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Tamboran Resources Limited (TBNRF) EP 98 Operational Update
Sydney, Australia (ABN Newswire) - Tamboran Resources Limited (ASX:TBN) (OTCMKTS:TBNRF) report th...
About this update from Falcon Oil & Gas Ltd.
[{"type":"text","content":"Tamboran Resources Limited (TBNRF) EP 98 Operational Update\n \n Sydney, Australia (ABN Newswire) - Tamboran Resources Limited (ASX:TBN) (OTCMKTS:TBNRF) report that the Amungee 2H (A2H) in EP 98 was successfully drilled to a total depth (TD) of 3,883 metres, including a 1,275-metre horizontal section, which was placed in the most prospective zone within the Mid-Velkerri \"B Shale\" formation. The well encountered significant gas shows within the Mid-Velkerri \"B Shale\" formation, in line with pre-drill expectations.\n \n \n The A2H well has been drilled and cased with 5-1/2 inch casing, the optimal casing size to place a high intensity stimulation and on par with modern US unconventional drilling designs.\n \n \n The well was drilled in 38 days (spud to TD) at a total cost of $14.1 million (excluding casing and cementing), slightly ahead of pre-drill design days and budget.\n \n \n Tamboran is planning up to 24 stimulation stages within the Mid-Velkerri \"B Shale\", expected to commence during the first quarter of calendar year 2023, subject to weather conditions.\n \n \n Tamboran is fully funding the drilling, stimulation and flow testing of the A2H well, in accordance with the Stage 3 farm-in agreement (FIA) between Tamboran and Falcon Oil & Gas Australia Limited (Falcon).\n \n \n A comprehensive review of all data across the recently acquired acreage is currently underway. Once finalised, the location of the second and final well of FIA will be selected.\n \n \n Tamboran Resources Limited Managing Director and CEO, Joel Riddle, said:\n \n \n \"We are pleased to have drilled and cased the A2H well ahead of budget and schedule. The well intersected the Mid-Velkerri 'B Shale' at 2,413 metres vertical depth, in line with pre-drill expectation. The well was drilled with a 1,275-metre horizontal section, which is planned to be stimulated with up to 24 stages during the first quarter of calendar year 2023, subject to weather conditions.\n \n \n \"The key objective of drilling, stimulating and flow testing the A2H well over the 1,275-metre horizontal section is to determine the gas deliverability of the Mid-Velkerri 'B Shale' in the deeper regions of the Beetaloo Basin. Importantly, the well was completed with 5-1/2 inch casing, on par with modern US unconventional drilling designs.\n \n \n \"From our team's experience in drilli...