Highlights

• The Sturt Plateau Compression Facility Trust (SPCF Trust), a 50/50 Joint Venture between Tamboran and Daly Waters Infrastructure, LP (DWI), has commenced gas commissioning of the SPCF with gas from wells on the Shenandoah South 2 pad.

• The SPCF is the key processing infrastructure required to deliver gas from the Shenandoah South Pilot Area to the Northern Territory gas market.

• The facility will be capable of processing up to 50 TJ/d of gas, with 40 TJ/d contracted to the Northern Territory Government (NTG) under a long-term, take-or-pay gas sales agreement (GSA).

• The SPCF construction project remains on schedule and within the P50 gross budget of A$141 million (~US$99 million).

• During commissioning, the BJV will sell gas to the NTG at a discounted rate under the long-term GSA, consistent with industry practice.

NEW YORK--(BUSINESS WIRE)-- Tamboran Resources Corporation (NYSE: TBN, ASX: TBN):

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Tamboran Resources Corporation Chief Executive Officer, Mr. Todd Abbott, said:

“Commissioning of the Sturt Plateau Compression Facility with gas from the SS2 well pad is a major milestone for Tamboran and the Beetaloo Basin. Full credit goes to the Tamboran team, our partners, as well as our key contractors, who have delivered the project on schedule and within budget.

“With all five wells on the Shenandoah South 2 pad drilled, stimulated and tied back to the facility, we look forward to imminently delivering first gas sales of up to 40 TJ/d to the Northern Territory Government under our long-term gas sales agreement, powering Northern Territory businesses and residences.

“The Beetaloo Basin is well positioned to deliver future energy security for Australia and our trading partners across the Asia Pacific, whilst also delivering lasting job and economic opportunities for Territorians and Native Title Holders.”

About the SPCF

Owner:

SPCF Trust (50% Tamboran Resources, 50% Daly Waters Infrastructure, LP under common ownership with Tamboran’s upstream joint venture partner, Daly Waters Energy, LP)

Capacity:

50 TJ/d (~48.5 MMcf/d)

Contracted Volume:

40 TJ/d (~38.8 MMcf/d) GSA for up to 14 years with the Northern Territory Government

P50 Budget:

A$141 million (US$99 million)

This announcement was approved and authorised for release by Mr. Todd Abbott, the Chief Executive Officer of Tamboran Resources Corporation.

Source: Tamboran Resources

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