Tamboran Resources Corporation (ASX: $TBN) IPO Announcement

Tamboran Resources Corporation (ASX: $TBN) has publicly launched its proposed New York Stock Exchange (NYSE) Initial Public Offering (IPO) with an offering price range of US$24 - 27 per share of common stock. The company aims to raise capital to fund the drilling, completion, and infrastructure requirements for the proposed Shenandoah South Pilot Project, targeting a Final Investment Decision (FID) in mid-2024. Additional capital will also support the proposed NTLNG pre-FEED activities, other Beetaloo Basin activities, and general working capital.

Tamboran Resources Corporation (ASX: $TBN) CEO Commentary

We are excited to be launching our IPO in the US to support funding of our proposed Shenandoah South Pilot Project in the Beetaloo Basin. The US market has deep knowledge of the development of shale gas resources and a long history of supporting gas companies to fund their developments. Our Board of Directors believe the US listing will deliver Tamboran shareholders a greater reflection of the value of Tamboran's assets. The IPO is expected to fund Tamboran's next six wells in the Beetaloo Basin, which will all be drilled to approximately 10,000 feet (3,000 metres) and are planned to deliver gas to the Northern Territory Government via the Company's proposed 40 million cubic feet per day (MMcf/d) Shenandoah South Pilot Project.

Tamboran Resources Corporation (ASX: $TBN) IPO Summary

Tamboran Resources Corporation (ASX: $TBN) has launched its proposed New York Stock Exchange (NYSE) Initial Public Offering (IPO) to raise capital for the Shenandoah South Pilot Project and NTLNG pre-FEED activities. The company aims to reach a Final Investment Decision (FID) in mid-2024 and trade on the NYSE under the ticker 'TBN' upon successful completion of the IPO. With a focus on the Beetaloo Basin, Tamboran plans to drill six wells to approximately 10,000 feet and deliver gas to the Northern Territory Government via the proposed 40 million cubic feet per day (MMcf/d) Shenandoah South Pilot Project. The IPO reflects Tamboran's commitment to playing a constructive role in the global energy transition towards a lower carbon future.