Earnings release
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Beach Energy Limited | Quarterly report for the period ended 30 September 2025 Beach Energy Limited Page 1 of 13 ASX Announcement FY26 First Quarter Activities Report Reference #066/25 Date 20 October 2025 Safe and reliable operations supported an 8% production increase quarter-on-quarter to 5.0 MMboe • Otway Basin production up 12% supported by high customer nominations • Cooper Basin JV production up 10% reflecting flood recovery efforts and new wells brought online • Flat production maintained year-on-year after adjusting for Cooper Basin flood impacts Sales volumes up 15% to 6.8 MMboe and sales revenue up 18% to $537 million • Two Waitsia LNG cargoes lifted, delivering $121 million revenue • Cooper Basin JV gas re-contracting supported an 8% increase in the average realised gas price to $11.7/GJ Waitsia Gas Plant first sales gas expected imminently • Commissioning of critical systems and equipment mostly complete • Approaching Ready For Start Up milestone with final start-up processes and procedures underway • No technical issues outstanding which would materially impact the timeline to first sales gas export Equinox and Cooper Basin rig campaigns progressing • Successful plug and abandonment of the Geographe 1 and Thylacine 1 wells in the offshore Otway Basin • Hercules 1 gas exploration well plugged and abandoned after quarter-end • Western Flank 10-well appraisal and development campaign proposed to commence in late-Q2 FY26 • Cooper Basin JV oil discovery at Kwaremont 1 Cooper Basin flood recovery tracking in line with expectations • Approximately one quarter of flood-impacted wells brought back online • Flood recovery activities to continue in Q2 FY26 2025 Annual General Meeting to be held on 12 November 2025 (Webcast link: 2025 AGM) Key Metrics Sep. Q1 FY25 Jun. Q4 FY25 Sep. Q1 FY26 Qtr on Qtr Change Production (MMboe) 5.2 4.6 5.0 8% Sales Volumes (MMboe) 5.5 5.9 6.8 15% Sales Revenue ($ million) 427 455 537 18% Realised Oil Price ($/bbl) 127 111 113 2% Realised Sales Gas Price ($/GJ) 10.3 10.9 11.7 8% For further information, please contact the following on +61 8 8338 2833 Investor Relations Derek Piper, General Manager Investor Relations & Treasury Media Ken McGregor, Manager Media & Government Relations For personal use only
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Beach Energy Limited | Quarterly report for the period ended 30 September 2025 Beach Energy Limited Page 2 of 13 Comments from Managing Director and Chief Executive Officer, Mr Brett Woods “Beach has reported a strong start to FY26 with increased production, two Waitsia LNG cargoes lifted during the quarter and the Waitsia Gas Plant nearing the important Ready For Start Up milestone. “Higher demand for our gas over the winter period combined with initial reinstatement of some flood-affected wells in the Cooper Basin saw production increase 8% quarter -on-quarter to 5.0 MMboe . An additional LNG cargo this quarter helped revenue increase 18% to $537 million , supporting o ur strong financial position. At quarter-end, Beach had over $500 million of available liquidity after return ing a record $137 million to shareholders in dividends. “We made solid progress with our major projects this quarter. In the Perth Basin, commissioning of critical systems and equipment within the Waitsia Gas Plant has been largely completed . The Ready For Start Up milestone, which includes introduction of gas from the Waitsia field, is imminent and the Waitsia JV is now working through final start-up processes and procedures. “In the Otway Basin, the Equinox rig campaign saw two offshore wells safely plugged and abandoned and the Hercules gas exploration well drilled . Hercules was a moderate to high -risk target and failed to intersect hydrocarbons. The second phase of Beach’s Equinox rig campaign is expected to commence in H2 FY26. “As the Federal Government progresses its National Gas Market Review, Beach continues to supply 100% of its East Coast gas production to the domestic market, including selling directly to manufacturers. Having supplied 19% of total East Coast gas demand last financial year, Beach is playing a critical role within Australia’s energy landscape“, Mr Woods said. Financial Sales volumes Total sales volumes of 6,798 kboe were 15% above the prior quarter due to one additional Waitsia LNG cargo lifted and higher gas production, partly offset by lower oil production and timing of Cooper Basin LPG liftings. Sales Volumes Sep. Q1 FY25 Jun. Q4 FY25 Sep. Q1 FY26 Qtr on Qtr Change Oil (kbbl) 825 792 751 (5%) Sales Gas (PJ) 21.9 20.6 22.1 7% LPG (kt) 59.5 55.8 43.4 (22%) LNG (kt) - 77.4 155.4 100% Condensate (kbbl) 447 377 431 14% Total Sales Volumes (kboe) 5,516 5,896 6,798 15% Total Own Product (kboe) 5,046 4,092 4,472 9% Total Third Party (kboe) 470 1,804 2,326 29% Note: Figures and ratios throughout this report may not reconcile to totals due to rounding; nm = not meaningful Sales revenue Sales revenue of $537 million was 18% above the prior quarter due to higher gas sales volumes and realised prices and one additional Waitsia LNG cargo lifted. The average realised sales price across all products of $79 per boe was 2% above the prior quarter. The average realised oil price increased by 2% to $113 per barrel and the average realised gas price increased 8% to $11.7 per GJ. Production from the Xyris Gas Plant and third-party gas sourced via swap arrangement s enabled processing and lifting of two Waitsia LNG cargoes during the quarter. The cargoes were sold to BP at an average realised price of $15.1 per MMBtu for revenue of $121 million. Approximately 20% of gas required for the LNG cargoes was sourced from Xyris Gas Plant production . Approximately 30% was sourced through swap arrangements and ~50% from third party purchases . Volumes associated with the swap arrangements and third party For personal use only
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Beach Energy Limited | Quarterly report for the period ended 30 September 2025 Beach Energy Limited Page 3 of 13 purchases will be returned to counterparties through future Waitsia production, with third party volumes to be sold back to the counterparties. Sales Revenue ($ million) Sep. Q1 FY25 Jun. Q4 FY25 Sep. Q1 FY26 Qtr on Qtr Change Oil 105 88 85 (4%) Sales Gas 226 224 259 15% LPG 49 49 34 (30%) LNG - 62 121 97% Condensate 46 33 38 14% Sales Gas and Gas Liquids 321 368 452 23% Total Sales Revenue 427 455 537 18% Total Own Product 382 369 394 7% Total Third Party 45 87 143 65% Average Realised Prices Sep. Q1 FY25 Jun. Q4 FY25 Sep. Q1 FY26 Qtr on Qtr Change All Products ($/boe) 77 77 79 2% Oil ($/bbl) 127 111 113 2% Sales Gas ($/GJ) 10.3 10.9 11.7 8% LPG ($/tonne) 828 872 787 (10%) LNG ($/MMBtu) - 15.4 15.1 (2%) Condensate ($/bbl) 103 88 87 (1%) Capital expenditure Capital expenditure incurred of $166 million was in-line with the prior quarter, with reducing Waitsia Stage 2 spend offset by increasing Equinox rig campaign spend. In addition, $60 million of abandonment expenditure was incurred relating to Equinox rig campaign activities. Capital Expenditure ($ million) Sep. Q1 FY25 Jun. Q4 FY25 Sep. Q1 FY26 Qtr on Qtr Change Exploration and Appraisal 18 15 42 186% Development, Plant and Equipment 164 153 124 (19%) Total Capital Expenditure 182 168 166 (1%) Liquidity As at 30 September 2025, Beach had total liquidity of $586 million (Q4 FY25: $ 652 million) comprising cash reserves of $196 million and undrawn committed facilities of $390 million. During the quarter, Beach refinanced the $220 million Facility D and $100 million Facility E syndicated loan facilities. Maturing in September 2025, these facilities were combined and upsized to a new $370 million facility with an August 2028 maturity. Beach also completed an extension of the $350 million Facility B syndicated loan facility maturing in September 2026. The facility was extended by approximately three years and now matures in August 2029. For personal use only
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Beach Energy Limited | Quarterly report for the period ended 30 September 2025 Beach Energy Limited Page 4 of 13 Competitive pricing was achieved for the refinance and extension with continuing strong support from Beach’s lending syndicate. Beach’s next debt maturity is the $350 million Facility F syndicated loan facility maturing in June 2027. Liquidity ($ million) Sep. Q1 FY25 Jun. Q4 FY25 Sep. Q1 FY26 Qtr on Qtr Change Cash Reserves 190 172 196 14% Drawn Debt (745) (540) (680) 26% Net Cash / (Debt) (555) (368) (484) 32% Undrawn Facilities 275 480 390 (19%) Total Liquidity 465 652 586 (10%) Hedging As at 30 September 2025, Beach had no hedging in place. Corporate Board changes On 25 August 2025, Beach announced that Dr Peter Moore intends to retire at the conclusion of Beach’s 2025 Annual General Meeting, to be held on 12 November 2025 , after eight years of service . In anticipation of Dr Moore’s retirement, the Board appointed Mr Shaun Gregory as an independent non -executive director, effective 1 September 2025. Mr Gregory is a geoscientist with over 30 years of experience in the oil , gas and energy industry. He began his career at BHP Petroleum before joining Woodside Energy in 1995, where he held a range of senior technical and e xecutive roles. Most recently, Mr Gregory was Executive Vice President New Energy, responsible for strategy and execution of Woodside’s new energy business. Taroom Trough Area of Mutual Interest (AMI) agreement Beach executed an AMI agreement with Omega Oil and Gas Limited (45% and operator) and Tri -Star Group (30%) in relation to ~3,750 km2 of prospective oil and gas acreage within Queensland’s Taroom Trough. The Taroom Trough is a new and potentially large gas and liquids resource play located near existing infrastructure servicing the East Coast gas market. The AMI agreement sets out parameters under which Beach, Omega and Tri -Star will work together on any new exploration acreage acquired within the agreed area. No new acreage has yet been acquired under the AMI. For personal use only
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Beach Energy Limited | Quarterly report for the period ended 30 September 2025 Beach Energy Limited Page 5 of 13 Production Production of 5.0 MMboe was 8% above the prior quarter due to higher production in the Otway, Perth and Bass basins and flood recovery efforts in the Cooper Basin, partially offset by natural field decline in the Western Flank. Production (net to Beach) Sep. Q1 FY25 Jun. Q4 FY25 Sep. Q1 FY26 Qtr on Qtr Change Total Production Sales Gas PJ 22.4 20.5 22.6 11% LPG kt 41 40 42 5% Condensate kbbl 372 338 354 4% Oil kbbl 685 470 421 (10%) Total kboe 5,233 4,638 4,990 8% Cooper Basin JV Sales Gas PJ 7.0 5.6 6.2 12% LPG kt 13 11 10 (3%) Condensate kbbl 98 76 88 16% Oil kbbl 194 168 174 3% Total kboe 1,605 1,291 1,417 10% Western Flank Sales Gas PJ 0.7 0.5 0.5 0% LPG kt 3 3 2 (14%) Condensate kbbl 25 33 16 (51%) Oil kbbl 491 301 247 (18%) Total kboe 668 445 371 (16%) Perth Basin Sales Gas PJ 2.4 2.2 2.5 11% Total kboe 416 385 427 11% Otway Basin Sales Gas PJ 8.8 8.6 9.7 13% LPG kt 14 14 16 9% Condensate kbbl 155 138 151 9% Total kboe 1,784 1,728 1,938 12% Bass Basin Sales Gas PJ 1.4 1.7 2.0 13% LPG kt 2 4 6 46% Condensate kbbl 52 55 63 16% Total kboe 308 383 445 16% Taranaki Basin Sales Gas PJ 2.0 1.8 1.7 (4%) LPG kt 9 8 8 (4%) Condensate kbbl 43 37 35 (5%) Total kboe 453 407 392 (4%) For personal use only
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Beach Energy Limited | Quarterly report for the period ended 30 September 2025 Beach Energy Limited Page 6 of 13 Perth Basin Production Quarterly gas production of 427 kboe was 11% above the prior quarter, mainly due to high plant uptime following planned maintenance activities in Q4 FY25 . The Beharra Springs Gas Plant and the Xyris Gas Plant operated at average rates of 25 TJ/day (gross) and 29 TJ/day (gross), respectively. Waitsia Stage 2 The final stages of commissioning the 250 TJ/day Waitsia Gas Plant were mostly completed during the quarter. Commissioning of critical systems and equipment within the Waitsia Gas Plant included the first sales gas compressor, power generation, the amine processing unit and the hot water system. Within the field, commissioning of initial well stock and gathering systems was completed. Final preparations for introduction of gas from the Waitsia field are currently underway. Introduction of gas will mark achievement of the Ready For Start Up (RFSU) milestone in readiness for transition to production operations. First sales gas from the Waitsia Gas Plant is expected within two weeks after the RFSU milestone. Once online, production rates from the Waitsia Gas Plant are expected to ramp up towards nameplate capacity 1. In the field, the pig launcher and receivers, used to ensure the long-term integrity of the gathering system and pipeline network, were identified as having quality issues several months ago. As this equipment is not required for commissioning and start -up of the Waitsia Gas Plant, the Waitsia JV decided that replacement after the commissioning process to be the optimal solution. This is routine operational activity which will have no impact on timing of first gas or the ramp-up schedule. 1 As announced on 4 August 2025, Beach’s FY26 production guidance assumes average daily Waitsia Gas Plant production of 90% of nameplate capacity following a four-month ramp-up period For personal use only
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Beach Energy Limited | Quarterly report for the period ended 30 September 2025 Beach Energy Limited Page 7 of 13 Otway Basin Production Total gas and gas liquids production of 1.9 MMboe was 12% above the prior quarter due to higher customer nominations and high plant uptime. The Otway Gas Plant produced at an average rate of 174 TJ/day (gross) for the quarter (Q4 FY25: 157 TJ/day gross). A planned 10-day shutdown of the Otway Gas Plant was completed in early-October to conduct routine maintenance activities. Exploration, appraisal and development Following a weather-related delay, the Equinox rig campaign in offshore Victoria commenced during the quarter. Plug and abandonment of the Geographe 1 and Thylacine 1 wells in the Otway Basin was successfully completed. Strong rig performance saw the operational component of the abandonments completed to schedule and the activities were undertaken safely with no environmental incidents. The Hercules 1 exploration well spudded in mid -September 2025 with rig release after quarter-end. Hercules 1 presented as a moderate to high -risk gas exploration prospect targeting the Waarre reservoir. The well reached total depth of 2,350 metres however no significant hydrocarbons were encountered. The well was subsequently plugged and abandoned. The Equinox rig has been mobilised to the Bass Basin for plug and abandonment of the White Ibis 1 well. This will complete the first phase of Beach’s Equinox rig campaign with the rig to then pass to a consortium member. The second phase of Beach’s activity will commence in H2 FY26 and is expected to include drilling and completing the La Bella 2 development well, completing the Artisan discovery, a well intervention at Thylacine and abandoning the Trefoil 1 and Yolla 1 wells in the Bass Basin. For personal use only
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Beach Energy Limited | Quarterly report for the period ended 30 September 2025 Beach Energy Limited Page 8 of 13 Cooper Basin Western Flank Production Total oil and gas production of 371 kboe was 16% below the prior quarter due to natural field decline, partially offset by reinstatement of some flood-affected wells. Oil production of 247 kbbl was 18% below the prior quarter and gas and gas liquids production of 124 kboe was 13% below the prior quarter. Flooding across the region continues to impact production from the Callawonga , Growler, Martlet and Snatcher fields. Flood waters are slowly receding and Beach is progressively restoring production at affected wells. Flood impacts are expected to continue through Q2 FY26. Exploration, appraisal and development The 10-well oil appraisal and development campaign is proposed to commence in late-Q2 FY26, subject to flood waters subsid ing and access roads reopening. The next phase of oil exploration drilling, which may follow the appraisal and development campaign, is also under consideration. Cooper Basin JV Production Total oil and gas production of 1.4 MMboe was 10% above the prior quarter as flood recovery efforts restored production from approximately one quarter of the affected wells. Gas and gas liquids production of 1.2 MMboe was 11% above the prior quarter and oil production of 174 kbbl was 3% above the prior quarter. Flood waters are slowly receding and moving across the western part of the basin. Beach continues to work with operator Santos to safely restore production as efficiently as possible while minimising environmental impact. Exploration, appraisal and development Beach participated in 26 wells, including two wells drilling ahead at quarter-end. An overall success rate of 96% was achieved from one oil exploration well , two oil development wells, one gas exploration well, one gas appraisal well and 19 gas development wells. Gas development activity continued in the Moomba South development area with six wells cased and suspended in the quarter. Successful gas development drilling was also undertaken in the Brolga, Jack Lake and Quartpot fields and a gas discovery was made at Daku 1. The Kwaremont 1 exploration well discovered gas in the Toolachee reservoir and oil in the Namur reservoir , with ~5 metres of net oil pay intersected . The well was cased and suspended as a future oil producer . Two vertical oil development wells were successfully drilled in the Isoptera field. For personal use only
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Beach Energy Limited | Quarterly report for the period ended 30 September 2025 Beach Energy Limited Page 9 of 13 Moomba CCS Approximately 321 ktCO2e (gross) were injected during the quarter (Q4 FY25: 3 28 ktCO2e), representing 94% of available CO2e from the Moomba Gas Plant. An unplanned three-day shutdown occurred in September due to a partial outage at the Moomba Gas Plant . Moomba CCS safely and permanently injected over 1.3 MtCO2e (gross) in its first year of operation. A planned 20 -day shutdown of Moomba CCS will occur in October 2025 to conduct various inspection and maintenance activities. For personal use only
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Beach Energy Limited | Quarterly report for the period ended 30 September 2025 Beach Energy Limited Page 10 of 13 Bass Basin Production Total gas and gas liquids production of 445 kboe was 16% above the prior quarter due to higher plant uptime and ongoing success from wellbore intervention activities. The Lang Lang Gas Plant produced at an average daily rate of 22 TJ/day (Q4 FY25: 19 TJ/day). Taranaki Basin Production Total gas and gas liquids production of 392 kboe was 4% below the prior quarter. The Kupe Gas Plant produced at an average daily rate of 37 TJ/day (gross) (Q4 FY25: 39 TJ/day gross). For personal use only
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Beach Energy Limited | Quarterly report for the period ended 30 September 2025 Beach Energy Limited Page 11 of 13 Drilling Summary Basin Category Wells Spudded Wells Completed Successful Wells Success Rate Cooper Oil – Exploration 1 1 1 100% Oil – Development 2 2 2 100% Gas – Exploration 2 1 1 100% Gas – Appraisal 1 1 - 0% Gas – Development 15 19 19 100% Otway Gas – Exploration 1 1 - 0% Total Wells 22 25 23 92% All Exploration Wells 4 3 2 67% All Appraisal Wells 1 1 - 0% All Development Wells 17 21 21 100% Note: Drilling success is defined as wells cased and suspended or completed as a future producer. Well Basin / Area Target Type Beach % Well Status Kwaremont 1 Cooper / SA Oil Exp 33.33% C&S Isoptera 11 Cooper / SA Oil Dev 33.40% C&S Ispotera 12 Cooper / SA Oil Dev 33.40% C&S Daku 1 Cooper / SA Gas Exp 33.40% C&S Kita 1 Cooper / SA Gas Exp 33.33% Drilling ahead Gidgealpa 77 Cooper / SA Gas App 33.40% P&A Brolga 11 ^ Cooper / SA Gas Dev 33.40% C&S Jack Lake 9 Cooper / SA Gas Dev 33.40% C&S Jack Lake 10 Cooper / SA Gas Dev 33.40% C&S Moomba 358 ^ Cooper / SA Gas Dev 33.40% C&S Moomba 359 Cooper / SA Gas Dev 33.40% C&S Moomba 366 ^ Cooper / SA Gas Dev 33.40% C&S Moomba 367 Cooper / SA Gas Dev 33.40% C&S Moomba 369 ^ Cooper / SA Gas Dev 33.40% C&S Moomba 370 Cooper / SA Gas Dev 33.40% C&S Moomba 400 Cooper / SA Gas Dev 33.40% C&S Moomba 401 Cooper / SA Gas Dev 33.40% C&S Moomba 403 ^ Cooper / SA Gas Dev 33.40% C&S Moomba 406 Cooper / SA Gas Dev 33.40% C&S Moomba 407 Cooper / SA Gas Dev 33.40% C&S For personal use only
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Beach Energy Limited | Quarterly report for the period ended 30 September 2025 Beach Energy Limited Page 12 of 13 Well Basin / Area Target Type Beach % Well Status Moomba 408 Cooper / SA Gas Dev 33.40% C&S Moomba 409 Cooper / SA Gas Dev 33.40% C&S Moomba 410 Cooper / SA Gas Dev 33.40% C&S Moomba 411 Cooper / SA Gas Dev 33.40% C&S Moomba 412 Cooper / SA Gas Dev 33.40% Drilling ahead Quartpot 3 Cooper / SA Gas Dev 33.40% C&S Hercules 1 Otway / VIC Gas Exp 60.00%* P&A1 ^Spudded in a prior quarter * Beach operated well 1. Plugged and suspended post quarter-end Authorisation, disclaimer and other information Authorisation This announcement has been authorised for release by the Beach Board of Directors. Disclaimer This ASX announcement contains forward looking statements that are subject to risk factors associated with oil, gas and related businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and c hanges in underlying assumptions which could cause actual results or trends to differ materially, including, but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimates, loss of market, i ndustry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delays or advancements, approvals and cost estimates. All references to dollars, cents or $ in this announcement are to Australian currency, unless otherwise stated. References to “Beach” may be references to Beach Energy Limited or its subsidiaries. Certain planned activities are subject to joint venture approvals. References to planned activities in FY26 and beyond are subject to finalisation of work programs, Government approvals, joint venture approvals and Board approvals. Assumptions Future development, appraisal and exploration projects are subject to approvals such as Government approvals, joint venture approvals and Board approvals. Beach expresses no view as to whether all required approvals will be obtained in accordance with current project schedules. Conversion factors used to evaluate oil equivalent quantities are oil: 1 boe per bbl, condensate: 0.935 boe per bbl, sales gas: 171,940 boe per PJ, LPG: 8.458 boe per tonne, and LNG: 9.531 boe per tonne. Reserves are stated net of fuel, flare and vent at reference points defined by the custody transfer point of each product. For personal use only
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Beach Energy Limited Page 13 of 13 Glossary $ Australian dollars Amplitude Energy Amplitude Energy Limited and its subsidiaries BassGas The BassGas Project (Beach 100%), produces gas from the offshore Yolla gas field in the Bass Basin in production licence T/L1. Beach also holds a 100% operated interest in licenses T/RL2 (pending production licence application), T/RL4 and T/RL5 bbl Barrels Beach Beach Energy Limited and its subsidiaries Beharra Springs Beharra Springs (Beach 50% and operator, MEPAU 50%) produces gas from the onshore Beharra Springs gas field in the Perth Basin in production licences L11 and L22 boe Barrels of oil equivalent – the volume of hydrocarbons expressed in terms of the volume of oil which would contain an equivalent volume of energy BP BP Singapore Pte. Limited, a subsidiary of BP plc C&S Cased and suspended CCS Carbon capture and storage Cooper Basin Includes both Cooper and Eromanga basins Cooper Basin JV The Santos operated SACB JVs and SWQ JVs and ATP 299 (Tintaburra - Beach 40%, Santos 60% and operator) EBITDA Earnings Before Interest, Tax, Depreciation and Amortisation Echelon Echelon Resources Limited and its subsidiaries Ex PEL 91 PRLs 151 to 172 and various production licences. Beach 100% and operator Ex PEL 92 PRLs 85 to 104 and various production licences. Beach 75% and operator, Amplitude Energy 25% Ex PEL 104 / 111 PRLs 136 to 150 and various production licences. Beach 100% and operator Ex PEL 106 PRLs 129 and 130 and various production licences. Beach 100% and operator FY(26) Financial year (2026) GSA Gas sales agreement GJ Gigajoule H(1) (FY26) (First) half year period of (FY26) H(1) (CY2026) (First) half of calendar year 2026 JV Joint Venture JKM LNG Japan/Korea Marker kbbl Thousand barrels of oil kboe Thousand barrels of oil equivalent kbopd Thousand barrels of oil per day Kt Thousand metric tonnes ktCO2e Thousand metric tonnes of carbon dioxide equivalent Kupe Kupe Gas Project (Beach 50% and operator, Genesis 46%, Echelon 4%) produces gas from the offshore Kupe gas field in the Taranaki Basin in licence PML 38146 LNG Liquefied natural gas LPG Liquefied petroleum gas MEPAU Mitsui E&P Australia Mitsui Mitsui & Co., Limited and its subsidiaries MMbbl Million barrels of oil MMboe Million barrels of oil equivalent MMbtu Million British thermal units MMscfd Million standard cubic feet of gas per day Mt Million metric tonnes O.G. Energy O.G. Energy Holdings Limited., a member of the Ofer Global group of companies Origin Origin Energy Limited and its subsidiaries Other Cooper Basin Other Cooper Basin producing permit areas are ex PEL 513/632 (Beach 40%, Santos 60% and operator) and ex PEL 182 (Vanessa) (Beach 100%) P&A Plugged and abandoned P&S Plugged and suspended PEL Petroleum Exploration Licence Perth Basin Includes Beach’s Waitsia and Beharra Springs assets PRL Petroleum Retention Licence PJ Petajoule Qtr Quarter RL Retention Licence SACB JV South Australian Cooper Basin Joint Ventures, which include the Fixed Factor Area (Beach 33.4%, Santos 66.6% and operator) and the Patchawarra East Block (Beach 27.68%, Santos 72.32% and operator) Santos Santos Limited and its subsidiaries SPA Sale and Purchase Agreement SWQ JV South West Queensland Joint Ventures, incorporating various equity interests (Beach 30-52.5%; Santos operator) TJ Terajoule Victorian Otway Basin Produces gas from licences VIC/L1(v) which contains the Halladale, Black Watch and Speculant nearshore gas fields, VIC/L007745(v), which contains the Enterprise gas field, and licences VIC/L23, T/L2, T/L3 and T/L4 which contain the Geographe and Thylacine offshore gas fields. Beach also holds non-producing offshore licenses ViC/P42(v), VIC/P43, VIC/P73 and VIC/P007192(v) Western Flank Gas Comprises gas production from ex PEL 91 and 106 (Beach 100% and operator) Western Flank Oil Comprises oil production from ex PEL 91 (Beach 100% and operator), ex PEL 92 (Beach 75% and operator, Amplitude Energy 25%) and ex PEL 104/111 (Beach 100% and operator) For personal use only