Tamboran Resources Says Joint Venture Plans to Begin Drilling at Northern Territory Wells; Shares Jump 6%

MT Newswires Live

05/14

Tamboran Resources (ASX:TBN) said the Beetaloo joint venture in the Northern Territory is set to start drilling activities of the Shenandoah South-7H and SS-8H wells on the SS1 pad in the middle of the year, according to a Thursday Australian bourse filing.

The Beetaloo basin program for the year is expected to begin imminently with the stimulation of the SS-3H, SS-4H, and SS-5H wells on the SS2 pad. Tamboran has a 47.5% working interest in 20,309 acres and is the operator of the Northern pilot area. It has a 38.75% working interest in 20,309 acres and is the non-operator of the Southern pilot area.

The Sturt Plateau Compression Facility was 88% complete at the end of April, and the facility construction remains on budget and on track to begin commissioning in the September quarter.

Its shares jumped 6% in recent trading on Thursday.

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