Industry News

Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to provide an operational update on  the Shenandoah South 1H (“SS1H”) well in EP117 which is operated by Falcon Oil & Gas Australia Limited’s joint venture partner, Tamboran (B2) Pty Limited.

Details are as follows:

• A diagnostic fracture injection test (“DFIT”) of the Amungee Member B-shale on the SS1H well was conducted to analyse geo-mechanical and reservoir properties, with results verified by third-party subsurface experts, Subsurface Dynamics, Inc.

• Formation pressures at SS1H were monitored for over 20 days and analysed to provide a pore pressure prediction for the area.

• DFIT results have demonstrated an over pressured regime, with a pore pressure gradient of at least 0.54 pounds per square inch (psi) per foot, which is consistent with an over pressured regime observed in the core area of the Marcellus shale. In addition, this result provides confidence that the upcoming flow test of the SS-1H well can replicate or exceed commercial flow tests achieved at the Santos-operated Tanumbirini 2H and Tanumbirini 3H wells (0.51 – 0.56 psi per foot) in the EP 161 acreage.

• Condor Energy Services have commenced the mobilisation of stimulation equipment to the SS1H well pad ahead of the planned 10 stage stimulation program in November 2023. IP30 flow rate results are anticipated to be released in early Q1 2024, subject to the timing of stimulation fluid flow back.

• On successful flow testing of SS1H, the Beetaloo Joint Venture (“BJV”) expect to be in a position to sanction a proposed pilot development in the Shenandoah South region.

View full operations update here.

Source: Falcon Oil & Gas

• Carpentaria-3H (“C-3H) has been shut-in following completion of extended production testing. The 90-day initial production rate (IP90) achieved for C-3H was 3.1 TJ per day

• Carpentaria-2H and C-3H are now available to form part of the Carpentaria Pilot Project well inventory with the intention to tie into facility infrastructure for production

• APA will spend up to $5 million on Engineering and Design Concepts and may provide funding support for midstream gas infrastructure facilities associated with Empire’s Carpentaria Pilot Project to transport up to 25 TJ per day to market

• Carpentaria Pilot Project is progressing towards a final investment decision (“FID”)

• Cash at the end of the Quarter was $15.1 million and $29.3 million at the date of this report following receipt of a total Research and Development Tax Offset of $15.6 million after Quarter-end

To view the full ASX announcement, click here.

Source: Empire Energy Group

Today Chief Minister Natasha Fyles has announced a new Cabinet team as part of a renewed, refreshed and refocused Territory Government.

The Territory’s Cabinet team has the experience, energy and ideas to keep building the Territory’s future.

There are two new appointments to the Cabinet.

Member for Fannie Bay Brent Potter has been appointed Minister for Police, Minister for Fire and Emergency Services, and Minister for Veterans’ Affairs.

The second new appointment is Member for Johnston Joel Bowden. Mr Bowden will serve as Minister for Infrastructure, Planning and Logistics, Minister for Business and Jobs, Minister for Skills, Training and International Education, Minister for Tourism and Hospitality, and Minister for Recreational Fishing.

The full Ministry list is detailed below.

Quotes attributable to Chief Minister Natasha Fyles:

“My Cabinet team is renewed, refreshed and ready to work even harder for the Territory.

“I’ve chosen people and portfolios that I think best reflect the priorities of Territorians, which are my priorities.

“My priorities are growing the economy and creating more jobs, easing cost of living pressures, and making the Territory a safer place for all.

“My team will focus on those priorities every day. As we keep building the Territory’s future.”

MINISTRY LIST

Natasha Fyles

Chief Minister

Minister for Health

Minister for Alcohol Policy

Minister for Major Projects

Minister for Defence Industries

Minister for Major Events

Nicole Manison

Deputy Chief Minister

Minister for Industry and Trade

Minister for Renewables and Energy

Minister for Mining

Minister for Agribusiness and Fisheries

Minister for Essential Services

Eva Lawler

Treasurer

Minister for Education

Minister for Territory Development

Chansey Peach

Leader of Government Business

Attorney-General and Minister for Justice

Minister for Aboriginal Affairs and Treaty

Minister for Local Government

Minister for the Arts, Culture and Heritage

Selena Uibo

Minister for Remote Housing and Homelands

Minister for Parks and Rangers

Minister for Local Decision Making

Minister for Public Employment

Minister for Corporate and Digital Development

Kate Worden

Minister for the Environment, Climate Change and Water Security

Minister for Mental Health and Suicide Prevention

Minister for Prevention of Domestic, Family and Sexual Violence

Minister for Sport                                                                                     

Ngaree Ah Kit

Minister for Territory Families

Minister for Urban Housing

Minister for Youth, Seniors, and Equality

Minister for Multicultural Affairs

Minister for Disabilities

Brent Potter

Minister for Police

Minister for Fire and Emergency Services

Minister for Veterans’ Affairs

Joel Bowden

Minister of Infrastructure, Planning and Logistics

Minister for Business and Jobs

Minister for Skills, Training and International Education

Minister for Tourism and Hospitality

Minister for Recreational Fishing

Source: NT Government - Newsroom

EP 117 Operations Update: SS-1H DFIT results demonstrate over pressured regime, similar to the Tanumbirini wells

Highlights

• Results from the diagnostic fracture injection test (DFIT) of the Mid Velkerri B Shale in the Shenandoah South 1H (SS-1H) well have demonstrated an over pressured regime, with a pore pressure gradient of at least 0.54 pounds per square inch (psi) per foot, in line with results demonstrated at Tanumbirini (0.51 – 0.56 psi per foot).

• Results have been verified by third-party subsurface experts, Subsurface Dynamics, Inc.

• The results provide confidence that the upcoming flow test of the SS-1H well can replicate or exceed commercial flow tests achieved at the Tanumbirini 2H (T2H) and Tanumbirini 3H (T3H) wells in the Santos-operated EP 161 acreage.

• Condor have commenced the mobilisation of stimulation equipment to the SS-1H well pad ahead of the planned 10 stage stimulation program in November 2023. IP30 flow rate results are on track to be released in early Q1 2024, subject to the timing of stimulation fluid flow back.

• On the successful flow testing of SS-1H, Tamboran and the Beetaloo Joint Venture (BJV) expect to be in a position to sanction the proposed Pilot Development in the Shenandoah South region.

To view the full ASX announcement, click here.

Source: Tamboran Resources

Local exporters now have greater access to Austrade services and overseas networks following the appointment of Northern Territory based TradeStart advisor, Iain Forrest.

TradeStart is an extension of Austrade and brings the Northern Territory into a network of experienced advisors across Australia who provide practical export advice to enterprises to grow their international business.

Mr Forrest has previously worked for the NT Farmers Association and brings a wealth of business experience to the position.

Mr Forrest said he was extremely excited to commence in the role of TradeStart Advisor.

“I look forward to supporting Territory businesses to export to international markets. The NT produces world class products and services, I am proud to assist businesses to put our products on a global stage.”

“Enhancing the value of our NT export industry is key to helping the NT grow to a $40 billion economy by 2030. My focus will be to support a wide range of small to medium businesses to export and create jobs for locals.”

“As a born and raised Territorian, I am passionate about finding opportunities to export our unique Territory products and raising the profile of industry in the NT.”

Mr Forrest will assist Territory businesses develop their export capacity, increasing international trade which will help attract new investment and create local jobs.

TradeStart also provides an opportunity for the Territory Government to work more closely with other key agencies and stakeholders to better co-ordinate export assistance and maximise international success for Territory businesses.

You can get in touch with Iain on iain.forrest@nt.gov.au

Source: Business Bulletin 

Department of Industry, Tourism and Trade

Joint Media release with Prime Minister Anthony Albanese MP.

The Albanese Government has announced a $2 billion expansion in critical minerals financing, which will solidify Australia's position as a world leading provider, help the transition to net zero, boost the economy and support more jobs and opportunities for Australians.

Critical minerals, including rare earths, are the building-blocks for a clean energy future, and are essential to achieving Australia's energy transition. This significant commitment will double the capacity of the Critical Minerals Facility to finance Australian critical minerals mining and processing projects.

This expansion of the Critical Minerals Facility takes the Government's value-adding investments in Australian resources to $6 billion. Investing in critical minerals financing will bolster the sector in Australia, resulting in technology, skills, jobs and economic benefits for Australians.

Prime Minister Albanese and Resources Minister Madeleine King announced the $2 billion expansion, surrounded by Australian and US industry leaders, after the inaugural meeting of the Australia-United States Taskforce on Critical Minerals.

This Taskforce is an important component of building our Alliance with the United States for the future and delivers on commitments made by President Biden and Prime Minister Albanese at Hiroshima earlier this year.

A sustainable and reliable supply of critical minerals is vital to supporting the Australian and United States' manufacturing sectors. Australia is ideally positioned to provide responsibly-produced and processed critical minerals to fulfil this demand.

Working with international partners is essential for Australia to deliver on emissions reduction targets, decarbonise our economy and build our clean energy industries.

Cooperation with the United States on critical minerals is central to the Climate, Critical Minerals and Clean Energy Transformation Compact. The Compact affirms the position of climate and clean energy as the third pillar of Australia's alliance with the United States.

The expanded Critical Minerals Facility supports the Australian Government's Critical Minerals Strategy 2023-2030.

Quotes attributable to Prime Minister Anthony Albanese:

"My Government is committed to transforming Australia into a renewable energy superpower, and harnessing the critical minerals we have at home is crucial to achieving this.

"Australians will benefit through this investment in critical minerals, through technology, skills, jobs and economic gains.

"Australia is committed to building sustainable and secure critical minerals supply chains with the United States. This is central to building a clean energy future and delivering economic growth.

"The expansion of the Critical Minerals Facility will help to build supply chains with the United States and support our shared clean energy, manufacturing and defence ambitions."

Quotes attributable to Resources Minister Madeleine King:

"The Australia-United States Taskforce on Critical Minerals will be a key part of progressing our work under the Compact. This week we agreed on priority areas of work and immediate actions such as joint supply chain mapping and deeper cooperation between our science agencies on critical minerals.

"The road to net zero runs through Australia's resources sector.

"The Australian Government is providing significant support to de-risk investment in Australia's critical minerals sector. The Critical Minerals Facility is a cornerstone of that support, providing finance to strategically significant projects which can crowd in private investment.

"Coupled with our support for processing, we are well positioned to be a world leading provider of critical minerals, including rare earths elements, and to support global efforts on clean energy transformation."

Source:

The Hon Madeleine King MP

Minister for Resources and Minister for Northern Australia

The Territory Labor Government continues to deliver the Northern Territory’s ambitious response to climate change.

Minister for Environment, Climate Change and Water Security Lauren Moss has tabled the third annual progress report highlighting significant progress made in our commitment to reach net zero emissions by 2050.

The Territory Labor Government has also committed to reducing its operational greenhouse gas emissions by 47% by 2030 - an unprecedented commitment for the Northern Territory Government, recognising the need to lead by example when it comes to emissions reduction and decarbonisation.

The Climate Change Response: Towards 2030 Annual Progress Report outlines key achievements in the past 12 months aimed at reducing greenhouse gas emissions, while pushing towards a 50 per cent renewable energy target by 2030.

Key achievements include:

• Continued progress to increase renewables including the $45 million Darwin-Katherine Battery Energy Storage system, known as the ‘big battery’ with all batteries installed earlier this year

• Continued implementation of the NT Electric Vehicle (EV) Strategy and plan with the uptake of EV’s tripling in the past 12 months with more than 300 electric vehicles registered in the NT

• Invested $5 million to expand the Territory’s hydrogen industry following the release of our NT Renewable Hydrogen Strategy and Renewable Hydrogen Master Plan and the development of the Darwin H2 Hub; and 

• Progressing establishment of the Middle Arm Sustainable Development Precinct, a contemporary precinct targeting renewable energy and energy transition, enabling existing and new industry to reach net zero goals.

The Climate Change Response recognises the opportunities that will come from emissions reduction and the transition to a low carbon future, while growing the economy in a sustainable way.

To learn more and view the latest climate change report visit climatechange.nt.gov.au

Quotes to attribute to Minister for Environment, Climate Change and Water Security Lauren Moss:

“Actions over the past three years have laid strong foundations to enable the Territory to progress economic growth, achieve our decarbonisation objectives and provide a platform to build our net zero future.

“Climate change remains one of the greatest global threats and the Territory Labor Government will continue to drive our transition to a low carbon future and harness opportunities to reduce emissions.

“The work certainly doesn’t stop, and I look forward to releasing further strategies for emissions reduction and climate adaptation for public consultation in the coming months.”

Source: NT Government Newsroom

The Department of Industry, Tourism and Trade (DITT) will be commencing an apprentice and trainee attraction campaign over the coming weeks.

Working with industry, the idea of the campaign is to attract and inspire potential apprentices and engage them in the training and apprenticeship system. The campaign will share short videos showing how other young Territorians, such as participants from DITT Training Awards, took their first steps to ‘build, create, grow’ their own careers.

Using TV ads and social media the campaign will be delivered in two parts commencing this week and into November, with a second burst in late January to early February. The call to action is to drive people to https://nt.gov.au/yourfuture.

Attracting apprentices and trainees is integral to ensuring the Territory maintains a skilled workforce that meets the current and future needs of Territory employers and all sectors.

For more information, click here. 

Follow these links to view to LinkedIn and Facebook campaigns.

Highlights

• During the quarter, Tamboran drilled and cemented the Shenandoah South 1H (SS1H) and Amungee NW 3H (A3H) wells within EP 117 and 98, respectively. The wells were drilled with the H&P super-spec FlexRig® Flex 3 rig and delivered significant improvements in drilling efficiency.

• The SS1H well successfully intersected 90 metres of high quality Mid Velkerri B Shale, the thickest section to date within the Beetaloo Basin depocentre. Logging of the shale formation indicated higher porosity and gas saturation relative to offset wells.

• The A3H well was successfully drilled and cemented in less than 18 days, the fastest well drilled to Total Depth (TD) with a horizontal section into the Mid Velkerri B Shale to date. The well was drilled ~20 days faster and ~30% lower cost than the A2H well from the same pad.

• Tamboran announced a 32 per cent increase in Beetaloo Basin unrisked 2C contingent gas resources to 2.0 TCF following the drilling of the Maverick 1V (M1V) well in EP 136.

• During the quarter, Tamboran signed six Letters of Intent (LOIs) with Australia’s largest gas and energy retailers for 600 – 875 TJ per day (220 – 320 PJ per annum) for up to 10 – 15 years, demonstrating long term domestic demand for Beetaloo Basin gas supplies.

• In October, Tamboran announced the intention to re-domicile to the United States by way of a Scheme of Arrangement (Scheme). Tamboran will remain listed on the ASX via CHESS depositary interests (CDIs) under the TBN ticker. 

• Tamboran commenced Concept Select engineering studies with Wood Group in relation to the Company’s proposed NTLNG development at Middle Arm.

• In September, Tamboran announced the appointments of Ms. Stephanie Reed and Mr. Ryan Dalton as Non-Executive Directors to the Board of Tamboran Resources Limited. 

At 30 September 2023, the Company had a cash balance of A$33.5 million.

To view the full ASX announcement, click here.

Source: Tamboran.com

The Territory Labor Government is investing in new recycling infrastructure projects with a new $1.5 million grant program, Circular Economy NT (CENT) opening for applications today.

CENT supports projects that create opportunities to grow the Territory economy by turning waste into a valuable commodity.

The new grant program was established to support the recycling industry including infrastructure expansions or upgrades to address gaps within the Territory’s waste recycling and reprocessing capabilities.

CENT is focused on building a stronger onshore recycling and manufacturing industry whilst simultaneously addressing the Northern Territory’s regional and remote waste challenges.

Eligible projects include those that create or improve recycling, reuse or remanufacturing of waste currently going to landfill.

The fund aims to prioritise two waste streams: C&D (construction and demolition) and FOGO (food organics and garden organics) but will also accept applications for projects addressing C&I (commercial and industrial) and E-waste (electronic waste including PV Solar Panels).

Projects need to demonstrate economic development opportunities through the development of new domestic markets for recycled materials.

Adopting new approaches to the way we reprocess waste will create significant economic and environmental benefits for all Territorians.

Grants of a minimum of $50,000 are available for approved projects with 50:50
co-contribution required from applicants.

Applications close Friday 5 January 2024 and will be assessed on a competitive basis. For further information and to apply visit nt.gov.au/CENT

Quotes from Minister for Environment, Climate Change and Water Security Lauren Moss:

“The Circular Economy NT (CENT) grant program provides an opportunity for businesses, industry and government to work together to reduce waste and lay a foundation for an efficient and modern recycling industry in the Territory.

“Investing in efficient waste management systems is crucial for the environment and a priority of the Territory Labor Government.

“Proper waste management not only reduces the negative impact on the environment but also helps to cut costs and increase efficiency.”

Source: NT Government Newsroom