Tamboran Resources Secures Funding for Strategic Drilling Expansion

Tamboran Resources Limited ( (AU:TBN) ) has provided an update.

Tamboran Resources Corporation has successfully closed the first tranche of its Private Investment Public Equity (PIPE) to fund ongoing drilling activities, raising approximately US$38.7 million. The funds will be used for the drilling of wells for the SS Pilot Project, funding the Sturt Plateau Compression Facility, and general working capital. The second tranche, expected to close in August 2025, aims to raise additional funds subject to shareholder approval. This financial move is crucial for Tamboran’s strategic goal of reaching plateau production and enhancing its market position in the natural gas sector.

More about Tamboran Resources Limited

Tamboran Resources Corporation operates in the energy sector, focusing on the exploration and development of natural gas resources. The company is primarily engaged in drilling activities to support its proposed SS Pilot Project in the Beetaloo Basin, aiming to achieve significant production levels.

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Technical Sentiment Signal: Sell

Current Market Cap: A$384.2M

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