Top End Energy (ASX:TEE) acquires NT permits for high-potential basins

Top End Energy Limited (ASX:TEE) has completed the acquisition of granted Northern Territory (NT) permits, marking a significant milestone in its pursuit of unlocking high-potential gas, Helium, and Hydrogen prospects. The acquisition includes two proven basins with multiple play potential, enabling the company to progress its exploration activities in the NT region.

Executive Commentary

Natural gas is the way of the future and the Beetaloo Sub-basin holds some of the world's largest reserves of the highly sought after energy source. We are pleased to welcome Top End Energy to the Territory and look forward to continue working with them as they advance in the McArthur Basin. - Honorable Mark Monaghan, NT Minister for Mining, Education, Agribusiness and Fisheries. Being the first EP to be granted in the NT since 2015 is a testament to the dedication of our team and the prospectivity of our acreage position. We appreciate the constructive, collaborative engagement of the NT Government and associated regulatory bodies during the process. The grant of the permit enables us to begin exploration activities on the acreage in earnest, with our planned program of activities set to commence with the previously announced AGG program. - Oliver Oxenbridge, Managing Director of Top End Energy

Summary

Top End Energy's acquisition of granted NT permits has unlocked significant potential in the form of high-potential gas, Helium, and Hydrogen prospects. The company's focus on near-term activities and its diversified portfolio of granted acreage positions it strategically to capitalize on the growing need for gas with bipartisan support from the NT and Federal Governments. With strong policy support for natural gas and a forecasted global LNG market deficit, Top End Energy is well-positioned to contribute to the national energy mix and the Australian economy. The company's well-funded status for near-term activities and its exploration and development focus on multiple complementary energy resources further solidify its position in leading Australia into a low-carbon energy future.