Past year: ▲ 26%(18.5c – 31.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Sept 2022annual report● Neutral
2022 annual report for the year to 30 June. The chairman's letter says three wells are planned for the rest of 2022: Maverick 1V, then two Amungee horizontals in the Origin-acquired EP 98. Notes four wells flow tested in the year; financial figures are not in the extract.
29 Sept 2022admin correction● Neutral
Appendix 4G confirming the corporate governance statement for the year to 30 June 2022 is accurate as at 28 September 2022 and board-approved. Administrative key to governance disclosures; no new operational or financial information.
29 Sept 2022other● Neutral
2022 Corporate Governance Statement describing the board's practices against ASX principles for the year to 30 June 2022. Administrative; no new operational or financial information.
23 Sept 2022capital raising announcement● Neutral
Share Purchase Plan offer booklet released: eligible shareholders can apply for up to $30,000 of shares, on the terms set out in the 20 September announcement. Offer closes 7 October 2022 unless extended. Follows the placement.
20 Sept 2022asset acquisition disposition▲ GoodMajor
Tamboran and Bryan Sheffield will each take 50% of Origin's 77.5% in Beetaloo permits EP 98, 117 and 76 for $60M plus a royalty, with a 10-year Origin gas sales deal. Funded by a placement of up to $138M at $0.21; second tranche needs a 25 October vote. Resolves the funding need.
20 Sept 2022other● Neutral
Notice of a webcast on 21 September at 9:00am AEST, led by CEO Joel Riddle, on the Origin asset acquisition and ~$195M funding package. Administrative; no new information.
20 Sept 2022material agreement▲ GoodMajor
Helmerich & Payne takes a $22M (US$15M) stake in the placement and signs a two-year contract for a super-spec FlexRig for the 2023 drilling campaign, with a right of first refusal on later rigs until 2033. Supports sanction of the Amungee pilot by end-2023.
20 Sept 2022listing compliance notice● Neutral
ASX notice that the trading suspension will lift once Tamboran releases its announcement on the capital raise and Origin asset acquisition. Administrative; ends the 19 September suspension.
20 Sept 2022investor presentation● Neutral
Presentation supporting the Origin asset acquisition and up to ~$195M funding package, restating the 38.75% interest in the new permits, ~1.9M net acres and ~1.5 TCF net 2C. Repeats the same-day announcement; no new terms are evident in the extract.
19 Sept 2022listing compliance notice● NeutralMajor
Tamboran's shares were suspended at its own request on 19 September pending announcement of a capital raising, after a 15 September trading halt. Suspension is to end on the outcome announcement, expected by 21 September.
6 Sept 2022investor presentation● Neutral
Good Oil Conference presentation restating strategy of reaching ~1 BCFD by 2028-30, ~31 TCF net prospective resource, and sanction of the 100 mmscfd pilot by end-2023. Quotes a $0.245 share price and $26.8M cash. No new results.
5 Sept 2022resource reserve update▲ GoodMajor
NSAI-certified EP 161 net contingent resources rose: 2C up 164% to 404 BCF (from 153 BCF) and 1C up 73% to 83 BCF. Gross 2C is 1.6 TCF. Builds on the February 2022 upgrade, driven by the extended flow tests and updated development plan.
5 Sept 2022flow test result▲ GoodMajor
Tanumbirini 3H averaged 3.1 mmscfd and 2H 2.1 mmscfd over 30 days after tubing (5.2 and 3.3 normalised per 1,000 m), which Tamboran says exceed its commerciality threshold. Both are declining as expected; 90-day rates due Q4 2022. Resolves the 30-day results thread.
24 Aug 2022investor presentation● Neutral
SEAAOC conference presentation restating the Tanumbirini results (4.3 and 7.4 mmscfd normalised), which the company says exceed its 3.0 mmscfd per 1,000 m commerciality threshold. Maverick 1H still due to spud early September; fracture stimulation planned Q1 2023. No new results.
15 Aug 2022flow test result▲ GoodMajor
After production tubing was installed, Tanumbirini 3H averaged 4.4 mmscfd over eight days (7.4 normalised per 1,000 m, peak 9.1) and 2H 2.8 (4.3 normalised). Up from January rates, and T3H is the highest sustained rate in the basin so far. Resolves the shut-in thread.
12 Aug 2022regulatory community update▲ GoodMajor
Northern Territory approved Tamboran's Environmental Management Plan for up to seven wells in EP 136, the final approval needed for Maverick 1H, due to spud in early September. Resolves the pending approval; Maverick 2H and 3H are planned for 2023.
3 Aug 2022regulatory community update▲ GoodMajor
The NT Supreme Court dismissed Rallen's stay application, so Tamboran can continue its 2022 drilling plans; it will seek legal cost recovery. Rig mobilising, Maverick 1H spud expected early September, with 30-day flow rates expected by end of Q1 2023.
27 June 2022material agreement▲ GoodMajor
Binding MOU with Jemena for ~100 TJ/day of firm Northern Gas Pipeline capacity for the Maverick Pilot Development, advancing the earlier Jemena framework. Sanction is planned end-2023 if three EP 136 wells deliver ~1 TCF of 2C resource; first production targeted end-2025.
27 June 2022regulatory community update● Neutral
Tamboran started 85 km of 2D seismic and civil works in EP 136, with Maverick 1H still targeted for Q3 2022. Pastoral leaseholder Rallen's Supreme Court appeal was heard 21 June, and Rallen has now sought an injunction; work continues.
22 June 2022investor presentation● Neutral
June 2022 Gold Coast showcase presentation restating the ~31 TCF prospective resource, a target of over 1 TCF of 2P reserves by end-2023, and $55.4M cash. Quotes a $0.210 share price. No new results.
26 May 2022other● Neutral
Tamboran launched a sponsored American Depository Receipt program on the US over-the-counter market from 26 May 2022 (ticker TBNNY, 1 ADR to 50 ordinary shares, BNY Mellon as depositary). It aims to widen the US investor base.
17 May 2022other● Neutral
Notice that 2,819,290 unlisted options are released from restricted access on 18 May 2022; the notice states these options have now expired. Administrative notice.
13 May 2022other● Neutral
Notice that 3,095,475 shares will be released from restricted access on 21 May 2022. Issued capital does not change. Administrative notice.
5 May 2022drilling scheduled▲ GoodMajor
Tamboran contracted Ensign Rig 970 to spud Maverick 1H in its 100%-owned EP 136 in Q3 2022, subject to final environmental approval. Seismic cut from 250 km to ~90 km, and a tribunal land access ruling for Tanumbirini Station lets 2022 work proceed. Pastoral appeals continue.
23 Mar 2022investor presentation● Neutral
March 2022 investor presentation restating the ~31 TCF prospective resource, Maverick pilot plans and first gas target of end-2025. Quotes a share price of $0.215 and $68.2M cash. No new results.
21 Mar 2022flow test result▲ Good
Santos recalibrated the flow data after gas sample analysis, lifting reported rates about 17%: T2H to 2.0 mmscfd (3.0 normalised) and T3H to 1.7 mmscfd (2.9). T2H's 60-day average is 1.8 mmscfd; T3H is shut in until tubing is installed in Q2.
14 Mar 2022half year report● Neutral
Half-year report to 31 December 2021: loss of $4.91M, versus $7.99M a year earlier. Reviews the Tanumbirini drilling and Maverick 1H planning; no new information beyond earlier announcements.
7 Mar 2022material agreement▲ GoodMajor
Tamboran's Sweetpea subsidiary won a Commonwealth grant of up to $7.5M, covering up to 25% of drilling, fracture stimulation and flow testing of Maverick 1H in EP 136. Well still planned for mid-2022; funding needs regulatory approvals first.
1 Feb 2022resource reserve update▲ GoodMajor
NSAI-certified EP 161 contingent resources rose: 2C up 428% to 153 BCF net (610 BCF gross) and 1C up 336% to 48 BCF net. This delivers the resource booking flagged for the March quarter; covers about 0.9% of the permit area.
1 Feb 2022flow test result● NeutralMajor
First 30-day flow results from Tanumbirini wells: T2H stabilised at 1.7 mmscfd (2.6 normalised per 1,000 m) and T3H at 1.5 mmscfd (2.5 normalised), peaking at 4.0 and 10.0. Resolves the pending rates; Tamboran's model says over 5 mmscfd per 1,000 m is achievable.
