Highlights
• Tamboran Resources Corporation has entered into a non-binding Letter of Intent (LOI) with a
wholly owned subsidiary of Arafura Rare Earths Limited to progress discussions for
potential gas supply from Tamboran’s Beetaloo Basin assets to Arafura’s Nolans Rare Earth
Project in the Northern Territory.
• Under the agreement, Arafura intends to support the development of Tamboran’s Beetaloo Basin
acreage by purchasing 18 – 25 terajoules per day (TJ/d) (~18 – 26 MMcf/d) of gas for up to 10
years.
• Arafura’s Nolans Rare Earth Project is located 404 miles (650 kilometres) south of Tamboran’s
Beetaloo Basin acreage. Arafura’s proposed downstream rare earth processing facility is situated
adjacent to the existing Amadeus Gas Pipeline (AGP).
• The two parties will work in good faith to negotiate a full form term sheet and definitive form
documentation.
Tamboran Resources Corporation Managing Director and CEO, Joel Riddle, said:
“Tamboran’s LOI with Arafura demonstrates our company’s ongoing commitment to support jobs and
industry within the Northern Territory. Arafura’s operations require reliable and affordable gas volumes to
operate their rare earths project, which is of national strategic importance.
“The Nolans Rare Earth Project has received credit approved terms for more than US$1 billion in debt
finance from nine export credit agencies and commercial lenders and A$200m investment commitment
from Australia’s National Reconstruction Fund Corporation.
“Tamboran looks forward to building a long-term relationship with Arafura and supplying natural gas to a
project of national significance.”
This announcement was approved and authorized for release by Joel Riddle, Chief Executive Officer of Tamboran Resources Corporation.
