Highlights
• Tamboran has successfully commenced drilling of the Shenandoah South 1H (SS1H) well with
the Helmerich & Payne, Inc. (H&P), (NYSE: HP), super-spec FlexRig® Flex 3 Rig.
• The SS1H well is targeting the deeper Mid-Velkerri “B Shale” in EP 117. The deeper shale is
expected to host higher pressures and therefore deliver higher flow rates than the Amungee 2H
(A2H) well location in EP 98.
• Drilling activity is expected to take ~45 days, including a pilot hole and 1,000-metre horizontal
section. The stimulation program is planned to commence during the fourth quarter of 2023.
• On completion of the SS1H flow testing, Tamboran and Daly Waters Energy LP will complete the
farm-in requirements to earn the 77.5 per cent interest (38.75 per cent each) and operatorship of
the EP 76, 98 and 117 permits. Falcon Oil and Gas Australia Limited will hold 22.5 per cent.
• Success at the SS1H well location could support the pilot development investment decision,
which includes use of the Clean Energy Fuels Australia (CEFA) facilities and APA Group (ASX:
APA) pipeline to the Amadeus Gas Pipeline (AGP). Tamboran is targeting first domestic gas sales
from the pilot development by the end of 2025.
• Fluid lab analysis from the A2H well is ongoing with remedial intervention work planned for later
this year, subject to joint venture approvals. The intervention is likely to coincide with activities
at the Amungee well pad where the JV is planning to drill the Amungee 3H well following SS1H.
Tamboran Resources Limited (ASX: TBN) Managing Director and CEO, Joel Riddle, said:
“We have recommenced our FY24 drilling activities with the Shenandoah South 1H well in EP 117. This
location has been identified by Tamboran as the most likely region to replicate the successful flow results
delivered from the Tanumbirini 2H and 3H wells in the EP 161 acreage, where Tamboran has a 25 per cent
working interest.
“The SS1H well is key to progressing our proposed pilot development from the location adjacent to the
AGP, where the joint venture is targeting first gas by the end of 2025. This is expected to deliver much
needed gas volumes to the NT and East Coast gas markets at a time when AEMO and ACCC are
forecasting a potential shortfall in gas supply.”
This ASX announcement was approved and authorised for release by Joel Riddle, the Managing
Director and Chief Executive Officer of Tamboran Resources Limited.