Falcon Oil & Gas Ltd - Shenandoah South - 1H well IP60 Day Flow Rates of 3.0 MMcf/d (normalised to 6.0 MMcf/d) - Seite 2

“The SS-1H IP60 flow rate announced today of 3.0 MMcf/d, normalised to 6.0 MMcf/d over 1,000 metres, demonstrates a steady low declining curve while holding its downhole pressure. This augurs well for the initial development in the Shenandoah South area as these rates continue to track average flow rates seen in the Marcellus Shale basin in the US.”

Table 1: Shenandoah South-1 DSU – 20,480 acres

Company	Interest
Tamboran (B2) Pty Limited	77.5%
Falcon Oil and Gas Australia Limited	22.5%
Total	100.0%

Table 2: Breakdown of the SS-1H flow result

SS-1H Rates (MMcf/d)	Actual (501m; 1,644 ft)	Normalized (1,000m; 3,281 ft)	Normalized (3,048m; 10,000 ft)
Peak rate	12.9	N/A	N/A
Average IP30 flow rate	3.2	6.4	19.5
IP30 exit rate	2.9	5.8	17.6
Average IP60 flow rate	3.0	6.0	18.4
IP60 exit rate	2.8	5.5	16.8

Source: Tamboran

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Falcon Oil & Gas Ltd.	[phone]
Philip O’Quigley, CEO	[phone]
Anne Flynn, CFO	[phone]
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Neil McDonald / Adam Rae	[phone]
Tennyson Securities (Joint Broker)
Peter Krens	[phone]