Top End Energy's Acquisition and Capital Raising Announcement

Top End Energy Limited (ASX: $TEE) has announced the acquisition of granted acreage in the Northern Territory (NT) and a successful capital raising of $2.1 million. The company has executed a binding term sheet to acquire Exploration Permits (EP) 144, 153, and 154 from wholly owned subsidiaries of Hancock Prospecting Pty Ltd. The acquired acreage is highly prospective for natural Hydrogen and Helium, as well as conventional and unconventional hydrocarbons.

Executive Commentary on Acquisition and Capital Raising

This transaction represents an enormous opportunity for us to add highly prospective and complementary granted acreage to the TEE portfolio and accelerate execution of our exploration strategy. The location and play types are well-known to our team and fully aligned with our existing technical focus. In short, this purchase delivers us an attractively priced option on multiple high impact play types including both the extension of the proven natural gas play in the Beetaloo Basin and the underexplored McArthur Basin natural Hydrogen and Helium potential. This acquisition is fully consistent with our strategy of leveraging TEE's foothold and relationships in the NT to enhance the company's portfolio and advance our corporate objectives. We look forward to providing an update on our plans for these permits following transaction completion.

Summary of Top End Energy's Acquisition and Capital Raising

Top End Energy (ASX: $TEE) has acquired granted acreage in the Northern Territory, which is highly prospective for natural Hydrogen and Helium, as well as conventional and unconventional hydrocarbons. The company has also successfully raised $2.1 million in an oversubscribed placement to fund the forward work program and corporate working capital. The acquisition aligns with the company's strategy of leveraging its foothold and relationships in the NT to enhance its portfolio and advance corporate objectives. Top End Energy aims to refine the work program for the acquired permits during the completion phase of the transaction and provide a further update to the market on detailed next steps. The company's ambitions include maturing the identified natural Hydrogen and Helium potential and the liquids-rich hydrocarbon potential of the Beetaloo Basin unconventional play. The transaction provides the opportunity to re-deploy activities intended for EP 258 to the acquired permits, and the company looks forward to the completion of the acquisition and the subsequent steps in its exploration strategy.