Directors bought 1.5 million shares on or about 31 March 2022 Directors bought another 260,000 shares on or about 5 April. All listed as on market purchases. From Investor presentation 23 March 2022.
At 27 cents market capitalisation $200 milion Cash on hand $68 million Giving Enterprise value of $132 million
Tamboran interest in Beetaloo EP 136 100% and operator. EP 161 25% and Santos owns 75% and is operator. Commercial flow rates have been achieved on testing in EP161
Targeting initial 2P reserve booking of 1 TCF, In EP 136 by end of calendar 2025. Prospective gas reserves of 31 TCF. Cooper basin is quoted as having 2P reserves of 1TCF for comparison.
Targeting initial gas sales by end of calendar year 2025: at $2 to $3 per GJ well head cost.
Beetaloo Basin earmarked by the government as highly strategic for the future direction of Australian gas supply with significant upside potential to convert multi-TCF resources into large 2P reserves.
Tamboran Focus for 2022
Delivering on ambition to accelerate commercialisation of ‘Core’ Beetaloo ❑ H1 2022: Acquire 90 kilometres of 2D seismic over ‘Core’ Beetaloo acreage. ❑ Mid-2022: Commence drill and fracture stimulate of M1H, targeting confirmation of commercial flow rates within EP 136. ❑ H2 2022: Target initial booking of 2C contingent resources from EP 136. ❑ H2 2022: Finalise Jemena-Tamboran Joint Venture (“JTJV”) MOU to align upstream and midstream interests ❑ 2022: Continue flow testing of Tanumbirini 2H and 3H wells, subject to further test results. ❑ 2022: Prepare plans for proposed Maverick Pilot Development.
TBN Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
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