Tamboran Reshapes Beetaloo Phase 2 Joint Venture Terms

Tamboran Resources Corporation ( (TBN) ) has issued an announcement.

On March 20, 2026, Tamboran Resources’ joint venture parties executed an addendum to their Second Amended and Restated Joint Venture and Shareholders Agreement governing the Beetaloo Basin gas project. The addendum reshapes and expands the Dev A++ Area by 100,000 acres, rebranding it as the Phase 2 Development Area, and sets out future realignment of beneficial interests between Daly Waters Energy and Tamboran (West) in certain Beetaloo blocks, contingent on completion of the Falcon Transaction.

Also on March 20, 2026, the parties to Tamboran’s Beetaloo Acreage Asset Sale Agreement with Elliott Energy modified their May 12, 2025 deal. Under the revised terms, Elliott will acquire only a beneficial interest in the Dev A++ Area to support an application for a retention license over the enlarged Phase 2 Development Area, while escrow requirements are removed and key project milestone dates are extended to December 31, 2026 and December 31, 2027, respectively, easing timing pressures on the development schedule.

The most recent analyst rating on (TBN) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Tamboran Resources Corporation stock, see the TBN Stock Forecast page.

Spark’s Take on TBN Stock

According to Spark, TipRanks’ AI Analyst, TBN is a Neutral.

The score is held back primarily by weak financial performance (minimal revenue, ongoing losses, and significant cash burn), partially offset by a stronger balance sheet and positive recent technical momentum. Supportive corporate events (PIPE financing and new CEO) help, while valuation remains unattractive/less meaningful due to negative earnings and no dividend.

To see Spark’s full report on TBN stock, click here.

More about Tamboran Resources Corporation

Tamboran Resources Corporation is a natural gas exploration and development company focused on the Beetaloo Basin in Australia. Through wholly owned subsidiaries, the company participates in joint ventures and acreage acquisitions aimed at advancing large-scale gas projects targeting domestic Australian markets and select export opportunities.

Average Trading Volume: 57,128

Technical Sentiment Signal: Buy

Current Market Cap: $718.4M

For a thorough assessment of TBN stock, go to TipRanks’ Stock Analysis page.