Companies / BTL

BEETALOO ENERGY AUSTRALIA LIMITED

ASX:BTLEnergy
1.51B shares on issueAppendix 2A · as of 11 Sept 20261.71B fully diluted+13.6% if every option and right converts$0.28price · delayed$414.5Mmarket cap · indicative

Today’s holders own 88.1% of what they think they own, once every option and right converts.

Moderate
Dilution riskprovisional — limited history

Runway 2–4 quarters; share count grew 22% in 24 months; 2 cash raises in 24 months; since relisting as BTL; prior history under EEG not included

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway3.9 quarters of funding
Share-count growth (24m)22.1%since relisting as BTL; prior history under EEG not included
Raise cadence (24m)2 cash raisessince relisting as BTL; prior history under EEG not included
Options & rights overhang13.6% of shares
In-the-money supply9.7% of shares
Pending proposed issuesnone

BEETALOO ENERGY AUSTRALIA LIMITED's ordinary share count grew 22.1% between August 2025 and September 2026, to 1.51B shares. The company raised capital twice in this period for total disclosed proceeds of A$106.7M, with its most recent raise being a A$71.7M placement in April 2026. Options and rights on issue could convert into 205M new shares, equal to 13.6% of the current share count, of which 10% are in the money at the current share price; the nearest expiry falls in August 2027. At the June 2026 quarter the company reported A$52.5M in available cash, about 3.9 quarters of funding at its recent spending rate. No proposed securities issues are currently pending. All figures cover the period since the company began trading as BEETALOO ENERGY AUSTRALIA LIMITED in June 2025.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
Get told when this changes
Set up alerts
Daily email alerts cover risk-level moves, new raises, pending proposed issues and option expiries for the companies you follow.
13.6%
Options & rights overhang
9.7%
In-the-money supply
1
Raises · last 12 months
3.9 qtrs
Cash cover · 2–4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Shown since relisting as BTL (16 June 2025); prior history under EEG is not included. Latest count 1.51B per Appendix 2A (filed 11 Sept 2026).
1.3B1.4B1.5BJune 25Jan 26Sept 26Cash raise · 10 Apr 2026Cash raise · 7 Aug 20251.51B

Cash runway

3.9 qtrs
Two to four quarters of funding at the recent spend rate.
Funds operations to about June 2027 at the reported spend rate.
$52.3M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $63.3M cash at quarter end (item 4.6). Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
Free account
5 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
11 Sept 20262A · quoted issueBTL : ORDINARY FULLY PAID1.51BAppendix 2A
16 Aug 20263G · unquotedBTL : ORDINARY FULLY PAID1.51BAppendix 3G
31 July 20262A · quoted issueBTL : ORDINARY FULLY PAID1.51BAppendix 2A
17 July 20262A · quoted issueBTL : ORDINARY FULLY PAID1.51BAppendix 2A
5 July 20262A · quoted issueBTL : ORDINARY FULLY PAID1.51BAppendix 2A
Free account
57 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

Capital raises

2 cash raises in the last 24 months · 1 in the last 12 months · counted since relisting as BTL (16 June 2025); prior history under EEG is not included

every 8.1 monthsaverage gap between raises
5.1 monthssince the most recent
7 Aug 2025 – 10 Apr 2026first to most recent in this window
$71.7M
Placement
10 Apr 2026 COMPLETE
Free account
4 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

Forward supply

Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.

96.5M of option supply could convert within 12 months — 6.4% of shares on issue
96.5M in the money, expiring in the window
Out-of-the-money options are excluded — at today’s price they expire rather than convert. So is condition-triggered supply, which has no expiry and no price, and convertibles that convert on their own terms rather than on a date.
Free account
6 dated events on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

No estimate — the filings already exceed 15% of the share count we can measure, which means securities were added to the base during the year that we cannot see.
Free account
Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

13.6%
Options & rights overhang · of current shares
9.7%
In-the-money supply · at current price
204.5M
Potential new shares
Aug 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered173.6M · 11.5% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered30.9M · 2.0% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 173.6M priced (of which 146.5M in the money), 30.9M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.

Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.

What a price move would switch on
102.3M204.5M$0.28 now0.25× today ($0.07) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.14) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.21) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.28) — 146.5M of the priced supply in the money, 9.7% of shares on issue1.25× today ($0.34) — 148.6M of the priced supply in the money, 9.9% of shares on issue1.5× today ($0.41) — 173.6M of the priced supply in the money, 11.5% of shares on issue2× today ($0.55) — 173.6M of the priced supply in the money, 11.5% of shares on issue3× today ($0.83) — 173.6M of the priced supply in the money, 11.5% of shares on issue5× today ($1.38) — 173.6M of the priced supply in the money, 11.5% of shares on issue10× today ($2.75) — 173.6M of the priced supply in the money, 11.5% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.28 today, 146.5M securities are in the money (9.7% of shares on issue). No more priced supply until 1.25× today’s price, which takes it to 148.6M (9.9% of shares).

  • Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
  • 30.9M (15.1% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
CodeSecurityTypeExercise priceExpiryOn issueSource
BTLABOptionsPrice-triggered$0.2426 Aug 202792.8MFiling
BTLACOptionsPrice-triggered$0.242 Sept 20273.7MFiling
BTLAGOptionsPrice-triggered$0.3317 June 20292.1MFiling
BTLADOptionsPrice-triggered$0.2431 Dec 202925.0MFiling
BTLAEOptionsPrice-triggered$0.2731 Dec 202925.0MFiling
BTLAFOptionsPrice-triggered$0.3531 Dec 202925.0MFiling
BTLAORightsCondition-triggered——2.0MFiling Meeting
BTLAJRightsCondition-triggered——3.6MFiling Meeting
BTLAAPerformance rightsCondition-triggered——4.0MFiling Meeting
BTLANRightsCondition-triggered——7.4MFiling Meeting
BTLAIPerformance rightsCondition-triggered——13.9MFiling Meeting

“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column.

A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.

Free account
11 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
13 Aug 2026ALEXANDER UNDERWOODBuy on-market200k83——3Y notice
12 Aug 2026KAREN GREENOther1.8M396k275k—3Y notice
9 June 2026ALEXANDER UNDERWOODOther incentive2.2M———3Y notice
Free account
21 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

Ownership

Free account
Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
Free account: 2 full company unlocks every month, no card.
Create free account

Latest announcements

11 Sept 2026Application for quotation of securities - BTL
10 Sept 202630 June 2026 Half Year Financial Report
8 Sept 2026Change in substantial holding from MQG
1 Sept 2026$PSEAAOC Conference 2026 Presentation
23 Aug 2026BTL signs Midstream Infrastructure MOU with AGIG
16 Aug 2026Change of Director's Interest Notice - Green
16 Aug 2026Change of Director's Interest Notice - Cleary
16 Aug 2026Change of Director's Interest Notice - Underwood
16 Aug 2026Notification regarding unquoted securities - BTL
31 July 2026Application for quotation of securities - BTL
30 July 2026BTL Signs Digital Development MOU with Halliburton
27 July 2026$PAppendix 5B Quarterly Cash Flow Report - 30 June
27 July 2026$PQuarterly Activities Report - 30 June
21 July 2026Beetaloo Energy launches Beetaloo Digital
17 July 2026Application for quotation of securities - BTL
12 July 2026$PCarpentaria-5H IP30 flow test results
5 July 2026Application for quotation of securities - BTL
30 June 2026$PBeetaloo Operations Update
19 June 2026Application for quotation of securities - BTL
18 June 2026Notification regarding unquoted securities - BTL

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.