07:18 AM EDT, 09/30/2025 (MT Newswires) -- Tamboran Resources ( TBN ) said Tuesday the Beetaloo Joint Venture has made a final investment decision for the Shenandoah South Pilot Project, following approvals from Native Title Holders, the Northern Land Council, the Northern Territory Government and key agreements with APA Group and the SPCF Trust.

The company said the agreement includes a gas sales deal with the Northern Territory Government to supply 40 terajoules per day at a fixed price indexed to inflation, though pricing remains confidential.

Tamboran said it also signed agreements for gas processing and transportation, enabling the use of the Sturt Plateau Pipeline to deliver gas to market.

First gas sales are expected by mid-2026 following completion of infrastructure and well stimulation, the company said.

A financing facility of up to 179.8 million Australian dollars ($118 million) via a three-tranche financing facility has been secured for the construction of the compression facility.

The pilot project will test long-term production from five wells and could lead to a larger East Coast gas development, the company said, adding that drilling is expected to wrap up in early Q4, with flow testing and stimulation of wells scheduled into H1 2026.