Article The Australian
Ben Packham
26 January 2024

Tamboran ’excited’ by imminent drilling results as Beetaloo development accelerates

Tamboran Resources, which is plotting to become a major supplier of gas to Australia’s east coast and of LNG to regional neighbours, is excited about soon-to-be-released drilling results, the company’s chief executive said, hinting the Northern Territory resource project that has emerged as a lightning rod for opponents is edging closer to realisation.

Strong drilling results from Tamboran’s latest exploration campaign will bolster confidence that the Beetaloo region could emerge as a major source of gas in Australia, relieving tight domestic supplies. But it will exacerbate environmental opposition to unlocking the region for fossil fuel exploitation.

Tamboran last year began its initial drilling campaign, with chief executive Joel Riddle hinting that the market would be pleased by the round of results.

“We have well tests that we are going to be announcing in late February. We are encouraged and excited about the pending results of that well. This has clearly shown that the geology of the area that we have selected and targeting first development has the best resource potential in all of the Beetaloo. It has the biggest and highest pressure gaps in all of the Basin,” Mr Riddle said.

Strong results will bolster confidence within Tamboran and supporters of extracting gas from the NT.

Tamboran expects to produce first gas from drilling in 2025, which will be sold to Origin Energy under an existing agreement struck when Australia’s largest electricity and gas retailer sold the exploration rights.