KEY HIGHLIGHTS

• Sapphire Pilot Status: The Sapphire 5 and 6 lateral pilot wells continue to be production tested with the aggregate gas flow rate for the Sapphire pilot showing an increasing trend to 0.140 TJ/day. The lower most coal seams remain below the current water level in the vertical wells and so still require dewatering.
• A Native Title Agreement has been executed with the Traditional Owners of the Sapphire Block (PL (A) 1034) area of ATP 814.
• An independent review of the Sapphire Pilot well drilling program has identified potential formation damage from a component of the drilling fluid used in the Pilot well drilling.
• Blue has independently processed the raw Geoscience Australia (GA) regional 2D seismic data shot over Blue’s EP 200, and 207 in the Wiso Basin area of the Northern Territory (the Greater McArthur Basin).
• Blue has appointed expert witnesses for the Land Court Appeal process lodged by Environmental Advocacy in Central Queensland Inc (EACQ) against the Queensland Department of Environment Science and Innovation.

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30 June 2024 Quarterly Activities and Cash Flow Report