Tamboran drills two Beetaloo wells; signs APA pipeline deal; US$59.4M cash

Tamboran Resources Corp

SS-2H ST1 and SS-3H wells drilled; SS-3H set 10,000-ft horizontal section, 43% faster than prior well.
SS-2H ST1 completed 35 stimulation stages with record 2,706 lb/ft proppant intensity; IP30 expected April 2025.
SS-3H stimulation paused due to casing stress; reinforcement in Q1, restimulation in Q2 with IP30 mid-2025.
Binding agreements with APA to build/operate Sturt Plateau Pipeline; long-lead items secured for 1H 2026 gas delivery.
Secured US$23M line of credit from Macquarie; cash balance US$59.4M, no debt; MOU with Santos for DLNG expansion studies.

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