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Tamboran Resources Limited
(Sydney:TBN)
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Rating:47Neutral
Price Target:
AU$0.22
â–¼(-9.58% Downside)
Action:Reiterated
Date:06/16/26
The score is primarily held back by weak financial performance (no revenue, wider losses, and significantly higher cash burn), partially offset by a relatively supportive balance sheet with moderate leverage. Technical indicators are broadly neutral, providing limited incremental support, while valuation is constrained by negative earnings and the absence of a dividend yield.
Positive Factors
Sizable equity base
A substantial equity base and growing asset base give Tamboran multi‑year funding capacity for capital‑intensive exploration and appraisal. This structural cushion reduces immediate refinancing pressure, supports continued drilling programs, and preserves optionality while projects progress toward commercialization.
Negative Factors
Pre-revenue profile
Absence of any recorded revenue across multiple years means the business model remains unproven commercially. Structural reliance on successful appraisal and lengthy development timelines elevates execution risk, leaves no margin cushion, and forces dependence on external funding until production starts.
Read all positive and negative factors
Positive Factors
Negative Factors
Sizable equity base
A substantial equity base and growing asset base give Tamboran multi‑year funding capacity for capital‑intensive exploration and appraisal. This structural cushion reduces immediate refinancing pressure, supports continued drilling programs, and preserves optionality while projects progress toward commercialization.
Read all positive factors
Tamboran Resources Limited (TBN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.90B
Dividend YieldN/A
Average Volume (3M)3.64M
Price to Earnings (P/E)―
Beta (1Y)0.72
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees47
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding6,971,282,000
10 Day Avg. Volume4,216,401
30 Day Avg. Volume3,641,521
Financial Highlights & Ratios
PEG Ratio-2.29
Price to Book (P/B)1.73
Price to Sales (P/S)0.00
P/FCF Ratio-3.57
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.22
Revenue Forecast (FY)AU$50.25M
Tamboran Resources Limited Business Overview & Revenue Model
Company Description
Tamboran Resources Limited is an Australian natural gas company specializing in the development of unconventional gas reserves. Its portfolio includes significant stakes in exploration licenses within the Northern Territory's Beetaloo Sub-basin. T...
How the Company Makes Money
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Tamboran Resources Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
55
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -1.10M | -1.14M | -1.03M | -118.33K | -562.10K | -447.56K |
| EBITDA | -34.82M | -38.82M | -29.42M | -28.61M | -10.18M | -18.69M |
| Net Income | -25.32M | -37.22M | -33.45M | -47.62M | -10.80M | -23.82M |
Balance Sheet | ||||||
| Total Assets | 446.46M | 446.46M | 358.64M | 255.46M | 134.07M | 112.57M |
| Cash, Cash Equivalents and Short-Term Investments | 45.16M | 39.44M | 74.75M | 26.81M | 26.81M | 63.08M |
| Total Debt | 26.40M | 50.35M | 27.89M | 723.54K | 1.11M | 1.47M |
| Total Liabilities | 57.01M | 57.01M | 50.96M | 34.62M | 5.46M | 8.20M |
| Stockholders Equity | 287.72M | 287.72M | 262.72M | 209.62M | 128.61M | 104.36M |
Cash Flow | ||||||
| Free Cash Flow | -72.03M | -139.77M | -75.10M | -156.78M | -65.95M | -21.85M |
| Operating Cash Flow | -20.23M | -29.64M | -11.40M | -19.36M | -11.06M | -8.63M |
| Investing Cash Flow | -53.52M | -98.77M | -66.11M | -128.54M | -56.12M | -13.21M |
| Financing Cash Flow | 90.65M | 101.06M | 146.39M | 131.64M | 31.11M | 79.34M |
Tamboran Resources Limited Technical Analysis
Positive
0.24
Price Trends
0.24
Positive
0.24
Positive
0.23
Positive
Market Momentum
<0.01
Negative
77.67
Negative
71.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:TBN, the sentiment is Positive. The current price of 0.24 is below the 20-day moving average (MA) of 0.26, below the 50-day MA of 0.24, and above the 200-day MA of 0.23, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 77.67 is Negative, neither overbought nor oversold. The STOCH value of 71.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:TBN.
Tamboran Resources Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | AU$1.21B | 7.35 | 12.15% | 2.42% | -19.58% | -39.27% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | AU$1.96B | 6.96 | 8.74% | 3.45% | -8.77% | ― | |
53 Neutral | AU$187.85M | -37.50 | -0.67% | ― | ― | -149.12% | |
47 Neutral | AU$1.90B | -25.08 | -8.80% | ― | ― | ― | |
44 Neutral | AU$413.93M | -2.17 | -46.22% | ― | -0.51% | -756.45% | |
39 Underperform | AU$406.96M | -15.98 | -12.35% | ― | ― | 25.55% |
* Energy Sector Average
AU:TBN
Tamboran Resources Limited
0.30
0.13
80.72%
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0.87
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-24.08%
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Carnarvon Energy Limited
0.11
<0.01
5.00%
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0.28
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Karoon Energy Ltd
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Strike Energy Limited
0.12
<0.01
4.55%
Tamboran Resources Limited Corporate Events
Tamboran Issues New Securities to Falcon Australia Minority Shareholders
Jul 31, 2026
Tamboran Resources Corporation has issued 9,964,200 new CHESS Depositary Interests and 10,438 new common shares to minority shareholders of Falcon Oil Gas Australia Limited in exchange for their holdings in Falcon Australia. The securities were i...
Tamboran seeks ASX quotation for nearly 10m new CDIs
Jul 30, 2026
Tamboran Resources Corporation has applied for quotation on the ASX of 9,964,200 new CHESS Depositary Interests (CDIs), issued on 24 July 2026. These CDIs were issued to certain minority shareholders of Falcon in consideration for their Falcon sha...
Tamboran Resources Issues Additional Unquoted Common Stock
Jul 30, 2026
Tamboran Resources Corporation, an energy-sector company focused on oil and gas exploration and development, is listed on the ASX under the code TBN and uses a mix of quoted and unquoted equity securities to fund its projects and broader corporate...
Tamboran issues new CDIs after equity plan vesting
Jul 10, 2026
Tamboran Resources Corporation has issued 5,416,800 new CHESS Depositary Interests following the vesting of Restricted Stock Units granted under its 2024 Equity Incentive Plan. The issuance, conducted without a disclosure document under Australia&...
Tamboran adjusts CDI and common stock balances across ASX and NYSE
Jul 7, 2026
Tamboran Resources has reported a net decrease in CHESS Depositary Interests on issue for June 2026, with CDIs falling to about 1.399 billion, primarily due to net transfers between CDIs and common stock held or quoted on the NYSE. This shift is a...
Tamboran issues new shares under 2024 equity incentive plan
Jun 30, 2026
Tamboran Resources Corporation has issued 6,667 new common shares following the vesting of restricted stock units granted under its 2024 Equity Incentive Plan. The issuance was conducted without a prospectus under Australian corporate law provisio...
Tamboran Issues Unquoted Shares Under Employee Incentive Scheme
Jun 30, 2026
Tamboran Resources Corporation has issued 6,667 unquoted common stock securities under its employee incentive scheme, with the shares recorded as being granted on 29 June 2026. These securities are not intended to be quoted on the ASX, reflecting ...
Tamboran Resources Issues Over 6.5 Million Unquoted Common Shares
Jun 5, 2026
Tamboran Resources Corporation has notified the market of the issue of 6,537,503 unquoted common stock securities, with an issue date of 29 May 2026. The new securities update the company’s capital base and may have implications for existing...
Tamboran Issues New Shares to Falcon Holders After Acquisition Completion
Jun 5, 2026
Tamboran Resources Corporation has issued 6,537,503 new common shares to eligible shareholders of Falcon Oil Gas at a set exchange ratio, following completion of Falcon’s acquisition via its subsidiaries. The company has confirmed that the ...
Tamboran Director Increases Equity Stake via RSU Awards
Jun 5, 2026
Tamboran Resources Corporation has reported a change in director Richard Stoneburner’s interest in company securities, reflecting additional restricted stock units issued under its 2024 Equity Incentive Plan and as an annual director award i...
Tamboran boosts director equity holdings through RSU awards
Jun 5, 2026
Tamboran Resources Corporation has disclosed a change in the equity interests of director Andrew Robb, following the allocation of additional restricted stock units. Robb’s direct holdings in common stock remain at 2,000 shares, while his co...
Tamboran Director Phillip Pace Receives New Equity Awards
Jun 5, 2026
Tamboran Resources Corporation has reported a change in director Phillip Z. Pace’s interests following the grant of restricted stock units. Pace received two allocations of common stock RSUs on 1 June 2026 under the company’s 2024 Equi...
Tamboran director restructures equity holdings and receives additional RSUs
Jun 5, 2026
Tamboran Resources Corporation has disclosed changes in director Patrick James Dymock Elliott’s interests in the company’s securities, including additional restricted stock units issued under the 2024 Equity Incentive Plan and an annua...
Tamboran Director Increases Equity Stake Through RSU Grant
Jun 5, 2026
Tamboran Resources Corporation has disclosed a change in director Jeffrey Lance Bellman’s interests, following the issue of additional restricted stock units under the company’s 2024 Equity Incentive Plan. The award, taken in lieu of d...
Tamboran updates market on director Fredrick Barrett’s increased equity holdings
Jun 5, 2026
Tamboran Resources Corporation has reported a change in director Fredrick Barrett’s interest in the company’s securities, reflecting additional holdings of restricted stock units. The update details his direct and joint holdings of com...
Tamboran Issues New Tranche of Unquoted Restricted Stock Units
Jun 5, 2026
Tamboran Resources Corporation has issued a total of 54,830 unquoted restricted stock units under its employee incentive scheme, with 28,052 units issued on May 27, 2026, and a further 26,778 units on June 1, 2026. The move reflects the company...
Tamboran adjusts CDI and common stock balances across ASX and NYSE
Jun 5, 2026
Tamboran Resources reported changes in its capital structure for May 2026, detailing a reduction in ASX-listed CDIs to 1,464,690,400, down from 1,605,842,200, primarily due to net transfers between CDIs and common stock. The company also disclosed...
Tamboran adjusts CDI and common stock balances across ASX and NYSE
May 5, 2026
Tamboran Resources Corporation reported a modest increase in CHESS Depositary Interests on issue for April 2026, with TBN CDIs rising to about 1.51 billion, driven by net transfers between CDIs and common stock. The filing also details movements i...
Tamboran Seeks ASX Quotation for 99 Million New CDIs
May 1, 2026
Tamboran Resources Corporation has applied to the ASX for quotation of 99,375,000 additional CHESS Depositary Interests, each representing 200 underlying securities, to be issued on 4 May 2026. The new securities, issued as part of a previously an...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.