secwatch.observer — SEC 8-K summary
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Issuer:     Tamboran Resources Corp (TBN)
CIK:        0001997652
Form:       8-K
Filed at:   2025-05-14T23:59:59+00:00
Accession:  0001628280-25-025482
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tamboran raises $55.4M PIPE, completes SS-2H ST1 stimulation, begins flow test
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- SS-2H ST1 well: 35 stages over 5,483 ft, 62-day soak, flow testing started mid-May 2025; IP30 expected mid-June.
- PIPE raised $55.4M (pre-fees) at $17.74/share, 15% discount; $44.4M closing May 16, $11M subject to shareholder approval.
- Checkerboard with DWE finalized; DWE acquires 100,000 acres for $15M, subject to approvals.
- 406,693 gross acres reserved as Phase 2 Development Area; RBC Capital Markets engaged for farmout.
- Pro forma cash ~$96M; company fully funded for drilling three wells from mid-2025 and stimulation campaign for four wells.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1997652/000162828025025482/0001628280-25-025482-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1997652/000162828025025482/trc-20250514.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-025482

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