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Tamboran Resources: EP 98/117 Operational Update

16 Oct 2023 9:02 AM | Stephanie Berlin (Administrator)

EP 98/117 Operational Update: A3H drilled in record time in less than 18 days

Highlights

The Amungee NW 3H (A3H) well in 38.75 per cent owned exploration permit EP 98 has reached a Total Depth (TD) of 3,837 metres (12,589 feet), including a 1,100-metre (3,609 feet) horizontal section within the Mid Velkerri B Shale.

The well intersected the target Mid Velkerri B shale at a total vertical depth (TVD) of 2,272 metres (7,454 feet) and encountered significant gas shows within the shale, in line with pre-drill expectation.

Drilling took in 17.9 days (spud to TD), 20 days faster than the Amungee 2H (A2H) well, at an average daily rate of 214 metres per day (702 feet per day). This demonstrates the improved drilling efficiency of Helmerich & Payne, Inc.’s (H&P), (NYSE: HP), super-spec FlexRig® Flex 3 Rig.

Total estimated cost for the drilling and cementing of the A3H well is A$12.6 million, in line with forecast and ~30 per cent lower cost compared to the A2H well. The stimulation program is planned for the second quarter of 2024, following the end of the Northern Territory wet season.

Stimulation activities for the Shenandoah South 1H (SS1H) well in EP 117 are on track to commence in November 2023 with IP30 flow rates planned for early 2024, subject to successful completion of the stimulation program and weather delays.

Source: Tamboran Resources

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