Tamboran completes NYSE IPO raising US$82M; SS-1H well achieves record flow rate in Beetaloo Basin

Tamboran Resources Corp

IPO of 3.4M shares at US$24.00 raised US$82M (gross) to fund two-well 2024 drilling program.
SS-1H well IP90 average of 2.9 MMcf/d over 1,644 ft, normalized to 5.8 MMcf/d – highest rate in Beetaloo.
Signed binding 9-year GSA with NTG for 40 TJ/day (~19 TJ/day net) from Shenandoah South Pilot Project.
As at 30 June 2024, cash A$111.6M (US$73.9M) with no debt; H&P convertible note converted to equity.
Two-well drilling (SS-2H, SS-3H) with ~10,000 ft laterals planned H2 2024; flow results expected Q1 2025.

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