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Blue Energy has advanced environmental approvals and development planning for its Sapphire gas project in Queensland during Q4 2025. The company is conducting environmental data acquisition under the Environmental Authority for PL 1034 and planning a new appraisal well at Sapphire.

Six pilot wells are producing gas, with plans for a new gas appraisal well. Blue Energy holds a non-binding MOU to supply gas to Queensland Pacific Minerals Energy's Townsville nickel refinery and is working on a pipeline connection from Sapphire to Moranbah.

The company awaits decisions from the Queensland government on Potential Commercial Area applications over ATP 854, covering contingent gas resources of 398 petajoules. Approval would expedite development and gas supply to market.

The Queensland Energy Roadmap anticipates growth in gas-fired generation capacity by 2035. Blue Energy's Greater McArthur Basin work program is suspended, with tenure extensions until mid-February 2026. The company reported $4.97 million in cash and no debt.