Tamboran Resources (ASX:TBN), (NYSE:TBN) Secures Capital to Expand Beetaloo Drilling; ASX 200 Energy Focus Intensifies

Highlights

• Tamboran Resources completes stimulation and initiates flow testing at Shenandoah South well

• Secures funding through PIPE placement to support Beetaloo Basin development

• Strategic joint acreage moves and commercial discussions enhance growth outlook

Tamboran Resources Corporation (ASX:TBN), (NYSE:TBN), listed on both the Australian Securities Exchange and the New York Stock Exchange, continues its momentum within the energy sector. As part of the broader ASX 200 index, the company’s recent operational advancements and capital activities have drawn attention across the upstream gas segment.

Major Developments in the Beetaloo Basin

Following the completion of a multi-stage stimulation of the Shenandoah South 2H sidetrack well, Tamboran initiated a comprehensive flow test to assess performance metrics critical to its Shenandoah South Pilot Project. The test follows a soaking period and spans an extensive horizontal section. The outcome of the initial thirty-day results is expected to play a pivotal role in shaping subsequent development decisions.

Three additional horizontal wells—designated SS-4H, SS-5H, and SS-6H—are lined up to commence drilling from the same pad during the middle of the calendar year. These activities form part of what is described as the most extensive drilling campaign yet undertaken within the Beetaloo Basin. Plans include stimulation operations across multiple wells in the latter part of the year or early next.

Capital Raised Through PIPE Placement

To facilitate this ambitious development program, Tamboran secured funding through a Private Investment in Public Equity (PIPE) placement. This transaction, structured at a negotiated discount, enhances the company's liquidity and underpins its execution strategy across the Beetaloo acreage. The inflow also supports ongoing project commitments tied to previously disclosed gas agreements.

Strategic Gas Supply Commitments

The company reaffirmed its focus on supplying gas under a binding sales agreement with the Northern Territory Government. The agreement underlines the importance of Tamboran’s output for energy reliability in Darwin. The wells under development are critical to fulfilling these supply obligations, which support broader energy security initiatives.

Acreage Expansion and Joint Venture Milestones

Tamboran and Daly Waters Energy, LP completed a strategic checkerboard alignment across key exploration permits in the Beetaloo Basin. Under the revised arrangement, Daly Waters is set to acquire a non-operating interest, pending necessary regulatory approvals. This alignment enhances operational efficiency and clarity across the region.

A substantial portion of Tamboran’s Beetaloo acreage has been designated as a Phase 2 Development Area. RBC Capital Markets has been appointed to manage a formal farmout process, enabling potential third-party participation in the asset's long-term growth.

Commercial Engagements and Byproduct Offtake Discussions

Tamboran has signed a non-binding letter of intent with Arafura Rare Earths Ltd for a prospective gas supply arrangement linked to Arafura’s Nolans project. In parallel, another letter outlines discussions with Linde Inc. for helium offtake associated with the proposed Northern Territory LNG development at Middle Arm. These engagements signal diversification into complementary market opportunities.

Enhanced Liquidity for Development Execution

Following the PIPE placement and the strategic acreage transaction, Tamboran’s cash reserves have seen a significant uplift. This improved capital position aligns with the company’s commitment to operational expansion and its broader objective of supplying gas to Australia’s east coast market, which is anticipated to face supply challenges over time.