ANNOUNCEMENTS

Key Highlights The legal matter before the Land Court of Queensland (Land Court) relating to Blue Energy’s Sapphire asset was resolved. The Land Court of Queensland in its decision on the matter has granted an amended Environmental Authority (EA) to Eureka Petroleum Pty Ltd (100% subsidiary of Blue Energy) in respect to production activities over…

KEY HIGHLIGHTS During the quarter the Sapphire 5 and 6 lateral pilot wells continued on production testing but with interruptions in production caused by surface facility maintenance issues (generators). Both Pilots are again running and continue to produce gas at a rate which is building as the dewatering process recommences. The Research and Development tax…

KEY HIGHLIGHTS During the quarter the Sapphire 5 and 6 lateral pilot wells continued on production testing with the aggregate gas flow rate for the Sapphire pilot showing an increasing trend to 0.150 TJ/day. The Board has resolved to continue the production testing of the Sapphire Pilot and for the time being has deferred the…