Tamboran Resources Corporation (ASX: $TBN) achieves significant flow rates in SS-1H well

Tamboran Resources Corporation (ASX: $TBN) has announced that the Shenandoah South 1H (SS-1H) well in EP 117 has achieved an average 90-day initial production (IP90) flow rate of 2.9 million cubic feet per day (MMcf/d) over a 1,644-foot, 10 stage stimulated length within the Mid Velkerri B Shale, normalized to 5.8 MMcf/d over 1,000 metres. This flow test result indicates the potential for future development wells to deliver high average rates of 17.8 MMcf/d over the first 90 days of production. The company continues to undertake Front End Engineering and Design (FEED) studies on the proposed Shenandoah South Pilot Project and expects to make a Final Investment Decision (FID) in mid-2024, subject to funding and key stakeholder approvals.

Executive Commentary on SS-1H Flow Test Results

'The results of the SS-1H flow test have continued to exceed our pre-drill expectations, with flow rates and pressure declines in line with some of the most prolific regions of the Marcellus Shale in the US.'

Summary of Tamboran Resources Corporation's Announcement

Tamboran Resources Corporation (ASX: $TBN) has achieved significant flow rates in the SS-1H well, indicating the potential for high gas production in the Beetaloo Basin. The company's Managing Director and CEO, Joel Riddle, expressed confidence in the results, stating that the deepest regions of the Beetaloo Basin are expected to deliver premium economics and returns. Tamboran aims to integrate these results into its development planning, including the assessment of a six-well drilling campaign in 2024/25 to support the proposed Pilot Project in the Shenandoah South region. The proposed gas sales from the Pilot Project have been contracted to the Northern Territory Government, demonstrating the company's commitment to producing first volumes from the Beetaloo Basin to support the local gas market. Tamboran's ambitions include delivering gross Beetaloo Basin production of 2 Bcf/d for 40 years from a single landing zone, contributing to the global energy transition towards a lower carbon future.