News and Announcements
ASX-Listed Gas Company Plans to Lead Global Energy Industry Transition to Low-Carbon Future
- Published July 26, 2021 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
“It is a challenging environment in oil and gas, but we have found that there is very supportive investor demand for our net-zero Australian gas strategy. Our company is well-positioned to
deliver the first commercial development at the Northern Territory’s Beetaloo Sub-basin by 2025.”
Joel Riddle, Director & CEO, Tamboran Resources
Executive Summary
Tamboran Resources (ASX: TBN) is a public natural gas company with a vision of supporting the net zero CO2 energy transition in Australia and the Asia-Pacific by developing low CO2 unconventional gas resources in the Northern Territory of Australia. In doing so, it intends to play a constructive leading role in the global energy transition towards a lower-carbon future.
Tamboran holds premium acreage in the highly prospective Beetaloo/McArthur basin. By commercialising resources, the company strategically addresses an expected domestic energy shortfall and acts as a feed supplier to existing Australian LNG plants. Its key assets include a 25% working interest in EP 161 and a 100% working interest in EP 136, EP 143, and EP(A) 197, all located in the Beetaloo Sub-basin.
Tamboran has established its headquarters in Sydney, Australia. It has a globally competitive management team that leverages deep industry experience and a wealth of knowledge regarding modern shale reservoir assessments and cutting-edge drilling and completion design technologies.
Investment Highlights
- The development in the Beetaloo Sub-basin has already received a high level of government and Northern Territory support. The Federal Government announced $50M in incentives for the industry to accelerate gas exploration and production in the area.
- Tamboran’s directors and management team have significant resources, financial experience, and deep knowledge of Tamboran, developed through effective management and control.
- Tamboran’s assets located in the core Beetaloo Sub-basin have a high potential.
- It is estimated that net prospective resources in EP 161 and EP 136 total approximately 31 Tcf. These resources consist of a 25% non-operating interest in EP 161 with an estimated 12 Tcf net prospective resource and a 100% working interest in EP 136 with an estimated 19 Tcf net prospective resource.
- The company can potentially work with Jemena (a company that owns and operates energy assets across the east coast of Australia) on an infrastructure solution that provides a commercial pathway to supply the domestic gas market in Australia.
Investment Offering
Tamboran Resources intends to raise a minimum of $60M and a maximum of $66M at $0.40 per share. Visit the company’s ASX listing or click on the button below to learn more.