Tamboran Resources Limited announced that it has increased EP 161 (Tamboran 25% interest) contingent resources following the successful gas flow to surface and 30-day flow testing of the Tanumbirini 2H ("T2H") and Tanumbirini 3H ("T3H") wells in early calendar year 2022. The resources are located in closeproximity to the Tanumbirini well pad and cover a small portion of the EP 161 permit. Unrisked 1C contingent resources are estimated to have increased by 336% to 48 billion cubic feet ("BCF") net to Tamboran (189 BCF on a gross unrisked basis), including 32 BCF (net to Tamboran) within the Mid-Velkerri "B" shale.

Unrisked 2C contingent resources are estimated to have increased by 428% to 153 billion cubic feet ("BCF") net to Tamboran (610 BCF on a gross unrisked basis), including 128 BCF (net to Tamboran) within the Mid-Velkerri "B" shale. The upgrade to Tamboran's contingent resources has been evaluated and certified by leading independent third-party resources certifier, Netherland, Sewell and Associates Inc. ("NSAI"). Tamboran plan to leverage its intellectual property to increase the size and maximise the efficiency of the fracture stimulation design within the Maverick 1H ("M1H") well, planned to be drilled during calendar year 2022.

If successful, this well has the potential to result in Tamboran booking initial 2C contingent resources within the Company's 100 percent owned and operated EP 136 acreage. The estimates of contingent gas resources provided in this announcement were estimated using the probabilistic methods as of 31 January 2022. Contingent resources are aggregated by summation by category.

The prospective gas resources provided in this announcement were estimated using the probabilistic methods and are dependent on an unconventional gas discovery being made and were prepared as of 13 May 2021, as outlined on page 145 of the Tamboran Resources Prospectus, release to the ASX on 1 July 2021. The estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development.

Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially movable hydrocarbons Numbers in this report have been rounded. As a result, some figures may differ insignificantly due to rounding and totals reported may differ insignificantly from arithmetic addition of the rounded numbers.