HIGHLIGHTS

• Federal Government Gas Reservation Scheme Legislation introduced to Parliament.
• Up to 20% of gas exported as LNG by LNG exporters will be required to be supplied to the domestic gas market
• Australian Energy Regulator (AER) will administer and implement the scheme and will attach a levy on the industry to cover its administrative costs
• All of Blue’s gas is free from domestic reservation legislation (Federal and State) and is likely to be considered “additional gas” under the scheme and therefore able to be made contractually available to any LNG exporter for their domestic gas supply obligations
• Blue seeking potential Farm-in partners for ATP 854, located in close proximity to major gas transportation infrastructure and the Wallumbilla gas hub near Roma
• Blue working with Administrators/Receivers to QPME on the Moranbah Gas Project asset sale process
• Blue has 91 PJ of 2P Gas Reserves+ and 1,617 PJ of 2C Gas Resources+ (2P+2C = 1,708 PJ)
• Blue has at end of Qtr $3.2 million of cash (unaudited) and zero debt.
• Blue is actively assessing several cost reduction measures

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