Energy Club NT - Tamboran Resources: Completes Falcon farm-in carry commitments

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Tamboran Resources: Completes Falcon farm-in carry commitments

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Tamboran Resources: Completes Falcon farm-in carry commitments

25 Aug 2023 2:54 PM | Stephanie Berlin (Administrator)

Highlights

In accordance with the 2014 Falcon Oil and Gas Limited (Falcon) farm-in agreement, Tamboran has given notice to Falcon that all farm-in commitments have been fully satisfied, having reached the associated cost carry commitment.

All parties have committed to fully fund their full working interest of future cash calls at Shenandoah South 1H (SS1H) in EP 117, which commenced drilling on 01 August 2023.

Falcon remains carried for a net A$6.8 million (A$3.4 million net Tamboran) consideration for future drilling activities, following an agreement to waive its pre-emptive rights, as announced by Tamboran on 12 October 2022.

To view the full ASX announcement, click here.

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