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Focusing on Shenandoah South with Tamboran

Bass Oil

Tamboran Resources has increased interest in the Shenandoah South Pilot Project to a minimum of 47.5 per cent.

This has occurred after a decision by Falcon Oil & Gas Australia to limit its participation to 5 per cent in the Beetaloo Joint Ventures’ second Shenandoah South well pad (SS2) and the two wells in the 2024 drilling program.

“The increased working interest to a minimum of 47.5 per cent over 51,200 gross acres in the core of the Beetaloo West acreage is a significant opportunity for Tamboran’s shareholders,” Tamboran managing director and chief executive officer Joel Riddle said.

“This area has the potential to accommodate up to 23 well pads around the new SS2 well pad, including the development wells required to supply gas for the proposed 40 million cubic feet per day Pilot Project into the Northern Territory gas market.

“We plan to announce the final investment decision on the proposed pilot project in mid-2024, subject to funding and standard stakeholder and joint venture approvals.”

The two wells in the 2024 drilling program will create two Drilling Spacing Units (DSUs) totaling 51,200 gross acres around the new SS2 well pad, where Tamboran and Daly Waters Energy, LP (DWE) as 50/50 per cent owners of Tamboran have agreed to pick up the non-consent, increasing interest to 95 per cent.

Tamboran and DWE will carry Falcon for up to $3.75 million gross for the first well post 30 June 2024.

The 51,200 gross acre area has the potential to accommodate 23 well pads and it is expected to support the wells required to deliver gas to the proposed Shenandoah South Pilot Project.

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