Tamboran Resources Corporation · NYSE:TBN
Tamboran Resources — Investor Presentation (March 2022)
26 slides from Tamboran Resources's investor presentation, Mar 23, 2022
Slide 1: Australian E&P targeting Net Zero gas production from the Beetaloo Sub-basin
For personal use only Australian E&P targeting Net Zero gas production from the Beetaloo Sub-basin March 2022 1 TANUMBIRINI WELL PAD, 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 at a glance
Tamboran Resources at a glance Focused strategy on developing ~31 TCF gas resources from the Beetaloo Basin, NT Australia For personal use only Target is to become a Focused Low-cost development Expertise in High-quality assets Net Zero emissions 'Core' Beetaloo targeting multiple markets, unconvent
Slide 4: Corporate overview
Tamboran Resources (ASX: TBN) Corporate overview For personal use only Tamboran Resources Limited (as at close 21 March 2022) Share price performance Stock code: TBN 0.45 14.0 0.40 12.0 Share Price (A$ per share) Shares on issue (m): 747.4 0.35 Volume (millions) 10.0 Share price ($ per share): 0.215
Slide 5: Tamboran's Six-Pillar Sustainability Plan
Tamboran’s Six-Pillar Sustainability Plan Sustainability is central to Tamboran’s corporate strategy For personal use only Partnering with local communities to share value through the Putting the health and safety of our people first. creation of local jobs and business opportunities. Health & Safet
Slide 6: Tamboran's Board of Directors and key management
Tamboran’s Board of Directors and key management Deep Technical Knowledge and track record in early-stage E&P success For personal use only Dick Stoneburner Dan Chandra Chairman Non-Executive Director − Over 35 years’ experience in petroleum geology. − Over 17 years’ investing experience across a ra
Slide 7: Vision to develop a ~1 BCF per day, low-cost gas business
Tamboran’s vision is to develop a ~1 BCF per day, low-cost gas business Focused on accelerating commercialisation of the “World Class” Beetaloo Sub-basin For personal use only Tamboran aims to supply gas to the East Coast gas and Pathway to revenue of ~$3 billion1 per annum global LNG markets in 202
Slide 8: Macro factors favourable to realising Tamboran's vision
Macro factors favourable to realising Tamboran’s vision Gas shortage, decarbonisation and energy security are calling for low-CO2 Beetaloo gas For personal use only Macro factors supportive to Beetaloo gas development Looming gas market shortfall in the East Coast East Coast gas supply/demand foreca
Slide 9: The Beetaloo – Potential to supply Australia and Asia-Pacific for > 50 years
The Beetaloo – Potential to supply Australia and Asia-Pacific for > 50 years More than 100 TCF recoverable gas resources with multiple pathways to market For personal use only “World Class” Shale Basin − Similar scale (>75 TCF) and high-quality reservoir properties to Marcellus Shale in Pennsylvania
Slide 10: Tamboran's Focus - Mid-Velkerri B shale in Core Beetaloo
Tamboran’s Focus - Mid-Velkerri “B” shale in ‘Core’ Beetaloo Deep technical understanding of regional geology has driven Tamboran’s focused strategy For personal use only Map Key Gas Pipeline Highway − >31 TCF total net prospective resources in Beetaloo Wyworrie 1 Drilled Wells Wells to be Drilled i
Slide 11: Mid-Velkerri B shale superior rock properties compared to Marcellus shale
Mid-Velkerri “B” shale superior rock properties compared to Marcellus shale High productivity potential with original gas in place equivalent to three stacked Marcellus shale plays For personal use only 80% more gas per square mile ~50% deeper in ‘Core’ Beetaloo Equivalent effective porosity Mid-Vel
Slide 12: Tamboran's EP 161 and EP 136 in the Core Beetaloo
Map Key Gas Pipeline Highway Tamboran’s EP 161 and EP 136 in the ‘Core’ Beetaloo Drilled Wells Wells to be 3 100% operator of EP 136 provides opportunity for Tamboran to lead the pace of development Drilled in 2022 For personal use only 1 2 Core EP 161 EP 136 Beetaloo Beetaloo Extension Marmbulligan
Slide 13: EP 161: Tanumbirini 2H and 3H wells demonstrating commercial flow rates
EP 161: Tanumbirini 2H and 3H wells demonstrating commercial flow rates Initial flow rates of ~3 mmscfd per 1,000-metre lateral from Mid-Velkerri “B” shale formation1 For personal use only T2H & T3H flow testing Tanumbirini 2H seismic cross-section and gas flows MCSAN19-01 “C" Shale Gas flows “B" Sh
Slide 14: Pathway to >1 TCF of 2P reserves in EP 136 by calendar year-end 2023
Pathway to >1 TCF of 2P reserves in EP 136 by calendar year-end 2023 Tamboran controls the pathway to 2P reserves booking and sanction of proposed Maverick Pilot Development For personal use only Phase 1: 2022 Phase 2: 2023 Tanumbirini2H Tanumbirini3H Tanumbirini 2H Tanumbirini 3H EP 136 EP 161 EP 1
Slide 15: Upside potential from 2P reserves maturation in EP 136
Upside potential from 2P reserves maturation in EP 1361 Potential for prospective gas resources to be converted to 2P reserves through 2023 – 2026 For personal use only 2.0 Peer average Waitsia Tamboran (2025 Target 2P Tamboran plans to unlock value as Reserves) prospective gas resources are convert
Slide 16: EP 136 Maverick optimised well fracture stimulation design
EP 136 Maverick 1H/2H/3H optimised well fracture stimulation design Increased lateral length designed to improve flow rates and increase well economics For personal use only Tanumbirini 2H and 3H wells ~3.0 mmscfd per 1,000-metre lateral Stimulated over 600 and 660-metres 10 – 11 frac stages Maveric
Slide 17: EP 136 infrastructure partnership with Jemena
EP 136 infrastructure partnership with Jemena Phased approach to commercialise EP 136 resources, targeting the East Coast gas and global LNG markets For personal use only Illustrative Jemena pipeline to commercialise Tamboran gas The Jemena-Tamboran Joint Venture (“JTJV”) In 2020, Tamboran and Jemen
Slide 18: Targeted full-cycle cost from EP 136 for domestic gas and global LNG markets
Targeted full-cycle cost from EP 136 for Australian domestic gas and global LNG markets Shale expertise and infrastructure partnership will enable Tamboran to be one of the lowest cost gas producers For personal use only Illustrative Jemena pipeline to commercialise Tamboran gas Illustrative EP 136
Slide 19: Potential for premium economics from EP 136 development
Potential for premium economics from EP 136 development Targeting upstream costs of $2.00 – 3.00 per mscf For personal use only Horizontal well 30-day IP flow test (mmscfd) 1,000-metre horizontal well 2.0 mmscfd 2.5 mmscfd 3.5 mmscfd 4.0 mmscfd 5.5 mmscfd 6.0 mmscfd 3,000-metre development well 6.0
Slide 20: Improving economics of the Beetaloo Sub-basin
Improving economics of the Beetaloo Sub-basin US unconventional learnings to accelerate cost reduction and productivity improvements For personal use only Cost reduction1 Improved productivity2 Lower delivered cost Median D&C cost per 1,000-metre (US$ millions) Average gross gas volumes produced per
Slide 21: Focus for 2022
Focus for 2022 Delivering on ambition to accelerate commercialisation of ‘Core’ Beetaloo For personal use only ❑ H1 2022: Acquire 90 kilometres of 2D seismic over ‘Core’ Beetaloo acreage. ❑ Mid-2022: Commence drill and fracture stimulate of M1H, targeting confirmation of commercial flow rates within
Slide 22: Tamboran Resources: Next Generation E&P Company
Tamboran Resources "Next Generation” E&P Company For personal use only − Tamboran has a vision to become a Net Zero (Scope 1 and 2) gas producer when company initiates first production by the end of calendar year 2025. − High quality 'Core' Beetaloo asset base positioned to deliver gas to the North
Slide 23: Appendix
For personal use only Appendix TANUMBIRINI STATION, NORTHERN TERRITORY AUSTRALIA 23
Slide 24: Appendix A: Tamboran operating team - US shale experts
Appendix A: Tamboran operating team - US shale experts Focused on accelerated reduction of costs by applying US shale expertise and latest 7G drilling technology For personal use only Tamboran’s US Shale Operating Experience by Basin − Tamboran’s operating team have been recruited from leading US E&
Slide 25: Appendix B: EP 161 – T2H and T3H flow tests
Appendix B: EP 161 – T2H and T3H flow tests1 Initial flow tests have validated Tamboran’s Mid-Velkerri “B” shale model For personal use only Tanumbirini 2H Tanumbirini 3H Total Measured Depth 4,598-metres 4,857-metres Stimulated stages 11 10 Stage interval 60-metres Total stimulated section 660-metr
Slide 26: For personal use only
For personal use only TANUMBIRINI STATION, NORTHERN TERRITORY AUSTRALIA 26
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