Announcement • Jul 03
Botala Energy Limited Announces Appointment of Rory Burn to Chief Financial Officer, Effective July 1, 2026 Botala Energy Limited appointed Mr. Rory Burn as Chief Financial Officer, effective July 1, 2026. Mr. Burn brings more than 20 years of finance and commercial experience with a track record of financing energy and resources projects and managing capital and risk allocation across a variety of operating jurisdictions. He has held senior Treasury and Commercial roles at Woodside Energy, managing key funding, mergers and acquisitions, project development and risk management initiatives across major LNG, oil and decarbonisation projects in Australia, the United States and West Africa. He also brought prior global institutional banking experience across the energy and resources sectors. This combination of project finance, treasury, capital management and commercial experience positions Mr. Burn to support Botala through the negotiation and structuring of gas sales arrangements and the expansion of joint venture and partnership structures as the Serowe CBM Project advances. Mr. Burn holds a Bachelor of Commerce from the University of Western Australia and a Master of Accounting from Curtin University. Mr. Craig Basson will continue in his existing roles as Director and Company Secretary. Mr. Burn's appointment expands Botala's finance leadership capacity as the Company's financial and commercial requirements increase. Announcement • Jun 18
Botala Energy Ltd Completes Pre-Stimulation Activities and Prepares Pitse Pilot Well 3.5B for Stimulation and Flow Testing Botala Energy Ltd. completed all planned pre-stimulation activities at the Pitse Pilot central production well 3.5B. The 5½" steel production casing has been cemented and successfully pressure tested. With integrity confirmed, the casing was perforated across the Serowe Seam which has a total thickness of 13m, including an 11m continuous coal column with no internal breaks, ideal for stimulation. The multi-stage stimulation program will commence with a step-rate test, a routine oil and gas procedure used to determine the stimulation point and permeability of the Serowe seam. A 90-day extended flow test is planned to follow stimulation to provide important data on gas flow rates, reservoir response and the potential commercial performance of the Pitse Pilot. Dewatering continues across the surrounding support well network, with gas already observed at two support wells. The production casing was run to total depth and cemented. A Cement Bond Log was subsequently completed across the cased wellbore. The results confirmed a good bond between casing, cement and formation across the Serowe seam. The cement bond provides the zonal isolation required to contain the stimulation treatment within the perforated intervals. It is intended to maximise the amount of stimulation energy directed into the target coal and its natural cleated network. Pressure testing of the casing was then completed, confirming the mechanical integrity of the well ahead of stimulation operations. With integrity confirmed, the team perforated four stimulation intervals across the Serowe Seam using the jetting methodology proven at Pitse Pilot well 3.3 in February 2026, where perforation and jetting delivered the strongest reservoir response recorded at the pilot. A wireline log confirmed the Serowe seam has a total thickness of 13m, including an 11m continuous clean coal column with no internal breaks, mudstone partings or weaker intercalations from top to base. Gamma ray and density logs confirm a high-vitrinite, low-ash coal, a type that carries materially higher gas content in Karoo-Kalahari CBM systems. Caliper data shows the borehole washed out beyond drilled diameter through the coal zones, confirming natural fracturing and a well-developed cleat network. The Serowe seam logs at 12–14m across all logged wells — only 2m of variation across the cluster footprint — with the Upper Morupule Seam at 10–11m. A datum-hung correlation across the six wells shows both seams stratigraphically continuous across the fault boundary. This lateral predictability is a fundamental requirement for the planned multi-well field development. The combined 23m of Serowe and Upper Morupule coal represents a materially larger resource in this wellbore than the pre-drill prognosis. However, the program remains focused on the Serowe seam as the primary, near-term production target. The Upper Morupule represents potential upside available later in the well’s life, as production from the Serowe seam matures. Diagnostic testing and step-rate test. Initial injection testing will provide the first direct reservoir pressure data from the well. The step-rate test is expected to be materially larger than at any previous Pitse well, reflecting the completion design and depth of well 3.5B. Main stimulation. A multi-stage stimulation program informed by the reservoir response data from Pitse Pilot well 3.3 in February 2026. 90-day extended flow test. The extended production period will generate the dataset required for an independent Competent Persons Report to support reclassification of contingent resources to 2P reserves. The stimulation rig moves directly to Serowe-3.2, which is already drilled and cased. The Serowe CBM Project in central Botswana is designed to develop a domestic source of natural gas to support power generation, industrial energy demand and LNG supply for Southern Africa. Project Pitse is the first of four development phases, targeting a cluster of six wells designed to demonstrate commercial CBM production and underpin the Bankable Feasibility Study for a Serowe-to-Leupane gas development, initially targeting LNG production of 3.5 petajoules (PJ) per year from approximately 108 wells. All environmental approvals are in place across the Serowe gasfield, LNG production facilities, energy hubs, and pipeline corridor. Well title is Serowe-3.5B and is an appraisal well targeting Coal Bed Methane. Serowe-3.5B is located at Latitude -22.24839 and Longitude 26.19624 in Mining Licence ML-52 (previously Prospecting Licence PL-400). Botala Energy Ltd. working interest is 100% in the well. Coal seam thickness is 23m in total consisting of 13m of Serowe Seam and 10m of Upper Morupule Seam. The Geological rock type is coal. The Serowe seam was encountered at a depth of 377m and the Upper Morupule seam was encountered at a depth of 397m. No flow testing to date – Just pressure testing of casing and cement. Gas is the target hydrocarbon and will be measured once well is completed. Water volumes will be tested in subsequent flow-testing. Announcement • May 30
Botala Energy Ltd Principal Commercial Production Well Pitse Pilot Well 3.5B Reaches Total Depth And Intersects Coal Seams As Planned Botala Energy Ltd. principal commercial production well, Pitse Pilot well 3.5B, at its 100%-owned Serowe Coal Bed Methane (CBM) Project in Botswana reached Total Depth (TD) of 449m on 26 May 2026. TD was called by the on-site geologist on confirmation that the target coal seam interval had been fully intersected. The Exploration Geophysics wireline logging team arrived on site the same day, with open-hole logging commencing overnight. Rock chip samples confirm the Serowe coal seams were intersected at approximately 377m depth and demonstrate that the coal intervals are indicative of initial estimates and correlate with offset Pitse wells 3.1 and 3.5A, confirming the well is in the expected structural position. Formal characterisation of the coal seam intervals will follow wireline logging, with results expected to be reported to the market early next week. Completion readiness is well advanced with stimulation chemicals on site, the cementing system function-tested, 5½" production casing staged, and water storage infrastructure in place for the stimulation program. Zero recordable safety incidents. Well 3.5B was spudded on 28 March 2026 and reached total depth of 449m on 26 May 2026. The drilling phase included three casing and cementation stages, continuous geological sampling, coordination with production activities across four support wells, and the mobilisation of key completion materials to site. Learnings from Pitse Pilot well 3.5B are expected to support more efficient drilling and completion cycles as Botala advances subsequent wells within the Serowe development program. The Phase-1 Pitse Pilot at Botala’s Serowe CBM Project in Botswana is designed to establish a production pathway to 3.5 petajoules of LNG per year. Step Detail Status Drill to Total Depth 449m TD reached 26 May 2026 — depth called by geologist on coal seam intersection Complete Open-hole wireline logging Exploration Geophysics team on site 26 May; logging commences 27 May Underway Run 5½" production casing Casing staged at Thabala; stimulation chemicals on site; cement system function-tested Mobilised Cement Bond Log (CBL) Confirms cement placement before perforation Upcoming Perforation of coal seams Serowe seam interval Upcoming DSIT & step rate test Reservoir injectivity; stimulation design parameters Upcoming Main stimulation program Multi-stage strata stimulation Upcoming Extended flow testing 90-day production period; CPR dataset for reserves reclassification Upcoming Rock chip samples collected continuously during drilling provide a complete stratigraphic record from surface to total depth. The sequence encountered is consistent throughout with the regional geological model for the Serowe area, and every expected formation appeared at the predicted depth. The character of chip returns changed at approximately 317m, where carbonaceous material was noted in the diverter pond foam — the first direct indicator of organic-rich material from the Morupule Formation. By 357m, chip returns included vitrinite stringers and minor coal chips, confirming the well was entering the coal seam interval. The geologist confirmed the main Serowe coal seam intersection at approximately 377m depth, with a thickness in line with estimates which will be confirmed in the logging. Preliminary information indicates the presence of the Serowe and Upper Morupule as predicted pre-drill. The current logging program will confirm thickness. Structural correlation with Pitse Pilot wells 3.1 and 3.5A confirms the well is on the planned 3-1 /3-2 fault block, approximately 15m deeper than well 3.5A, exactly consistent with the 20m fault displacement incorporated into the well design. The geological model has been validated by the drill. The open-hole wireline logging program starting on 27 May will formally quantify what the chip samples have qualitatively identified. The key log outputs — gamma ray (seam boundary definition), resistivity (gas saturation proxy), density/porosity (coal quality), and caliper (borehole geometry for perforation design) — will define the net coal thickness, depth and quality of the Serowe and Upper Morupule seam intervals with the precision required for perforation and stimulation planning. These results, expected early next week, are the first data from this well suitable for formal reserves assessment by an independent Competent Persons assessor. The Serowe CBM Project in central Botswana is designed to develop a domestic source of natural gas to support power generation, industrial energy demand and LNG supply for Southern Africa. Project Pitse is the first of four development phases, targeting a cluster of six wells designed to demonstrate commercial CBM production and underpin the Bankable Feasibility Study for a Serowe-to-Leupane gas development targeting LNG production of 3.5 petajoules (PJ) per year from 108 wells. All environmental approvals are in place across the Serowe gasfield, LNG production facilities, energy hubs, and pipeline corridor. Well title is Serowe-3.5B and is an appraisal well targeting Coal Bed Methane. Serowe-3.5B is located at Latitude -22.24839 and Longitude 26.19624 in Mining Licence ML-52 (previously Prospecting Licence PL-400). Botala Energy Ltd. working interest is 100% in the well. Coal seam thickness is estimated at 10m and is currently being logged. The Geological rock type is coal. The Serowe seam was encountered at a depth of 377m and the Upper Morupule seam was encountered at a depth of 397m. Gas is the target hydrocarbon and will be measured once well is completed. Water volumes will be tested in subsequent flow-testing. Board Change • May 20
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director Peter Grant was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 21
Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.45 million. Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.45 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 29,000,000
Price\Range: AUD 0.05
Transaction Features: Subsequent Direct Listing Announcement • Apr 17
Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 3 million. Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 35,807,000
Price\Range: AUD 0.05
Discount Per Security: AUD 0.003
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 24,193,009
Price\Range: AUD 0.05
Discount Per Security: AUD 0.003
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing 
