Tamboran Resources Corp

Tamboran Resources Limited is the largest acreage holder with ~1.9 million net prospective net acres in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. 

The Company 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 basin. Tamboran’s key assets include a 25% working interest in EP 161, a 100% working interest and operatorship in EP 136, EP 143 and EP(A) 197 and a 38.75% working interest and operatorship in EPs 98, 117 and 76 which are all located in the Beetaloo Basin. 

Tamboran will focus on the development of the proposed EP 98 Pilot Development, targeting first production by the end of calendar year 2025.

Business.gov.au

Liberty Oilfield Services

Bryan Sheffield

Tamboran Resources Limited

Tamboran Resources Limited is pleased to present its second quarter activities report for period ended 31 December 2022.

During the quarter, Tamboran and Daly Waters Energy  LP (DWE) completed the $60 million acquisition of #Beetaloo Basin assets EP 76, 98 and 117. The acquisition positions Tamboran as the largest operator and acreage holder in the Basin, with ~1.9 million net prospective acres. 

#TBN completed drilling the Maverick 1V (M1V) well in 100 per cent owned and operated EP 136, reaching a total depth (TD) of 3,050 metres. The vertical well reached TD in 18.3 days, a 54 per cent reduction in drill time compared to other nearby vertical wells of similar depth, and encountered strong gas shows within the Mid-Velkerri “A”, “B” and “C” shales.

In November 2022, Tamboran commenced drilling the Amungee 2H (A2H) well within 38.75 per cent owned and operated EP 98. The well reached a TD of 3,883 metres in 38 days, including a 1,275-metre horizontal section, in December 2022, representing the fastest well drilled to a TD in excess of 3,500 metres.

Tamboran plans to commence a stimulation program of the A2H well during the first quarter of calendar year 2023, subject to weather allowing for the mobilisation of equipment.

Full report: https://bit.ly/3R1nBj2

#TamboranResources #gas #ASX #ASXNews

via Market Index

Macquarie Bank Ltd expects 2023 to be a “pivotal” year for shale #gas frackers in the Northern Territory’s #Beetaloo Basin.

The bank has thrown its support behind energy midweight Tamboran Resources Limited in a research note released on Monday. Macquarie sees a chance for 40% Total Shareholder Return (TSR) with a share price target of 35cps.

The result of #TBN’s Amungee-2H flow test, which will measure initial gas volumes returned to surface from the newly completed well, will be closely watched by Macquarie and other stakeholders. These results are expected to land in March or April 2023, drilling concluded last month. 

Learn more: https://bit.ly/3Xt3Xyc

#TamboranResources #ASX

Tamboran Resources Limited, operator of the Beetaloo Joint Venture, has signed a contract with Condor Energy Services Limited to undertake the stimulation program within the Amungee 2H well in #Beetaloo Basin Exploration Permit (EP) 98. 

Under the contract, Condor will provide stimulation and coiled tubing services to complete up to 24 stimulation stages within the Mid-Velkerri “B Shale”. 

We are excited to be working with Condor, a highly respected Australian services provider, and look forward to sharing more information on the flow tests from the well over the coming months.

#TamboranResources #TBN #gas #ASX

If you are interested in an exciting new career ensuring the safety of our operations and team, please view our new HSE Sr. Manager position description.

https://lnkd.in/gWdDrbaS

via Proactive

Tamboran Resources Limited has successfully drilled the Amungee 2H (A2H) well to a total depth of 3,883 metres in the exploration permit 98 (EP 98) area of interest, with a horizontal component of 1,275 metres.

#TBN drilled the well in the most prospective zone within the Mid-Velkerri “B Shale” formation, where it encountered “significant” #gas shows in line with pre-drill expectations.

The well was cased with 5 and a half inch casing, which #Tamboran believes is optimal for placing a high intensity stimulation and on par with modern US unconventional drilling designs.

Read more: https://bit.ly/3Vs8Zde

#TamboranResources #ASX

Tamboran Resources Limited Managing Director Joel Riddle sits down with Proactive to discuss the successfully drilled Amungee 2H (A2H) well in EP 98. 

The well was drilled in 38 days at a total cost of $14.1 million, ahead of pre-drill design days and budget. The drilling, stimulating and flow testing of A2H is to determine the #gas deliverability of the Mid-Velkerri ‘B Shale’ in the deeper regions of the Beetaloo Basin. 

Importantly, the well was completed with 5-1⁄2 inch casing, on par with modern US unconventional #drilling designs.

Watch the full interview: https://bit.ly/3HX0cfW

#TBN #ASX

#ASXNews

EP 98 Operational Update: Amungee 2H drilled ahead of budget and schedule

The Amungee 2H (A2H) in EP 98 was successfully drilled to a total depth (TD) of 3,883 metres, including a 1,275-metre horizontal section, which was placed in the most prospective zone within the Mid-Velkerri “B Shale” formation. The well encountered significant #gas shows within the MidVelkerri “B Shale” formation, in line with pre-drill expectations.

The A2H well has been drilled and cased with 5-½ inch casing, the optimal casing size to place a high intensity stimulation and on par with modern US unconventional #drilling designs.

The well was drilled in 38 days (spud to TD) at a total cost of $14.1 million (excluding casing and cementing), slightly ahead of pre-drill design days and budget.

Tamboran Resources Limited is planning up to 24 stimulation stages within the Mid-Velkerri “B Shale”, expected to commence during the first quarter of calendar year 2023, subject to weather conditions.

#TBN’s Managing Director and CEO, Joel Riddle, said:

“We are pleased to have drilled and cased the A2H well ahead of budget and schedule. The well intersected the Mid-Velkerri ‘B Shale’ at 2,413 metres vertical depth, in line with pre-drill expectation. The well was drilled with a 1,275-metre horizontal section, which is planned to be stimulated with up to 24 stages during the first quarter of calendar year 2023, subject to weather conditions.

Full announcement: https://bit.ly/3FHE8Di

#TamboranResources #ASX

MST Access has maintained its Price Target for Tamboran Resources Limited at $0.58/share in a valuation update covering the company’s Beetloo Basin activities. 

#TBN has recently entered into a number of transactions that has materially lifted its prospective and contingent resource base. Key points to note are: 

• TBN and Bryan Sheffield agreed to jointly  acquire Origin Energy’s (ORG) 77.5 % interest in three Beetaloo Basin permits (EP 98, 117 and 76) through a joint venture for an upfront cash consideration of $60 m plus a future production revenue royalty of 5.5% to ORG. 

• Post the acquisition, TBN has become the largest acreage holder in the Beetaloo Basin with ~1.9 million net prospective acres , increased its net 2C contingent gas resources 270% to ~1.5 Tcf from 0.4 Tcf, and increased its net 2U prospective gas resources 370% to ~147 Tcf from 31 Tcf. 

• Equity capital of ~140m at $0.21 per share has been raised via institutional and private placements and a share purchase plan to fund the various transactions and program requirements. 

• TBN has granted a 2.3% overriding royalty interest covering TBN’s EP 136 (100%), EP 161 (25%), EP 98, EP 117 and EP143 (the ORG assets) (38.75%), EP 143 (100%) and EP 197 (100%) to Sheffield interests for a cash consideration of $22 m.

Read the full report here: https://bit.ly/3VSOqXJ

#TamboranResources #Oil #Gas #ASX

via Sky News Australia 

Joel Riddle, Managing Director of Tamboran Resources Limited has said the company aims to be producing gas from the Beetaloo Basin by mid-2024 with 100 per cent of #TBN’s gas used as domestic supply.

As the Federal Government considers a domestic gas reservation policy, a cap on prices or a new tax to bring down energy costs, Riddle sees this as a solution around bringing new gas supply into a structurally short gas market on the east coast.

Watch the full video: https://bit.ly/3GI8RlW

#TBN #TamboranResources #Oil #Gas #ASX

COM:TAMBORAN

Tamboran Resources

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