Tamboran Resources Limited Tanumbirini 2H and 3H 30-day normalised flow rates exceed estimated Beetaloo commerciality threshold(1) The Tanumbirini 2H and 3H wells in EP 161 (Santos 75% operator, Tamboran 25%) have both achieved average 30-day (IP30) flow rates that exceed Tamboran's assessed commerciality threshold for a 1,000-metre horizontal well within Beetaloo Basin permits. The T3H well delivered an average IP30 flow rate of 3.1 (mmscfd) over a 600-metre completed horizontal section (normalised at 5.2 mmscfd over 1,000-metres) since re-commencement of flow testing in August 2022 following the installation of production tubing. The T2H well delivered an average IP30 flow rate of 2.1 mmscfd over a 660-metre completed horizontal section (normalised at 3.3 mmscfd over 1,000-metres).

The T2H well had already produced 0.27 billion cubic feet (BCF) prior to the installation of production tubing, and therefore the current rates do not reflect the true potential IP30 of the well. Both wells have stabilised and are currently declining in line with pre-drill expectations, which resemble decline profiles from dry gas shale wells in the US. Tamboran plans to release IP90 flow rates during the fourth quarter of calendar year 2022.

These are outstanding results and provide increased confidence regarding the commerciality of a potential Beetaloo development.