Tamboran Resources Corporation (TBN: ASX, NYSE), an Australian company focused on developing natural gas resources, has announced a landmark agreement with Native Title Holders and the Northern Land Council, securing approval for the sale of appraisal gas from its Exploration Permits in the Beetaloo Basin. This agreement allows the Beetaloo Joint Venture (BJV) to sell up to 60 terajoules per day of appraisal gas from EP 98 and EP 117, originating from the proposed Shenandoah South Pilot Project, over a three-year period. The BJV will now focus on obtaining the necessary approvals to support longer-term production.
The agreement is a crucial step for Tamboran, as it provides Native Title Holder consent for the sale and beneficial use of gas recovered on an appraisal basis. The company has already contracted an initial 40 million cubic feet per day to supply the Northern Territory Government until mid-2041, which is expected to enhance energy security for Territorians. First gas is anticipated in mid-2026, contingent upon weather conditions and customary stakeholder approvals.
Richard Stoneburner, Chairman and Interim CEO of Tamboran Resources, hailed the agreement as a ‘significant moment’ for the company, making them the first operator in the Beetaloo Basin to secure Native Title Holder approval for gas sales under the legislated appraisal framework. He expressed gratitude to the Native Title Holders and the Northern Land Council for their support and highlighted the financial and non-financial benefits the agreement will bring to the local community, including job creation and business opportunities.
Tamboran Resources affirmed its commitment to maintaining strong working relationships with Native Title Holders across its operated acreage. The company plans to continue delivering financial benefits, training, employment, and contracting opportunities to the Native Title Holders and the local community. Tamboran will continue collaborating with Native Title Holders and the Northern Land Council to ensure the Beetaloo development is a genuine partnership that yields substantial and enduring economic and social benefits.
