Monday 6 September 2021

Tanumbirini 3H well (“T3H”) in EP 161 in the Beetaloo Sub-Basin spudded on 23 August 2021.

• T3H is currently ahead of schedule with the completion of the surface vertical hole section at 1,080 metres.

• The forward plan is to drill the vertical and angle build section to approximately 3,800 metres, prior to drilling approximately 1,000 metres horizontal section in the primary target of the MidVelkerri ‘B’ shale.

• Tanumbirini T2H (“T2H”) and T3H wells targeted to be fracture stimulated and flow tested prior to year-end 2021

Tamboran Resources Limited (ASX: TBN) Managing Director and CEO, Joel Riddle, said:

“The T3H well in EP 161, operated by our joint venture partner Santos QNT Pty Ltd (“Santos”), was spudded on the 23 August 2021. The drilling of the surface vertical hole section was completed at a depth of 1,080 metres and drilling in the intermediate vertical hole section is currently ahead of schedule.

“Once we have completed the drilling of the vertical and angle build section to the primary target of the Mid-Velkerri ‘B’ shale, we plan to drill a horizontal section of approximately 1,000 metres.

“Similar to our experience in other unconventional shale basins in the US, the learnings and knowledge gained by the recent T2H well are playing a considerable role in improving drilling efficiencies and reducing costs.

“Following the drilling of the T3H horizontal section, both T2H and T3H wells will be fracture stimulated and flow tested, with results expected to be available prior to year-end 2021. Our team will incorporate the learnings and information from T2H and T3H into the well design for Maverick 1H, the well that Tamboran intends to drill in EP 136, its 100% owned and operated permit, in 2022.”