Tamboran to acquire Falcon Oil & Gas for C$239M, creating ~2.9M-acre Beetaloo Basin leader

Tamboran Resources Corp

Tamboran issues 6.5M shares and pays US$23.7M for all Falcon subsidiaries; implied C$0.2154/share, a 19.7% premium to Falcon's last close.
Pro forma market capitalization >US$500M; Falcon shareholders to own ~26.8% of combined company.
Transaction strengthens Tamboran's working interest in Phase 2 Development Area to 80.62% ahead of planned farmout process.
Deal adds ~2.9 million net prospective acres across the Beetaloo depocenter, including 22.5% non-operating interest in DWE checkers.
Expected to close in Q1 2026, subject to Falcon shareholder and Tamboran stockholder approvals, court approval, and minority shareholder approval.

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