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Tamboran Resources Corporation (ASX:TBN)

ALERT: Price-sensitive ASX Announcement for TBN
Current share price for TBN : $0.225 -0.005 (-2.17%)+
Announcement
Release
29 May 2026 9:07AM
Price at Release
$0.230
Full Release
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Summary
Tamboran Resources Corporation announced the completion of its acquisition of the subsidiaries of Falcon Oil & Gas Ltd. This acquisition, following court approval, gives Tamboran control over approximately 2.8 million net prospective acres in the Beetaloo Basin, marking the largest such holding in the area. As part of the transaction, Tamboran has issued over 6.5 million shares to Falcon's shareholders, bringing its total market capitalization to approximately US$1.2 billion. The company plans significant operational activities in the Beetaloo Basin in 2026, aiming to advance its natural gas developments. Eligible Falcon shareholders who dissent are entitled to cash or fair value for their shares, while the transaction was overseen by various legal advisors. The move represents a strategic consolidation within the industry, enhancing Tamboran's position in the Beetaloo Basin.
Key Points
  • Tamboran Resources completed the acquisition of Falcon Oil & Gas Ltd.'s subsidiaries.
  • Tamboran now holds approximately 2.8 million net prospective acres in the Beetaloo Basin.
  • Tamboran issued 6,537,503 shares of Common Stock to eligible Falcon shareholders.
  • The pro forma market capitalization of Tamboran is approximately US$1.2 billion post-acquisition.
  • The acquisition was approved by the Supreme Court of British Columbia.
  • Tamboran plans a major operational year in 2026 with the drilling of at least four wells and stimulation of five.
  • The focus is on the development and commercialization of natural gas resources in the Beetaloo Basin.
  • Falcon shareholders dissenting the transaction are entitled to cash consideration or fair value of their shares.
  • Legal advisors for the transaction included Latham & Watkins LLP and Torys LLP.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.