23 Sept 2024investor presentation● Neutral
Fourth quarter and annual presentation dated 20 September 2024, hosted by the CEO. Visible text is only disclaimers; the remainder is truncated, so no new figures can be reported.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
12 Sept 2024other● Neutral
Notice that Tamboran will release fourth quarter and FY24 earnings on 20 September 2024 with a CEO webcast. Administrative scheduling notice with no results.
30 Aug 2024drilling spud▲ GoodMajor
Tamboran spudded Shenandoah South 2H in EP 98, the first of two ~10,000-foot wells (SS-2H, then SS-3H) for the 40 MMcf/d Pilot, about 30 days each. Liberty's frac fleet is mobilised; flow results are expected Q1 2025, with first production H1 2026.
30 July 2024capital raising announcement▲ Good
IPO underwriters partly exercised their over-allotment option for 308,750 more shares at US$24.00, about US$7.4M gross. Tamboran says it will fund Shenandoah South Pilot drilling, adding to the June US$75M IPO (the option was for up to 468,750 shares).
12 July 2024investor presentation● Neutral
July 2024 investor presentation, the first since the NYSE listing. The visible text is only disclaimers and forward-looking statement warnings; the rest is truncated, so no new figures can be reported.
5 July 2024other● Neutral
Amended and restated bylaws of the Delaware parent, covering stockholder meetings and procedures. Administrative governance document, probably adopted for the US listing (inference); the extract is truncated, so no specific changes are identified.
5 July 2024other● Neutral
Monthly statement of CDIs on issue for June 2024: CDIs unchanged at 2,060,287,200, plus 3,125,000 shares of common stock outside the CDI system after the IPO. Administrative.
28 June 2024other● Neutral
Final US prospectus for the IPO: 3,125,000 shares at US$24.00, US$75M gross and about US$70.1M before expenses after US$4.9M underwriting discount. Daly Waters will receive US$7.5M of shares at the IPO price. Restates the pricing already announced.
28 June 2024capital raising announcement▲ GoodMajor
Tamboran completed its NYSE IPO of 3,125,000 shares at $24.00, raising $75 million gross. It signed registration-rights and director-nomination agreements with Sheffield Holdings, LP, and issued 489,088 shares to Helmerich & Payne on conversion of its 5.5% convertible note.
27 June 2024capital raising announcement● Neutral
Duplicate of the IPO pricing release: 3,125,000 shares at US$24.00, US$75M gross, NYSE trading from 27 June. Nothing new beyond the earlier announcement.
What it means for a shareholder
3.1m new shares at US$24.00 to raise about US$75.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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27 June 2024security holder rights change● Neutral
Explains how CDI holders can convert CDIs to NYSE common stock at 200:1. Converted shares carry a US transfer restriction legend that must be removed before they can be traded on the NYSE. Administrative guidance, no change to the ASX-listed CDIs.
27 June 2024capital raising announcement▲ GoodMajor
Tamboran priced its US IPO at US$24.00 per share for 3,125,000 shares, raising US$75M gross, half the 6.5M shares offered at launch. Sheffield Holdings and Liberty Energy contributed US$20M. NYSE trading starts 27 June; closing is expected 28 June. It resolves the IPO thread.
27 June 2024capital raising announcement● Neutral
Free writing prospectus: 3,125,000 shares at US$24.00, with about US$70.1M net proceeds. Capital needs for the initial development phase are put at US$125–165M. H&P's convertible note converts into 489,088 shares and Daly Waters takes US$7.5M of shares, both conditional on at least US$75M raised.
26 June 2024listing compliance notice▲ GoodMajor
the exchange certified Tamboran Resources Corp's securities for listing, clearing them to begin trading.
19 June 2024regulatory community update▲ GoodMajor
The Northern Territory Government granted Major Project Status to Tamboran's Beetaloo development. It brings a dedicated case manager and approval-process mapping. This is government support for the pilot's path to first gas; it does not itself grant any approval.
18 June 2024other● Neutral
Amendment No. 2 to the US Form S-1 for the IPO, dated 17 June: 6,500,000 shares at an expected US$24–27. Cornerstone investors (Sheffield Holdings, Scott Sheffield, Liberty Energy, Yates family) indicated interest in up to US$22.5M. Repeats the launch terms; the extract is truncated.
18 June 2024capital raising announcement● NeutralMajor
Tamboran formally launched its NYSE IPO: 6,500,000 shares at an indicated US$24–27, with a 975,000-share underwriter option. Proceeds are meant to fund the Shenandoah South Pilot, NTLNG pre-FEED and working capital, and the CEO says six wells. CDIs stay on the ASX. Continues the May announcement.
6 May 2024other● Neutral
Form S-1 registration statement filed with the US SEC on 3 May 2024 for the proposed NYSE IPO. The extract shows blank share numbers and price range, so no offer size or price is given.
6 May 2024capital raising announcement▲ GoodMajor
Tamboran announced its intention to list on the New York Stock Exchange via a US IPO under ticker TBN, with Form S-1 filed, while CDIs stay on the ASX. Size and price are not yet set. Proceeds are expected to fund the Shenandoah South pilot, with FID targeted after the IPO.
26 Apr 2024flow test result▲ GoodMajor
Shenandoah South 1H completed its 90-day test at 2.9 MMcf/d (5.8 normalised per 1,000 m), about 65% above Tanumbirini 3H, the previous Beetaloo best. This resolves the flow-test thread; the well is now shut in and suspended as a potential future producer. FID is still targeted mid-2024.
23 Apr 2024material agreement▲ GoodMajor
Tamboran and the Beetaloo JV signed a binding take-or-pay gas sales agreement with the Northern Territory Government for 40 TJ/d (~19 TJ/d net) for nine years from H1 2026, with an option to extend to 2042. It is conditional on the APA pipeline agreement, processing agreement, FID and approvals.
26 Mar 2024flow test result▲ Good
Shenandoah South 1H averaged 3.03 MMcf/d over 60 days (6.0 normalised per 1,000 m), a Beetaloo record, above Tanumbirini 3H's 4.1. It continues the 30-day result of 6.4; testing runs to IP90 in late April, with pilot FID still planned mid-2024.
25 Mar 2024farm in farm out agreement▲ GoodMajor
Tamboran lifted its interest in the proposed Shenandoah South Pilot Project to at least 47.5% after Falcon limited its share to 5% in the second well pad (SS2) and the two 2024 wells. Tamboran and Daly Waters Energy pick up the rest, reaching 95% over 51,200 acres, and carry Falcon for up to A$3.75M gross.
15 Mar 2024half year report● Neutral
Half-year report to 31 December 2023 reviews the period: re-domicile to the US, Shenandoah South 1H drilling and record flow rates, and the A$55M raise with Liberty. Operations text restates known items; financial statements are not shown in the extract.
5 Mar 2024regulatory community update● Neutral
The Australian Tax Office issued a class ruling on the December 2023 re-domicile scheme. Eligible holders make a capital loss if CDI value was below cost base, or can choose scrip-for-scrip rollover relief on a gain. General information, not tax advice.
26 Feb 2024investor presentation● Neutral
Presentation of the Shenandoah South 1H 30-day flow results (6.4 MMcf/d normalised) and the pilot plan: final investment decision mid-2024, first gas 1H 2026, about A$55M cash at end of January. It repeats figures announced the same day.
26 Feb 2024flow test result▲ GoodMajor
Shenandoah South 1H achieved a 30-day average of 3.2 MMcf/d over the stimulated length, or 6.4 MMcf/d normalised to 1,000 m, a Beetaloo record above Tanumbirini 3H's 5.2. It exceeded pre-drill expectation and supports the 40 MMcf/d pilot, with a final investment decision planned mid-2024.
26 Feb 2024resource reserve update▲ GoodMajor
First contingent resource booking for Shenandoah South lifted net 2C resources 8% to 2.1 Tcf (+152 Bcf; 1C up 33 Bcf to 491 Bcf net), certified by NSAI. It supports the 40 MMcf/d pilot, with first gas targeted for Q1 2026, subject to financing and approvals.
19 Feb 2024investor presentation● Neutral
Notice of a webcast on 26 February 2024 where the CEO will update the market on the Shenandoah South 1H 30-day flow test and Beetaloo operations. No results are given in this notice.
15 Jan 2024capital raising announcement▲ GoodMajor
The retail entitlement offer raised about A$14.2M at A$0.16 per CDI (~88.7M CDIs, 907 applications), bringing the total December raise to about A$55.0M. This completes the raise; CDIs on issue become 2,060,287,200, below the ~2,169M possible if fully subscribed.