Tamboran and Jemena have signed a binding Memorandum of Understanding (MOU) to enable Tamboran to contract ~100 TJ per day of firm capacity through the Northern Gas Pipeline (NGP), subject to applying NGP Access Principles, under a long-term gas transportation agreement. The long-term transportation access agreement with Jemena will support the sanctioning of the proposed Maverick Pilot Development, planned for the end of calendar year 2023. Over calendar years 2022 and 2023, Tamboran plans to drill three horizontal wells within EP 136.

Based on a Netherland, Sewell and Associates Inc. (NSAI) maturation study, if successful, these wells could deliver approximately 1 trillion cubic feet (TCF) of 2C contingent resources, sufficient to support the proposed Maverick Pilot Development. Tamboran is targeting initial production from the development by the end of calendar year 2025. Tamboran will now commence Front End Engineering and Design (FEED) studies to progress the proposed Maverick Pilot Development.

Tamboran will commence stakeholder engagement activities for the selected pipeline route and secure NGP access agreements with Jemena, planned to be completed during the second half of calendar year 2022.