Half Yearly Report and Accounts
Sydney, Mar 15, 2024 AEST (ABN Newswire) - Tamboran Resources Corporation (
ASX:TBN) (TBNNY:OTCMKTS) is the largest acreage holder and operator with ~1.9 million net prospective acres in the Beetaloo Basin of the Northern Territory, focused on the development low reservoir CO2 natural gas resources within its portfolio (EP 76, EP 98, EP 117, EP 136, EP 143, EP 161 and EP(A) 197).
The Company has achieved significant milestones over the past six months including the redomicile of the Company to the U.S., drilling and stimulation of the Shenandoah South 1H (SS-1H) well which delivered record normalized 30 day initial production (IP30) flow rates during February 2024, the A$55 million capital raise from existing shareholders and new strategic partner Liberty Energy Inc. (Liberty), and advancing on key commercial agreements with APA Group.
These activities position the Company to progress the development of our significant Beetaloo Basin acreage position to initially support the Northern Territory and then the East Coast gas markets, which are both expected to be short of gas during the decade.
The Phase 1 development includes the proposed 40 million cubic feet per day (MMcf/d) Pilot Project at the Shenandoah South area in the western region of our Beetaloo Basin acreage. The proposed project aims to deliver gas into the Northern Territory gas market by as early as H1 2026.
*To view the Half Yearly Report, please visit:
https://abnnewswire.net/lnk/92QB1585
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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