Tamboran Resources Limited (ASX:TBN) EP 117 Operational Update SS-1H DFIT Analysis

(MENAFN- ABN Newswire)

Tamboran Resources Limited (ASX:TBN) (OTCMKTS:TBNNY) report that results from the diagnostic fracture injection test (DFIT) of the Mid Velkerri B Shale in the Shenandoah South 1H (SS-1H) well have demonstrated an over pressured regime, with a pore pressure gradient of at least 0.54 pounds per square inch (psi) per foot, in line with results demonstrated at Tanumbirini (0.51 - 0.56 psi per foot).
Results have been verified by third-party subsurface experts, Subsurface Dynamics, Inc.
The results provide confidence that the upcoming flow test of the SS-1H well can replicate or exceed commercial flow tests achieved at the Tanumbirini 2H (T2H) and Tanumbirini 3H (T3H) wells in the Santos-operated EP 161 acreage.
Condor have commenced the mobilisation of stimulation equipment to the SS-1H well pad ahead of the planned 10 stage stimulation program in November 2023. IP30 flow rate results are on track to be released in early Q1 2024, subject to the timing of stimulation fluid flow back.
On the successful flow testing of SS-1H, Tamboran and the Beetaloo Joint Venture (BJV) expect to be in a position to sanction the proposed Pilot Development in the Shenandoah South region.
Tamboran Resources Limited Managing Director and CEO, Joel Riddle, said:
"Results from the DFIT along with the log analysis of the Mid Velkerri B Shale at the SS-1H location have demonstrated that the deepest regions of the Beetaloo Basin hold the highest quality shale and are most optimal for development.
"The pore pressure gradient of at least 0.54 psi per foot is consistent with an over pressured regime observed in the core area of the Marcellus Shale. In addition, this result provides increased confidence that the flow rates achieved at the T2H and T3H wells, which exceeded what Tamboran believes to be the commerciality threshold for the Beetaloo Basin, can be replicated or exceeded in the Shenandoah South location.
"This is a major data point that validates our decision to focus the location of the proposed Pilot Development in the Shenandoah South region. We plan to update the market in coming months on our 2024-2025 drilling program with the H&P super-spec FlexRig(R) Flex 3 Rig that will aim to supply the proposed 40 TJ per day pilot plant, providing valuable gas supplies to the Northern Territory gas market."
Shenandoah South 1H DFIT
The Diagnostic Fracture Injection Test (DFIT) was conducted on 6 October 2023 after the casing and cement integrity was verified suitable for hydraulic fracturing operations. A DFIT is a widely accepted industry technique used to analyse geo-mechanical and reservoir properties.
The process involves injecting a low volume of fluid down the wellbore to breakdown the formation, creating a small initial fracture, allowing for the pressure behaviour after injection to be monitored.
Formation pressures at SS-1H have been monitored for over 20 days and analysed to provide a pore pressure prediction for the area.
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Tamboran Resources Ltd (ASX:TBN) is a natural gas company that intends to play a constructive role in the global energy transition towards a lower carbon future by developing low CO2 unconventional natural gas resources in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. Tamboran's key assets are a 25% working interest in EP 161 and a 100% working interest in EP 136, EP 143 and EP(A) 197 which are located in the Beetaloo Sub-basin.

Investor enquiries: Chris Morbey Vice President - Investor Relations +61-2-8330-6626 Media enquiries: +61 2 8330 6626


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