Tamboran Resources Corporation · NYSE:TBN
Tamboran Resources — Shareholder Meeting (November 2023)
32 slides from Tamboran Resources's shareholder meeting presentation, Nov 7, 2023
Slide 1: Chairman's Script: Welcome
Tamboran Resources Limited Chairman’s Script for 07 November 2023 Annual General Meeting Slide 1: Welcome Good morning ladies and gentlemen. It is past the appointed time of 10.00 am Australian Eastern Daylight Time (AEDT) and I have been informed that a quorum is present. I therefore declare the 20
Slide 2: Housekeeping and compliance statement
Before we proceed to the formal business of the meeting, I have a couple of quick housekeeping points. For those people joining us in person, I’d be grateful if you could please make sure your phone is on silent and that you use the Lumi platform for voting. In the event of an emergency, please foll
Slide 3: Submitting written and audio questions
I will now explain the process for submitting written questions and audio questions. Written questions can be submitted at any time. To ask a question, press on the speech bubble icon. This will open a new screen. At the bottom of that screen there is a section for you to type your question. Once yo
Slide 4: Business overview and FY23 highlights
Slide 6: Business overview Before moving to the procedural matters for the meeting, I will provide a short overview of the year before handing over to Joel to provide a quick update on our activities in the Beetaloo Basin. Slide 7: FY23 highlights The 2023 financial year has been busy for Tamboran a
Slide 5: APA partnership and sustainability highlights
Finally, APA Group has been selected as our preferred pipeline partner to support the transportation of Tamboran’s gas to the East Coast gas market, and our proposed NTLNG development. We look forward to updating you all on our FY24 activities over the course of the year as we progress toward first
Slide 6: IEA outlook and the need for gas supply
In the 2023 report released in October 2023, the IEA updated their Net Zero by 2050 scenario to now state “Continued investment in fossil fuels is essential in all of our scenarios. It is needed to meet increases in demand over the period to 2030 in the STEPS and to avoid a precipitous decline in su
Slide 7: Well performance and Shenandoah South region
Analysis by third-party subsurface experts, Subsurface Dynamics, Inc. demonstrated decline curves in line with Marcellus shale wells, with normalised EURs over ~10,000 ft of between 16.8 – 18.5 Bcf. Slide 13: Shenandoah South region Initial data from the Shenandoah South region has exceeded our expe
Slide 8: Proposed NTLNG development and APA agreement
Slide 16: Proposed NTLNG development In FY23 we announced the Northern Territory Government had allocated Tamboran exclusivity over 170 hectares of land on the Middle Arm Sustainable Development Precinct. This land provides Tamboran with a pathway to exporting up to 6.6 million tonnes of LNG per ann
Slide 9: Benefits of the H&P rig
Slide 19: Benefits of the H&P rig Finally, I want to highlight the environmental benefits of using this new technology. The increase in power of H&P’s rig allows us to increase the horizontal section within the Mid Velkerri Shale. Increasing this lateral length means that each well recovers a greate
Slide 10: Scheme recommendation and re-domiciliation
The Board have unanimously recommends that Tamboran Shareholders vote in favour of the Scheme, subject to no superior proposal emerging and BDO continuing to conclude that the Scheme is in the best interests of Tamboran Shareholders. And importantly, we will remain an ASX listed Company and tradable
Slide 11: Annual General Meeting 7 November 2023
For personal use only ASX: TBN, US OTC: TBNNY Building a potential 2 Bcf/d (gross) Beetaloo Basin gas development as early as 2030 Annual General Meeting | 07 November 2023 SHENANDOAH SOUTH WELLPAD, NORTHERN TERRITORY, AUSTRALIA
Slide 12: 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 13: Online Attendees – Text Question Process
ONLINE Attendees – TEXT Question PROCESS For personal use only 3
Slide 14: Boardroom Media – Audio Question Process
BOARDROOM MEDIA – AUDIO QUESTION PROCESS For personal use only 4
Slide 15: Online Attendees – Voting
ONLINE Attendees – VOTING For personal use only 5
Slide 16: Chairman's Address
For personal use only Chairman’s Address Mr. Richard (Dick) Stoneburner Annual General Meeting | 07 November 2023 6
Slide 17: FY23 and H1 FY24 activities
FY23 and H1 FY24 activities First operated drilling campaign delivering step change in drilling efficiency Tanumbirini 2H and 3H delivered IP30 rates of 3.3 and 5.2 mmscfd and IP90 rates For personal use only of 2.4 and 3.5 mmscfd, respectively (normalised to 1,000-metre lateral), exceeding what Tam
Slide 18: Sustainability highlights
Sustainability highlights Focused on partnering with NT communities to bring new opportunities and a sustainable future Community For personal use only − >A$100,000 (US$63,000) invested in community contribution to sporting, cultural and other initiatives − Local presence in Elliott to accelerate de
Slide 19: Macroeconomic environment: world continues to need investment in gas
Macroeconomic environment World continues to need investment in gas Projected East Coast gas market supply/demand Global oil and natural gas investment by scenario, 2022 - 2050 1.8 For personal use only Oil and gas 1,000 demand 1.6 continues to Stated Policies increase Scenario (STEPS) 1.4 IEA Base
Slide 20: Managing Director's Address
For personal use only Managing Directors Address Mr. Joel Riddle Annual General Meeting | 07 November 2023 10
Slide 21: Recent well performance confirming core Beetaloo focus
Recent well performance confirming Tamboran’s ‘core’ Beetaloo focus SS-1H (EP 117) demonstrated 1-million-acre prospective development area with high-quality shale 2 3 Amungee Area (EP 98) Tanumbirini Area (EP 161) For personal use only ▪ Mid Velkerri B Shale (~2,400-metre ▪ Mid Velkerri B Shale (~3
Slide 22: Core Beetaloo well performance consistent with Marcellus shale wells
‘Core’ Beetaloo well performance at EP 161 consistent with Marcellus shale wells Independently verified analysis indicates 20-year EUR of 16.8 – 18.5 Bcf1,2 for assumed development well at Tanumbirini Beetaloo Basin (Northern Territory, Australia) Tanumbirini 2H Tanumbirini 3H For personal use only
Slide 23: Core Beetaloo geological overview - Shenandoah South 1H
‘Core’ Beetaloo geological overview - Shenandoah South 1H Intersected ~90 metres of high quality Mid Velkerri B Shale, thickest section in the Beetaloo depocenter1 to date A A’ − Drilled vertical section to For personal use only Amungee NW1 Shenandoah S1 Beetaloo W1 Velkerri S2 1 Maverick 1 Tanumbir
Slide 24: Proposed Beetaloo Basin development strategy
Tamboran’s proposed Beetaloo Basin development strategy Aspiration to grow Beetaloo Basin gas production to 2 Bcf/d (gross) by 20301 to supply NT, East Coast and Asia Pacific markets For personal use only Phase 4 – NTLNG (2035+) Potential additional volumes to NTLNG 2 Bcf/d (775 MMcf/d net TBN) Phas
Slide 25: Beetaloo Basin 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 MMcf/d1 demonstrates LT gas supply requirements − Tamboran has secured separate non-binding letters of intent (LOIs) with six of For personal use only Au
Slide 26: 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 27: Strategic Midstream Partnership with APA Group
Tamboran’s Strategic Midstream Partnership with APA Group APA selected as Tamboran’s transmission pipeline partner to support the Beetaloo Basin development Strategic midstream partnership with APA Group For personal use only − APA Group (ASX: APA) and Tamboran have signed a term sheet Darwin to joi
Slide 28: Latest wells proving operational capability and US shale technology transfer
Latest wells proving operational capability and transfer of US shale technology H&P rig already delivering a significant step change in drilling efficiency, reaching TD at Amungee NW 3H in <18 days Tamboran operated drilled wells For personal use only - − Legacy wells within the Basin have historica
Slide 29: Reducing environmental footprint using larger drilling rigs
Reducing environmental footprint by using larger drilling rigs Well spacing increases to 6 km (previously 2 km) – equivalent distance of Opera House to Bondi Beach For personal use only Using larger rigs means gas wells are placed Beetaloo production wells are expected to have 6 km apart. a footprin
Slide 30: Procedural Matters and Q&A
For personal use only Procedural Matters and Q&A Mr. Richard (Dick) Stoneburner Annual General Meeting | 07 November 2023
Slide 31: Re-domiciling to the U.S.
Re-domiciling to the U.S. Increasing access to capital in a sophisticated market that understands shale − Company’s Board of Directors believes that the Scheme will best position Tamboran Group for the next phase of its For personal use only growth as Tamboran seeks to accelerate the commercialisati
Slide 32: For personal use only
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