Tamboran’s pure focus is on its acreage portfolio in the Beetaloo/McArthur Basin in the Northern Territory.
This basin is located in the Northern Territory of Australia, approximately 600 kilometres south of Darwin. Being proximal to a major industrial hub enables relative logistical and operational luxuries, like close access to key infrastructure through roads, a pipeline and a railway.
Its location means efficient access to Australian markets and beyond, with the northern port city of Darwin and the Eastern Seaboard of Australia to the east through Queensland.
The basin is of Proterozoic age, and demonstrates exceptional potential as a source of unconventional shale oil and gas. Two intersected shales exhibit thickness, organic content and gas in place that are amongst the best anywhere in the world.
B and C shale Prospective Resources. (1)
Gross Best Estimate
Net Attributable Best Estimate
Beetaloo / McArthur Project
Tamboran’s Beetaloo/McArthur Project is located in the Northern Territory in Australia and covers an area of 5.65 millions acres. The project comprises exploration permits EP 161, EP 162 and EP 189 and is located in close proximity to Darwin (~600km south), a major industrial and LNG export market.
In December 2012 Tamboran announced a farm-in with Santos Limited (ASX:STO) pursuant to which Santos would earn up to 75% in the permits and applications by funding a $71 million work program in two phases. The terms of the agreement provide for Santos to earn an initial 50% operated interest by funding a $41 million phase one work program over three years, and on completion of that program, a further 25% interest by funding a $30 million phase two work program including the drilling and testing of two wells. In conjunction with the farm-in, Santos also made a $10M equity investment in Tamboran and remains a major shareholder.
As part of the phase one work program, Santos completed a 500-kilometre 2D seismic survey over EP 161 in 2013 and drilled the Tanumbirini-1 exploration well in EP 161 in 2014. The Tanumbirini-1 exploration well is one of the deepest onshore wells to have been drilled in Australia, and reached a total depth of 3,945 metres.
The initial Tanumbirini-1 well results are extremely encouraging. Multiple thick intervals of organic-rich shale were intersected at the primary objective Mid-Velkerri level, accompanied by significant mud gas shows. Elevated gas readings were encountered over a total gross interval in excess of 500 metres. A 90 metre core was taken and extensive wireline and core evaluation conducted. The well was cased and suspended and awaits hydraulic fracture treatment in Q4 2019.