Beetaloo Energy has raised AU$66.3 million as it moves towards commercial gas production, issuing 236,835,714 new shares at 28 cents per share.
The newly raised funds, combined with a AU$45 million facility, place the company in a fully funded position to reach its goal of first pilot gas sales in the fourth quarter of 2026.
Beetaloo plans to use its newly raised capital to complete the Carpentaria gas plant and ongoing construction works, continuation of flow testing at the Carpentaria-5H site and seismic acquisition in the Western Beetaloo region.
The company will also use the funds for general administration, Northern Territory operations, and the partial repayment of an existing R&D credit facility.
Beetaloo Managing Director Alex Underwood described the placement as a pivotal moment for the company.
“The participation by existing and new investors reflects genuine conviction in the potential scale of our Beetaloo Basin acreage and projects in the Northern Territory,” he said.
“With this raising, combined with the upsized $45 million Midstream Infrastructure Facility (undrawn), we are now fully funded through to first pilot gas sales expected in Q4 2026, a milestone that we believe will be transformational for Beetaloo Energy and for Australia’s domestic gas supply.”
In addition to the institutional placement, Beetaloo Energy has launched a non-underwritten share purchase plan (SPP) aimed at raising up to AU$5 million.
This initiative provides eligible shareholders the opportunity to acquire new shares at the same 28-cent price point as institutional investors, subject to shareholder approval.
Beetaloo holds 28.9 million acres of highly prospective exploration tenements in the McArthur Basin and Beetaloo Sub-basins, Northern Territory. The company said the Beetaloo Basin has world-class hydrocarbon volumes in place and a ramp-up in industry activity in the area by major Australian oil and gas operators is ongoing.