19 Dec 2023other● Neutral
Tamboran released its first climate change report, aligned to the TCFD framework. It restates the aim of net zero equity Scope 1 and 2 emissions from first commercial production. No new operational or financial information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 Dec 2023material agreement▲ GoodMajor
Tamboran signed three binding agreements with APA Group: early development for the ~35 km Sturt Plateau Pipeline (online as early as H2 2025) and an East Coast pipeline (as early as 2028), plus a partnering deal with an option on up to 15%. APA may spend up to A$10M early works, conditional on milestones.
15 Dec 2023material agreement▲ GoodMajor
Tamboran formed a strategic partnership with US services firm Liberty Energy, which invested US$10M (A$15.2M). Liberty plans to bring a dedicated frac fleet to the Beetaloo in 2024, once terms are finalised; Tamboran applied for 14 frac sand exploration licences nearby.
15 Dec 2023capital raising announcement▲ GoodMajor
The institutional placement and entitlement offer raised A$40.8M at A$0.16 per CDI (254.9M new CDIs), including A$15.3M from Liberty and A$7.6M from Sheffield. A retail offer follows, open 20 December to 3 January. Funds support the Shenandoah South pilot sanction.
14 Dec 2023registration revoked● Neutral
ASX removed the old Tamboran Resources Limited from the official list at close of trading on 14 December 2023, following the scheme. The Delaware successor stays listed under the code TBN, so holders' ASX position continues through CDIs.
14 Dec 2023capital raising announcement● NeutralMajor
Tamboran launched a non-underwritten equity raise at A$0.16 per CDI: a ~A$28M placement plus a 1-for-6.2 entitlement offer, including A$15M from Liberty Energy and A$8M from Sheffield. Up to ~452M new CDIs fund Shenandoah South pilot sanction work planned for H1 2024.
13 Dec 2023business combination● NeutralMajor
The re-domicile scheme was fully implemented on 13 December 2023. Tamboran Resources Corporation (Delaware) now owns all of Tamboran Resources Limited, and shareholders hold CDIs, trading normally as TBN from 14 December. This completes the move announced 12 October.
8 Dec 2023business combination● Neutral
Pre-quotation disclosure confirms all scheme conditions are met. About 1,716.7M CDIs will be issued, equal to roughly 8.58M Delaware shares, with 54.5M options carried over. Top holders at 4 December include Sheffield Holdings at 12.98% and H&P at 6.17%.
8 Dec 2023other● Neutral
Bylaws of the new Delaware parent, Tamboran Resources Corporation, covering stockholder meetings, quorum and voting. Governance documents filed for the listing; no operational or financial information in the extract.
8 Dec 2023other● Neutral
Corporate Governance Statement for Tamboran Resources Corporation, current at 7 December 2023, setting out how it applies the ASX governance recommendations. Administrative filing for the listing with no new commercial information in the extract.
8 Dec 2023business combination● Neutral
Information Memorandum for the new Delaware parent's ASX admission, dated 7 December 2023. Confirms 1,716,672,600 CDIs will be issued one-for-one on 13 December, representing 8,583,363 shares (200:1). Largely repeats the Scheme Booklet and prior listing disclosures.
8 Dec 2023other● Neutral
Re-release of the Scheme Booklet already issued on 27 October 2023, explaining the re-domicile scheme and the board's unanimous recommendation. The extract shows no new information.
8 Dec 2023other● Neutral
ASX listing application form for the new Delaware parent, Tamboran Resources Corporation, incorporated 3 October 2023. It lists the existing board and management unchanged, with no new directors proposed. Administrative filing, with no new commercial information in the extract.
8 Dec 2023other● Neutral
Securities trading policy of the new parent, restricting insider trading and setting blackout periods for directors and senior staff. Administrative document with no commercial information.
7 Dec 2023drilling progress report▲ Good
Stimulation of Shenandoah South 1H finished: 10 stages over 500 m, with a Beetaloo-record 100 bpm rate. Flow back and 30-day testing start mid-December; IP30 rates are expected in Q1 2024, feeding a first-half 2024 decision on the 40 MMcf/d pilot.
7 Dec 2023business combination● Neutral
ASX set out admission of Tamboran Resources Corporation (Delaware) and quotation of its CDIs from 8 December under temporary code TBNDA, at 200 CDIs per share. About 1.717 billion CDIs are indicated; no funds raised.
7 Dec 2023business combination● Neutral
The re-domicile scheme became legally effective on 7 December after the court orders were lodged with ASIC. Shares move to the new Delaware parent on implementation, which was already scheduled in the prior timetable.
6 Dec 2023business combination● NeutralMajor
The Federal Court approved the scheme to move Tamboran's parent company from Australia to a new Delaware corporation. It becomes legally effective once lodged with ASIC on 7 December; implementation is 13 December, with CDIs trading normally on 14 December.
1 Dec 2023business combination▲ GoodMajor
Shareholders approved the US re-domicile scheme by the required majority on 1 December 2023. Final court approval is set for 6 December, with new CDIs issued on 13 December. Step towards a Delaware parent and continued ASX trading as TBN.
1 Dec 2023business combination● Neutral
Chairman's script for the 1 December scheme meeting, covering procedure, questions and voting on the US re-domicile resolution. The extract shows no new substantive information.
30 Nov 2023business combination● Neutral
Notice that the Federal Court will hear the application to approve the re-domicile scheme on 6 December 2023, following the 1 December shareholder vote. Anyone opposing must file a notice of appearance. Procedural notice only.
28 Nov 2023business combination● Neutral
The scheme timetable was revised: implementation moves earlier to 13 December 2023, from 18 December, with new CDIs trading normally on 14 December. The meeting (1 Dec), effective date (7 Dec) and record date (11 Dec) are unchanged.
27 Nov 2023drilling progress report● Neutral
Stimulation began at Shenandoah South 1H: 10 stages over a 500 m section, expected to finish in December 2023. IP30 flow rates are still expected in Q1 2024. Note the stimulated length is shorter than the 1,074 m horizontal drilled. Results feed the 40 MMcf/d pilot decision.
7 Nov 2023agm notice● Neutral
Chairman's script for the 7 November 2023 AGM covering meeting procedure, how to ask questions and voting on eight resolutions. Procedural content only in the extract, with no new operational or financial information.
7 Nov 2023agm notice● Neutral
All eight AGM resolutions passed, including the remuneration report and re-election of directors. The proposal to raise the cap on non-executive directors' fees had the weakest support, with about 16.9% voting against.
31 Oct 2023investor presentation● Neutral
Non-deal roadshow presentation pitching a potential 2 Bcf/d (gross) Beetaloo development as early as 2030. It states a target of over 10 TCF net 2C resources by end-2024, tied to Amungee 3H, Shenandoah South 1H and a proposed Shenandoah North 1V well. Mostly repeats known themes.
30 Oct 2023well test result▲ GoodMajor
A pressure test at Shenandoah South 1H found over-pressured shale, gradient at least 0.54 psi/ft, similar to Tanumbirini (0.51-0.56). Management says this supports matching Tanumbirini flow rates; success would let the JV sanction the 40 TJ/d pilot. IP30 results due early Q1 2024.
27 Oct 2023business combination● Neutral
The Federal Court approved convening a shareholder meeting on the US re-domicile scheme. Holders would get one CDI per share in a Delaware parent, still ASX 'TBN'. BDO finds it in shareholders' best interests; meeting 1 Dec, implementation 18 Dec 2023.
27 Oct 2023business combination● Neutral
ASIC registered the Scheme Booklet for the US re-domicile and it goes to shareholders. The board unanimously recommends a yes vote and BDO's independent expert says it is in shareholders' best interests, absent a better proposal. Meeting set for 1 December 2023.
25 Oct 2023quarterly activities report● Neutral
September quarter report recaps the two fast wells, the 2.0 TCF resource upgrade, six LOIs, new directors and the US re-domicile plan. Cash was A$33.5M. The 10-stage Shenandoah South stimulation starts in November; a commercial result could lead to sanctioning a 40 TJ/d pilot in H1 2024.