BEACH ENERGY'S Q2 ACTIVITIES REPORT EXPANDED DRILLING PROGRAM, SEVERAL WELLS TO BE DRILLED

Executive Summary

• Beach Energy’s Q2 FY26 report shows Western Flank production of 390 kboe, a 5% increase versus the prior quarter.
• The oil appraisal and development campaign has been expanded from 10 to 12 wells, with additional drilling planned for Q3 FY26 and a subsequent 10‑well exploration program slated for late FY26 into FY27.
• Realized average oil price fell 7% to AUD $105/bbl, while realized gas price rose 2% to AUD $11.9/GJ.

Key Details

• Production – Western Flank: 390 kboe total (275 kbbl oil ↑11%, 115 kboe gas & liquids ↓8%).
• Flood Impact: Flood waters largely receded; remaining flood‑impacted wells to be returned to service throughout Q3 FY26.
• Realized Prices: Oil AUD $105/bbl (‑7% QoQ); Gas AUD $11.9/GJ (+2% QoQ); Overall average price AUD $75/boe (‑5% QoQ).
• Drilling Campaign Expansion: Original 10‑well oil appraisal/development program increased to 12 wells.
• First Three Wells (Callawonga 24‑26): Drilled as deviated infill development wells; results in line with expectations. Callawonga 25 intersected 2.7 m of net oil pay in the secondary Namur reservoir. All three cased and completed, with connections targeted for Q3 FY26.
• Q3 FY26 Planned Drilling:
• Seven oil wells in Bauer, Kalladeina, Spitfire, Stunsail, and Kangaroo fields.
• One exploration well targeting the Stunsail West prospect.
• One contingent oil well pending outcomes at Kalladeina.
• Future Exploration Program: A 10‑well oil exploration campaign to commence late FY26 and continue into FY27.
• Financial Position (Newport): 105,579,874 common shares issued; approximately $3.0 M in treasury (cash, cash equivalents, short‑term investments); no debt.

Notable Quotes

“After a difficult operating period, we are very pleased that Beach have commenced the appraisal and development drilling campaign,” – Ian Rozier, President and CEO, Newport Exploration Ltd.