• Achieved record Beetaloo Basin IP90 flow rate of 6.7 MMcf/d from SS-2H ST1 well
• Commenced first batch drilling program in the Beetaloo Basin, successfully drilling SS-4H and SS-5H wells to TD
• Received historic approval for sale of appraisal gas to avoid flaring

Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) reported its fourth quarter results, highlighting several key achievements. The company delivered a record Beetaloo Basin IP90 flow rate of 6.7 MMcf/d from the SS-2H ST1 well, a 2% increase in flow rate during the final 30 days. This demonstrates the potential for significant matrix contribution and/or enhanced fracture conductivity. Tamboran also commenced its first batch drilling program in the Beetaloo Basin, successfully drilling the SS-4H and SS-5H wells to total depth with 10,000-foot horizontal sections in the Mid Velkerri B Shale. The company received historic approval from Native Title Holders and the Northern Land Council for the sale of appraisal gas to avoid flaring, as well as approval from the Northern Territory Government. Tamboran's pro forma cash balance and receivables stood at US$71.1 million as of June 30, 2025, providing a pathway to the proposed Shenandoah South Pilot Project's first production in mid-2026, subject to weather and final debt financing.

Tamboran is targeting first gas sales of 40 TJ/d (~39 MMcf/d) from the proposed Shenandoah South Pilot Project in mid-2026, subject to weather and final debt financing.

Tamboran is progressing towards production from the proposed 40 TJ/d (~39 MMcf/d) Shenandoah South Pilot Project in mid-2026. Key upcoming catalysts include reaching FID on the Pilot Project in Q4 2025, completing drilling of the SS-6H well in Q4 2025, and completing construction of the Sturt Plateau Pipeline and Compression Facility in early-to-mid 2026.