Tamboran's $6.8m loss reflects high-stakes Beetaloo gamble

Energy firm Tamboran has reported a $6.8 million loss for the first half of 2023, as it continues to pour money into its controversial Beetaloo Basin gas project in the Northern Territory.

The loss was driven by $10.6 million in exploration and evaluation costs at Beetaloo, where Tamboran is seeking to develop a massive gas field that it claims could supply the east coast for decades to come.

Tamboran has faced strong opposition from environmentalists and Traditional Owners, who argue that the project will damage the environment and contribute to climate change. The company has also been criticized for its lack of consultation with Traditional Owners.

Despite the opposition, Tamboran is pressing ahead with its plans for Beetaloo. The company has already spent more than $100 million on the project, and it is planning to spend a further $200 million in the coming years.

Tamboran's gamble on Beetaloo is a high-stakes one. If the company is successful in developing the gas field, it will be a major player in the Australian energy market. However, if the project fails, it could cost the company billions of dollars.

The Beetaloo Basin is a vast area of land in the Northern Territory that is thought to contain large reserves of natural gas. Tamboran is one of several companies that are exploring for gas in the basin.

The Beetaloo Basin is a controversial area. Environmentalists argue that the development of the gas field will damage the environment and contribute to climate change. Traditional Owners also oppose the project, arguing that it will damage their land and culture.

Despite the opposition, the Australian government has given the go-ahead for the development of the Beetaloo Basin gas field. The government argues that the project will create jobs and boost the economy.

The development of the Beetaloo Basin gas field is a complex issue with no easy answers. There are strong arguments on both sides of the debate. Ultimately, it is up to the Australian government to decide whether the project is in the best interests of the country.