Upgrade to T2H and T3H Flow Test Results
Sydney, Mar 21, 2022 AEST (ABN Newswire) - Tamboran Resources Limited (ASX:TBN) provides an operational update: Approximately 17 per cent upward revision to Tanumbirini 2H and 3H flow test results.
- Santos QNT Limited ("Santos"), the operator of EP 161 permit within the Beetaloo Sub-basin, has advised of an approximately 17% increase to the previously reported gas flow rates from Tanumbirini 2H ("T2H") and 3H ("T3H").
- This follows a recalibration of the historic flow data as reported on 1 February 2022, which now indicate the average gas flow rates from T2H and T3H were 2.0 million standard cubic feet per day ("mmscfd") (normalised at 3.0 mmscfd over 1,000-metres) and 1.7 mmscfd (normalised at 2.9 mmscfd over 1,000-metres) respectively.
- Further market updates on T2H and T3H are anticipated following the installation of tubing during the second quarter of calendar year 2022.
Tamboran Resources Limited (ASX:TBN) Managing Director and CEO, Joel Riddle, said:
"During the course of flow testing, the T2H and T3H wells representative gas samples from the Velkerri "B" shale interval were acquired. Compositional analysis was completed on these samples confirming the presence of high-quality gas in both wells. Well test gas rates have been updated based on these analyses.
"The revised flow rate data has resulted in an approximately 17 per cent increase to the 14-day average gas flow rate for the T2H well to 3.0 mmscfd and in the ten-day average gas flow rate for the T3H well to 2.9 mmscfd, normalised over a 1,000-metre horizontal section.
"The T2H well has continued to undergo flow testing during March 2022, with the 60-day average flow rate showing minimal decline, delivering 1.8 mmscfd over the stimulated 660-metre lateral section, normalised at 2.7 mmscfd over 1,000-metres.
"Flow testing at this rate from the fracture stimulation program gives us increased confidence in the productivity and has not changed our understanding of the commerciality of the Mid-Velkerri "B" shale within the Beetaloo Sub-basin of the Northern Territory.
"The T3H well was shut-in during mid-February 2022 to record surface pressure build-up data and to run a production tubing string to optimise well performance. The operator is assessing the potential to run production tubing in the T2H well in the second quarter of calendar year 2022.
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About Tamboran Resources Limited
Tamboran Resources Ltd (ASX:TBN) is a natural gas company that intends to play a constructive role in the global energy transition towards a lower carbon future by developing low CO2 unconventional natural gas resources in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. Tamboran's key assets are a 25% working interest in EP 161 and a 100% working interest in EP 136, EP 143 and EP(A) 197 which are located in the Beetaloo Sub-basin.
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