September 2021 Quarterly Activities Report
Sydney, Oct 28, 2021 AEST (ABN Newswire) - Tamboran Resources Limited (
ASX:TBN) announce the Quarterly Activities Report for period ended 30 September 2021.
Highlights
- EP 161 Tanumbirini 2H ("T2H") successfully drilled to 4,598 metres total depth, encountering significant gas shows and pressures that are typically strong indicators of commercial flow rates.
- Commenced drilling the Tanumbirini 3H ("T3H") well in EP 161. The vertical section of the well was completed subsequent to the end of the quarter.
- Fracture stimulation and flow testing to occur following the drilling of T3H. Preliminary flow test results from the T2H and T3H wells are anticipated by end CY2021.
- Recruited a highly experienced operational and technical team, currently focused on the planning and design of the Maverick 1 ("M1H") horizontal well in Tamboran's 100% owned EP 136 permit.
Tamboran Resources Limited (ASX:TBN) Managing Director and CEO, Joel Riddle said:
"Tamboran successfully listed on the ASX on 2 July and is contributing to the most active drilling season that we have seen to date in the Core Beetaloo Sub-basin. Tamboran is participating in the drilling of two horizontal wells with Santos QNT Pty Ltd ("Santos"), our joint venture partner in EP 161.
"We are coming to the end of our 2021 drilling campaign, and the focus will now move to fracture stimulation and flow testing of both wells. The data and information gathered from this testing program will aid in the design and implementation of our operated 2022 drilling operations in our 100% owned EP 136, located adjacent to EP 161. We are confident that the EP 161 and EP 136 drilling will de-risk the core area of the Beetaloo Sub-basin and, assuming commercial flow rates are established, we intend to use the data gathered to plan for future pilot development on our EP 136 permit.
"The Core Beetaloo Sub-basin is recognised as one of the most prolific potential natural gas resources in Australia with national significance. The natural gas discovered to date in the Beetaloo has low CO2 content and our assets have considerable potential to provide a new and material source of energy for Australia's energy needs as the country transitions to a lower emissions future."
To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/U8Z081RS
About Tamboran Resources Corporation
Tamboran Resources Corporation (ASX:TBN) is a natural gas company that intends to play a constructive role in the global energy transition towards a lower carbon future by developing low CO2 unconventional natural gas resources in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. Tamboran's key assets are a 25% working interest in EP 161 and a 100% working interest in EP 136, EP 143 and EP(A) 197 which are located in the Beetaloo Sub-basin.
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