Tamboran Resources Corporation (TBN)

In the past six months, Tamboran appointed Mr. Todd Abbott as CEO on January 12, 2026. The company scheduled its 1Q FY26 Earnings Release and Webcast for October 28, 2025. Tamboran raised US$56.1 million through a public offering, entered a PIPE for up to US$29.3 million, and planned a CDI Share Purchase Plan targeting up to US$30 million on October 24, 2025. The pricing of the public offering was announced on October 22, 2025. Tamboran completed its largest Beetaloo Basin drilling program on October 15, 2025. The company reached FID on its Shenandoah South Pilot Project and announced its intention to acquire Falcon Oil & Gas Ltd. on September 30, 2025. Tamboran secured Northern Territory Government approval for gas use from its SS Pilot Project on September 2, 2025. The SS-2H ST1 well delivered a record Beetaloo Basin IP90 flow rate on August 11, 2025. Tamboran announced the successful closing of the first tranche of its PIPE to fund drilling activities on May 30, 2025.

The demand for natural gas is significantly influenced by weather conditions, with demand typically lowest in spring and fall and peaking in summer and winter. Winter demand surges due to heating, while summer demand peaks due to cooling loads. Unusual weather can reduce these seasonal fluctuations. Natural gas storage facilities are used to meet peak demand. In the Northern Territory, greater rainfall from November to April can present operational challenges.

Tamboran Resources Corp. operates in the Energy sector, focusing on Oil & Gas Exploration & Production (E&P). The company explores and develops natural gas reserves, primarily dry gas with high methane content, suitable for power generation and industrial processes. Tamboran also yields associated liquids like condensates and LPG, which can be refined into gasoline, using advanced hydraulic fracturing and horizontal drilling techniques.

Tamboran Resources Corp. is headquartered in Sydney, Australia, with its principal assets and operations in the Beetaloo Sub-basin of the Northern Territory. The company holds approximately 1.9 to 2 million net prospective acres in this basin. Tamboran primarily targets the domestic market, aiming to supply natural gas to eastern Australian states and LNG to Asian markets. It has also secured land for its proposed Northern Territory LNG (NTLNG) project in Darwin.

Tamboran Resources Corp. faces the risk of damage to its brand and reputation if it fails to act responsibly in areas such as environmental stewardship, corporate governance, and transparency. The company has been, and may in the future be, subject to claims of "greenwashing."

Tamboran Resources Corp. has a mixed ownership structure. Approximately 22.96% of the company's stock is owned by institutional investors, 19.42% by insiders, and 57.62% by public companies and individual investors. Individual investors collectively hold about 55% of Tamboran Resources shares. Major institutional owners include HITE Hedge Asset Management LLC, Alberta Investment Management Corp, Baupost Group Llc/ma, Encompass Capital Advisors LLC, Yaupon Capital Management LP, Ancient Art, L.P., UBS Group AG, Ingalls & Snyder Llc, Nuveen Asset Management LLC, and Teachers Insurance and Annuity Association-College Retirement Equities Fund. Bryan Sheffield is the largest individual shareholder, owning 9.3% of shares outstanding.