(“Falcon”)
Binding Term Sheet for Gas Sales Agreement to supply pilot gas to the Northern Territory Government
Details of the Binding Agreement are as follows:
- Gas will be delivered to the APA-owned Amadeus Gas Pipeline (AGP) on a take-or-pay basis at a market-competitive gas price, escalating at 100% of the Consumer Price Index (CPI). The Buyer’s extension option is at a slightly discounted price.
- The Agreement is a binding supply commitment conditional on the BJV entering into a binding Gas Transportation Agreement with APA on the proposed Sturt Plateau Pipeline, a binding Gas Processing Agreement for the proposed Sturt Plateau Compression Facility, reaching a Final Investment Decision (FID) on upstream drilling activity and receiving all necessary approvals to proceed with these projects.
- The BJV is targeting FID on the proposed 40 TJ (38,000 MCF/D) per day upstream drilling program in mid-2024, subject to securing funding and key regulatory and stakeholder approvals. First gas flow is planned for H1 2026.
Falcon Oil & Gas Australia Limited holds a 5% working interest in the 51,200-acre area that will include the wells required to deliver the proposedPilot Project volumes.
Philip O’Quigley, CEO of Falcon commented:
“This is a significant development for Beetaloo Joint Venture, and represents a major milestone and puts the Beetaloo Joint Venture on a path where revenue from gas sales will support funding our future development phases, including supply to the
Ends.
CONTACT DETAILS:
+353 1 676 8702 | |
+353 87 814 7042 | |
+353 1 676 9162 | |
Cavendish | |
+44 131 220 9771 | |
+44 20 7186 9033 |
About
For further information on
About Beetaloo Joint Venture (“BJV”) (EP 76, 98 and 117)
EP 98/117 interests
Company | Interest |
77.5% | |
22.5% | |
Total | 100.0% |
Shenandoah South-1 DSU – 20,480 acres
Company | Interest |
77.5% | |
22.5% | |
Total | 100.0% |
Shenandoah South-2 DSU – 51,200 acres
Company | Interest |
95.0% | |
5.0% | |
Total | 100.0% |
Glossary
BCF | Billion cubic feet |
FID | Final investment decision |
MCF/D | Thousand cubic feet per day |
PJ | PetaJoules |
TJ | Terajoule |
About
Tamboran Resources Limited, is a natural gas company listed on the ASX (TBN) and
Advisory regarding forward looking statements
Certain information in this press release may constitute forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information typically contains statements with words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “dependent”, “consider” “potential”, “scheduled”, “forecast”, “outlook”, “budget”, “hope”, “suggest”, “support” “planned”, “approximately”, “potential” or the negative of those terms or similar words suggesting future outcomes. In particular, forward-looking information in this press release includes, but is not limited to, information relating to the signed Binding Agreement for a long-term GSA suppling the Buyer with 14.6 PJ (13.8 BCF) per annum from the proposed
This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. The risks, assumptions and other factors that could influence actual results include risks associated with fluctuations in market prices for shale gas; risks related to the exploration, development and production of shale gas reserves; general economic, market and business conditions; substantial capital requirements; uncertainties inherent in estimating quantities of reserves and resources; extent of, and cost of compliance with, government laws and regulations and the effect of changes in such laws and regulations; the need to obtain regulatory approvals before development commences; environmental risks and hazards and the cost of compliance with environmental regulations; aboriginal claims; inherent risks and hazards with operations such as mechanical or pipe failure, cratering and other dangerous conditions; potential cost overruns, drilling wells is speculative, often involving significant costs that may be more than estimated and may not result in any discoveries; variations in foreign exchange rates; competition for capital, equipment, new leases, pipeline capacity and skilled personnel; the failure of the holder of licenses, leases and permits to meet requirements of such; changes in royalty regimes; failure to accurately estimate abandonment and reclamation costs; inaccurate estimates and assumptions by management and their joint venture partners; effectiveness of internal controls; the potential lack of available drilling equipment; failure to obtain or keep key personnel; title deficiencies; geo-political risks; and risk of litigation.
Readers are cautioned that the foregoing list of important factors is not exhaustive and that these factors and risks are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at www.sedarplus.com, including under "Risk Factors" in the Annual Information Form.
Neither the
Source:
2024 GlobeNewswire, Inc., source