SS-2H ST1 and SS-3H Stimulus Campaign Launched by Investing.com

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• Tamboran has commenced stimulation activities at Sidetrack Sidetrack South 2H (SS-2H ST1) and 3H (SS-3H) on Beetaloo Basin Exploration Permit EP 98.
• The company plans to pump up to 119 stimulation stages through the well with reduced spacing between stages. The SS-2H ST1 well is scheduled to include 43 stages over a horizontal area of ​​5,427 feet (1,654 m), and the SS-3H well is scheduled to include 76 stages over a horizontal area of ​​9,766 feet (2,977 m).
• The campaign is being conducted with Liberty Energy's (NYSE: LBRT) state-of-the-art stimulation equipment, the first 80,000 hydraulic horsepower (HHP) FRAC to be deployed in the Beetaloo Basin of the United States.
• The increased horsepower from the Liberty gear is expected to result in a >25% increase in support intensity of 2,800 lb-ft, as compared to the Shenandoah South South well. All stages are pumped with a Slickwater fluid design.

NEW YORK-(Business Wire)-Managing Director of Tamboran Resources Corporation, Joel Riedel, said:

We are excited to begin the stimulation program for the SS-2H ST1 and SS-3H wells in the Beetaloo Basin with Liberty Energy's state-of-the-art stimulation equipment. The increased horsepower of this equipment is expected to deliver a step change in stimulation efficiency and support density compared to previous wells completed in the basin.

This stimulation campaign is scheduled to be the largest in the Beetaloo Basin to date, with up to 119 stages over an entire lateral length of 15,193 feet (about 4,631 meters) across the well, at a rate of approximately 127 feet per stimulated stage.

Importantly, these wells are slated to be among the first to provide reliable power to the Northern Territory, where they are expected to feed production into the proposed Plot 40 MMCF/D Shenandoah South project.

We have successfully implemented wet season stimulation programs in the Basin over the past two years, with campaigns at Amunge 2H (2022/23) and Shenandoah South 1h (2023/24). This experience gives us confidence in our ability to perform these operations safely and efficiently all year round.

Tamboran Resources Corporation

Arbn 672 879 024
The first tower, the international towers
Suite 1, Level 39, 100 Botanrooo Avenue, Botanrooo NSW 2000, Australia
+61 2 8330 6626 www.tamboran.com

This announcement has been approved and authorized for release by Joel Riddle, CEO of Tamboran Resources Corporation.

About Tamboran Resources Corporation

Tamboran Resources Corporation, (Tamboran or the Company), through its subsidiaries, is the largest acreage holder and operator of approximately 1.9 million potential acres in the Beetaloo Basin within the Greater McArthur Basin in the Northern Territory of Australia.

Tamboran's principal assets include a 38.75% working interest and operating interest in EPS 98, 117 and 76, a 100% working and operating interest in EP 136 and a 25% undesirable working interest in EP 161, all of which are located in the Beetaloo Basin.

Disclaimer

Tamburan makes no representation, warranty or guarantee as to the accuracy or likelihood of fulfillment of any forward-looking statement or any results expressed or implied by any forward-looking statement. The forward-looking statements in this report reflect expectations held at the date of this document. what

The information in this announcement does not take into account the investment objectives, financial situation or particular needs of any recipient and is not financial product advice. Before making an investment decision, recipients of this announcement should consider their own needs and situation and, if necessary, seek independent professional advice. To the maximum extent permitted by law, Tamboran and its officers, employees, agents and consultants make no warranty, representation or guarantee as to the accuracy, completeness or reliability of the information contained in this presentation. Furthermore, neither Tamburan nor its officers, employees, agents or consultants, to the extent permitted by law, accepts liability for any loss, claim, damages, costs or expenses arising out of or in connection with the information contained in this announcement.

Note on forward-looking statements

This press release contains forward-looking statements relating to the Company within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act) and Section 27A of the Securities Exchange Act of 1933, as amended. Forward-looking statements reflect the Company's current expectations and projections about future events at that time and therefore involve uncertainty and risk. The words believe, anticipate, anticipate, will, could, could, may, plan, estimate, intend, forecast, potential, follow, and the negatives of these words and other similar expressions generally identify forward-looking statements.

It is possible that the Company's future financial performance may differ from expectations due to a variety of factors, including but not limited to: our early development stage with no material revenues expected through 2026 and our limited operating history; Significant additional capital required for our business plan, which we may not be able to raise on acceptable terms; Our delivery strategy to the Australian East Coast and select Asian markets is contingent on the construction of additional pipeline capacity, which may not be secured; the lack of proven reserves and the risk that our drilling will not produce natural gas in commercial quantities or quality; the speculative nature of drilling activities, which involves significant costs and may not result in discoveries or additions to our future production or reserves; challenges associated with importing US practices and technology into the Northern Territory, which may impact our operations and growth due to limited local expertise; The critical need for timely access to appropriate equipment and infrastructure, which may impact market access and implementation of the business plan; operational complexities and risks inherent in drilling, completion, work and hydraulic fracturing operations that could adversely impact our business; natural gas price volatility and its potential adverse impact on our financial condition and operations; risks of construction delays, cost overruns, and negative impacts on our financial and operating performance associated with midstream projects; The potential material impact on our business if Beetaloo's ratings are materially inaccurate; Concentrating all of our assets and operations in Beetaloo, making us vulnerable to region-specific risks; the material doubt raised by our recurring operating losses, negative cash flows, and cumulative net losses about our ability to continue as a going concern; complex laws and regulations that could impact our operating costs and feasibility or result in significant liabilities; community opposition that could result in costly delays and hinder our ability to obtain necessary governmental approvals; Exploration and development activities at Beetaloo that may result in legal disputes, operational disruptions, and reputational damage due to indigenous ownership and heritage issues; The requirement to produce natural gas on a net Scope 1 basis upon commencement of commercial production, with internal operational network targets, which may increase our production costs; increased attention to ESG matters and environmental stewardship measures that could negatively impact our business operations; Risks related to corporate structure; risks related to our common stock and CDIs; and other risk factors discussed in this report and the Company's filings with the Securities and Exchange Commission.

Not all of these factors can be predicted or determined. Any forward-looking statements in this document are based on certain assumptions and analyzes made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations. While the Company continually reviews trends and uncertainties affecting the Company's results of operations and financial condition, the Company undertakes no obligation to update or supplement any particular forward-looking statements contained herein.

View source version on BusinessWire.com: https://www.businesswire.com/news/home/20250123854017/en/

Investor inquiries:
Chris Morby, Vice President, Corporate Development and Investor Relations
+61 2 8330 6626
investors@tamboran.com

Media inquiries:
+61 2 8330 6626
media@tamboran.com

Source: Tamboran Resources Corporation