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tamboran RESOURCES • ASX ANNOUNCEMENT Tamboran Resources Limited ( ASX : TBN ) First Quarter Activities Report for period ended 30 September 2021 Highlights • • • 28 October 2021 EP 161 Tanumbirini 2H ( " T2H ” ) successfully drilled to 4,598 metres total depth , encountering significant gas shows and pressures that are typically strong indicators of commercial flow rates . Commenced drilling the Tanumbirini 3H ( “ T3H " ) well in EP 161. The vertical section of the well was completed subsequent to the end of the quarter . Fracture stimulation and flow testing to occur following the drilling of T3H . Preliminary flow test results from the T2H and T3H wells are anticipated by end CY2021 . Recruited a highly experienced operational and technical team , currently focused on the planning and design of the Maverick 1 ( " M1H " ) horizontal well in Tamboran's 100 % owned EP 136 permit . Tamboran Resources Limited ( ASX : TBN ) Managing Director and CEO , Joel Riddle said : " Tamboran successfully listed on the ASX on 2 July and is contributing to the most active drilling season that we have seen to date in the Core Beetaloo Sub - basin . Tamboran is participating in the drilling of two horizontal wells with Santos QNT Pty Ltd ( " Santos " ) , our joint venture partner in EP 161 . " We are coming to the end of our 2021 drilling campaign , and the focus will now move to fracture stimulation and flow testing of both wells . The data and information gathered from this testing program will aid in the design and implementation of our operated 2022 drilling operations in our 100 % owned EP 136 , located adjacent to EP 161. We are confident that the EP 161 and EP 136 drilling will de - risk the core area of the Beetaloo Sub - basin and , assuming commercial flow rates are established , we intend to use the data gathered to plan for future pilot development on our EP 136 permit . " The Core Beetaloo Sub - basin is recognised as one of the most prolific potential natural gas resources in Australia with national significance . The natural gas discovered to date in the Beetaloo has low CO2 content and our assets have considerable potential to provide a new and material source of energy for Australia's energy needs as the country transitions to a lower emissions future . " Tamboran Resources Limited ABN 28 135 299 062 110-112 The Corso Manly NSW 2095 , Australia +61 2 8330 6626 www.tamboran.com