• Tamboran has commenced stimulation of the SS-2H ST1 and SS-3H wells in EP 98
• The campaign will use Liberty Energy's modern 80,000 HHP stimulation equipment
• The increased horsepower is expected to deliver a >25% increase in proppant intensity

Tamboran Resources Corporation has commenced stimulation activities of the Shenandoah South 2H sidetrack (SS-2H ST1) and 3H (SS-3H) wells in the Beetaloo Basin exploration permit EP 98. The company is planning to pump up to 119 stimulation stages across the two wells with reduced spacing between stages. The SS-2H ST1 well is planned to include 43 stages over a 5,427-foot (1,654-metre) horizontal section and the SS-3H well is planned to include 76 stages over a 9,766-foot (2,977-metre) horizontal section. The campaign is being conducted with the Liberty Energy (NYSE: LBRT) modern stimulation equipment, which is the first 80,000 hydraulic horsepower (HHP) frac spread imported into the Beetaloo Basin from the US. The increased horsepower from the Liberty equipment is expected to result in a >25% increase in proppant intensity of >2,800 pounds per foot, as compared with the Shenandoah South 1H well. All stages are being pumped with a slickwater fluid design. This stimulation campaign is planned to be the largest in the Beetaloo Basin to date, with up to 119 stages over a full lateral length of 15,193 feet (~4,631 meters) across the two wells, an average of ~127 feet per stimulated stage. These wells are planned to be among the first to provide reliable energy to the Northern Territory, with production expected to feed into the proposed 40 MMcf/d Shenandoah South Pilot Project.

Tamboran has successfully undertaken stimulation programs during the wet season in the Basin over the last two years, with campaigns at Amungee 2H (2022/23) and Shenandoah South 1H (2023/24). This experience gives the company confidence in its ability to safely and efficiently conduct these operations year-round.