Tamboran Resources Corporation (TBNNY) EP 98 Operational Update - SS-3H Drilled To Total Depth in 25 Days

Tamboran Resources Corporation's (ASX:TBN) (NYSE:TBN) (OTCMKTS:TBNNY) Shenandoah South 3H (SS-3H) well was successfully drilled, cased and cemented with 5-1/2- inch casing to a measured depth of 21,169 feet (6,452 metres) within Beetaloo Basin exploration permit EP 98.

The well was drilled in 25 days (spud to total depth (TD)) and achieved an average drilling rate of 843 feet per day, 10 days and 43% faster than the SS-2H well, the only well previously drilled to total depth of more than 20,000 feet. This follows the successful implementation of key lessons from wells drilled earlier in the 2024 campaign.

The SS-3H well is the first well drilled and cased with a useable 10,000-foot (3,048-metre) horizontal section below 8,000 feet true vertical depth (TVD) for stimulation in the Beetaloo Basin.

Data from the SS-3H well has demonstrated strong gas shows and a continuation of the highquality shale and rock properties observed in the Shenandoah region, including a gentle, undulating structure with no faulting observed along the ~10,000-foot (3,048-metre) section.

The Liberty Energy (NYSE:LBRT) stimulation equipment and sand has been mobilized to location ahead of a 100 - 120-stage stimulation campaign, which is planned to commence in early 1Q 2025.

The SS-2H ST1 well is planned to be stimulated with up to 45 stages following the casing of the horizontal section to 5,577 feet (1,700 metres). The SS-3H completion design is expected to increase up to 75 stimulated stages over the 10,000-foot section.

IP30 flow tests from both wells remain on track for release in 1Q 2025.

Tamboran Resources Corporation Managing Director and CEO, Joel Riddle, said:

"We are proud to have achieved the first drilled, cased and cemented 10,000-foot horizontal section below 8,000 feet TVD within the Mid Velkerri B Shale of the Beetaloo Basin to date. Importantly, we encountered strong gas shows and no observed faulting across the entire horizontal section, which continues to exhibit high-quality shale properties in line with the SS-1H drilling location three miles away.

"Drilling took a total of 25 days to reach TD, at an average drilling speed of 843 feet per day, which is 43% quicker than the drilling of the original SS-2H well, the only other well drilled to a similar total depth in the Beetaloo Basin to date.

"The operations team deserve full credit for delivering this historic result, which now gives us the opportunity to demonstrate flow testing over a full 10,000-foot horizontal section prior to finalizing the 2025 drilling program. Next years' program will focus on the remaining development wells required for the proposed Shenandoah South Pilot Project, which is expected to deliver much needed gas supply into the Northern Territory gas market."

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Investor enquiries:
Chris Morbey
Vice President - Investor Relations
+61-2-8330-6626
Investors@tamboran.com

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Media@tamboran.com

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