale and quality of the resource opportunity across this highly prospective area. With multiple operational and exploration activities now underway, Beetaloo Energy is continuing to build momentum across the basin as we execute our strategy to unlock the world-class potential of the Beetaloo.”  Alex Underwood, Managing Director.

CARPENTARIA GAS PLANT

Beetaloo Energy is pleased to report that, following a long and intense wet season, the camp at the Carpentaria Pilot Project reopened in May and work on the Carpentaria Gas Plant has ramped up.

The camp currently accommodates approximately 40 personnel working on gas plant construction. At the time of writing the first compressor has been lifted into place and connecting pipe work is progressing. Construction of the gas gathering pipelines to link the gas plant to the three pilot wells is underway. We look forward to updating shareholders as we progress.

CARPENTARIA 5H (C-5H)

Beetaloo Energy expects to recommence the extended production test of C-5H in mid-June subject to final clean up. During clean-up flow testing operations in late 2025, C-5H achieved a peak gas flow rate of 11.2 TJ/day and a 30-day average of 7.1 TJ/day with a day-30 exit rate of 6.3 TJ/day. Installation of expanded water-handling infrastructure to manage water production is complete. 

WESTERN BEETALOO

A 2D seismic survey is planned to commence in June across the Gas Discovery Area between Tarlee S3 and Birdum Creek-1. The same reservoir units as Carpentaria will be targeted, but with significantly thicker B Shale development. Velseis Integrated Seismic Technologies Pty Limited will acquire ~230 km of seismic lines under existing environmental approvals designed to optimise future horizontal well orientation. Land access agreements have now been executed with pastoralists. Clearing for access will commence in mid-June by local company Wildman River Stock Contractors. The program is designed to delineate a >20 TCF resource and build a multi-decade LNG scale drilling inventory strategically located near pipeline, road and rail infrastructure.

This ASX release has been authorised by the Managing Director, Alex Underwood.

Source: ASX news release