Tamboran reports first Beetaloo gas sales; 178-stage stimulation; SPCF US$9M under budget

Tamboran Resources Corp

First gas sales from Beetaloo Basin into NT network began early September 2026; NT Government nominating 25 TJ/d, ramping to contracted plateau 40 TJ/d.
BJV completed largest Beetaloo stimulation: 178 stages across three ~10,000-ft laterals using Liberty Energy fleet; averaged 6.7 stages/day and hit record 12 stages in one day.
SPCF construction completed August 2026 on time and ~US$9M below forecast; commissioning to finish in 4Q 2026; expansion to up to 100 TJ/d decision planned mid-2027.
SS1-4H and SS1-6H reached TD with 9,329-ft and 9,505-ft laterals; SS1-2H drilling ongoing; JS-1H in EP 161 spudded early September 2026, ~5,600 ft MD.
Acquired Falcon Oil & Gas in May 2026 via subsidiaries after BC court approval; issued 6,537,503 shares; cash US$225M, net drawn debt US$30M, undrawn debt US$31M.

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