Tamboran enters farm-in agreement with DWE for ~10,000 acres, up to $28.5M earn-in

Tamboran Resources Corp

Phase 1 carry of US$11.6M for Pilot Area work program; Phase 2 additional US$11.6M for BCDA.
Milestone carry up to US$5.3M upon certain conditions; total potential $28.5M.
Transaction contingent on Tamboran completing Falcon Oil & Gas acquisition and INPEX/DWE farm-in conditions.
Post-transaction ownership changes: Tamboran reduces stakes in Pilot Area and BCDA; DWE increases.
CEO states implied valuation well above recent traded metrics; first gas target Q3 2026.

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