Tamboran Resources Corporation · NYSE:TBN
Tamboran Resources — Corporate Update (September 2023)
34 slides from Tamboran Resources's corporate update, Sep 11, 2023
Slide 1: Building a 1.5 BCFD low-cost Beetaloo Basin gas development by 2030
For personal use only Building a 1.5 BCFD low-cost Beetaloo Basin gas development by 2030 Beetaloo Basin Site Tour | September 2023 1 ASX: TBN, US OTC: TBNNY SHENANDOAH SOUTH WELLPAD, NORTHERN TERRITORY, AUSTRALIA
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Tamboran Resources Limited (Tamboran). The information in this presentation is information of a general nature and is subject to change without notice. This presentation contains information in a summary form only and should be read in conjunction wi
Slide 3: Tamboran Resources – Emerging next generation E&P company
Tamboran Resources – Emerging next generation E&P company Our role in the energy transition 65 140 For personal use only Our Vision 44 Estimated LNG trade volume To play a role in the global energy transition by in 20303 responsibly investing in the development of (million tonnes per annum) low-rese
Slide 4: Sustainability highlights
Sustainability highlights Focused on partnering with NT communities to bring new opportunities and a sustainable future Community For personal use only − >$100,000 invested in community contribution to sporting, cultural and other initiatives. − Local presence in Elliott to accelerate development op
Slide 5: Developing the Beetaloo is a transformational opportunity for the Northern Territory
Developing the Beetaloo is a transformational opportunity for the Northern Territory Delivery of job opportunities and material future royalty payments to the region For personal use only Under Tamboran’s 2030 proposed plan to deliver >1.5 BCFD1 from the Beetaloo Basin, the Northern Territory is exp
Slide 6: Tamboran Resources overview
Tamboran Resources overview Key operator of ~4.7 million gross acres of world class Beetaloo Basin shale play Tamboran Resources Limited (as at close 07 September 2023) Tamboran’s Beetaloo Basin acreage position – 4.7 million acres (gross) For personal use only Stock code: TBN (ASX), TBNNY (OTC) Sha
Slide 7: Northern Territory domestic gas market
Northern Territory domestic gas market Declining Blacktip production impacting NT gas market Blacktip gas production1 For personal use only 120 Daily Volume (TJ per day) 100 New Blacktip well and workover campaign 80 60 40 20 - 2019 2020 2021 2022 2023 − ~50 – 65 TJ per day of NT gas demand mostly s
Slide 8: Australia's East Coast gas market
Australia’s East Coast gas market ~450 mmscfd shortfall forecast by 2028, increasing to 1,000 mmscfd by 20311 East Coast gas market supply/demand1 For personal use only − Australia’s East Coast gas market 1.8 Tamboran planning to commence large scale (>500 requires significant investment in new mmsc
Slide 9: Global LNG markets
Global LNG markets >30 MTPA shortfall forecast by 2030, increasing to 75 MTPA by 20321 For personal use only Global LNG supply/demand forecast1 − The global LNG market is expected to be 700 >30 MTPA short by 2030 due to: Tamboran targeting to commence proposed 6.6 MTPA development in 20302 o lack of
Slide 10: Tamboran's strategy
Tamboran’s strategy Focused on growing Beetaloo Basin gas production to >1.5 BCFD by 20301 to NT, East Coast and Asia Pacific markets For personal use only Phase 3 – LNG / − Additional wells to develop LNG upside at Middle Arm (via new NTLNG trains or tolling) or Hydrogen (2035+) Australia’s East Co
Slide 11: Upcoming activities
Upcoming activities SS1H stimulation and IP30 flow rates expected to support sanctioning of proposed Pilot Development1 H&P rig drilling SS1H well on EP 117. For personal use only Preparing to undertake 10 stage, 500-metre stimulation program at SS1H during Q4 2023. IP30 flow rates planned for early
Slide 12: Scale of Tamboran's consolidated acreage on par with the US Marcellus Shale
Scale of Tamboran’s consolidated acreage in Beetaloo Basin on par with the US Marcellus Shale Tamboran’s continuous Beetaloo Basin acreage equivalent to entire Marcellus gas window acreage (>25 BCFD1) For personal use only Marcellus delivers >25 BCFD1 LEGEND “Core” Marcellus Marcellus Basin1 Greater
Slide 13: Beetaloo Basin - continuous high quality subsurface resource over ~5 million acres
Beetaloo Basin - continuous high quality subsurface resource over ~5 million acres Rock qualities closely resemble the US’ most prolific gas resource in the Marcellus Basin 80% more gas per square mile For personal use only ~50% deeper in EP 161 ‘Core’ Beetaloo A’ EP 76 EP 98 EP 136 Equivalent effec
Slide 14: Recent well performance confirming Tamboran's 'core' Beetaloo focus
Recent well performance confirming Tamboran’s ‘core’ Beetaloo focus SS1H demonstrated 1-million-acre prospective development area with high-quality shale T3H For personal use only T2H Amungee Area − Mid Velkerri B Shale (2,440-metre depth, 0.44 − Mid Velkerri B psi/ft pressure gradient). Shale (3,40
Slide 15: Recent Beetaloo Basin flow tests
Recent Beetaloo Basin flow tests Testing demonstrates greater well productivity at depth within Beetaloo Basin Beetaloo Basin IP30 Flow Rates For personal use only − Three key flow tests over the T3H1: last 12 months have Stimulation length: 600 metres T3H (10 stages) 5.2 Depth: 3,400-metre depth de
Slide 16: 'Core' Beetaloo well performance consistent with Marcellus Basin wells
‘Core’ Beetaloo well performance at EP 161 consistent with Marcellus Basin wells Independently verified analysis indicates 20-year EUR of 16.8 – 18.5 BCF1 for assumed development well at Tanumbirini Beetaloo Basin (Northern Territory, Australia) Tanumbirini 2H Tanumbirini 3H For personal use only St
Slide 17: Shenandoah South 1H (EP 117)
Shenandoah South 1H (EP 117) Intersected 90 metres of high quality Mid Velkerri B Shale, thickest section in the Beetaloo depocenter1 to date A A’ − Drilled with recently imported For personal use only Amungee NW1 Shenandoah S1 Beetaloo W1 Velkerri S2 1 Maverick 1 Tanumbirini 1 Depth (mTVD) H&P supe
Slide 18: Tamboran to focus development on 'core' Beetaloo
Tamboran to focus development on ‘core’ Beetaloo Three well upcoming work program to delineate ~17 TCF (gross) 2C contingent gas resources1 across ‘core’ region For personal use only − Regional analysis post-acquisition and evaluation of EP 161 flow tests validates Tamboran’s plan on targeting deepe
Slide 19: H&P and Tamboran Strategic Alliance
H&P and Tamboran Strategic Alliance Rig imported into Beetaloo Basin and currently drilling Shenandoah South 1H For personal use only − Tamboran / H&P Strategic alliance to import a modern US unconventional drilling rigs into the Beetaloo. − H&P aligned with Tamboran via $22 million strategic invest
Slide 20: Latest wells proving operational capability and transfer of US shale technology
Latest wells proving operational capability and transfer of US shale technology SS1H drilled 3,300 metres in 21.5 days, a daily average record with hole sized suited to run 5 ½ inch casing1 Time (Days) For personal use only - 20 40 60 80 100 120 140 − H&P’s super spec FlexRig® Flex 3 rig has - alrea
Slide 21: Significant environmental benefits of using larger drill rigs
Significant environmental benefits of using larger drill rigs Well spacing increases to 6 km (previously 2 km) – equivalent distance of Opera House to Bondi Beach Beetaloo production wells are expected to have For personal use only Using larger rigs means gas wells are a footprint similar to a baske
Slide 22: Tamboran's Strategic Midstream Partnership with APA Group
Tamboran’s Strategic Midstream Partnership with APA Group (June 2023) APA selected as Tamboran’s transmission pipeline partner to support the Beetaloo Basin development For personal use only Strategic midstream partnership with APA Group Darwin − APA Group (ASX: APA) and Tamboran have signed a term
Slide 23: Multiple pathways to commercialise Beetaloo Basin gas
Multiple pathways to commercialise Beetaloo Basin gas Oversized 42-inch pipeline would enable development of Beetaloo feed gas to supply additional Middle Arm projects For personal use only Middle Arm Sustainable Development Precinct Blue Hydrogen Blue Ammonia and Urea/Fertilizer Pathway #1 Brownfie
Slide 24: Beetaloo Basin provides an opportunity to future proof East Coast gas supply
Beetaloo Basin provides an opportunity to future proof East Coast gas supply Expressions of interest from six potential buyers for up to 600 – 875 TJ per day demonstrates LT gas supply requirements − Tamboran has secured separate non-binding letters of intent (LOIs) with six of For personal use only
Slide 25: Tamboran's proposed NT LNG Project at Middle Arm
Tamboran’s proposed NT LNG Project at Middle Arm Proposed NTLNG project leading Australia’s third wave of LNG, focused on supporting Asia Pacific energy transition1 Location LNG Capacity Marine For personal use only Northern Territory Concept Select phase Federal Government Government awarded to uti
Slide 26: Site for proposed NTLNG site at Middle Arm Sustainable District awarded to Tamboran
Site for proposed NTLNG site at Middle Arm Sustainable District awarded to Tamboran1 Targeting first fully integrated LNG development in onshore Northern Australia − Northern Territory Government awarded Tamboran a 170-hectare (~420 acre) site at Middle Arm Sustainable Development Precinct (MASDP),
Slide 27: Australian Government's new GHG regulations and Net Zero Scope 1 rules
Australian Government’s new GHG regulations and Net Zero Scope 1 rules on the Beetaloo Basin First regulated Net Zero Scope 1 gas development in the world − Australian Government’s Safeguard Mechanism establishes “GHG Tamboran's Beetaloo Basin asset is has low reservoir CO2 For personal use only com
Slide 28: The Beetaloo – Significant emissions reduction opportunity for Australia
The Beetaloo – Significant emissions reduction opportunity for Australia Tamboran’s business model to deliver first commercial gas with Net Zero Scope 1 and 2 emissions1 Potential for ~60 million tonnes CO2e per annum reduction in global emissions if 3 BCFD of low-reservoir CO2 For personal use only
Slide 29: Appendix A: Additional Information
Appendix A: Additional Information For personal use only 29
Slide 30: Tamboran's Board of Directors
Tamboran’s Board of Directors Deep technical knowledge and track record in early-stage E&P success For personal use only Dick Stoneburner Joel Riddle Fred Barrett Patrick Elliott Chairman Managing Director and CEO Non-Executive Director Non-Executive Director − Over 35 years’ experience in petroleum
Slide 31: Appendix B: Resource disclosures
Appendix B: Resource disclosures For personal use only 31
Slide 32: NSAI estimates of contingent gas resources
NSAI estimates of contingent gas resources 1.5 TCF 2C contingent gas resources1 and 148 TCF 2U prospective gas resources2,3 For personal use only Contingent Gas Resources Unrisked Prospective Gas Resources Low Estimate Best Estimate High Estimate Low Estimate Best Estimate High Estimate (1C) (2C) (3
Slide 33: Resources statement
Resources statement For personal use only The estimates of contingent and prospective gas resources in the permits contained in the announcement were prepared by Netherland, Sewell & Associates, Inc., qualified resource evaluators. The resource assessment was independently carried out by John G. Hat
Slide 34: For personal use only
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