Past year: ▲ 26%(18.5c – 31.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
20 July 2026drilling progress report▲ GoodMajor
Stimulation of SS-3H, -4H and -5H finished: 178 stages over ~30,000 ft, the basin's largest campaign, and first local Beetaloo Red sand placed in SS-4H. Drilling of SS-7H, -8H and -9H has begun; first gas to the NT Government still targeted 3Q 2026. No flow results yet.
31 Mar 2026farm in farm out agreement▲ GoodMajor
Tamboran farms down about 10,000 acres across the Pilot Area and Beetaloo Central Development Area to Daly Waters Energy (DWE), for a staged earn-in of up to ~US$28.5M (US$11.6M Pilot carry, US$11.6M BCDA carry, up to US$5.3M milestone). Follows DWE's INPEX venture; needs conditions and Falcon closing.
15 Oct 2025drilling result▲ GoodMajor
Tamboran finished its three-well batch drilling program (SS-4H, -5H, -6H), the largest in the Beetaloo, each with a 10,000-foot lateral. Average 26.7 days spud to TD, within the 35-day forecast. SS-4H stimulation is planned for 4Q 2025, the other wells in 1H 2026.
7 Feb 2025drilling progress report▲ Good
SS-2H ST1 stimulation finished with 35 stages over 5,483 ft, a Beetaloo record average proppant intensity of 2,706 lb/ft (22% above SS-1H), fewer stages than the 43 planned. Clean-out and flow testing come next; SS-3H update to follow.
24 Jan 2025drilling progress report▲ Good
Stimulation began on SS-2H ST1 and SS-3H, planned at up to 119 stages (43 and 76) using Liberty's 80,000 HHP fleet, a first for the Beetaloo. This starts the Q1 2025 frac program flagged earlier; stage counts are above the earlier minimums.
23 Dec 2024drilling result▲ GoodMajor
SS-3H was drilled to 21,169 ft in 25 days, 10 days (43%) faster than SS-2H, with the first usable 10,000 ft horizontal below 8,000 ft TVD. Strong gas shows and no faulting seen. Liberty frac planned early Q1 2025 (100-120 stages); IP30 results still due Q1 2025.
18 Nov 2024drilling result▼ BadMajor
SS-2H ST1 was cased and suspended at 16,182 ft after a directional drilling tool failed, leaving a 5,906 ft horizontal, of which ~5,577 ft is to be stimulated. SS-3H drilling starts immediately, stimulation of at least 34 and 60 stages is planned for 1Q 2025, and IP30 results remain on track for 1Q 2025.
13 Nov 2024drilling result▼ BadMajor
SS-2H reached 20,669 ft in 35 days, but a downhole mechanical issue forced it to be plugged and sidetracked (SS-2H ST1, ~US$5M extra cost). Cash was US$74.0M, plus US$7.6M net from selling the US rig. IP30 results still expected Q1 2025.
30 Aug 2024drilling spud▲ GoodMajor
Tamboran spudded Shenandoah South 2H in EP 98, the first of two ~10,000-foot wells (SS-2H, then SS-3H) for the 40 MMcf/d Pilot, about 30 days each. Liberty's frac fleet is mobilised; flow results are expected Q1 2025, with first production H1 2026.
25 Mar 2024farm in farm out agreement▲ GoodMajor
Tamboran lifted its interest in the proposed Shenandoah South Pilot Project to at least 47.5% after Falcon limited its share to 5% in the second well pad (SS2) and the two 2024 wells. Tamboran and Daly Waters Energy pick up the rest, reaching 95% over 51,200 acres, and carry Falcon for up to A$3.75M gross.
26 Feb 2024resource reserve update▲ GoodMajor
First contingent resource booking for Shenandoah South lifted net 2C resources 8% to 2.1 Tcf (+152 Bcf; 1C up 33 Bcf to 491 Bcf net), certified by NSAI. It supports the 40 MMcf/d pilot, with first gas targeted for Q1 2026, subject to financing and approvals.
7 Dec 2023drilling progress report▲ Good
Stimulation of Shenandoah South 1H finished: 10 stages over 500 m, with a Beetaloo-record 100 bpm rate. Flow back and 30-day testing start mid-December; IP30 rates are expected in Q1 2024, feeding a first-half 2024 decision on the 40 MMcf/d pilot.
27 Nov 2023drilling progress report● Neutral
Stimulation began at Shenandoah South 1H: 10 stages over a 500 m section, expected to finish in December 2023. IP30 flow rates are still expected in Q1 2024. Note the stimulated length is shorter than the 1,074 m horizontal drilled. Results feed the 40 MMcf/d pilot decision.
16 Oct 2023drilling result▲ GoodMajor
Amungee 3H reached 3,837 m in 17.9 days, 20 days faster than Amungee 2H, with a 1,100 m horizontal and significant gas shows. Drilling cost was A$12.6M, ~30% below A2H. Stimulation is planned Q2 2024; Shenandoah South 1H stimulation starts November, IP30 results early 2024.
27 Sept 2023resource reserve update▲ GoodMajor
Tamboran booked its first contingent resource in 100%-owned EP 136 (2C 406 BCF) after Maverick 1V, and lifted EP 161 2C to 470 BCF. Company-wide 2C rises 32% to 2.0 TCF and 1C 37% to 458 BCF, NSAI-certified. Excludes Shenandoah South 1H results.
25 Sept 2023drilling spud● NeutralMajor
Drilling began on Amungee NW 3H in EP 98, from the same pad as Amungee 2H, using the H&P rig. It should take ~25 days with a 1,000 m horizontal; drilling and cementing is budgeted at A$14.4M (~A$5.6M net). Stimulation is planned for Q2 2024.
30 Aug 2023drilling result▲ GoodMajor
Shenandoah South 1H pilot hole reached 3,300 m, intersecting ~90 m of Mid Velkerri B Shale with strong dry gas shows, the thickest seen in the basin depocenter and ~20% thicker than Tanumbirini. A 1,000 m horizontal comes next, with stimulation in Q4 2023. Flow rates are not yet known.
25 Aug 2023farm in farm out completion▲ GoodMajor
Tamboran told Falcon that all farm-in commitments under the 2014 agreement are satisfied. Falcon remains carried for a net A$6.8M of future drilling (A$3.4M net to Tamboran). The EP 98/117 interest is 77.5% for Tamboran (B2), 22.5% Falcon. This completes the Falcon farm-in thread.
1 Aug 2023drilling spud▲ GoodMajor
Drilling began on Shenandoah South 1H in EP 117, aiming at the deeper Mid-Velkerri B Shale. It is expected to take ~45 days with a 1,000 m horizontal; stimulation is planned Q4 2023. Amungee 2H remedial work is planned later this year, subject to JV approval.
24 July 2023drilling scheduled▲ GoodMajor
The H&P FlexRig reached the Shenandoah South 1H site in EP 117. Drilling is expected to start early August 2023, subject to final JV approval, taking about 45 days with a 1,000 m horizontal, and stimulation in Q4 2023. Target is about 700 m deeper than Amungee 2H.
22 Mar 2023drilling progress report▲ Good
Amungee 2H stimulation completed: 25 stages over a 1,020 m horizontal, with about 55% more proppant per foot than Tanumbirini wells. Well cost to date is about $32M, within 5% of budget. Flowback is next; 30-day rates expected in Q2 2023.
16 Feb 2023drilling progress report▲ Good
Stimulation began at Amungee 2H, the company's first operated Beetaloo frac, with up to 24 stages over 1,200 m by Condor, planned over 2-3 weeks. Four-week flowback then tubing follows; 30-day flow rates expected early Q2 2023.
23 Dec 2022drilling result▲ GoodMajor
Amungee 2H reached 3,883 m total depth in 38 days, including a 1,275 m horizontal in the Mid-Velkerri B Shale, with gas shows as expected. Cost was $14.1M excluding casing and cementing, slightly under budget. Up to 24 frac stages are planned for Q1 2023.
10 Nov 2022drilling spud▲ GoodMajor
Amungee 2H spudded on 10 November in EP 98 (Tamboran 38.75% operator, Sheffield 38.75%, Falcon 22.5%), the first of two planned wells. Vertical to ~2,450 m, then a 1,000 m horizontal; fully funded by Tamboran under the Falcon farm-in.
12 Oct 2022farm in farm out agreement▲ GoodMajor
Falcon, holder of the other 22.5% of the Origin permits, agreed not to use its pre-emptive rights on the Origin purchase, in return for a partial extension of the carry under the farm-in, borne equally by Tamboran and Sheffield. Northern Territory approval is expected by end-October.
7 Oct 2022drilling result▲ GoodMajor
Maverick 1V, Tamboran's first operated Beetaloo well in 100%-owned EP 136, reached 3,050 m in 18.3 days, 54% faster than comparable wells, with strong gas shows in the Mid-Velkerri shales. Logs are next, then the well is suspended to prioritise the Amungee pilot.
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 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.
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.
29 Nov 2021drilling progress report▲ Good
T3H was cased and cemented, the rig demobilised, and the 2021 EP 161 drilling program completed without incident. Fracture stimulation of T2H and T3H (about 10 stages each) has started, with initial flow results expected in December 2021.
