Highlights
- During the quarter, Tamboran delivered record Beetaloo Basin IP30, 60 and 90 flow testing from the Shenandoah South 2H sidetrack (SS-2H ST1) over a 5,483-foot stimulated horizontal within the Mid Velkerri B Shale.
- Over the last 30 days of the production test, flow rates from the SS-2H ST1 well increased by ~2% without any downhole intervention and maintaining a 44/64” choke.
- In July 2025, Tamboran commenced the largest drilling program in the Beetaloo Basin to date. The program includes three batch drilled wells (SS-4H, -5H and -6H), each with a 10,000-foot horizontal section.
- The SS-4H and -5H wells have been successfully drilled to target depth (TD), while the SS-6H well is preparing to commence building the curve and drilling the horizontal section. The program is currently in line with timeline and budget.
- Tamboran agreed terms with Native Title Holders to avoid flaring and received consent to sell appraisal gas from the proposed Shenandoah South Pilot Project over a three-year period. Subsequently, the Northern Territory Government (NTG) approved the sale of appraisal gas under the Beneficial Use of Gas (BUG) Legislation.
- Tamboran commenced the formal farmout process of the ~400,000-acre Phase 2 Development Area with RBC Capital Markets. Updates will be provided to the market at the appropriate time.
- In July 2025, Mr. Dick Stoneburner was appointed interim CEO and will serve as Chair and interim CEO until a new successor is named. This follows former CEO and Managing Director, Mr. Joel Riddle stepping down.
- Mr. Scott Sheffield and Mr. Phillip Pace were appointed as Non-Executive Directors of Tamboran. Mr. John Bell Sr. stepped down from Tamboran’s Board of Directors.
- As of June 30, 2025, the Company had a cash balance of US$45.2 million, with expected future receivables of ~US$26 million from proceeds from Tranche 2 of PIPE Transaction and DWE acreage sale.
Source : Tamboran Resources Corporation
View 4Q Activity Report
View 4Q FY25 Result Presentation
