Top End Energy Limited (ASX:$TEE) Update

Top End Energy Limited (ASX:TEE) has provided an update on its activities progressing its 100%-owned ATP 1069 in Queensland. The G&G work on recently acquired 2D seismic data has been completed, highlighting significant volumetric potential. Seismic interpretation has confirmed the presence of the large Coolibah closure with a lowest closing contour area of ~542km2. A total of 22 mapped leads have been identified across the Coolibah Complex, with several considered comparable to the nearby Gilmore Gas Field. The Company plans to initiate a farm-down process in Q1 2024 ahead of a final drilling decision.

Executive Commentary on ATP 1069 Progress

The high-quality G&G work completed to date is another step forward for unlocking commercial gas volumes in the Adavale basin. Confirmation of the presence of the large Coolibah structure along with several stacked targets provides the company and its shareholders with an exciting exploration opportunity and should allow the company to secure a partner for drilling.

Summary of ATP 1069 Progress and Outlook

Top End Energy Limited (ASX:TEE) has made significant progress with the completion of G&G work on its 100%-owned ATP 1069 in Queensland. The identification of 22 mapped leads, including the confirmation of the large Coolibah closure, presents a promising opportunity for the Company. The farm-down process to be initiated in Q1 2024 aims to secure a joint venture partner ahead of a final drilling decision. Additionally, the Company is engaging with the Queensland Department of Resources regarding the possibility of upgrading license tenure with an associated extension to the license expiry date. The completion of the G&G studies marks a positive step towards unlocking commercial gas volumes in the Adavale basin, aligning with the Company's ambition to be a leading Australian diversified energy provider at the forefront of the energy transition.