Tamboran Resources Secures $55.4 Million for Drilling Expansion

An update from Tamboran Resources Limited ( (AU:TBN) ) is now available.

Tamboran Resources Corporation announced a US$55.4 million private investment in public equity (PIPE) to fund its ongoing drilling activities for the Shenandoah South Pilot Project. The funds will enable the company to drill and complete three additional wells, aiming for first gas production by mid-2026. The initial US$44.4 million of the PIPE is expected to close soon, with the remaining US$11 million contingent on shareholder approval. This capital injection is crucial for Tamboran’s strategy to enhance operational efficiency and achieve its production goals, potentially strengthening its position in the energy sector.

More about Tamboran Resources Limited

Tamboran Resources Corporation is an energy company focused on the exploration and development of natural gas resources. The company is primarily engaged in drilling activities and aims to reach plateau production through its proposed Shenandoah South Pilot Project in the Beetaloo Basin.

Average Trading Volume: 1,417,959

Technical Sentiment Signal: Buy

Current Market Cap: A$387.1M

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