Tamboran Resources Limited (ASX: TBN) has achieved significant milestones in its first quarter activities report, ending 30 September 2023. In a significant feat, Tamboran expertly drilled SS1H and A3H wells in Beetaloo Basin, uncovering exceptional 90-meter thick Mid Velkerri B Shale. This discovery showcased remarkable porosity and gas saturation, setting a new standard for the region's geological potential and Tamboran's expertise. A3H drilled and cemented in a record-breaking 18 days, demonstrated remarkable efficiency, being 20 days faster and 30% more cost-effective than its predecessor.
Additionally, Tamboran expanded the Beetaloo Basin's 2C contingent gas resources by 32% to 2.0 TCF following the Maverick 1V (M1V) well drilling in EP 136. Tamboran secured LOIs from key Australian energy retailers, highlighting ongoing Beetaloo Basin demand. Tamboran unveiled plans to re-domicile to the United States via a Scheme of Arrangement, preserving its ASX listing through CHESS depositary interests.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
