That Major Revaluation of Gold Is Coming

TBN – Tamboran Resources

Development of Beetaloo Basin

• Amungee 2H drilling complete
  • 2413m vertical depth
  • 1275m horizontal section
• Drilling completed in December in 38 days and under budgeted cost and time
• 5 1/2 inch casing will allow higher sand and fluid input rates and higher gas outflow volumes
• 24 stages planned for fraccing
• Awaiting weather clearing to mobilize fraccing fleet in March Qtr
• 5TCF 2P reserves targeted for 2025 worth A$6bn
• Market cap A$ 353m @ A$0.25 on 1,416m shares

TBN has successfully drilled its two operated wells much faster than Santos and Origin. Faster wells are cheaper wells (daily rig rate cost)

• 5 1/2 inch casing will allow higher sand and fluid input rates and higher gas outflow volumes

• • 5 1/2 inch casing has a 22% larger diameter than 4 1/2 inch but has a 50% higher diameter area.

Net Undiscovered Prospective Resources 116TCF

TBN – Also Developing into Something Special

• Downward sloping wedge
• Break out
• Backtest
• Moving higher

Opportunity is knocking. Timing is everything.

Disclosures:

1) Barry Dawes: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: My company, has a consulting relationship with: None.

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