Financial Data and Key Metrics Changes - The company ended 2025 with a cash balance of $91 million and a drawn debt of $16 million related to the construction of the Sturt Plateau Compression Facility (SPCF) [7][16] - Since the end of the year, Tamboran received $32 million from a PIPE transaction and expects an additional $15 million from an acreage sale to DWE [7][16] Business Line Data and Key Metrics Changes - The second quarter of fiscal 2026 saw the completion of the largest stimulation program in the Beetaloo Basin, achieving 58 stages across a 10,009-foot horizontal section [4] - Construction of the SPCF is approximately 80% complete, with key contracts awarded for electrical work, remaining on budget and on track for first gas in the third quarter of 2026 [5][14] Market Data and Key Metrics Changes - The Beetaloo Basin is connected to three attractive gas markets: the NT local gas market, the Australian East Coast gas network, and the Asia LNG market, which is the largest growing demand center for gas globally [9] - Initial flow rates from well results indicate a comparison to the Marcellus Shale in the U.S., with the Velkerri B showing distinct characteristics [8] Company Strategy and Development Direction - The company aims to deliver significant production growth in 2026, focusing on stimulating three remaining wells and completing the SPCF construction [10][11] - Plans include drilling two backfill wells to mitigate risks and ensure gas supply, as well as participating in two commitment wells with Santos to delineate additional resources [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of the Beetaloo Basin as a world-class unconventional gas project, emphasizing the importance of collaboration with stakeholders [3][9] - The company is focused on drilling great wells and learning from every data point to build the investment rationale for large pipelines to transport gas [22][56] Other Important Information - The company is nearing completion of the acquisition of subsidiaries of Falcon Oil and Gas, which will consolidate its interest across the Beetaloo Basin [10] - The farm-out process is ongoing, with credible parties interested, although specific details were not disclosed due to commercial sensitivity [7][36] Q&A Session Summary Question: Background and Opportunities at Tamboran - The CEO discussed his experience in U.S. shale operations and the importance of drilling great wells in the Beetaloo Basin [19][21] Question: Resource Assessment and Well Locations - The CEO clarified that there is no change in strategy, focusing on the Mid-Velkerri B Shale and drilling great wells [25] Question: Soak Period Decision for Well 6H - The CEO explained the decision to extend the soak period to 60 days for consistency with previous wells [35] Question: Expansion of Sturt Plateau Compression and Pipeline - The CEO indicated a strong market for gas sales and the potential for pipeline expansion to support increased production [46] Question: Local Sand Solution Testing - The CEO expressed optimism about local sand lab results and the intention to test it in upcoming wells [51] Question: Operational Cadence and Production Maintenance - The CEO noted that the focus will be on the pilot project, with timelines to be clarified as operations progress [52] Question: Stakeholder Engagement and Government Support - Management highlighted strong support from the government and local communities for the development of the Beetaloo Basin [71][73]

Financial Data and Key Metrics Changes - At the end of 2025, the company had a cash balance of $91 million and drawn debt of $16 million related to the construction of the Sturt Plateau compression facility [7][16] - The company received $32 million from a PIPE transaction in January 2026 and expects an additional $15 million from an acreage sale to DWE [7][16] Business Line Data and Key Metrics Changes - The second quarter of fiscal 2026 saw the completion of the largest stimulation program in the Beetaloo Basin, achieving 58 stages across a 10,009-foot horizontal section [4][12] - Construction of the Sturt Plateau compression facility was approximately 80% complete at the end of January 2026, remaining on budget and on track for first gas in the third quarter of 2026 [5][14] Market Data and Key Metrics Changes - The Beetaloo Basin is connected to three attractive gas markets: the NT local gas market, the Australian East Coast gas network, and the Asia LNG market, which is the largest growing demand center for gas globally [9] - The company is nearing production, which will provide local energy supply and royalties to native title holders and the Northern Territory government [9] Company Strategy and Development Direction - The company aims to focus on drilling great gas wells in the Beetaloo Basin, leveraging the expertise of its management team and partners [56][57] - Plans include stimulating three remaining wells to achieve a plateau rate of 40 million cubic feet per day ahead of initial gas sales [6][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the support from local stakeholders, including the government and native title holders, emphasizing the economic benefits of gas development [71][73] - The company is focused on learning from every data point and improving operational efficiency to enhance production outcomes [22][70] Other Important Information - The company is progressing the farm-out process but did not provide specific details due to commercial sensitivity [6][37] - The acquisition of subsidiaries from Falcon Oil and Gas is nearing completion, which will consolidate the company's interests in the Beetaloo Basin [10] Q&A Session Summary Question: Todd's background and its relevance to Tamboran - Todd discussed his experience in remote operations and the importance of working with local stakeholders, emphasizing the need to drill great wells in the Beetaloo [21][23] Question: Changes in resource or well location assessment - Todd clarified that there was no change in strategy and that the focus remains on the Mid-Velkerri B Shale [25] Question: Soak period decision for the 6H well - Todd explained that the soak period was extended to 60 days for consistency with previous wells, aiming to minimize variables in data collection [35] Question: Expansion of the Sturt Plateau compression and pipeline - Todd indicated that there is a market for gas sales and that the pipeline is designed to support expansion up to 100 million cubic feet per day [46] Question: Local sand solution testing - Todd mentioned that lab results for local sand look promising, and they plan to test it in upcoming wells [51] Question: Operational cadence for maintaining production - Todd stated that the focus is on the pilot project, and specific timing for production growth will be assessed as operations progress [52] Question: Stakeholder support and government relations - Todd highlighted strong support from local stakeholders and the government, emphasizing the benefits of gas development for the community [71][73]

Tamboran Resources (NYSE:TBN) Q2 2026 Earnings call February 11, 2026 05:00 PM ET Speaker5Please note that this conference is being recorded. I will now turn the conference over to our host, Todd Abbott, Chief Executive Officer for Tamboran Resources. Thank you. You may begin.Speaker8Hello, everyone, and welcome to Tamboran Resources Financial Year 2026 second quarter earnings presentation. My name is Todd Abbott, and I'm the Chief Executive Officer of Tamboran Resources, and I'm joined here today by Chief ...