Tamboran Resources hits over 1-month high on flow rates exceeding threshold

Tamboran Resources

05/09/2022 02:37

** Shares of Tamboran Resources  TBN.AX  jump up as much
10.6% to A$0.24 - hit highest level since July 28
    ** Shale gas explorer says Tanumbirini 2H and 3H wells in
Northern Territory achieved average 30-day flow rates that
exceeded estimated Beetaloo commerciality threshold for a
1,000-metre horizontal well  urn:newsml:reuters.com:*:nASX8qWhYj
    ** Adds that T3H well delivered an average IP30 flow rate of
3.1 (mmscfd) over a 600-metre completed horizontal section
    ** T2H well delivered an average IP30 flow rate of 2.1
mmscfd over a 660-metre completed horizontal section 
    ** Stock on track for its fourth straight session of gains 
    ** Stock has fallen 38.6% this year, as of last close
 

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))