EP 98 Operational Update: Commencement of SS-2H ST1 and SS-3H Stimulation Campaign

Overview

Tamboran Resources has officially launched stimulation activities for the Shenandoah South 2H sidetrack (SS-2H ST1) and 3H (SS-3H) wells within the Beetaloo Basin exploration permit EP 98. This significant undertaking marks a major step forward for the company in its efforts to harness natural gas resources in Northern Territory, Australia.

Details of the Stimulation Campaign

The planned stimulation campaign is set to be the largest in the Beetaloo Basin thus far, aiming to conduct up to 119 stages of stimulation across the two wells. With a reduced spacing between stages, the SS-2H ST1 well is anticipated to include 43 stages over a horizontal section measuring 5,427 feet (1,654 meters), while the SS-3H well is expected to incorporate 76 stages along a 9,766-foot (2,977-meter) horizontal section.

This initiative utilizes cutting-edge stimulation equipment from Liberty Energy, which represents the first 80,000 hydraulic horsepower (HHP) frac spread imported from the United States into this region. The increased horsepower is projected to enhance the proppant intensity by over 25%, achieving more than 2,800 pounds per foot when compared to earlier wells in the basin.

Anticipated Outcomes

Joel Riddle, Managing Director and CEO of Tamboran Resources Corporation, expressed enthusiasm for the commencement of this stimulation program, highlighting the potential for enhanced efficiency in stimulation processes. This campaign not only aims to boost gas production but also to provide reliable energy to the Northern Territory. The output is expected to feed into the proposed 40 million cubic feet per day Shenandoah South Pilot Project.

Tamboran has a successful track record of conducting stimulation projects in the Beetaloo Basin during inclement weather conditions. Previous campaigns, such as those at Amungee 2H and Shenandoah South 1H, have provided valuable experience that underpins the company's confidence in executing these operations year-round.

Stimulation Design Comparison

Well	SS-1H	SS-2H ST1	SS-3H
Usable lateral stimulation length (feet)	1,640	5,427	9,766
Number of stimulated stages (#)	10	43	76
Average spacing (feet)	164	126	128
Stimulation intensity (lb/ft)	2,212	2,880	2,820
Average sand per stage (lb)	355,997	373,608	373,608
Equipment Used	Condor Energy	Liberty Energy
Equipment Horsepower (HHP)	40,000	80,000

Company Interests in EP 98/117

Company	Interest
Tamboran (B2) Pty Limited	77.5%
Falcon Oil and Gas Australia Limited	22.5%
Total	100.0%

Conclusion

This announcement is a clear reflection of Tamboran Resources' commitment to advancing natural gas production in the Beetaloo Basin. The company's strategic approach and innovative use of modern technology aim not only to enhance production efficiency but also to contribute to meeting energy needs in the Northern Territory.

For further information on Tamboran Resources Corporation and its activities, visit www.tamboran.com.

stimulation, gas, energy