EP 161 Update: Flow test analysis of Tanumbirini wells

Highlights

• Tamboran has completed analysis of two Tanumbirini flow tests in the Santos-operated EP 161 permit (Tamboran 25 per cent), including modelling of the production curves by independent third-party subsurface experts, Subsurface Dynamics, Inc.

• Modelling of Tanumbirini 2H (T2H) and 3H (T3H) has demonstrated a 20-year Estimated Ultimate Recovery (EUR) of approximately 16.8 – 18.5 billion cubic feet (BCF), respectively, for a proposed ~3,000-metre development scale well. These results are in-line with the most productive regions of the Marcellus Basin, USA, one of the world’s most prolific shale gas basins.

• The productivity of the wells, which flow tested the Mid Velkerri “B Shale” at depths of more than 3,400 metres total vertical depth (TVD), validate Tamboran’s view that the ‘core’ areas of Beetaloo Basin remains the most productive and validate further testing.

• The results support the Beetaloo Joint Venture drilling decision of the Shenandoah South 1H (SS1H) well in EP 117 (Tamboran 38.75 per cent), where the Mid Velkerri “B Shale” is expected to be approximately 700 metres (30 per cent) deeper than at Amungee 2H. This greater depth is expected to experience higher pressure and therefore improved flow rates and EURs.

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