Beetaloo Energy Secures $15M, Ramps Up Carpentaria Project

0:00It's April 2nd. You're listening to Sydney News today, AI-powered local news. Beetle-Lew Energy just pocketed a $15.4 million cash refund from the federal government's research and development tax incentive. This boost hits perfect as they gear up for first gas at their fully-owned Carpentry of Piley Project in the Northern Territory. The funds cover costs from horizontal drilling, fracking, and shale testing done this year. It plans to repay part of a $65 million Australian loan from Macquarie Bank while pouring the rest into building the gas plant. And infrastructure. Unmigrivals tangled in joint ventures. Beetle-Lew controls over 28 million acres outright, giving them full say on rollout. Their Carpentary of 5H, well, the Basin's longest at 2,900 meters, peaked at 11.2 terajules of gas flow per day. Several words wrapped early in January, and the refurbished Roma gas plants it's ready for trucking this month, finished under budget.

1:00A wet season slowed piling, but it's restarting soon, with diesel stockpile to dodge supply snags. Three wells stand prepped for tie-in, approvals locked, aiming for third quarter 2026 commissioning and instant gas sales into the local. Market positioning, Beetle-Lew, to cash in on this heating of shale hotspot.