ASX: BTL - Beetaloo Energy Resources
- Matt Birney
- 13 hours ago
- 4 min read
Beetaloo Energy Australia: It’s on! Millions in gas to flow for first time from biblical scale onshore Australian basin
Beetaloo Energy Australia Managing Director Alex Underwood on 3AW, 2GB, 4BC & 6PR Bulls N' Bears Report
Listen to ASX-listed Beetaloo Energy Australia Managing Director Alex Underwood talk to Matt Birney on the Bulls N’ Bears Report about Beetaloo’s wall of approvals that just dropped enabling it to sell gas from an onshore basin that may be harbouring 200 years worth of Australian gas supplies.
TO LISTEN TO THE BEETALOO ENERGY AUSTRALIA AUDIO INTERVIEW - CLICK BELOW
Beetaloo Energy controls one of Australia’s largest onshore gas positions, spanning about 28.9 million acres of the highly prospective but virginal Beetaloo Gas Basin in the Northern Territory that some believe will easily rival the gas endowment of WA’s revered North West Shelf in time. After a decade of chipping away at the wall of approvals needed, Beetaloo just got the last green light and has made a final investment decision to start producing and selling gas.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears, brought to you today by onshore oil and gas developer, Beetaloo Energy
Matt Birney - ASX code: BTL
Matt Birney - I'm Matt Birney, and I'm joined now by the Managing Director of Beetaloo Energy, Alex Underwood.
Matt Birney - Hi, Alex.
Alex Underwood - G'day, Matt.
Matt Birney - Okay, so Beetaloo Energy controls one of Australia’s largest onshore gas positions, spanning about 28.9 million acres of the highly prospective but virginal Beetaloo Gas Basin in the Northern Territory that some believe will easily rival the gas endowment of WA’s revered North West Shelf in time. After a decade of chipping away at the wall of approvals needed, Beetaloo just got the last green light and has made a final investment decision to start producing and selling gas.
Matt Birney - All right, Alex, just very quickly, give me a roll call of the approvals you managed to lock down in the last few weeks.
Alex Underwood - We've received all the approvals we require from the traditional owners. We have all of our environmental approvals in place, and the Northern Territory government has approved the sale of test gas.
Matt Birney - All right, so it sounds pretty easy when you put it like that, but I think it's taken about a decade. Now, those final those final approvals have unlocked a wheelbarrow of funding from Macquarie Bank. How much funding will Macquarie put in, and what will you use it for?
Alex Underwood - They've provided a $30 million facility and that will allow us to install the Carpentaria gas plant so we can start selling gas.
Matt Birney - All right. Well, let's talk about scale. How much gas have you got on your ground up there? And can you put that in some kind of scale or some kind of perspective for me?
Alex Underwood - So, we have 47 trillion cubic feet of gas recoverable. And to put that into perspective, the basin contains enough energy to power Australia for 200 years.
Matt Birney - Okay, that is some perspective. Now, I understand Beetaloo already has a gas sales agreement in place with the Northern Territory government, your first customer. Can you run me through the the basic metrics of that deal?
Alex Underwood - So, it's a 10-year agreement with the Northern Territory government to provide 25 terajoules a day into the local NT market.
Matt Birney - And I'm guessing the pricing is commercial in confidence. But yeah, tell me, say on the east coast of Australia, what does a terajoule of gas sell for?
Alex Underwood - Typically on the east coast, that would be worth around $10,000 to $12,000.
Matt Birney - Right. Now tell me this. How much money do you need to spend before you start selling gas? And when is that likely to be?
Alex Underwood - So it's really that $30 million that we've now got secured and we expect to start selling gas in the second half of next year.
Matt Birney - And will there be a ramp up? I guess you're selling to the Northern Territory government, but in time, can you ramp up beyond that?
Alex Underwood - Yes, absolutely. There's going to be huge potential to supply Australia's east coast and potentially even exports into Asia.
Matt Birney - Alex Underwood from Beetaloo Energy.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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