Beetaloo Energy Australia (ASX: BTL) has received a $15.4 million cash refund, including interest, under the Australian Government’s Research and Development Tax Incentive.
The funding adds to the company’s balance sheet as it advances the Carpentaria pilot project towards pilot gas production and sales into the Northern Territory market in 2026.
The company said eligible research and development activities for the year ended 31 December 2024 related primarily to horizontal drilling and hydraulic stimulation processes, along with new testing and analytical processes for ancient shales and technical work supporting the Carpentaria project.
Beetaloo plans to use the refund to repay part of Facility A with Macquarie Bank, progress gas plant construction and associated infrastructure, advance the pilot project toward first gas production and sales, and provide additional working capital flexibility as operations ramp up.
Gas Plant Moves Towards Commissioning
All civil works for the Carpentaria gas plant were completed in January with no recordable safety or environmental incidents.
Drilling and piling of structural supports paused after wet season conditions in the Top End and are scheduled to resume in coming weeks.
All crew were demobilised safely in anticipation of the heavy rainfall, during which time access to site has been limited to light vehicles.
Work will resume when heavy vehicle access is considered safe.
Program Completed Under Budget
Beetaloo said it has completed all planned refurbishment and modifications in Roma under budget, with the plant ready for transport to site from April once the heavy vehicle access is restored.
The company expects commissioning activities in the third quarter of 2026, immediately followed by gas sales, with three wells ready to be tied into pilot production and flow testing at C-5H set to restart this quarter.
“The receipt of the R&D tax refund of $15.4 million materially strengthens Beetaloo Energy’s balance sheet at a pivotal stage in the company’s development,” managing director Alex Underwood said.
“Pilot production from the Beetaloo into the NT local market is imminent and, following Inpex’s entry into the basin, drilling activity is expected to continue increasing, providing enhanced energy security for Australia.”
