BEETALOO ENERGY AUSTRALIA LIMITED (BTL)
Share Price Analysis and Chart

03/08/2026

1

Buy

$0.77

234.78%

Beetaloo Energy Australia's June Q outlined progress across multiple important fronts. Delivering the plant and pilot gas sales is the most immediate hurdle and is right on the doorstep, Morgans notes, while unlocking larger-scale development of its broader Beetaloo acreage remains the ultimate prize.

Morgans views the capital raising as a smart move supporting the business through late development, although Federal government intervention in the gas industry has pushed a larger discount on Beetaloo than the broker would have expected.

Target falls to 77c from 90c, Speculative Buy retained.

FORECAST
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.09 cents.
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -0.04 cents.

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04/08/2026

-1

No Rating

234.78%

Beetaloo Energy Australia has secured exclusivity over 185ha, about 25km south-east of Darwin's centre for a gas generation project in support of "hyper-scale" data centres, with supply potential of up to 200TJ/d.

Research as a Service (RaaS) notes the project is conceptual at this stage, with 12 months to define a plan, although the MOU with Halliburton adds an important name to the concept.

The analysts point out commercial production from the Beetaloo Basin was conceptual just as recently as 2-3 years ago and first gas is a transforming event and commercial game changer.

Valuation is adjusted at the margin to reflect cash in hand, now at $0.86-$1.24/share with a midpoint of $0.95, compared with $0.87-$1.22/share with a midpoint of $0.94.

Research as a Service (RaaS) research does not carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.