• SS-2H ST1 well achieved a Beetaloo Basin record average 90-day initial production (IP90) flow rate of 6.7 MMcf/d
• Flow rates from the SS-2H ST1 well have increased by ~2% over the last 30 days without any downhole intervention
• The three well 2025 Shenandoah South drilling campaign continued to progress with the intermediate section of the SS-5H and -6H wells successfully drilled

Tamboran Resources Corporation announced that the Shenandoah South 2H sidetrack (SS-2H ST1) well achieved a Beetaloo Basin record average 90-day initial production (IP90) flow rate of 6.7 million cubic feet per day (MMcf/d) over a 5,483-foot stimulated horizontal within the Mid Velkerri B Shale. Over the last 30 days, flow rates from the SS-2H ST1 well have increased by ~2% without any downhole intervention and maintaining a 44/64' choke. At the completion of the 90-day period, the well was flowing at 6.5 MMcf/d with a wellhead pressure of ~700 psi, a ~3% decline from the end of Day 60. The SS-2H ST1 well has now been suspended ahead of the commencement of gas sales to the Northern Territory Government via the Sturt Plateau Compression Facility (SPCF) in mid-2026, subject to weather conditions and final stakeholder approvals. The three well 2025 Shenandoah South drilling campaign continued to progress with the intermediate section of the SS-5H and -6H wells successfully drilled. The rig is currently drilling the intermediate section of the SS-4H well. On completion of the intermediate section of the SS-4H well, the rig is planned to commence drilling of the 10,000-foot horizontal sections of the three wells.

The performance and character of the SS-2H ST1 well is unique compared to hundreds of wells the Chairman and Interim CEO has seen in his career. With flow rates increasing over the last 30 days to 6.5 MMcf/d, without downhole intervention or adjustments to choke, the company believes it is seeing the enhanced matrix connectivity achieved during the stimulation program. The SS-2H ST1 well represents another encouraging data point as the company better understands the Velkerri B Shale's ultimate performance and recovery. The data from this well will be important as the company prepares to stimulate its first 10,000-foot horizontal section in the Shenandoah South area by the end of the year.