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An announcement from Tamboran Resources Limited ( (AU:TBN) ) is now available.
Tamboran Resources has launched an underwritten public offering of 2,956,602 common shares, with an additional 443,491 shares potentially available to underwriters under a 30-day option. Proceeds are earmarked to fund additional drilling in the Pilot Area, resource delineation in the Orion Acreage and Beetaloo Central Development Area, drilling in EP 161, as well as working capital and general corporate purposes.
RBC Capital Markets and Wells Fargo Securities are acting as joint bookrunners for the offering, which is being conducted under an effective shelf registration with the U.S. Securities and Exchange Commission. In parallel, the company is running a separate registered direct institutional entitlement offer, together underscoring Tamboran’s drive to secure capital to accelerate development of its Northern Territory gas assets and strengthen its position in the Beetaloo Basin.
The most recent analyst rating on (AU:TBN) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Tamboran Resources Limited stock, see the AU:TBN Stock Forecast page.
More about Tamboran Resources Limited
Tamboran Resources Corporation is a growth-focused independent natural gas exploration and production company concentrating on commercialising natural gas resources in the Beetaloo Basin in Australia’s Northern Territory. Through its subsidiaries, the company controls about 1.9 million net prospective acres, making it the largest acreage holder in the Beetaloo Basin and a key player in this emerging gas province.
Average Trading Volume: 2,453,998
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$1.41B
Find detailed analytics on TBN stock on TipRanks’ Stock Analysis page.