Tamboran Q1 FY25 ops: cash US$74M, SS-2H sidetrack, on track for IP30 flow tests in 1Q 2025

Tamboran Resources Corp

SS-2H well reached 20,669 ft TD but sidetracked due to downhole issue; SS-2H ST1 achieved record drilling rates below Moroak Sandstone.
SS-3H well to start drilling Nov 2024; both wells to be stimulated with up to 60 stages each using Liberty Energy frac fleet.
Cash balance US$74.0M at Sept 30, 2024; US$7.6M net from rig sale received in Oct 2024. No debt.
Awarded Bechtel pre-FEED for NTLNG project; contracted Enscope for Sturt Plateau Compression Facility long lead items.
IP30 flow tests targeted for 1Q 2025; binding transportation agreements with APA Group for Sturt Plateau Pipeline on track.

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