Latest news with #IP30
Associated Press
16-06-2025
- Business
- Associated Press
SS-2H ST1 Delivers Record Beetaloo Basin IP30 Flow Rate of 7.2 MMcf/d, In-Line With Average IP30 Rate From Marcellus Dry Gas Area
NEW YORK--(BUSINESS WIRE)--Jun 16, 2025-- Tamboran Resources Corporation (NYSE: TBN, ASX: TBN): This press release features multimedia. View the full release here: Figure 1: The SS-2H ST1 flow rates achieved a material step-up in IP30 rates as testing increases to longer lateral sections. Source: Company data Tamboran Resources Corporation Chief Executive Officer, Joel Riddle, said: 'The Shenandoah South 2H sidetrack well has delivered a record average IP30 flow result of 7.2 MMcf/d from the Beetaloo Basin to date. Results show a material step up in flow rate from a horizontal section stimulated approximately three times longer than the SS-1H well. 'The IP30 flow rate over a 5,482-foot horizontal section is another positive data point that demonstrates potential commercial productivity of the shale formation in the Australian East Coast gas market that typically sells at a premium to Henry Hub in the US and under long term CPI-linked contracts. 'Importantly, the results from SS-2H ST1 are in-line with the average of more than 11,000 wells produced for over 12-months in the Marcellus Shale dry gas area, the most prolific shale gas basin in the world. 'At the end of the 30-day period, the well continues to experience steady flow performance, low decline rates and favorable wellhead pressures, which underscore the reliability and scalability of our operations. 'Importantly, Tamboran continues to bring key lessons from the US to accelerate the commercial development of the Beetaloo Basin. We have already delivered an impressive improvement in drilling efficiency and stimulation intensity in the first two wells of the Shenandoah South area. 'Lessons from the completion and flow back of the SS-2H ST1 well will be incorporated into the design of the remaining four wells required to deliver first gas sales in mid-2026, subject to standard regulatory and stakeholder approvals. SS-2H ST1 is another foundation well, that demonstrates the Beetaloo Basin has characteristics similar to wells drilled across the Marcellus dry gas area. We believe, like in the US, with more well results and incorporation of lessons we can improve and deliver this world-scale energy resource.' Shenandoah South 2H ST1 flow results The SS-2H ST1 well in Tamboran B2-operated Exploration Permit (EP) 98 achieved average IP30 flow rates of 7.2 MMcf/d following the 35-stage stimulation program across a 5,483 feet (1,671 metres) lateral section in the Mid Velkerri B Shale. During the 30-day production testing period, the choke was opened from 10/64' to 40/64' at staged intervals. Gas rates declined from 10.4 MMcf/d to 6.6 MMcf/d, with an average IP30 flow rate of 7.2 MMcf/d and cumulative production of 217.2 MMcf over that period. Flowing wellhead pressures were drawn down from 4,565 to 906 psi. Table 1: Breakdown of the SS-2H ST1 IP30 flow result Ongoing Shenandoah South development activity Tamboran plans to commence the 2025 Shenandoah South drilling program in July 2025. The program includes drilling three wells, each with a 10,000-foot horizontal section and completed with up to 60 stimulation stages, subject to joint venture approval. The SS-3H well is planned to be completed and flow tested by the end of 2025, with the remaining three wells drilled in the 2025 campaign to be completed during 1H 2026. Completion of the remaining four wells will incorporate lessons from the SS-1H and SS-2H ST1 wells. The wells are expected to be tied into the SPCF ahead of the commencement of production in mid-2026 and supply gas sales to the Northern Territory Government under a take-or-pay GSA, subject to standard regulatory and stakeholder approvals and favorable weather conditions. The five wells are expected to deliver the required 40 MMcf/d volume under the take-or-pay agreement with the Northern Territory Government. The GSA with Tamboran is a significant contract for the Northern Territory given the high reliance on gas for power generation. Falcon Oil & Gas Australia Limited have elected not to participate in the 2025 Shenandoah South drilling program. As a result, the work program will be equally funded by Tamboran and Daly Waters Energy, LP. Webcast details Managing Director and Chief Executive Officer, Joel Riddle will hold a webcast on 8:00am EDT (New York) (10:00pm AEST, Sydney, Melbourne) on Monday June 16, 2025. Details for the webcast can be found on Tamboran's website at Tamboran net prospective acres across the Beetaloo Basin assets Working Interests – Phase 2 Development Area Working Interests – Proposed RL10 Working Interests – Remaining Tamboran owned Ex-EP 76, 98 and 117 acreage This ASX announcement was approved and authorised for release by Joel Riddle, the Chief Executive Officer of Tamboran Resources Corporation. About Tamboran Resources Corporation Tamboran Resources Corporation ('Tamboran' or the 'Company'), through its subsidiaries, is the largest acreage holder and operator with approximately 1.9 million net prospective acres in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. Tamboran's key assets include a 47.5% operating interest over 20,309 acres in the proposed northern Pilot Area, a 38.75% non-operating interest over 20,309 acres in the proposed southern Pilot Area, a 58.13% operating interest in the proposed Phase 2 development area covering 406,693 acres, a 67.83% operated interest over 219,030 acres in a proposed Retention License 10, a 77.5% operating interest across 1,487,418 acres over ex-EPs 76, 98 and 117, a 100% working interest and operatorship in EP 136 and a 25% non-operated working interest in EP 161, which are all located in the Beetaloo Basin. The Company has also secured ~420 acres (170 hectares) of land at the Middle Arm Sustainable Development Precinct in Darwin, the location of Tamboran's proposed NTLNG project. Pre-FEED activities are being undertaken by Bechtel Corporation. Disclaimer Tamboran makes no representation, assurance or guarantee as to the accuracy or likelihood of fulfilment of any forward-looking statement or any outcomes expressed or implied in any forward-looking statement. The forward-looking statements in this report reflect expectations held at the date of this document. Except as required by applicable law or the ASX Listing Rules, Tamboran disclaims any obligation or undertaking to publicly update any forward-looking statements, or discussion of future financial prospects, whether as a result of new information or of future events. The information contained in this announcement does not take into account the investment objectives, financial situation or particular needs of any recipient and is not financial product advice. Before making an investment decision, recipients of this announcement should consider their own needs and situation and, if necessary, seek independent professional advice. To the maximum extent permitted by law, Tamboran and its officers, employees, agents and advisers give no warranty, representation or guarantee as to the accuracy, completeness or reliability of the information contained in this presentation. Further, none of Tamboran nor its officers, employees, agents or advisers accept, to the extent permitted by law, responsibility for any loss, claim, damages, costs or expenses arising out of, or in connection with, the information contained in this announcement. Note on Forward-Looking Statements This press release contains 'forward-looking' statements related to the Company within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act') and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements reflect the Company's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words 'believe,' 'expect,' 'anticipate,' 'will,' 'could,' 'would,' 'should,' 'may,' 'plan,' 'estimate,' 'intend,' 'predict,' 'potential,' 'continue,' 'participate,' 'progress,' 'conduct' and the negatives of these words and other similar expressions generally identify forward-looking statements. It is possible that the Company's future financial performance may differ from expectations due to a variety of factors, including but not limited to: our early stage of development with no material revenue expected until 2026 and our limited operating history; the substantial additional capital required for our business plan, which we may be unable to raise on acceptable terms; our strategy to deliver natural gas to the Australian East Coast and select Asian markets being contingent upon constructing additional pipeline capacity, which may not be secured; the absence of proved reserves and the risk that our drilling may not yield natural gas in commercial quantities or quality; the speculative nature of drilling activities, which involve significant costs and may not result in discoveries or additions to our future production or reserves; the challenges associated with importing U.S. practices and technology to the Northern Territory, which could affect our operations and growth due to limited local experience; the critical need for timely access to appropriate equipment and infrastructure, which may impact our market access and business plan execution; the operational complexities and inherent risks of drilling, completions, workover, and hydraulic fracturing operations that could adversely affect our business; the volatility of natural gas prices and its potential adverse effect on our financial condition and operations; the risks of construction delays, cost overruns, and negative effects on our financial and operational performance associated with midstream projects; the potential fundamental impact on our business if our assessments of the Beetaloo are materially inaccurate; the concentration of all our assets and operations in the Beetaloo, making us susceptible to region-specific risks; the substantial doubt raised by our recurring operational losses, negative cash flows, and cumulative net losses about our ability to continue as a going concern; complex laws and regulations that could affect our operational costs and feasibility or lead to significant liabilities; community opposition that could result in costly delays and impede our ability to obtain necessary government approvals; exploration and development activities in the Beetaloo that may lead to legal disputes, operational disruptions, and reputational damage due to native title and heritage issues; the requirement to produce natural gas on a Scope 1 net zero basis upon commencement of commercial production, with internal goals for operational net zero, which may increase our production costs; the increased attention to ESG matters and environmental conservation measures that could adversely impact our business operations; risks related to our corporate structure; risks related to our common stock and CDIs; and the other risk factors discussed in the this report and the Company's filings with the Securities and Exchange Commission. It is not possible to foresee or identify all such factors. Any forward-looking statements in this document are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations. While the Company continually reviews trends and uncertainties affecting the Company's results of operations and financial condition, the Company does not assume any obligation to update or supplement any particular forward-looking statements contained in this document. Table 2: Disclosures under ASX Listing Rule 5.30 (Shenandoah South 2H ST1) View source version on CONTACT: Investor enquiries: Chris Morbey, Vice President – Investor Relations +61 2 8330 6626 [email protected] enquiries: +61 2 8330 6626 [email protected] KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: ENERGY NATURAL RESOURCES MINING/MINERALS OIL/GAS SOURCE: Tamboran Resources Corporation Copyright Business Wire 2025. PUB: 06/16/2025 05:46 AM/DISC: 06/16/2025 05:46 AM
Yahoo
16-06-2025
- Business
- Yahoo
Falcon Oil & Gas Ltd. - Another Stellar IP30 Flow Test Result in the Beetaloo
Falcon Oil & Gas Ltd ('Falcon'). Another Stellar IP30 Flow Test Result in the Beetaloo 16 June 2025 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that Shenandoah S2-2H ST1 ('SS-2H ST1') achieved an average 30-day initial production ('IP30') flow rate of 7.2 million cubic feet per day ('MMcf/d') over 1,671-metres (5,483-foot) across a 35 stage stimulated length within the Amungee Member B-Shale in the Beetaloo Sub-basin, Northern Territory, Australia, making it the highest IP30 result in the Beetaloo to date. Points to note: The normalized flow rate of 13.2 MMcf/d over an extrapolated 10,000-foot horizontal section is in-line with the average of more than 11,000 wells in the Marcellus Shale dry gas area on production over a 12-month period. The results demonstrate the commercial deliverability of gas from the Amungee Member B-Shale in the Australian East Coast gas market that typically sells at a premium to Henry Hub in the United States and under long term CPI-linked contracts. The exit rate trajectory continues a steady, low-declining curve at 6.7 MMcf/d (normalized at 12.2 MMcf/d per 10,000-feet) with a flowing wellhead pressure of ~910 psi. The steady state decline curve on SS-2H ST1 is consistent with that achieved from the Shenandoah South 1H well ('SS-1H'). For further details on the SS-2H ST1 flow test including a table, and charts please refer to Appendix A. Development activity The Shenandoah South drilling campaign is planned to commence in July 2025, targeting up to three 10,000-foot horizontal wells and completed with up to 60 stimulation stages from the SS2 well pad. As previously announced, Falcon Oil & Gas Australia Limited ('Falcon Australia') has opted to reduce its participating interest in the three wells to 0%. Once completed, the five wells on the SS2 pad are planned to be tied into the Sturt Plateau Compression Facility ('SPCF') to feed into a 40 MMcf/d take-or-pay Gas Sales Agreement ('GSA') with the Northern Territory Government. Production remains on track to commence in mid-2026, subject to standard regulatory and stakeholder approvals and favourable weather conditions. The Shenandoah South 4H ('SS-4H') well is planned to be completed and flow tested by the end of 2025, with the remaining wells drilled in the 2025 campaign to be completed during 1H 2026. Completion of the remaining four wells will incorporate lessons from the SS-1H and SS-2H ST1 wells. The five wells are expected to deliver the required 40 MMcf/d volume under a binding take-or-pay agreement with the Northern Territory Government. Philip O'Quigley, CEO of Falcon commented: 'The IP30 flow rate results announced today of 7.2 MMcf/d, are truly stellar and marks another major data point in the Beetaloo Sub-basin again demonstrating that it compares to the best shale wells in the United States. Not only did the results exceed Falcon's pre-drill commercial threshold of a normalised flow rate of 3 MMcf/d per 1,000 metres but had similar flow rates and pressures to SS-1H and SS-2H ST1, which all point towards the significant resource potential of the Beetaloo. Falcon looks forward to the planned completion and testing of SS-4H by the end of 2025 and also to observing the results from the next three wells of the Shenandoah South drilling program and the additional milestones they will establish. As further results become available, we look forward to updating the market further' Ends. CONTACT DETAILS: Falcon Oil & Gas Ltd. +353 1 676 8702 Philip O'Quigley, CEO +353 87 814 7042 Anne Flynn, CFO +353 1 676 9162 Cavendish Capital Markets Limited (NOMAD & Broker) Neil McDonald / Adam Rae +44 131 220 9771 This announcement has been reviewed by Dr. Gábor Bada, Falcon Oil & Gas Ltd's Technical Advisor. Dr. Bada obtained his geology degree at the Eötvös L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG. About Falcon Oil & Gas Ltd. Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland. Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd. For further information on Falcon Oil & Gas Ltd. Please visit About Beetaloo Joint Venture (EP 76, 98 and 117) Company Interest Falcon Oil & Gas Australia Limited (Falcon Australia) 22.5% Tamboran (B2) Pty Limited ('Tamboran') 77.5% Total 100.0% Shenandoah South Pilot Project -2 Drilling Space Units – 46,080 acres Company Interest Falcon Oil & Gas Australia Limited (Falcon Australia) 5.0% Tamboran (B2) Pty Limited 95.0% Total 100.0%About Tamboran (B2) Pty LimitedTamboran (B1) Pty Limited ('Tamboran B1') is the 100% holder of Tamboran (B2) Pty Limited, with Tamboran B1 being a 50:50 joint venture between Tamboran Resources Corporation and Daly Waters Energy, LP. Tamboran Resources Corporation is a natural gas company listed on the NYSE (TBN) and ASX (TBN). Tamboran is focused on playing a constructive role in the global energy transition towards a lower carbon future, by developing the significant low CO2 gas resource within the Beetaloo Sub-basin through cutting-edge drilling and completion design technology as well as management's experience in successfully commercialising unconventional shale in North America. Bryan Sheffield of Daly Waters Energy, LP is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. ('PE'), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Natural Resources Company. Appendix A - SS-2H ST1 Flow Test Details Note to reader: Please refer to the PDF attachment included at the end of this press release for further details including a table and charts related to the SS-2H ST1 flow test results Advisory regarding forward-looking statementsCertain information in this press release may constitute forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information typically contains statements with words such as 'may', 'will', 'should', 'expect', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'projects', 'dependent', 'consider' 'potential', 'scheduled', 'forecast', 'anticipated', 'outlook', 'budget', 'hope', 'suggest', 'support' 'planned', 'approximately', 'potential' or the negative of those terms or similar words suggesting future outcomes. In particular, forward-looking information in this press release includes, details on the IP30 flow test results of SS-2H ST1 including assumptions that the results are in line with average of more than 11,000 wells in the Marcellus Shale dry gas area on production over a 12-month period and that they demonstrate the commercial deliverability of gas from the Amungee Member B-Shale in the Australian East Coast gas market that typically sells at a premium to Henry Hub in the United States and under long term CPI-linked contracts; consistency of the results of SS-2H ST1 with SS-1H; details on the planned three well drilling campaign including the plan to commence in July 2025 and to continue into 1H 2026; the plan to tie the wells to the SPCF under a GSA with the Northern Territory Government in mid-2026; the plan that SS-4H will be completed and flow tested by the end of 2025; the five wells drilled are expected to deliver the required 40 MMcf/d under a GSA with the Northern Territory Government; This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. The risks, assumptions and other factors that could influence actual results include risks associated with fluctuations in market prices for shale gas; risks related to the exploration, development and production of shale gas reserves; general economic, market and business conditions; substantial capital requirements; uncertainties inherent in estimating quantities of reserves and resources; extent of, and cost of compliance with, government laws and regulations and the effect of changes in such laws and regulations; the need to obtain regulatory approvals before development commences; environmental risks and hazards and the cost of compliance with environmental regulations; aboriginal claims; inherent risks and hazards with operations such as mechanical or pipe failure, cratering and other dangerous conditions; potential cost overruns, drilling wells is speculative, often involving significant costs that may be more than estimated and may not result in any discoveries; variations in foreign exchange rates; competition for capital, equipment, new leases, pipeline capacity and skilled personnel; the failure of the holder of licenses, leases and permits to meet requirements of such; changes in royalty regimes; failure to accurately estimate abandonment and reclamation costs; inaccurate estimates and assumptions by management and/or their joint venture partners; effectiveness of internal controls; the potential lack of available drilling equipment; failure to obtain or keep key personnel; title deficiencies; geo-political risks; and risk of litigation. Readers are cautioned that the foregoing list of important factors is not exhaustive and that these factors and risks are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon's filings with the Canadian securities regulators, which filings are available at including under "Risk Factors" in the Annual Information Form. Any references in this news release to initial production rates are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter and are not necessarily indicative of long-term performance or ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for Falcon. Such rates are based on field estimates and may be based on limited data available at this time. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain. Attachment 061625 Final Falcon Press Release - SS-2H ST1 IP30 v2
Yahoo
13-05-2025
- Business
- Yahoo
Tamboran Finalizes the Checkerboard of Beetaloo Basin Blocks and Announces US$15 Million Acreage Sale to Daly Waters Energy, LP
Highlights Tamboran and Daly Waters Energy, LP (DWE) have signed a binding agreement to finalize the checkerboard of the joint acreage position across EPs 76, 98 and 117. In conjunction with the checkerboard, Tamboran and DWE have entered into a binding agreement whereby DWE will acquire a non-operating and non-controlling interest in 100,000 acres within two areas for a consideration of US$15 million. The transaction is subject to certain conditions precedent and regulatory approvals. On completion, Tamboran will have retained approximately 1.9 million net prospective, development-ready acres across the Beetaloo Basin. Tamboran has reserved 406,693 gross acres as its Phase 2 Development Area, located immediately north of the Pilot Area, where Tamboran plans to focus development on supplying gas into Australia's East Coast domestic gas market. On completion of the sale to DWE, Tamboran is expected to hold 236,370 net acres (58.12% operated interest) over the Phase 2 Development Area, with DWE (19.38%) and Falcon Oil & Gas Australia Limited (Falcon) (22.5%) holding the remaining interest. Tamboran has engaged RBC Capital Markets to commence a formal farm-down of the Phase 2 Development Area. The formal process will commence on release of the IP30 flow test from the Shenandoah South 2H sidetrack (SS-2H ST1) well, planned for June 2025. DWE will have participation rights to any transaction on the same terms. Ownership of the proposed northern Pilot Area, which will provide initial gas production to the Northern Territory, remains unchanged (Tamboran 47.5% operator) with expansion into the proposed southern Pilot Area (Tamboran 38.75%) anticipated in accordance with the terms of the acreage sale. Future working interests are subject to participation of parties in the Joint Venture. Tamboran will hold 77.5% operating interest in the remaining half of the ex-EP 76, 98 and 117 acreage positions following the completion of the checkboard process, with Falcon holding the remaining 22.5% interest. NEW YORK, May 13, 2025--(BUSINESS WIRE)--Tamboran Resources Corporation (NYSE: TBN, ASX: TBN): Tamboran Resources Corporation Chief Executive Officer, Joel Riddle, said: "We have engaged RBC Capital Markets to progress a farm down of acreage to carry Tamboran through the delineation of gas resources to underpin our Phase 2 strategy. "Tamboran and DWE will continue working together on the Pilot Area, where we are focused on the development of the proposed 40 MMcf/d Shenandoah South Pilot Project. Tamboran's recently secured funding is expected to support the drilling activities required to reach initial production in mid-2026, subject to weather and customary regulatory approvals. "DWE will also participate in our Phase 2 Development Area and we look forward to continuing to work with DWE on progressing our joint ambition to be a major gas supplier to the East Coast gas market at a time when the market is anticipating a shortfall at the back end of the decade." Checkerboard update Tamboran and DWE (100% owned by Formentera Australia Fund, LP) have signed a binding agreement to finalize the checkerboard of the joint acreage position across EPs 76, 98 and 117. Under the process, Tamboran and DWE selected acreage, resulting in each party holding regions at a 77.5% owned and operated working interest (Falcon hold the remaining 22.5% non-operating interest). Ownership of the proposed northern Pilot Area, the focus for initial gas production in the Northern Territory, remains unchanged (Tamboran 47.5% operator, DWE 47.5% and Falcon 5%) with expansion into the southern Pilot Area (Tamboran 38.75%, DWE 38.75% operator and Falcon 22.5%) anticipated in accordance with the terms of the acreage sale. Acreage sale In conjunction with the checkerboard, Tamboran and DWE have entered into a binding agreement whereby DWE will acquire a non-operating and non-controlling interest across 100,000 acres within two areas of Tamboran's post-checkerboard acreage position for a consideration of US$15 million. The transaction is subject to certain conditions precedent including, and not limited to, DWE obtaining approval from the Formentera Australia Fund, LP's Limited Partner Advisory Committee, Tamboran shareholder approval and regulatory approvals. Farm down update Tamboran has engaged RBC Capital Markets to conduct a farm down process of the area designated as Phase 2 Development Area. This area covers 406,693 acres located immediately north of the Pilot Area. The process is expected to commence following results of the SS-2H ST1 well, which is planned to be released in June 2025. DWE will have the right to participate in any farm down deal at the same terms provided to Tamboran. Figure 2: Tamboran net prospective acres across the Beetaloo Basin assets Company Gross Acreage Interest Net Acreage Proposed northern Pilot Project Area1 20,309 47.50% 9,647 Proposed southern Pilot Project Area 20,309 38.75% 7,870 Phase 2 Development Area 406,693 58.12% 236,370 Proposed Retention Lease 10 219,030 67.83% 148,568 Remaining ex-EP 76, 98 and 117 acreage 1,487,418 77.50% 1,152,749 EP 136 207,000 100.00% 207,000 EP 161 512,000 25.00% 128,000 Total 2,872,759 1,890,204 May not add due to rounding.1Subject to the completion of the SS-2H ST1 and SS-3H wells on the Shenandoah South pad 2. Working Interests – Phase 2 Development Area Company Previous New Tamboran (West) Pty Limited1 38.75% 58.12% Daly Waters Energy, LP 38.75% 19.38% Falcon Oil and Gas Australia Limited 22.50% 22.50% Total 100.0% 100.0% Working Interests – Proposed RL10 Company Previous New Tamboran (West) Pty Limited1 38.75% 67.83% Daly Waters Energy, LP 38.75% 9.67% Falcon Oil and Gas Australia Limited 22.5% 22.50% Total 100.0% 100.0% Working Interests – Remaining Tamboran owned Ex-EP 76, 98 and 117 acreage Company Previous New Tamboran (West) Pty Limited1 38.75% 77.5% Daly Waters Energy, LP 38.75% - Falcon Oil and Gas Australia Limited 22.5% 22.5% Total 100.0% 100.0% 1Denotes operatorship of the assets. This announcement was approved and authorized for release by Joel Riddle, Chief Executive Officer of Tamboran Resources Corporation. About Tamboran Resources Corporation Tamboran Resources Corporation ("Tamboran" or the "Company"), through its subsidiaries, is the largest acreage holder and operator with approximately 1.9 million net prospective acres in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. Tamboran's key assets include a 47.5% operating interest over 20,309 acres in the proposed northern Pilot Area, a 38.75% non-operating interest over 20,309 acres in the proposed southern Pilot Area, a 58.13% operating interest in the proposed Phase 2 development area covering 406,693 acres, a 67.83% operated interest over 219,030 acres in a proposed Retention License 10, a 77.5% operating interest across 1,487,418 acres over ex-EPs 76, 98 and 117, a 100% working interest and operatorship in EP 136 and a 25% non-operated working interest in EP 161, which are all located in the Beetaloo Basin. The Company has also secured ~420 acres (170 hectares) of land at the Middle Arm Sustainable Development Precinct in Darwin, the location of Tamboran's proposed NTLNG project. Pre-FEED activities are being undertaken by Bechtel Corporation. Disclaimer Tamboran makes no representation, assurance or guarantee as to the accuracy or likelihood of fulfilment of any forward-looking statement or any outcomes expressed or implied in any forward-looking statement. The forward-looking statements in this report reflect expectations held at the date of this document. Except as required by applicable law or the ASX Listing Rules, Tamboran disclaims any obligation or undertaking to publicly update any forward-looking statements, or discussion of future financial prospects, whether as a result of new information or of future events. The information contained in this announcement does not take into account the investment objectives, financial situation or particular needs of any recipient and is not financial product advice. Before making an investment decision, recipients of this announcement should consider their own needs and situation and, if necessary, seek independent professional advice. To the maximum extent permitted by law, Tamboran and its officers, employees, agents and advisers give no warranty, representation or guarantee as to the accuracy, completeness or reliability of the information contained in this presentation. Further, none of Tamboran nor its officers, employees, agents or advisers accept, to the extent permitted by law, responsibility for any loss, claim, damages, costs or expenses arising out of, or in connection with, the information contained in this announcement. Note on Forward-Looking Statements This press release contains "forward-looking" statements related to the Company within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements reflect the Company's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," "participate," "progress," "conduct" and the negatives of these words and other similar expressions generally identify forward-looking statements. It is possible that the Company's future financial performance may differ from expectations due to a variety of factors, including but not limited to: our early stage of development with no material revenue expected until 2026 and our limited operating history; the substantial additional capital required for our business plan, which we may be unable to raise on acceptable terms; our strategy to deliver natural gas to the Australian East Coast and select Asian markets being contingent upon constructing additional pipeline capacity, which may not be secured; the absence of proved reserves and the risk that our drilling may not yield natural gas in commercial quantities or quality; the speculative nature of drilling activities, which involve significant costs and may not result in discoveries or additions to our future production or reserves; the challenges associated with importing U.S. practices and technology to the Northern Territory, which could affect our operations and growth due to limited local experience; the critical need for timely access to appropriate equipment and infrastructure, which may impact our market access and business plan execution; the operational complexities and inherent risks of drilling, completions, workover, and hydraulic fracturing operations that could adversely affect our business; the volatility of natural gas prices and its potential adverse effect on our financial condition and operations; the risks of construction delays, cost overruns, and negative effects on our financial and operational performance associated with midstream projects; the potential fundamental impact on our business if our assessments of the Beetaloo are materially inaccurate; the concentration of all our assets and operations in the Beetaloo, making us susceptible to region-specific risks; the substantial doubt raised by our recurring operational losses, negative cash flows, and cumulative net losses about our ability to continue as a going concern; complex laws and regulations that could affect our operational costs and feasibility or lead to significant liabilities; community opposition that could result in costly delays and impede our ability to obtain necessary government approvals; exploration and development activities in the Beetaloo that may lead to legal disputes, operational disruptions, and reputational damage due to native title and heritage issues; the requirement to produce natural gas on a Scope 1 net zero basis upon commencement of commercial production, with internal goals for operational net zero, which may increase our production costs; the increased attention to ESG matters and environmental conservation measures that could adversely impact our business operations; risks related to our corporate structure; risks related to our common stock and CDIs; and the other risk factors discussed in the this report and the Company's filings with the Securities and Exchange Commission. It is not possible to foresee or identify all such factors. Any forward-looking statements in this document are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations. While the Company continually reviews trends and uncertainties affecting the Company's results of operations and financial condition, the Company does not assume any obligation to update or supplement any particular forward-looking statements contained in this document. View source version on Contacts Investor enquiries: Chris Morbey, Vice President – Corporate Development and Investor Relations+61 2 8330 6626Investors@ Media enquiries: +61 2 8330 6626Media@
