Tamboran Resources Corporation (TBN) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone, and welcome to Tamborin Resources' financial year 2026 first quarter earnings presentation. My name is Dick Stoneburner, and I'm the chairman and interim CEO of Tamborin Resources, and I'm joined here today with our chief financial officer, Eric Dyer. Moving to slide two, you can see our disclaimer, which relates to forward-looking statements within the presentation. I encourage you to review this at your leisure. Moving to slide three. The first quarter of FY26 has been a transformational period for Tamborin as we continue to progress toward initial gas sales from the Beataloo Basin. During the quarter, we made the historic decision to sanction the Shenandoah South pilot project following execution of key commercial and stakeholder approvals. The decision to sanction the pilot project is a major milestone in the history of Tamborin resources the Beedloo Basin, and the Northern Territory. In October, we successfully completed the first batch drilling campaign in the basin, with three wells drilled and cemented with full 10,000-foot horizontal sections within the mid-Valkyrie B Shale. We commenced the Stimulation Program on the SS6H well earlier this week, and the program is planned to be completed before the end of the year. The remaining two wells from this drilling program and the SS3H, drilled and uncompleted well, are planned to be stimulated in the first half of 2026. Construction activities were commenced on the Tamborne-operated Sturt Plateau Compression Facility, also known as the SPCF. At the end of October, the project was 68% complete, and importantly, tracking the P50 budget and schedule. The project remains on track to deliver first gas in mid-2026. The AP-operated Sturt Plateau pipeline also commenced construction during the quarter and...