- The Tanumbirini 2H (T2H) well averaged 1.7 million standard cubic feet per day (mmscfd) (2.6 mmscfd normalised for a 1,000-metre section) over an initial 83-days of flow testing. Rates have declined in-line with expectation.
- The Tanumbirini 3H (T3H) well averaged 1.5 mmscfd (2.5 mmscfd normalised for a 1,000-metre section) over 32-days prior to being shut-in for pressure build-up in
- Announced a 428 per cent increase to Tamboran's unrisked net 2C contingent resources to 153 billion cubic feet (BCF), certified by
- NSAI resource maturation study highlighting potential for Tamboran to book approximately 1 TCF 2C contingent gas resources within EP 136 by the end of calendar year 2023, subject to positive results from the planned Maverick 1H (M1H), 2H and 3H wells.
- Awarded a grant of up to
- Members of Tamboran's Board and management team acquired 3.6 million shares, increasing ownership to 25 per cent. The purchases highlight the team's confidence in the commercialisation of Tamboran's Beetaloo acreage following the T2H and T3H flow tests.
- Strong balance sheet with
"The third quarter of financial year 2022 was another busy period for the Company as we continue to focus our efforts on commercialising the low-carbon dioxide gas resource in the 'Core' Beetaloo Sub-basin of the
"During the period, the T2H and T3H wells delivered potentially commercial flow rates from unoptimised fracture stimulated lateral sections within the
"As a result of the T2H and T3H well flow tests, NSAI certified a 428 per cent increase in our net 2C contingent resources to 153 BCF and 336 per cent increase in our net 1C contingent resources to 48 BCF within EP 161. Importantly, these contingent resources cover only 1.2 per cent of the Tamboran's current 12.3 TCF of net unrisked prospective gas resources in the permit, with further upside as prospective gas resources are converted to contingent resources with additional drilling within the permit.
"During the quarter, our team worked closely with NSAI to develop a resource maturation study that could potentially result in us booking approximately 1 TCF of 2C contingent gas resources within our 100 per cent owned and operated EP 136 acreage. The maturation study includes a three well configuration that could be delivered by successful results from the M1H, M2H and M3H wells by the end of calendar year 2023."
*To view the full quarterly report, please visit:
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