Tamboran Resources Corporation (ASX: $TBN) Announcement Overview

Tamboran Resources Corporation (ASX: $TBN) has signed a binding Gas Sales Agreement (GSA) with the Northern Territory Government to supply 40 TJ per day (~19 TJ per day net to Tamboran) from the proposed Shenandoah South Pilot Project for approximately 15 years. The agreement, starting in H1 2026, represents a significant portion of the Northern Territory's current gas requirements and is conditional on various agreements and regulatory approvals. Tamboran holds a 47.5% working interest in the project.

Executive Commentary on the Agreement

We are proud to deliver on our commitment to provide the Northern Territory Government with long-term gas supply from the Beetaloo Basin. Tamboran has always promised that our first gas production from the Basin would be to the benefit of Territorians and we are excited to play our part in boosting energy security in the Northern Territory. This is a transformational development for Tamboran and our partners, after ten years of hard work and more than A$500 million invested in Beetaloo exploration and appraisal activities. This represents a major milestone and puts Tamboran on a path where revenue from gas sales will support funding our future development phases, including supply to the East Coast gas market. In addition, the proposed Pilot Project is expected to provide initial royalties to both the Northern Territory Government and Traditional Owners within the region. With electricity in the Northern Territory predominantly sourced from gas-fired power, it is key that the Northern Territory has a readily available gas supply to keep the lights on. Due to the use of natural gas in the electricity supply, the Northern Territory is well below the national average for emissions intensity across Australia's electricity network, especially NSW, Victoria and Queensland who rely heavily on coal.

Summary of Tamboran Resources Corporation Announcement

Tamboran Resources Corporation (ASX: $TBN) has reached a significant milestone by signing a binding Gas Sales Agreement (GSA) with the Northern Territory Government to supply 40 TJ per day from the proposed Shenandoah South Pilot Project for approximately 15 years. The agreement, conditional on various approvals, is expected to contribute to energy security in the Northern Territory and provide revenue to support future development phases. Tamboran's commitment to the Beetaloo Basin aims to benefit the local community and contribute to lower emissions intensity in the region's electricity network. The company is targeting first gas flows in H1 2026 and is focused on playing a constructive role in the global energy transition towards a lower carbon future.