Beetaloo Energy

Beetaloo Energy Austraia (ASX: BTL)  - formerly Empire Energy Group Limited - is an Australian oil and gas exploration and development company focused on unlocking the vast potential of the Beetaloo Basin, one of the world’s most prospective shale gas plays. As a pioneer in the region, Beetaloo holds approximately 3 million net acres of prime shale acreage and is advancing its Carpentaria Pilot Project towards production.

The company owns and operates 100% of its Beetaloo assets, giving it full control over development timelines and operational strategies. With independently assessed contingent and prospective resources exceeding 47 trillion cubic feet equivalent (TCFe), Beetaloo is positioned to become a key supplier of natural gas to Australian domestic markets and international LNG buyers. Its low-carbon, high-calorific gas composition, combined with access to existing pipeline infrastructure, supports a cost-effective and environmentally responsible pathway to commercialization.

Beetaloo Energy Australia is backed by a strong financial position, with a committed financing package from Macquarie Bank and a binding 10-year gas sales agreement with the Northern Territory Government. Supported by government incentives, strategic partnerships, and a capable leadership team, Beetaloo is well-positioned to capitalize on the growing demand for cleaner energy solutions while delivering sustainable value to shareholders.

‍

Beetaloo Energy Austalia offers a compelling investment opportunity in Australia’s rapidly expanding natural gas sector. The company’s flagship Carpentaria Project in the Beetaloo Basin is one of the most advanced shale gas developments in the region, with independently verified 2C contingent resources of 1.65 TCFe and a vast prospective resource base exceeding 46 TCFe. With first production expected in 2025, Beetaloo is poised to generate near-term cash flow while scaling up to meet growing domestic and LNG export market demands.

Australia faces a looming gas supply shortage, with domestic prices significantly higher than those in the U.S. Beetaloo’s strategic location near existing pipeline infrastructure enables it to rapidly commercialize its resources at competitive costs. The company has secured a long-term gas sales agreement with the Northern Territory Government for up to 25 terajoules per day (TJ/d), ensuring a stable revenue stream as production ramps up.

Beyond its initial development, Beetaloo’s stacked shale play offers long-term scalability, similar to the success seen in U.S. shale basins. The company’s 100%-owned assets, high net revenue interest (~85%), and low CO₂ gas profile further strengthen its competitive edge. As global LNG demand surges, particularly in Asian markets, Beetaloo’s position as a low-cost producer with premium-quality gas enhances its long-term growth potential.

‍

Beetaloo Energy Australia is led by an experienced management team with deep expertise in oil and gas exploration, project development, and corporate finance. The team is focused on unlocking the full potential of the Beetaloo Basin while maintaining a disciplined approach to financial management and operational execution.

Alex Underwood – Managing Director

Alex Underwood has over 20 years of experience in the energy and resources sector, with a strong background in corporate finance and capital markets. Prior to joining Empire, he held senior roles at Macquarie Bank and Commonwealth Bank of Australia, specializing in financing and investing in upstream oil and gas projects. His leadership has been instrumental in securing key funding arrangements and advancing the Carpentaria Pilot Project towards production.

Peter Cleary – Chairman

Peter Cleary brings nearly three decades of experience in the LNG and pipeline gas sectors, having held executive positions at Santos, BP, and the North West Shelf Venturers. His expertise in global energy markets and strategic partnerships strengthens Empire’s positioning as it expands into commercial gas production.

The collective expertise of Empire’s leadership team ensures a strong foundation for executing its growth strategy while delivering long-term value to shareholders.

‍

Beetaloo Energy Australia is executing a structured growth strategy aimed at transitioning from exploration to large-scale gas production while maintaining a focus on financial discipline, operational efficiency, and environmental responsibility.

The company’s immediate priority is the development of the Carpentaria Pilot Project, which is targeting first gas sales in 2025. This project, supported by a binding 10-year gas sales agreement with the Northern Territory Government, will provide a stable revenue base and demonstrate the commercial potential of the Beetaloo Basin’s shale gas resources.

Beetaloo is advancing through staged resource development, leveraging its existing 1.65 TCFe of 2C contingent resources and a vast 46+ TCFe prospective resource base. The company plans to drill additional high-impact wells to further delineate its resource potential and optimize well performance through advanced drilling and completion techniques.

To support long-term scalability, Beetaloo is strategically positioned to expand production capacity by tapping into the stacked shale formations across its acreage. This approach mirrors the development model of prolific U.S. shale plays, allowing for efficient multi-well drilling from centralized pads. The company has already acquired a 42 TJ/d gas processing plant to support future production growth.

On the infrastructure front, Beetaloo is working closely with government and industry partners to enhance gas transportation networks and streamline regulatory approvals. The company benefits from proximity to existing pipeline infrastructure, reducing the capital intensity of full-field development.

Beetaloo is also committed to environmental sustainability, ensuring that its operations adhere to best practices for emissions reduction. With its low CO₂ gas composition (<1%), the company is positioned as a cleaner energy supplier in a market increasingly focused on reducing carbon footprints.

‍

Beetaloo Energy Australia maintains a strong financial position, enabling it to advance its flagship Beetaloo Basin gas assets toward production. As of December 2024, the company has a market capitalization of approximately A$213.6 million, supported by a net cash balance of A$21.3 million and access to a fully committed A$65 million financing package from Macquarie Bank. This funding secures the development of the Carpentaria Pilot Project and future expansion initiatives.

The company has structured its capital strategy to ensure financial flexibility while minimizing shareholder dilution. Key financial elements include:

• Debt Facilities – A A$30 million R&D Facility and a A$30 million Midstream Infrastructure Facility, providing capital for well stimulation, field infrastructure, and gas processing plant installation.
• Low Development Costs – Beetaloo has efficiently allocated A$90 million in exploration and appraisal investments, yielding a significant 1.65 TCFe of 2C contingent resources and positioning the company for cost-effective production scaling.

Beetaloo's financial strategy prioritizes disciplined capital allocation and infrastructure optimization, ensuring that it remains well-funded to execute its near-term development plans while retaining flexibility for future growth opportunities in the Beetaloo Basin.

‍

Beetaloo Energy Australia is on the cusp of transforming into a major Australian gas producer, leveraging its extensive acreage in the Beetaloo Basin—one of the world’s most prospective shale gas regions. With first gas production targeted for 2025, a binding 10-year gas sales agreement, and a fully funded development plan, the company is well-positioned to capitalize on the growing demand for cleaner energy in both domestic and global LNG markets.

Beetaloo’s stacked shale play provides a long-term resource base with low CO₂, high-calorific gas, making it an attractive and cost-effective supplier in an energy market facing supply shortages. The company’s strong financial position, strategic infrastructure investments, and technical expertise enable a scalable and efficient development pathway.

Backed by a seasoned management team, proven exploration success, and government support, Beetaloo is focused on delivering sustainable growth and long-term shareholder value. As the company advances through key milestones—from pilot production to full-field development—it stands as a compelling investment opportunity in the evolving energy landscape.

For investors seeking exposure to a low-cost, high-potential natural gas developer with a clear pathway to production and revenue generation, Beetaloo Energy presents a strategic and well-positioned opportunity in the Australian energy sector.

‍