Anish Kapadia

Anish Kapadia of Hannam & Partners requested an update on the SPCF funding, asking if Tamboran Resources is still considering a sell-down or debt funding and if this would ensure full funding to first gas. He also inquired about the nearer-term upside potential beyond the current 40 MMcf/day plan, specifically regarding unmet local market demand in the 2027-2028 timeframe. Finally, Kapadia asked for Tamboran's thoughts on Santos's planned drilling in EP161 in mid-next year and Tamboran's participation.

Answer

Eric Dyer, CFO, confirmed that Tamboran is pursuing an infrastructure debt facility for the SPCF, with about $20 million gross spent to date and a balance of $70-80 million needed. He noted strong interest and opportunities to expand the facility for modest incremental cost to meet additional local demand, potentially through sell-down or debt, subject to approvals. Dick Stoneburner, Chairman and Interim CEO, expressed excitement about Santos's two-well drilling program in EP161 for 2026, noting the area's potential and Tamboran's plan to participate, expecting significantly improved results over past tests due to better well design.

Anish Kapadia with Hannam & Partners posed several questions, including an update on the SPCF funding strategy (sell-down vs. debt funding) and whether Tamboran Resources would be fully funded to first gas. He also asked about the nearer-term upside potential beyond the planned 40 MMcf/day, specifically if there's scope for increased local market sales in the 2027-2028 timeframe. Finally, Kapadia sought Tamboran's thoughts on Santos's planned drilling in EP161 in mid-next year and Tamboran's participation.

Answer

Eric Dyer, CFO, confirmed that Tamboran is pursuing an infrastructure debt facility for the SPCF, with good interest, and noted the potential to expand the facility for modest incremental cost to meet additional unmet local demand. Dick Stoneburner, Chair & Interim CEO, expressed excitement about Santos's two-well drilling program in EP161 for 2026, noting the area's potential and Tamboran's plan to participate, expecting significantly better results than previous tests due to improved well design.

Anish Kapadia asked for an update on the funding strategy for the SPCF facility (sell-down or debt) and whether it ensures full funding to first gas, the potential for selling more gas into the local market beyond 40 MMcf/day in 2027-2028, and Tamboran Resources' thoughts and participation in Santos's planned drilling in EP161 in mid-2026.

Answer

CFO Eric Dyer confirmed they are pursuing an infrastructure debt facility for the SPCF, with good interest, and noted opportunities to sell down a portion. He highlighted the potential to expand the facility at modest incremental cost to double production, addressing unmet local demand. Chairman and Interim CEO Dick Stoneburner expressed excitement for Santos's two-well drilling program in EP161 in 2026, confirming Tamboran's planned participation and anticipating significantly better results than previous wells due to improved design.