Tamboran Resources Limited (AU:TBN)
ASX:TBN
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Tamboran Resources Limited
(Sydney:TBN)
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Rating:53Neutral
Price Target:
AU$0.34
▲(0.00% Upside)
Action:ReiteratedDate:04/02/26
The score is held back primarily by weak financial performance—no revenue, widening losses, and higher cash burn with deeply negative free cash flow—despite an equity-supported balance sheet. Technicals contribute positively due to a strong uptrend, but overbought signals reduce confidence. Valuation is constrained by losses (negative P/E) and no dividend support.
Positive Factors
Successful flow test and imminent tie‑in
The SS-6H flow test demonstrated sustained multi‑MMcf/d rates and the company plans to tie the well into the Sturt Plateau Compression Facility to start gas sales in 3Q 2026. This materially de‑risks reservoir performance, shortens time to cash generation and strengthens financing and contracting prospects.
Negative Factors
Pre‑revenue profile with widening losses
Tamboran remains pre‑revenue and reported materially wider losses in FY2025, which erodes balance sheet resilience over time. Without producing assets, the business lacks operating earnings to fund development, increasing dependence on external capital and exposing shareholders to dilution until sustained gas sales commence.
Read all positive and negative factors
Positive Factors
Negative Factors
Successful flow test and imminent tie‑in
The SS-6H flow test demonstrated sustained multi‑MMcf/d rates and the company plans to tie the well into the Sturt Plateau Compression Facility to start gas sales in 3Q 2026. This materially de‑risks reservoir performance, shortens time to cash generation and strengthens financing and contracting prospects.
Read all positive factors
Tamboran Resources Limited (TBN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.48B
Dividend YieldN/A
Average Volume (3M)3.71M
Price to Earnings (P/E)―
Beta (1Y)1.15
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees39
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.48
Shares Outstanding4,206,332,500
10 Day Avg. Volume3,263,968
30 Day Avg. Volume3,713,582
Financial Highlights & Ratios
PEG Ratio-0.14
Price to Book (P/B)1.73
Price to Sales (P/S)0.00
P/FCF Ratio-3.57
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.95
Revenue Forecast (FY)AU$11.99M
Tamboran Resources Limited Business Overview & Revenue Model
Company Description
Tamboran Resources Limited, a natural gas company, focuses on developing unconventional gas resources in Australia. It holds interests in exploration permits, which include EP 161 that covers approximately 10,500 square kilometers; EP 136, which c...
How the Company Makes Money
Tamboran’s ability to make money is primarily tied to successfully discovering, developing, and monetizing natural gas resources from its exploration and appraisal assets. In general, for an upstream exploration and production company at Tamboran’...
Tamboran Resources Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
55
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -1.68M | -1.74M | -1.03M | -811.32K | -562.10K | -447.56K |
| EBITDA | -49.17M | -59.44M | -29.42M | -28.61M | -10.18M | -18.69M |
| Net Income | -35.26M | -56.98M | -33.45M | -47.62M | -10.80M | -23.82M |
Balance Sheet | ||||||
| Total Assets | 600.55M | 446.46M | 358.64M | 255.46M | 134.07M | 112.57M |
| Cash, Cash Equivalents and Short-Term Investments | 83.40M | 39.44M | 74.75M | 26.81M | 26.81M | 63.08M |
| Total Debt | 60.12M | 50.35M | 27.89M | 723.54K | 1.11M | 1.47M |
| Total Liabilities | 109.80M | 57.01M | 50.96M | 34.62M | 5.46M | 8.20M |
| Stockholders Equity | 358.86M | 287.72M | 262.72M | 220.83M | 128.61M | 104.36M |
Cash Flow | ||||||
| Free Cash Flow | -65.66M | -139.77M | -75.10M | -156.78M | -65.95M | -21.85M |
| Operating Cash Flow | -7.14M | -29.64M | -11.40M | -19.36M | -11.06M | -8.63M |
| Investing Cash Flow | -63.20M | -98.77M | -66.11M | -128.54M | -56.12M | -13.21M |
| Financing Cash Flow | 148.27M | 101.06M | 219.46M | 131.64M | 31.11M | 79.34M |
Tamboran Resources Limited Technical Analysis
Positive
0.34
Price Trends
0.22
Positive
0.21
Positive
0.19
Positive
Market Momentum
0.02
Negative
87.46
Negative
91.34
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:TBN, the sentiment is Positive. The current price of 0.34 is above the 20-day moving average (MA) of 0.24, above the 50-day MA of 0.22, and above the 200-day MA of 0.19, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 87.46 is Negative, neither overbought nor oversold. The STOCH value of 91.34 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:TBN.
Tamboran Resources Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | AU$455.72M | 23.18 | 17.50% | 14.63% | -4.57% | -52.65% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
53 Neutral | AU$1.48B | -30.28 | -21.66% | ― | ― | ― | |
50 Neutral | AU$167.50M | -19.23 | -4.74% | ― | ― | 70.00% | |
49 Neutral | AU$178.91M | -21.28 | -0.67% | ― | ― | ― | |
49 Neutral | AU$417.50M | -6.11 | -14.19% | ― | ― | ― | |
48 Neutral | AU$377.94M | -7.29 | -46.22% | ― | 59.48% | -1714.71% |
* Energy Sector Average
AU:TBN
Tamboran Resources Limited
0.34
0.17
97.06%
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Tamboran Resources Limited Corporate Events
Tamboran’s Shenandoah South 6H Well Posts Record Flow as Beetaloo Development Advances
Apr 2, 2026
Tamboran Resources reported that its Shenandoah South 6H well in the Mid Velkerri B Shale delivered an average 20‑day initial production flow rate of 10.3 million cubic feet per day from an 8,635‑foot horizontal section, equivalent to ...
Tamboran adjusts CDI and common stock balances through cross-market transfers
Mar 6, 2026
Tamboran Resources Corporation reported its February 2026 CHESS Depositary Interests statement, showing 1,649,547,000 CDIs on issue over quoted securities at month-end, up from 1,640,212,200 in January. The increase of 9,334,800 CDIs was attribute...
Tamboran Resources Discloses Late Lodgement of Director Interest Change
Mar 6, 2026
Tamboran Resources Corporation has lodged an Appendix 3Y notice with the ASX detailing changes in director Fredrick Barrett’s interests in the company’s securities, including common stock, CHESS Depositary Interests and unlisted option...
Tamboran Resources Issues Additional Unquoted Common Stock
Mar 6, 2026
Tamboran Resources Corporation has notified the market of the issue of 2,505 unquoted common stock securities, recorded under the ASX code TBNAM and dated 5 February 2026. The announcement, lodged as an Appendix 3G, reflects a minor change in the ...
Tamboran Stockholders Back All Resolutions at Special Meeting
Mar 4, 2026
Tamboran Resources Corporation has reported that stockholders approved all resolutions put forward at its Special Meeting held on March 4, 2026. The resolutions, decided by poll with a majority of votes lodged by proxy, clear the way for the compa...
Tamboran Director Increases Equity Stake via Incentive Plan Grant
Feb 27, 2026
Tamboran Resources Corporation has disclosed a change in director Richard Kelty Stoneburner’s interests following the issue of new company shares. Stoneburner, who jointly holds some stock with Sarah Patel, received 25,271 common shares at n...
Tamboran Issues New Unquoted Shares Under Employee Incentive Scheme
Feb 27, 2026
Tamboran Resources Corporation has notified the market of the issue of 25,271 unquoted common stock securities under an employee incentive scheme, with an issue date of 25 February 2026. The move highlights the company’s ongoing use of equit...
Tamboran Discloses Off‑Market Family Transfer of Director‑Related Shares
Feb 4, 2026
Tamboran Resources Corporation has reported a change in the relevant interests of director David Neil Siegel following an off‑market transfer of common stock involving his son, Robert S. Siegel. While David Siegel’s direct and indirect...
Tamboran Records Modest Net Increase in CDIs on Issue for January
Feb 4, 2026
Tamboran Resources Corporation reported a modest net increase of 768,000 CDIs on issue for January 2026, taking the total to 1,640,212,200 CDIs, primarily due to net transfers between CDIs and common stock. Correspondingly, there were small decrea...
Tamboran Calls Virtual Special Meeting to Approve Falcon Oil & Gas Acquisition Share Issuance
Jan 29, 2026
Tamboran Resources Corporation has called a virtual special meeting of stockholders on 3 March 2026 (US time) to seek shareholder approvals related to its planned acquisition of Falcon Oil Gas Ltd. and the remaining minority interests in Falcon O...
Tamboran Issues 1.5 Million Unquoted Shares Under Existing Transactions
Jan 28, 2026
Tamboran Resources Corporation has notified the market of the issue of 1,524,377 unquoted common stock securities under its ASX code TBNAM. The new securities, which are not intended to be quoted on the ASX, were issued on 19 January 2026 as part ...
Tamboran Director Richard Stoneburner Increases Equity Holding Through RSU Vesting and PIPE
Jan 27, 2026
Tamboran Resources Corporation has disclosed a change in the securities held by director Richard Kelty Stoneburner, reflecting an increase in his equity stake in the company. Stoneburner acquired 11,904 common shares at USD$21 per share, primarily...
Tamboran Director Increases Shareholding Following Shareholder-Approved PIPE
Jan 27, 2026
Tamboran Resources Corporation has disclosed a change in director David Neil Siegel’s relevant interests in the company’s securities, following the issue of new shares under a private investment in public equity (PIPE) transaction appr...
Tamboran Director Scott Sheffield Increases Equity Stake via PIPE Share Issue
Jan 27, 2026
Tamboran Resources Corporation has reported a change in director Scott D. Sheffield’s interests in the company’s securities, following the issue of 181,274 common shares to him at USD$21 per share under a previously approved PIPE finan...
Tamboran Director Ryan Dalton Increases Equity Stake After RSU Vesting and PIPE Issue
Jan 27, 2026
Tamboran Resources Corporation has reported a change in the shareholding of director Ryan Dalton, who increased his direct holding through the vesting of restricted stock units and the issue of securities under the company’s PIPE. Following ...
Tamboran Director Fredrick Barrett Increases Equity Stake via RSU Vesting and PIPE Issuance
Jan 27, 2026
Tamboran Resources Corporation has disclosed a change in the securities interests of director Fredrick Barrett, who increased his direct holding through the acquisition of 9,523 common shares at USD$21 per share. Following the transaction, which a...
Tamboran Director Increases Stake Through PIPE Share Issue
Jan 27, 2026
Tamboran Resources Corporation has reported a change in the equity holdings of director Phillip Z. Pace, reflecting additional participation in the company’s capital-raising activities. The director acquired 23,809 new common shares at USD$2...
Tamboran Issues New Restricted Stock Units Under Employee Incentive Scheme
Jan 16, 2026
Tamboran Resources Corporation has issued 65,320 unquoted Restricted Stock Units under its employee incentive scheme, effective 10 January 2026. The allocation of these unquoted securities reflects the company’s continued use of equity-based...
Tamboran Sets Date for 2Q FY26 Earnings Release and Webcast
Jan 14, 2026
Tamboran Resources Corporation will release its second-quarter fiscal 2026 earnings and operational update after the close of NYSE trading on 11 February 2026 (US time). The company’s chairman, Dick Stoneburner, and newly appointed chief exe...
Tamboran Stockholders Back All Resolutions at Special Meeting
Jan 14, 2026
Tamboran Resources Corporation said all resolutions put to its January 14, 2026 special meeting of stockholders were approved by poll, with a majority of votes cast by proxy. The broad shareholder backing for the resolutions underlines support for...
Tamboran Adjusts CDI and Common Stock Balances Across ASX and NYSE
Jan 12, 2026
Tamboran Resources Corporation has reported an increase in CHESS Depositary Interests (CDIs) on issue for December 2025, with total CDIs over quoted securities rising to 1,639,444,200 from 1,635,075,400, primarily due to net transfers between CDIs...
Tamboran Names Veteran Shale Executive Todd Abbott as CEO to Lead Beetaloo Development
Jan 11, 2026
Tamboran Resources Corporation has appointed experienced upstream executive Todd Abbott as Chief Executive Officer, effective 15 January 2026, while Chairman Richard Stoneburner will remain in his current role as chairman. Abbott brings more than ...
Tamboran Wins Key Falcon Shareholder Approval in Push for Full FOGA Ownership
Jan 6, 2026
Tamboran Resources Corporation has secured shareholder approval at Falcon Oil Gas Australia Limited (FOGA) for the sale of Falcon’s 98.1% interest in FOGA, a key milestone in a broader deal under which Tamboran will acquire all Falcon subsi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.