Page 12 - AsianOil Week 10 2022

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consistently at 40 barrels permn cubic feet of for shareholder distributions with growth cent owned and operated permit in the ‘Core’
gas. This rate will require verification from investments,” Mr Calabria said. Beetaloo Sub-basin. Subject to the delivery
laboratory analysis of the collected pressurised Further capital management initiatives of commercial flow rates from the M1H well,
samples. These laboratory measurements will may be considered over time, subject to Tamboran plans to expedite the proposed
also determine the amount of LPG in the gas. operating conditions and capital allocation Maverick Pilot Development within EP 136,
Minor amounts of high salinity completion alternatives. which could target first gas deliveries to the
fluid were continuing to be produced as the ORIGIN ENERGY, March 09, 2022 Australian domestic market by the end of
well cleaned up. calendar year 2025.
“The award of the grant reflects the
BURU ENERGY, March 08, 2022 Tamboran awarded grant support and ongoing commitment of
Origin to undertake of up to AUD7.5mn under the Commonwealth Government to the
development of the Beetaloo Sub-basin as a
AUD250mn share buy-back the Beetaloo Cooperative new source of low carbon dioxide natural gas
for Australia to promote jobs, manufacturing
Origin Energy has announced it intends to Drilling Program and, importantly, national energy security.
undertake an initial on-market share buy- “Santos, our joint venture partner and
back of AUD250mn. Tamboran Resources managing director and operator of EP 161, successfully drilled the
The share buy-back is expected to CEO, Joel Riddle, said: “We are pleased to Tanumbirini 2H and 3H wells, which are
commence in April 2022. announce that Sweetpea, a wholly owned currently undergoing extended flow testing.
Origin CEO Frank Calabria said: “Origin subsidiary of Tamboran, has received an These wells have already provided valuable
is in a strong financial position, with a approved grant for up to $7.5mn through information and learnings that has validated
robust outlook for the business and a capital the Beetaloo Cooperative Drilling Program our Mid-Velkerri “B” shale model and details
structure comfortably within our target range. initiative provided by the Commonwealth for the design and execution of our drilling
“This means we are now in a position to Government of Australia. programme on EP 136 during calendar year
increase shareholder distributions with a share “The funding is intended to support 2022.”
buy-back of AUD250mn. up to 25% of the costs of drilling, fracture TAMBORAN RESOURCES, March 07, 2022
“Going forward, we will continue to stimulation and flow testing of the M1H well,
balance expected increased cash flow available limited to $7.5mn, in EP 136, our 100 per

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