Tamboran Resources Limited (TBNNY) EP 117 Operational Update Completion of SS-1H Stimulation
Tamboran Resources Limited (ASX:TBN) (OTCMKTS:TBNNY), on behalf of the Beetaloo Joint Venture (BJV), has successfully completed the 10-stage stimulation program over a 500-metre (1,640-foot) horizontal section of Mid-Velkerri B Shale within the Shenandoah South 1H (SS-1H) well in Beetaloo Basin permit EP 117.
The stimulation program at SS-1H delivered a proppant intensity of 2,212 pounds per foot (lb/ft) and achieved rates of 100 barrels per minute (bpm) using slickwater, a first in the Mid Velkerri B Shale and in-line with current US shale basin stimulation designs.
Tamboran plans to install production tubing ahead of the commencement of flow back of stimulation fluid and 30-day initial production (IP30) testing in mid-December 2023, subject to timing of gas breakthrough.
Tamboran Resources Limited (ASX:TBN) Managing Director and CEO, Joel Riddle, said:
"The operations team have done an excellent job in completing the stimulation program at the SS-1H well as expected. Thank you to our team and contractors for their efforts in completing the successful program.
"The operations went extremely well with the team achieving injection rates of up to 100 bpm, a Beetaloo Basin rate record, and average proppant injection per stage of 356,000 pounds, in line with our initial design. The team engineered a repeatable stimulation formula, which is a significant milestone for Tamboran that is expected to lead to more efficient and lower cost programs in the future.
"Most importantly, the success of the program positions us to announce IP30 flow rates during the first quarter of 2024, subject to timing to flow back stimulation fluid and weather conditions. Delivery of commercial flow rates is expected to allow us to progress towards the sanctioning of the proposed 40 MMcf/d Pilot Project at Shenandoah South during the first half of 2024."
Investor enquiries: Chris Morbey Vice President - Investor Relations +61-2-8330-6626 Investors@tamboran.com Media enquiries: +61 2 8330 6626 Media@tamboran.com
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