Start of the campaign for the stimulation of SS-2H ST1 and SS-3H ulaganjem.com

Highlight

• Tamboran commenced stimulation activities of the Shenandoah South 2H Sidetrack (SS-2H ST1) and 3H (SS-3H) wells in the Beetaloo Basin EP 98 exploration permit.
• The company plans to pump up to 119 stimulation stages in two wells with reduced stage spacing. The SS-2H ST1 well is planned to include 43 stages over a 5,427-foot (1,654-meter) horizontal section, and the SS-3H well is planned to include 76 stages in a 9,766-foot (2,977-meter) horizontal section.
• The campaign is being conducted with Liberty Energy’s (NYSE: LBRT) state-of-the-art stimulation rig, which is the first 80,000 hydraulic horsepower (HHP) fracking rig deployed in the US’s Beetaloo Basin.
• The increased horsepower from the Freedom rig is expected to result in a >25% increase in proppat intensity of 2,800 pounds per foot, compared to the Shenandoah South 1H well. All stages are pumped with a smooth water fluid design.

New York-(Business Wire)-Tamboran Resources Corporation Managing Director and CEO Joel Riddle said:

We are excited to begin the stimulation program for SS-2H ST1 and SS-3H in the Beetaloo Basin with Liberty Energy’s state-of-the-art stimulation equipment. The increased horsepower of this rig is expected to achieve a step up in stimulation efficiency and proppat intensity over previous wells completed in the basin.

This stimulation campaign is the largest to date in the Beetaloo Basin, with up to 119 stages over a full lateral length of 15,193 feet (~ 4,631 meters) in two wells, averaging ~ 127 feet per stage stimulated.

Importantly, these wells are planned to be among the first to provide reliable power to the Northern Territory, with production feeding into the proposed 40 MMCF/D Shenandoah South Pilot Project.

Over the past two years, we have successfully undertaken wet season stimulation programs in the basin, with campaigns in the Amungee 2H (2022/23) and Shenandoah South 1H (2023/24). This experience gives us confidence in our ability to safely and efficiently conduct these operations throughout the year.

Tamboran Resources Corporation

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Suite 1, Level 39, 100 Barangaroo Avenue, Barangaroo NSW 2000, Australia
+61 2 8330 6626 www.tamboran.com

This announcement has been approved and approved for release by Joel Riddle, CEO of Tamboran Resources Corporation.

About Tamboran Resources Corporation

Tamboran Resources Corporation, (Tamboran or the Company), through its subsidiaries, is the largest holder and operator with approximately 1.9 million net prospective hectares in the Beetaloo subsurface within the Great McArthur Basin in the Northern Territory of Australia.

Tamboran’s key assets include a 38.75% working interest and operation in EPS 98, 117 and 76, a 100% working interest and operation in EP 136 and a 25% unoperated working interest in EP 161, all of which are located in the Beetaloo Basin.

Waiver

Tamboran makes no representation, warranty or guarantee as to the accuracy or likelihood of fulfillment of any forward-looking statement or of any outcomes expressed or implied by any forward-looking statement. Forward-looking statements in this report reflect expectations held as of the date hereof. Except as required by applicable law or ASX listing rules, Tamboran disclaims any obligation or undertaking to publicly update any forward-looking statements or discussions of future financial prospects, whether as a result of new information or 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 consultants make 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 accepts, to the extent permitted by law, any liability for any loss, claim, damage, cost or expense arising out of or in connection with the information contained herein announce.

Note on forward-looking statements

This press release contains forward-looking statements relating to the Company within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act) and Section 27A of the Securities Act of 1933, as amended. additions. 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, predict, will, could, should, play, plan, estimate, intend, predict, potentially, continue and negative 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 various factors, including but not limited to: our early stage of development with no expected material revenue through 2026 and our limited operating history; substantial additional capital required for our business plan, which we may not be able to obtain on acceptable terms; Our strategy to deliver on the Australian East Coast and select Asian markets that are dependent on the construction of additional pipeline capacity, which may not have been 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; Challenges associated with importing US practices and technology into the Northern Territory, which could impact our business and growth due to limited local experience; Critical need for timely access to appropriate equipment and infrastructure, which may affect our market access and execution of business plan; Operational complexities and inherent risks of drilling, completion, fracturing and hydraulic fracturing that could adversely affect our business; natural gas price volatility and its potential adverse effect on our financial condition and operations; risks of construction delays, cost overruns and adverse effects on our financial and operational performance associated with midstream projects; The potential fundamental impact on our business if our estimates of beetaloo are materially inaccurate; the concentration of all of our assets and operations in Beetalo, which makes us vulnerable to region-specific risks; significant doubt raised by our recurring operating losses, negative cash flows and cumulative net losses regarding our ability to continue as a going concern; Complex laws and regulations that could affect our operating costs and feasibility or result in significant liabilities; Community opposition that could result in costly delays and impede our ability to obtain necessary governmental approvals; Research and development activities at Beetaloo that may lead to legal disputes, operational disruptions and reputational damage due to original title and heritage; the requirement to produce net-zero scope 1 natural gas at the start of commercial production, with internal targets for operational net-zero, which may increase our production costs; increased attention to ESG issues and environmental protection measures that could negatively affect our business; risks related to our corporate structure; risks associated with our common stock and CDIs; and other risk factors discussed in this report and the company’s filing with the Securities and Exchange Commission.

It is not possible to predict or identify all such factors. All forward-looking statements in this document are based on certain assumptions and analyzes 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 under the circumstances. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from expectations. Although the company continuously reviews trends and uncertainties affecting the Company’s business results and financial condition, the Company undertakes no obligation to update or supplement any particular statement contained in this document.

See the original version on BusinessWire.com: https://www.businesswire.com/news/home/20250123854017/en/

Investor inquiries:
Chris Morbey, Vice President Corporate Development and Investor Relations
+61 2 8330 6626
Investors@tamboran.com

Media inquiries:
+61 2 8330 6626
Media@tamboran.com

Source: Tamboran Resources Corporation