Tamboran Resources Secures First NT Government Approval To Sell Appraisal Gas Under BUG Legislation From Beetaloo Basin

Author: Benzinga Newsdesk | September 02, 2025 09:14am

• Tamboran Resources Corporation has received approval from the Northern Territory Government (NTG) to sell appraisal gas from its exploration permits in the Beetaloo Basin under the Beneficial Use of Gas (BUG) legislation.
• This is the first approval granted by the NTG through the new BUG legislation and follows the recent consent from Native Title Holders for the sale of up to 60 TJ per day from the Shenandoah South (SS) Pilot Project over a three-year period.
• The Beetaloo Joint Venture (BJV) now holds all necessary approvals to sell gas from the SS Pilot Project. The project aims to begin gas sales of up to 40 TJ per day to the NTG under a binding Gas Sales Agreement (GSA) commencing in mid-2026, subject to weather conditions.
• Drilling of the three remaining wells required for plateau production for delivery into the GSA is progressing, with the intermediate section completed on all three wells. Tamboran is currently drilling the horizontal section in the Mid Velkerri B Shale at the SS-5H well.
• Stimulation of the SS-4H well is planned for 4Q 2025, followed by a 30-day flow test before being connected to the Sturt Plateau Compression Facility (SPCF) for gas sales to the NTG.

Tamboran Resources Corporation (NYSE:TBN, ASX: TBN))

Tamboran Resources Corporation Chairman and Interim CEO, Richard Stoneburner, said:

"The BJV has secured an important milestone, being the first joint venture to secure NTG approval to sell gas under the BUG legislation. This approval will allow the BJV to sell gas to the NTG under a long-term GSA, delivering energy security to Territorians.

"The BUG legislation has been a significant initiative undertaken by the Government, which allows for gas volumes to be sold into the market during the exploration and appraisal phase of the project life. Gas that would have historically been flared on site will now be delivered into the local Northern Territory gas market, delivering much needed energy security to the market that is predominantly powered by gas. It will also deliver accelerated royalties to the NTG and Native Title Holders.

"We thank the NTG and Native Title Holders for their support in securing such a historic milestone and we look forward to continuing to work alongside these key stakeholders as we unlock the potential of the Beetaloo Basin."

This announcement was approved and authorised for release by Dick Stoneburner, the Chairman and Interim Chief Executive Officer of Tamboran Resources Corporation.

About Tamboran Resources Corporation

Tamboran Resources Corporation ("Tamboran" or the "Company"), through its subsidiaries, is the largest acreage holder and operator with approximately 1.9 million net prospective acres in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia.

Tamboran's key assets include a 47.5% operating interest over 20,309 acres in the proposed northern Pilot Area, a 38.75% non-operating interest over 20,309 acres in the proposed southern Pilot Area, a 58.13% operating interest in the proposed Phase 2 development area covering 406,693 acres, a 67.83% operated interest over 219,030 acres in a proposed Retention License 10, a 77.5% operating interest across 1,487,418 acres over ex-EPs 76, 98 and 117, a 100% working interest and operatorship in EP 136 and a 25% non-operated working interest in EP 161, which are all located in the Beetaloo Basin.

The Company has also secured ~420 acres (170 hectares) of land at the Middle Arm Sustainable Development Precinct in Darwin, the location of Tamboran's proposed NTLNG project. Pre-FEED activities are being undertaken by Bechtel Corporation.

Posted In: TBN