Tamboran Resources Reports First Gas Sales from Beetaloo Basin

Barangaroo, NSW, Australia. Tamboran Resources Corporation (NYSE: TBN; ASX: TBN) has released its activities report for the first quarter of fiscal year 2027, marking a historic milestone as the company and its partner, Daly Waters Energy, became the first to sell gas from the Beetaloo Basin.

The company reported total net gas sales of 0.31 Bcf, generating US$1.8 million in revenue. This production is currently being processed through the newly constructed Sturt Plateau Compression Facility, which reached completion in August 2026. Management noted that production volumes are expected to grow as commissioning finishes and the company enters a take-or-pay contract with the Northern Territory Government in early 2027.

Key Operational Highlights:

• The SS2-2H ST1 well demonstrated strong productivity, delivering an average flow rate of 10.2 MMcf/d over a 720-hour period.
• Average IP30 rates of 8.8 and 10.0 MMcf/d were achieved from the SS2-3H and SS2-5H wells, respectively.
• A three-well drilling program on the SS1 pad was completed, utilizing a high-specification FlexRig.
• Santos commenced a two-well appraisal program in EP 161, where Tamboran holds a 25% non-operated interest.

Financial and Corporate Highlights:

• Cash balance and near-term inflows stood at US$180 million as of September 30, 2026.
• Total capital expenditure for the quarter reached US$56.9 million, driven by drilling and infrastructure construction.
• Mr. Todd Abbott was appointed as Managing Director in addition to his ongoing role as Chief Executive Officer to formalize executive leadership during the transition to development.
• The company signed a non-binding Memorandum of Understanding with Liberty Energy to extend hydraulic fracture stimulation and wireline services in the region through 2029.