Tamboran raises $55.4M via PIPE, sells 100K acres to DWE for $15M

Tamboran Resources Corp

PIPE of 3.1M shares at $17.74/share; $44.4M expected to close May 16, 2025, $11M subject to shareholder approval.
DWE to acquire non-operating interest in 100,000 acres for $15M ($150/acre) under Asset Sale Agreement.
Second Amended JVSA completed; Tamboran retains ~1.9M net prospective acres across Beetaloo Basin.
Tamboran to hold 58.12% operated interest in 236,370 net acres of Phase 2 Development Area post-transaction.
Proceeds to fund development of Beetaloo Basin assets targeting Australian East Coast gas market.

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