Tamboran Resources Corporation has announced a new milestone in its Beetaloo Basin operations with the Shenandoah South 2H sidetrack (SS-2H ST1) well recording an initial 60-day production (IP60) flow rate of 6.8 million cubic feet per day. This record performance was achieved across a 5,483‐foot stimulated horizontal in the Mid Velkerri B Shale and reflects a normalized flow rate of 12.4 MMcf/d over a 10,000‐foot lateral section, which aligns favorably with data from over 11,000 wells in the Marcellus Shale dry gas area. Throughout the testing period, the well maintained a steady exit rate of 6.4 MMcf/d with a flowing wellhead pressure reducing to approximately 720 psi from higher initial values, while the cumulative production reached 408.2 MMcf. Tamboran’s Chief Executive Officer, Joel Riddle, emphasized that this achievement more than doubles the previous record set by the SS-1H well and reinforces the company’s view of commercial deliverability to the Australian East Coast gas market, which typically benefits from a pricing premium. In parallel, the company has commenced its largest drilling program in the region yet, launching the three-well Shenandoah South Pilot Project using a Helmerich & Payne super-spec FlexRig Flex 3 Rig. This initiative is critical as it represents the final drilling requirement for meeting a gas sales contract that targets delivery of 40 MMcf/d to the Northern Territory Government, underpinning energy security for the region. Investors could view the robust production metrics and low-decline rates as positive indicators, signaling potential for strong operational performance in a competitive market environment. The record-setting IP60 rate and the alignment with established Marcellus Shale benchmarks provide a bullish outlook on Tamboran’s asset quality and market delivery capabilities. However, risks remain due to the company’s early expansion phase, operational uncertainties, and dependency on achieving key infrastructure milestones amidst a volatile natural gas market. While the developments point to promising production potential, challenges, including cost pressures and execution risks inherent in drilling and production, highlight areas for caution among market participants.