2022 Annual Report
Sydney, Sep 29, 2022 AEST (ABN Newswire) - Tamboran Resources Limited (ASX:TBN) (TBNNY:OTCMKTS) has had an exciting first year as a listed company on the ASX as we progressed our activities towards the drilling of our first operated wells within the Beetaloo Basin.
Over the last twelve months, Tamboran has built a strong team with deep knowledge in unconventional shale drilling. Having this expertise has been invaluable as we prepared for the drilling of the M1V well in our 100 per cent owned and operated EP 136 permit, which spudded in mid-September 2022. This will also support our efforts in drilling two Amungee wells in the recently acquired Origin acreage, which are expected to commence in October 2022.
In August 2021, we announced the appointment of Faron Thibodeaux as Chief Operating Officer. Faron is an unconventional drilling expert, having previously served as Senior Vice President for Global Drilling, Completions and Production Engineering at Apache Corporation.
Faron brings with him a team of unconventional technical and operating professionals, with a background of having drilled more than 5,000 unconventional horizontal shale wells in North America.
We also appointed Dr David Close to the role of Vice President of Operations and External Affairs. David formerly served at both Origin Energy and Santos, with a focus on their Beetaloo Basin assets, and has been involved with many exploration programs within the basin over the last decade.
We believe the team has the expertise to unlock the vast low-CO2 gas resources within the Beetaloo Basin over the coming years.
During the first half of financial year 2022, our partner and operator of EP 161, Santos, completed drilling the T2H and T3H wells within the deeper Beetaloo acreage, which contains an estimated 49 TCF of gross prospective gas resources (12.3 TCF net to Tamboran).
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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.
Tamboran Resources Limited