Tamboran Resources Limited (TBNRF) EP 98 Operational Update

2022-12-22 17:50 ET - News Release

Sydney, Australia, Dec 23, 2022 - (ABN Newswire) - Tamboran Resources Limited (ASX:TBN) (OTCMKTS:TBNRF) report that the Amungee 2H (A2H) in EP 98 was successfully drilled to a total depth (TD) of 3,883 metres, including a 1,275-metre horizontal section, which was placed in the most prospective zone within the Mid-Velkerri "B Shale" formation. The well encountered significant gas shows within the Mid-Velkerri "B Shale" formation, in line with pre-drill expectations.

The A2H well has been drilled and cased with 5-1/2 inch casing, the optimal casing size to place a high intensity stimulation and on par with modern US unconventional drilling designs.

The well was drilled in 38 days (spud to TD) at a total cost of $14.1 million (excluding casing and cementing), slightly ahead of pre-drill design days and budget.

Tamboran is planning up to 24 stimulation stages within the Mid-Velkerri "B Shale", expected to commence during the first quarter of calendar year 2023, subject to weather conditions.

Tamboran is fully funding the drilling, stimulation and flow testing of the A2H well, in accordance with the Stage 3 farm-in agreement (FIA) between Tamboran and Falcon Oil & Gas Australia Limited (Falcon).

A comprehensive review of all data across the recently acquired acreage is currently underway. Once finalised, the location of the second and final well of FIA will be selected.

Tamboran Resources Limited Managing Director and CEO, Joel Riddle, said:

"We are pleased to have drilled and cased the A2H well ahead of budget and schedule. The well intersected the Mid-Velkerri 'B Shale' at 2,413 metres vertical depth, in line with pre-drill expectation. The well was drilled with a 1,275-metre horizontal section, which is planned to be stimulated with up to 24 stages during the first quarter of calendar year 2023, subject to weather conditions.

"The key objective of drilling, stimulating and flow testing the A2H well over the 1,275-metre horizontal section is to determine the gas deliverability of the Mid-Velkerri 'B Shale' in the deeper regions of the Beetaloo Basin. Importantly, the well was completed with 5-1/2 inch casing, on par with modern US unconventional drilling designs.

"From our team's experience in drilling unconventional wells in North America, this is the optimal casing size to place a high intensity stimulation. The larger casing diameter is expected to deliver sand and fluid at an increased rate to the perforations during the stimulation. This is a proven concept that has been known to deliver significantly higher production rates and Estimated Ultimate Recovery (EUR) than smaller casing diameter.

"The drilling operations have been performed safely, with no recordable injuries or reportable environmental incidents to date. This is a huge credit to our team, and our contractors, who have enabled a smooth transfer of operatorship since Tamboran's acquisition of Origin's Beetaloo assets in early November 2022.

"The location of the second well, which is targeted to be drilled in 2023, is under review. The site will be finalised following the completion of a comprehensive review of the data within the newly acquired EP 76/98/117 acreage."

Take away: Do not sell any of your shares under $10.00

2022-11-10 12:52 ET - News Release

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. - SPUDDING OF AMUNGEE 2H DEVELOPMENT WELL IN EXPLORATION PERMIT 98

Falcon Oil & Gas Ltd. spudded the Amungee 2H development well (A2H) with the Silver City Rig 40 on Nov. 2022, on EP 98 in the Beetaloo subbasin, Northern Territory, Australia, with Falcon Oil & Gas Australia Ltd.'s joint venture partner, Tamboran B1 Pty. Ltd.

Tamboran B1 is a 50:50 joint venture partnership between Daly Waters Energy, LP and Tamboran Resources Limited ("Tamboran"), with Tamboran appointed as operator across the exploration permits.

Tamboran will drill the vertical and build section to a depth of approximately 2,450 metres, followed by the drilling of a 1,000 metre horizontal section within the primary target of the Amungee Member B Shale (formerly known as the Middle Velkerri B-shale).

Following drilling, the A2H well is expected to commence a hydraulic fracture stimulation programme with a US style unconventional shale design. The well is designed with 5- one-half inch casing to allow for effective placement of proppant into the formation, optimizing completion efficiency.

This is the first of two horizontal wells in the Stage 3 programme to be drilled during this current drilling campaign. The precise location of the second horizontal well, also targeting the Amungee Member B shale is currently being evaluated, and an update will be provided in due course. Philip O ' Quigley , Falcon's CEO , commented :

"The spudding of the A2H development well is an exciting first step for the planned two horizontal wells of the Stage 3 work programme with our new JV partner, Tamboran B1. This follows a successful production log test in September last year at Amungee NW-1H which suggested normalised gas flow rate equivalent to around 5,000 Mscf/d per 1,000 metres of horizontal section. Obtaining production rates over the first 30 days between 2,000-3,000 Mscf/d on the Stage 3 wells will support the JV moving to a multi-well pilot development program in 2023/2024. Falcon remains fully carried for the drilling and fracture stimulation of the A2H well."

Ends. CONTACT DETAILS: Falcon Oil & Gas Ltd. +353 1 676 8702 Philip O'Quigley, CEO +353 87 814 7042 Anne Flynn, CFO +353 1 676 9162 Cenkos Securities plc (NOMAD & Broker) Neil McDonald / Derrick Lee +44 131 220 9771

This announcement has been reviewed by Dr. Gabor Bada, Falcon Oil & Gas Ltd's Head of Technical Operations. Dr. Bada obtained his geology degree at the Eotvos L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG.

About Falcon Oil & Gas Ltd.

Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia, South Africa and Hungary. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland with a technical team based in Budapest, Hungary.

Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd. For further information on Falcon Oil & Gas Ltd. please visit www.falconoilandgas.com About Tamboran (B1) Pty Limited

Take away: Do not sell any of your shares under $10.00

Take away: Do not sell under $10.00

2021-11-12 09:18 ET - News Release 

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. - PRELIMINARY PETROPHYSICS AND MUD GAS COMPOSITION FROM VELKERRI 76 S2-1 WELL

Falcon Oil & Gas Ltd. has provided details on the preliminary petrophysical interpretation and mud gas composition data from the Velkerri 76 S2-1 vertical appraisal well in the Beetaloo subbasin, Northern Territory, Australia, with the company's joint venture partner Origin Energy B2 Pty. Ltd., a wholly owned subsidiary of Origin Energy Ltd.

On Oct. 15, 2021, the company announced that drilling of the Velkerri 76 well had been completed and preliminary evaluation of the results had been very encouraging.

The preliminary petrophysical interpretation of the Velkerri-76 wireline logs has now been carried out, which has confirmed positive indications in particular from the B shale of the Amungee member (formerly known as the Middle Velkerri). Other intervals within the Amungee member also show positive indications and further analysis will now be undertaken to confirm these results.

The Amungee member B shale was the principal area of focus with Falcon's operations at Amungee NW-1H and the results obtained to date compare very favourably with some of the most commercially successful shale plays in North America. The Amungee Member B shale is also the focus of activities in the neighbouring Santos and Empire Resources operated blocks.

Mud gas composition data also provides evidence that the Amungee member is within the wet gas maturity window and contains good LPG yields and high heating gas value.

Key information with respect to the preliminary petrophysics and mud gas composition of the Amungee member B shale are included in the attached table.

The results of preliminary petrophysical interpretation confirm: 

• The prospectivity of the Amungee member B shale.
• Reservoir quality of the B shale (TOC, porosity and gross thickness) compares strongly with commercial shale plays in the United States.
• The Velkerri 76 S2-1 well provides yet another robust data point for the joint venture to consider various commercialization options across its permits.

Additional analysis of the conventional core acquired during the drilling of Velkerri 76 will be required to confirm the preliminary petrophysics interpretation and will take place over the coming months.

Laboratory analysis of gas samples collected during drilling will be carried out to further refine gas composition data within the Amungee member shale intervals. 

Philip O'Quigley, chief executive officer of Falcon, commented: "The preliminary petrophysical interpretation of the Velkerri 76 wireline logs is excellent news with the Middle Velkerri B shale comparing favourably to some of the most commercially successful shale plays in North America. These results are further evidence of the increasing significance of the Velkerri play, with results still to come from flow testing of two horizontal wells at the neighbouring Santos-operated blocks also targeting the Velkerri play."

.

I could have predicted in advence the arrival of Boo-birds also known as the Backroomroom Boy's minions. They will try to convince you that the precious stone in your hand is nothing but a piece of black coal.

2021-09-03 06:02 ET - News Release

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. - AMUNGEE NW-1H - NORMALISED GAS FLOW RATE EQUIVALENT TO 5 MMSCF/D PER 1,000M HORIZONTAL

Falcon Oil & Gas Ltd. has provided results of the production log test at the Amungee NW-1H well. The results suggest a normalized gas flow rate equivalent of between 5.2 million to 5.8 million standard cubic feet per day per 1,000 metres of horizontal section.

Amungee is located in the Beetaloo subbasin, Northern Territory, Australia, and the testing conducted is part of the 2021 work program, which is operated by Falcon's joint venture partner, Origin Energy B2 Pty. Ltd., a wholly owned subsidiary of Origin Energy Ltd.

Amungee background: 

• It is located in exploration permit 98, approximately 60 kilometres east of Daly Waters, just south of the Carpentaria Highway.
• It was the first horizontal well to be drilled and first well to be fracked with Falcon's JV partner and operator, Origin.
• In November, 2015, the JV successfully drilled the well to a total measured depth of 3,808 m, including a 1,100 m horizontal section.
• In September, 2016, 11 hydraulic stimulation stages were completed along the horizontal section in the Middle Velkerri B shale zone.
• In December, 2016, a 57-day extended production test (EPT) was completed, with production averaging 1.10 mmscf/d.
• In February, 2017, the results of evaluation of the discovery and preliminary estimate of petroleum in place were published for the Velkerri B shale gas pool, confirming a gross contingent resource of 6.6 trillion cubic feet, 1.46 trillion cubic feet net to Falcon; full details are contained in Falcon's annual information form. 

Details of Amungee testing: 

• The well was successfully put back on production testing on Aug. 7, 2021.
• Initial flow rates during the first 48 hours of testing ranged between two million and four million standard cubic feet per day with rates averaging 1.23 mmscf/d over the first 23 days.
• A PLT was run on Aug. 19, 2021, to 3,098 metres measured depth, just prior to the casing deformation at 3,112 m md.
• The PLT data confirm that: Only 5 to 15 per cent of the production came from stages 1 to 7 beyond the casing deformation point at 3,112 m md. Eighty-five to 95 per cent of the production came from stages 8 to 11, spanning a 200 m horizontal section, prior to the casing deformation.
• The low contribution from stages 1 to 7 is likely the result of a restriction caused by the casing deformation or the plugs having not milled out, or both.
• Conclusion: Stages 8 to 11 may be representative of the deliverability that can be achieved within the Middle Velkerri B shale at Amungee.
• The PLT test results equate to a normalized gas flow rate of between 5.2 million and 5.8 million standard cubic feet per day per 1,000 m of horizontal section.
• A typical future production well would be likely to have a horizontal production section of up to three kilometres.
• The result validates the decision to undertake a second EPT in order to run a PLT. 

Philip O'Quigley, chief executive officer of Falcon, commented: "With our unique and extensive position in the Beetaloo subbasin, this is really exciting news for Falcon shareholders and this significant development provides line of sight to the commercialization of the Beetaloo, for which we remain carried for further activity.

"A recent report by an industry analyst suggests that gas flows greater than three mmscf/d from a 1,000 m horizontal well are required to demonstrate the commerciality of the Beetaloo. Not only does this test result significantly exceed these parameters and significantly increase our assessment of the Velkerri dry gas play, but it also puts the Beetaloo on a par with other shale gas basins in North America.

"While we wait for further news from our operations at Kyalla 117 N2-1H ST2 and Velkerri 76 S2-1, we look forward to working with our JV partner, Origin, in establishing the next phase of work on the Middle Velkerri B shale.

"With other drilling activity in neighbouring Santos-operated blocks targeting the Velkerri dry gas play, this is an important moment for the nationally significant Beetaloo subbasin."

Take away:

Do not sell any of your Falcon shares under $10.00

The Beetaloo Strategic Basin Plan released as part of the gas-fired economic recovery 

For blind minions…..see link below

https://falconoilandgas.com/company-presentations/#1541158622782-52acf8a2-2f7

Sooo.. If you Boys want our shares you can start paying $10.00 

So hold and do not sell any of your shares under $10.00 

Apparently the manipulators are back. Many thanks to the BackroomBoys to prove just how badly they yearn to possess your Falcon shares.