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Tamboran Resources Corp TBN

Alternate Symbol(s):  TBNRL

Tamboran Resources Corporation is a natural gas company. The Company is focused on supporting the net-zero carbon dioxide (CO2) energy transition in Australia and Asia-Pacific through developing low CO2 unconventional gas resources in the Northern Territory of Australia. It operates approximately 1.9 million net prospective acres in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. The Beetaloo Basin is located in the Northern Territory of Australia, approximately 600 kilometers south of Darwin. Its key assets include a 38.75% working interest and operatorship in EPs 98, 117 and 76, 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. EP 161 permit covers approximately 540,000 prospective acres. It is also focused on developing the proposed Shenandoah South Pilot Project and Northern Territory LNG (NTLNG) development at Middle Arm in Darwin.


NYSE:TBN - Post by User

Post by Ebenizer3on Apr 25, 2023 8:33am
93 Views
Post# 35411973

Tamboran wins court case, HP drill rig arrives in Darwin...

Tamboran wins court case, HP drill rig arrives in Darwin...
ABC News

Beetaloo Basin cattle company loses Supreme Court bid to stop fracking exploration

By Daniel Fitzgerald
Posted  updated 
A gas exploration well in the desert, surrounded by a drill rig and equipment.
Tamboran Resources and its subsidiary Sweetpea have a number of exploration wells across the Beetaloo Basin.(Supplied: Tamboran Resources)

A gas company will be able to continue exploration in the Beetaloo Basin after a cattle company's appeal to stop the activity was dismissed by the Northern Territory Supreme Court.

Rallen Australia, owned by the Langenhoven-Ravazotti family, had sought to overturn a February 2022 NT Civil and Administrative Tribunal decision that allowed Tamboran Resources' subsidiary Sweetpea Petroleum to come onto Tanumbirini Station to explore for gas.

Justice Peter Barr dismissed all eight grounds of appeal that Rallen's lawyers had argued.

The case was seen as a precedent for legal interactions between pastoralists and gas companies because it was the first to test mandatory land access laws introduced in the NT in 2021.

Tamboran chief executive and managing director Joel Riddle said in a statement that he was "pleased with the NT Supreme Court's ruling" and was looking forward "to working closely with all our stakeholders in progressing the development of the Beetaloo Basin in a safe and responsible manner".

"As the first challenge of the NT government's changes to the legislation and regulations permitting access for exploration purposes, the decision sets an important precedent for future operations across the Beetaloo Basin," he said.

A man with short, greying hair and a woman with long, blonde, frizzy hair stand outdoors, looking serious.
Pierre Langenhoven and Luciana Ravazzotti are staunchly opposed to fracking on their cattle stations.(ABC News: Hamish Harty)

Rallen weighs appeal options

Rallen has fiercely opposed any gas exploration on its properties and director Pierre Langenhoven previously declared the pastoral and gas industry "cannot coexist".

Mr Langenhoven said Rallen would "consider this decision and our appeal options" for the Supreme Court decision.

"We are disappointed in the decision, as the land access agreement provides minimum protections to pastoralists and puts all the risk and all the cost onto the pastoralist," he said in a statement.

Heavy earthmoving equipment lined up in scrubland.
Sweetpea started exploration works on Tanumbirini Station in May 2022.(Facebook: Nurrdalinji Aboriginal Corporation)

Sweetpea/Tamboran entered Tanumbirini in May 2022 under the terms of its exploration permit, but against the wishes of Rallen and some traditional owners.

Since then, Mr Langenhoven said he felt like he had "lost control" of the part of Tanumbirini within Sweetpea's permit area.

"I cannot protect the station and my cattle from the impacts of fracking, all I can do is monitor and seek compensation after the damage is done," he said.

Rallen Australia will receive a minimum of $15,000 compensation per gas well drilled on the property as a part of its land access agreement with Sweetpea.

Drill rig equipment being loaded onto a ship at a port.
The Helmerich & Payne drill rig was sent from the Port of Houston and unloaded in Darwin this week.(Supplied: Tamboran Resources)

Australia's 'most powerful' rig

This week Tamboran unloaded what it has labelled Australia's "most powerful onshore drilling rig" from a ship at Darwin Port.

Anti-fracking protesters gathered out the front of the port on Wednesday to voice their opposition to the use of the drill rig and fracking in the Beetaloo.

Tamboran said the drill rig, imported from the US, was capable of drilling horizontal wells more than 4,000 metres in length.

Tamboran has contracted the rig for a minimum of two years and is currently "evaluating the opportunity" to use it to drill a 3,000 metre horizontal section in an existing well on Tanumbirini Station in mid-2023.

The NT government is expected to make a final decision on whether to allow commercial development of the Beetaloo Basin in the coming weeks.


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