Tamboran Resources Announces Pricing of Common Stock Offering

10/22/2025 – 11:58 PM

Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) has announced the pricing of its underwritten public offering of 2,324,445 shares of Common Stock at $21.00 per share. The offering, which was previously announced, includes a 30-day option for the underwriters to purchase up to an additional 348,666 shares at the public offering price.

The transaction is expected to generate gross proceeds of approximately $48.8 million, excluding any potential exercise of the underwriters’ option. The offering is expected to close on October 24, 2025, contingent upon standard closing conditions.

RBC Capital Markets, Wells Fargo Securities, and BofA Securities acted as joint book-running managers for the offering.

Tamboran intends to allocate the net proceeds to fund its development plan, bolster working capital, and for other general corporate purposes. This capital injection arrives at a critical juncture as Tamboran seeks to accelerate exploration and development activities in the Beetaloo Basin within the Northern Territory of Australia.

Strategic Implications and Market Outlook

The Beetaloo Basin represents a significant opportunity for Tamboran, holding approximately 1.9 million net prospective acres. Industry analysts see the basin as a potentially transformative natural gas resource for Australia, capable of supplying both domestic and international markets. This new capital allows Tamboran to invest in infrastructure and accelerate drilling programs in a bid to capitalize on the region’s natural resources.

However, the sector faces risks, including fluctuating natural gas prices, regulatory hurdles, and the environmental impacts of shale gas extraction, which are factors that could influence future performance and investor sentiment.

Tamboran’s stock offering is being conducted under an effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC). The company is offering its shares of common stock pursuant to this SEC filing.

About Tamboran Resources Corporation

Tamboran Resources is an independent natural gas exploration and production company focused on the commercial development of natural gas resources in the Beetaloo Basin. The company is committed to an integrated approach to developing its resources in the Northern Territory of Australia.

Forward-Looking Statements

This announcement contains forward-looking statements subject to risks and uncertainties. Actual results may vary from expectations. Investors should review Tamboran’s filings with the SEC for risk factors and cautionary statements. Tamboran does not undertake to update these statements.