Tamboran Resources Limited (AU:TBN)
ASX:TBN
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Tamboran Resources Limited
(Sydney:TBN)
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Rating:54Neutral
Price Target:
AU$0.24
â–Ľ(-9.62% Downside)
Action:Reiterated
Date:04/10/26
The score is held back primarily by weak financial performance (no revenue, widening losses, and heavier cash burn with rising debt), partly offset by strong technical momentum (price above key moving averages with positive MACD). Valuation remains constrained by loss-making status and no dividend support.
Positive Factors
Beetaloo acreage focus
Concentrated acreage in the Beetaloo Sub-basin provides a durable strategic advantage: a single-basin focus improves operational efficiency, geological knowledge, and potential scale economies. Over months, this supports clearer development plans, JV interest, and the path to domestic/export gas monetization if appraisal succeeds.
Negative Factors
Pre-revenue status
Being pre-revenue over multiple years leaves the company reliant on external capital rather than operational cashflows. Persistent lack of realized sales means project economics remain theoretical; until commercial gas sales commence, the firm faces funding, execution and timing risk that materially affect long-term viability.
Read all positive and negative factors
Positive Factors
Negative Factors
Beetaloo acreage focus
Concentrated acreage in the Beetaloo Sub-basin provides a durable strategic advantage: a single-basin focus improves operational efficiency, geological knowledge, and potential scale economies. Over months, this supports clearer development plans, JV interest, and the path to domestic/export gas monetization if appraisal succeeds.
Read all positive factors
Tamboran Resources Limited (TBN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.70B
Dividend YieldN/A
Average Volume (3M)3.71M
Price to Earnings (P/E)―
Beta (1Y)0.91
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees39
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding5,124,778,300
10 Day Avg. Volume3,263,968
30 Day Avg. Volume3,713,582
Financial Highlights & Ratios
PEG Ratio-2.30
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)-1.17
Revenue Forecast (FY)AU$10.82M
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 tied to commercializing natural gas resources from its upstream assets. In general, upstream gas companies generate revenue by (1) producing and selling natural gas (and any associated liquids, if present) into ...
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 | -1.10M | -1.14M | -1.03M | -118.33K | -562.10K | -447.56K |
| EBITDA | -34.82M | -38.82M | -29.42M | -28.61M | -10.18M | -18.69M |
| Net Income | -25.32M | -37.22M | -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 | 209.62M | 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 | 146.39M | 131.64M | 31.11M | 79.34M |
Tamboran Resources Limited Technical Analysis
Positive
0.26
Price Trends
0.25
Negative
0.23
Positive
0.21
Positive
Market Momentum
>-0.01
Positive
48.27
Neutral
29.28
Neutral
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 0.26 is above the 20-day moving average (MA) of 0.24, above the 50-day MA of 0.25, and above the 200-day MA of 0.21, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 48.27 is Neutral, neither overbought nor oversold. The STOCH value of 29.28 is Neutral, 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$358.07M | 30.98 | 19.33% | 14.63% | -4.78% | -42.11% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
54 Neutral | AU$1.70B | -13.29 | -21.66% | ― | ― | ― | |
53 Neutral | AU$214.69M | -123.47 | -0.67% | ― | ― | -149.12% | |
51 Neutral | AU$431.93M | -2.54 | -46.22% | ― | -0.51% | -756.45% | |
49 Neutral | AU$428.89M | -14.24 | -14.19% | ― | ― | 25.55% | |
47 Neutral | AU$167.50M | -47.77 | -4.27% | ― | ― | -16.67% |
* Energy Sector Average
AU:TBN
Tamboran Resources Limited
0.25
0.09
57.05%
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Comet Ridge Ltd
0.13
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Carnarvon Energy Limited
0.12
<0.01
9.09%
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Empire Energy Group Limited
0.29
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58.33%
AU:HZN
Horizon Oil Limited
0.22
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AU:STX
Strike Energy Limited
0.12
-0.06
-32.35%
Tamboran Resources Limited Corporate Events
Tamboran adjusts CDI and common stock balances across ASX and NYSE
May 5, 2026
Tamboran Resources Corporation reported a modest increase in CHESS Depositary Interests on issue for April 2026, with TBN CDIs rising to about 1.51 billion, driven by net transfers between CDIs and common stock. The filing also details movements i...
Tamboran Seeks ASX Quotation for 99 Million New CDIs
May 1, 2026
Tamboran Resources Corporation has applied to the ASX for quotation of 99,375,000 additional CHESS Depositary Interests, each representing 200 underlying securities, to be issued on 4 May 2026. The new securities, issued as part of a previously an...
Tamboran sets date for Q3 FY26 results and Beetaloo webcast
Apr 28, 2026
Tamboran Resources plans to release its third quarter fiscal 2026 earnings and operational update after the close of NYSE trading on 13 May 2026 in the U.S. The disclosure will include commentary on activities in the Beetaloo Basin, underscoring t...
Tamboran director increases stake via entitlement offer
Apr 20, 2026
Tamboran Resources Corporation has disclosed a change in director Richard Kelty Stoneburner’s interests in the company’s securities, in line with ASX listing rule requirements. The notice details his direct and joint holdings, reflecti...
Tamboran director Siegel lifts stake via entitlement offer
Apr 20, 2026
Tamboran Resources Corporation has disclosed a change in director David Neil Siegel’s interest in the company’s securities, detailing purchases of additional common stock by both Siegel and his son through DNS Capital Partners LLC. Fol...
Tamboran Director Scott Sheffield Increases Stake via Entitlement Offer
Apr 20, 2026
Tamboran Resources Corporation has disclosed a change in the shareholding of director Scott D. Sheffield, who increased his indirect and direct interests in the company’s common stock. The update, lodged with the ASX, reflects his participat...
Tamboran Director Increases Stake Through Entitlement Offer
Apr 20, 2026
Tamboran Resources Corporation has disclosed a change in the shareholding of director Phillip Z. Pace, in line with ASX listing rule requirements. The filing notes that Pace held 35,809 common shares before the transaction and that his interests a...
Tamboran Director Increases Shareholding Through Entitlement Offer
Apr 20, 2026
Tamboran Resources has disclosed a change in director Ryan Dalton’s holdings following his participation in an entitlement offer. Dalton acquired 4,632 additional common shares for a consideration of $162,120, increasing his direct holdings ...
Tamboran director boosts equity stake through vesting and entitlement offer
Apr 20, 2026
Tamboran Resources Corporation has disclosed a change in the interests of director Jeffrey Lance Bellman, following recent equity-related transactions. His holdings increased through the vesting of restricted stock units and participation in a cap...
Tamboran director boosts stake through entitlement offer
Apr 20, 2026
Tamboran Resources director Fredrick Barrett has increased his direct holding in the company by acquiring 5,714 common shares for $199,990 through participation in an entitlement offer. Following the transaction on 15 April 2026, Barrett directly ...
Tamboran Director Increases Shareholding Through On-Market Purchase
Apr 16, 2026
Tamboran Resources Corporation has disclosed a change in director Phillip Z. Pace’s holdings, following an on-market purchase of additional company shares. The transaction reflects routine director dealing and slightly increases insider owne...
Tamboran Director Scott Sheffield Increases Indirect Shareholding via On-Market Purchase
Apr 16, 2026
Tamboran Resources Corporation has disclosed a change in director Scott D. Sheffield’s interests in the company’s common stock, as required under ASX listing rules. Sheffield holds shares both directly and indirectly through broker-dea...
Tamboran Issues New Securities Under Accelerated Entitlement Offer
Apr 16, 2026
Tamboran Resources Corporation has issued 148,308,400 new CHESS Depositary Interests at A$0.25 each and 1,013,110 new fully paid common shares at US$35.00 each. The securities were issued under the institutional component of its partially underwri...
Tamboran Issues Over 1 Million Unquoted Common Shares
Apr 16, 2026
Tamboran Resources Corporation has issued 1,013,110 unquoted common stock securities, designated as TBNAM, effective 16 April 2026. These securities form part of a previously announced transaction and are not intended to be quoted on the ASX, indi...
Tamboran issues 443,491 unquoted common shares under prior transactions
Apr 16, 2026
Tamboran Resources Corporation has notified the market of the issue of 443,491 unquoted common stock securities, recorded under the ASX code TBNAM. The new shares, issued on 15 April 2026, form part of previously announced transactions and are not...
Tamboran Seeks ASX Quotation for 148 Million New CDIs
Apr 15, 2026
Tamboran Resources Corporation has applied to the ASX for quotation of 148,308,400 new CHESS Depositary Interests (CDIs) under the code TBN, with an issue date of 16 April 2026. The move expands the company’s listed securities base, potentia...
Tamboran corrects common stock figure in unchanged March CDI update
Apr 14, 2026
Tamboran Resources Corporation reported no change in the total number of CHESS Depositary Interests (CDIs) on issue for March 2026, with 1,649,547,000 CDIs on issue at month-end, maintaining the same level as the previous month. The number of unde...
Tamboran outlines terms and limits of A$283m equity raising and retail entitlement offer
Apr 13, 2026
Tamboran Resources Corporation has launched an accelerated, non-renounceable pro rata entitlement offer to existing investors, as part of a broader equity raising of about US$198 million, including a US$103.5 million fully underwritten U.S. public...
Tamboran Opens Retail Entitlement Offer After Raising US$163 Million
Apr 13, 2026
Tamboran Resources has opened the retail component of its pro rata accelerated non-renounceable entitlement offer to eligible retail securityholders, with the offer set to close on 27 April 2026. The move follows the completion of a US public offe...
Tamboran issues nearly 3 million new unquoted common shares
Apr 10, 2026
Tamboran Resources Corporation has issued 2,956,602 unquoted common shares, recorded under the ASX security code TBNAM, with an issue date of 9 April 2026. The move modestly increases the company’s equity base and may reflect ongoing capital...
Tamboran taps investors for up to US$198m to fast-track Beetaloo gas push
Apr 9, 2026
Tamboran Resources Corporation has launched a multi-pronged capital raising of up to about US$198 million, combining a US$103 million underwritten U.S. public offer with an institutional entitlement offer that has already secured roughly US$60 mil...
Tamboran flags equity raising to accelerate Beetaloo gas development
Apr 8, 2026
Tamboran Resources has outlined plans for an equity raising intended to unlock and accelerate development activities in the Beetaloo Basin in Australia’s Northern Territory. The company positions the transaction as a key step in funding its ...
Tamboran Launches US$198 Million Pro Rata Capital Raising
Apr 8, 2026
Tamboran Resources Corporation has launched a major capital raising that combines an underwritten U.S. public offering with an accelerated non-renounceable pro rata entitlement offer to existing investors. The offer, priced at US$0.175 per new CDI...
Tamboran Resources launches accelerated entitlement offer to raise equity capital
Apr 8, 2026
Tamboran Resources Corporation has outlined plans for an accelerated non-renounceable entitlement offer, signalling a new capital raising initiative through the issue of common stock and CDIs. The proposed offer includes up to 2,266,729 common sha...
Tamboran Resources Plans Placement of Over 3.4 Million New Shares
Apr 8, 2026
Tamboran Resources Corporation has notified the ASX of a proposed equity issuance under a placement or similar structure, seeking to issue up to 3,400,093 common shares. The new securities, trading under the ASX code TBNAM, are scheduled for issue...
Tamboran launches US$198m equity raise to accelerate Beetaloo gas development
Apr 8, 2026
Tamboran Resources has launched a major equity raising of approximately US$198 million, combining an underwritten public offering and a pro rata accelerated non-renounceable entitlement offer at a discount to its last NYSE trading price. The compa...
Tamboran Prices US$103.5 Million Equity Offering to Accelerate Beetaloo Gas Development
Apr 8, 2026
Tamboran Resources has priced an underwritten public offering of 2,956,602 shares of common stock at US$35.00 per share, with a 30-day option for underwriters to purchase up to an additional 443,491 shares. The transaction is expected to generate ...
Tamboran launches equity offering to accelerate Beetaloo gas development
Apr 8, 2026
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 Pi...
Tamboran launches dual equity offerings to fund Beetaloo drilling and development
Apr 8, 2026
Tamboran Resources has launched a registered direct institutional entitlement offer of common stock to qualified institutional buyers and accredited investors in the U.S., alongside an equivalent offer to eligible existing holders of common stock ...
Tamboran Seeks Trading Halt as It Launches Major Capital Raising
Apr 8, 2026
Tamboran Resources Corporation has requested a trading halt for its securities on the ASX as it prepares a major capital raising via an underwritten public offering and a pro rata accelerated non-renounceable entitlement offer. Trading is expected...
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...
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.