Northern Territory Supreme Court dismisses EP 136 appeal
The Northern Territory Supreme Court has dismissed Rallen Australia's appeal regarding the Northern Territory Civil and Administrative Tribunal's (NTCAT) decision to grant ASX-listed Tamboran Resources a land access agreement on EP 136 in the Beetaloo basin, Tamboran announced on April 20.
Rallen Australia, a cattle company, had sought to overturn NTCAT decision that allowed Tamboran's subsidiary Sweetpea Petroleum to explore for gas in EP 136. Tamboran said that the decision validates the Land Access and Compensation Agreement approved by the NTCAT in May 2022, allowing the company to conduct exploration activities in EP 136 under the corresponding Environmental Management Plans.
Tamboran completed the drilling of the first operated well, Maverick 1V (M1V), in EP 136 during the second half of 2022. It is continuing to evaluate the opportunity to drill a 3,000-metre horizontal section.
Tamboran CEO, Joel Riddle, said: "As the first challenge of the Northern Territory government's changes to the legislation and regulations permitting access for exploration purposes, the decision sets an important precedent for future operations across the Beetaloo basin. We are pleased to lead the way by securing this important precedent and ensure that the benefits of the decision will extend to many stakeholders.”
Riddle said that Tamboran remains committed to the development options in the EP 136 permit, where it holds a 100% operated interest.
“We are currently evaluating the opportunity to re-enter the M1V well and drill a 3,000- metre horizontal section once H&P's super-spec FlexRig(R) is operational in Australia. The rig has arrived in arwin ahead of the commencement of operations in the Beetaloo basin in mid-calendar year 2023,” he said.
Tamboran owns full and partial stakes in a number of permits in the Beetaloo including EP 161, EP 136, EP 143, EP(A) 197, EP 98, EP 117 and EP 76.
The company is planning to take a final investment decision on the 100 terajoules (TJ)/day pilot development in its 38.75%-owned EP 98 acreage by the end of the calendar year 2023. Tamboran is partnered with London-listed Falcon Oil and Gas and Daly Waters Energy in EP 98.