18 August 2025Commenced Spudding Of Final Well TE-B01003 for...

18 August 2025

Commenced Spudding Of Final Well TE-B01003 for Early Gas Sales

NuEnergy Gas Limited (“NuEnergy” or “the Company”) (ASX: NGY) is pleased to announce the commencement of drilling operations for the TE-B01003 well at its Tanjung Enim Production Sharing Contract (“PSC”) Plan of Development 1 (“Tanjung Enim POD1”) contract area. The TE-B01003 well is the final of four planned CBM wells under NuEnergy’s Early Gas Sales Initiative, which targets initial gas sales of1 million standard cubic feet per day (“mmscfd”).

TheTE-B01003 well will be drilled vertically to a planned total depth of approximately 473 metres, targeting multiple coal seams located between 295 and 420 metres. The well will be completed using an “open hole” method - a proven technique optimised for gas recovery in CBM formations. The TE B01003 well is strategically located in close proximity to TE-B06003 well to enhance reservoir connectivity and maximise productivity.

The first three wells, TE B06001, TE B06002 and TE B06003, that has completed drilling, are progressing well with the dewatering process. The water levels are decreasing at a controlled speed and gas pressure are building steadily as expected.

NuEnergy looks forward to providing further updates as drilling of TE B01003 well progresses.