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Stocks of the Hour: Talon Energy, Noble Helium, Tamboran Resources

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Talon Energy (ASX:TPD) announced today that its JV Partner & Operator TMK Energy has advised that initial gas from the Lucky Fox-1 well has flowed to surface & flared at its Mongolian Gurvantes CSG Project.Talon’s Managing Director & CEO, Colby Hauser said “ We are pleased to announce the positive results from the extended production test and the promising early signs from the performance of the three pilot wells & we look forward to updating the market further. Shares are trading 4.29 per cent higher at 18.25 cents.

Noble Helium (ASX:NHE) has provided an update on the targets for the upcoming drilling campaign at its North Rukwa Project in Tanzania, which continues to proceed as planned for spud in Q3 2023. Noble Helium CEO & Co Founder Justyn Wood commented “ While there is always risk in exploration, thanks to a comprehensive de-risking campaign, new data and our upward revised internal pre drill volume estimates present a compelling argument to focus on Mbelele in our maiden drilling campaign. A discovery at the Mbebele 1 well will be immediately appraised 4km away at the Mbelele 2 well, to support potential early commercialisation that would fund further drilling” The company is expected to spud Mbelele 1 in just two months. Shares are trading flat at 25.5 cents.

Tamboran Resources (ASX:TBN) has announced that it has awarded John Wood Group the contract to undertake the Concept Select Engineering phase for the proposed NTLNG development at the Middle Arm Sustainable Development Precinct in Darwin. Tamboran Managing Director & CEO Joel Riddle said “ The commencement of this engineering phase with Wood signals Tamboran’s intent to design and develop a best in class, low emissions facility to process low reservoir CO2 Beetaloo gas for global LNG customers” Shares are trading 2.94 per cent lower at 16.5 cents
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Source: Finance News Network