Tamboran Resources Corporation · NYSE:TBN
Tamboran Resources — FY2024 Earnings Presentation
17 slides from Tamboran Resources's earnings presentation, Sep 23, 2024
Slide 1: 4th Quarter & Annual Presentation
For personal use only NYSE: TBN, ASX: TBN 4th Quarter & Annual Presentation Joel Riddle – Managing Director and Chief Executive Officer September 20, 2024 SHENANDOAH SOUTH 2 WELLPAD, NORTHERN TERRITORY, AUSTRALIA
Slide 2: Disclaimer
Disclaimer The information in this presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which include statements
Slide 3: FY24 highlights
Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) FY24 highlights For personal use only Achieved the highest normalized flow Signed a 15.5-year Binding Gas Sales rates1 from the Beetaloo Basin to date Agreement with the Northern Territory 1 4 Government for proposed SS Pilot Project from the Shen
Slide 4: Australian East Coast gas market on track for potential shortfalls
Australian East Coast gas market on track for potential shortfalls Gas remains important for Australia’s energy independence | Prices >280% Henry Hub pricing − Using forecast production from producers, the recent ACCC ACCC East Coast gas supply/demand forecast For personal use only (including Domest
Slide 5: Tamboran's proposed Beetaloo Basin development strategy
Tamboran’s proposed Beetaloo Basin development strategy Aspiration to grow Beetaloo Basin gas production to 2 Bcf/d (gross) as early as 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 (~780 MMcf/d net
Slide 6: Tamboran's Strategic Partnerships in place to accelerate Beetaloo and LNG development
Tamboran’s Strategic Partnerships in place to accelerate large scale Beetaloo and LNG development Delivering on commitment to import US technology and build additional pipelines into the Beetaloo Basin For personal use only (7.2% TBN shareholder) (6.3% TBN shareholder) Strategic Drilling Partner Str
Slide 7: Shenandoah South 1H result materially derisked the Mid-Velkerri gas play
Shenandoah South 1H result materially derisked the Mid-Velkerri gas play in the Beetaloo West area Geological rock properties at SS-1H compare favorably with those in the average Marcellus Shale dry gas window Shenandoah South 1H − SS-1H well logged ~480 ft of high quality, stacked Middle Velkerri s
Slide 8: Proposed Shenandoah South Pilot Project
Proposed Shenandoah South Pilot Project Targeting first gas from proposed ~40 MMcf/d (gross) Pilot Project in 1H 2026 − Proposed Pilot Project targeting six upfront horizontal wells For personal use only drilled in 2024-25 to achieve ~40 MMcf/d (gross) plateau production, subject to funding, weather
Slide 9: 2024 Beetaloo development activities underway
2024 Beetaloo development activities underway SS-2H spudded in late August 2024 | On track for IP30 results in 1Q 2025 − Program is the largest single campaign in the Beetaloo For personal use only Basin to date (distance drilled and stimulation stages) − The SS-2H well spudded in late August 2024 u
Slide 10: "US-Style" Completion Design enabled by new Liberty Energy Frac Spread
“US-style” Completion Design enabled by new Liberty Energy Frac Spread Liberty Energy 80,000 HP frac fleet imported from US into Australia for dedicated Beetaloo large scale development For personal use only − The first 80,000 hydraulic horsepower (HHP) frac spread equipment imported into Australia
Slide 11: Proposed SS Pilot Project to further optimize "US-style" well design
Proposed SS Pilot Project to further optimize “US-style” well design Incorporating learnings from SS-1H to further improve well performance and cost efficiency For personal use only Shenandoah South 1H 10 stimulation stages over ~1,640 ft (164 ft spacing) Targeting ~5 mmscfd per 1,000-metre (3,280 f
Slide 12: Shenandoah South 1H IP90 performance vs. Marcellus Shale producers
Shenandoah South 1H IP90 performance vs. Marcellus Shale producers Favorable IP90 comparison to average Marcellus Shale well performance Average 12-Month Type Curve (By Marcellus Producers) Marcellus Basin (US) For personal use only − The average IP90 flow rate from the Mid Velkerri B Shale at SS-1H
Slide 13: SS-1H results high-grade ~1 million acres in deep Mid-Velkerri gas play
SS-1H results high-grade ~1 million acres1 in deep Mid-Velkerri gas play in Beetaloo West area Proposed Pilot location selected due to attractive rock properties and close proximity to existing pipeline corridor For personal use only Targeting development in deep Beetaloo West area: − ~1 million gro
Slide 14: Phase 2/3: Multiple pathways to commercialize Beetaloo Basin gas
Phase 2 / 3: Multiple pathways to commercialize Tamboran’s Beetaloo Basin gas Oversized new pipelines to provide new feed gas to East Coast Gas Market and Darwin LNG Market East Coast Domestic Gas Market For personal use only Phase 2 Aggregate volume of 875 MMcf/d to offset projected 24-36” Open sho
Slide 15: Tamboran's proposed NTLNG Project at Darwin
Tamboran’s proposed NTLNG Project at Darwin Secured Middle Arm site to progress NTLNG | Targeting first fully integrated LNG development in onshore Northern Territory − Northern Territory Government awarded Tamboran ~420-acre (170-hectare) site at Darwin in May 2023 For personal use only − Awarded p
Slide 16: Upcoming catalysts
Upcoming catalysts Progressing towards production from proposed ~40 MMcf/d (gross, ~19 MMcf/d net) Pilot Project in 1H 2026 For personal use only Complete drilling and stimulation activities, and 4Q 2024 commence flow testing of SS-2H and SS-3H Secure final stakeholder and regulatory approvals YE 20
Slide 17: For personal use only
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