$TBN

H&P Research assigned Tamboran Resources (TBN) a risked valuation implying 113% upside, keeping risked NAV at US$67 per TBN share (A$0.47 per ASX CDI) versus a higher market price. It cited completion of a record Beetaloo Basin stimulation campaign, reduced execution risk, and catalysts including first gas in Sep 2026 and possible Orion farm-out. H&P set unrisked value at >US$7.1B and risked at ~US$2.4B.

Tamboran Resources (ASX:TBN, NYSE:TBN, OTC:TBNRL) says it completed the Beetaloo Basin’s largest stimulation campaign, finishing zipper stimulation at three Shenandoah South wells (SS-3H, SS-4H, SS-5H) with 178 stages across ~30,000 feet. First gas sales remain targeted for the September quarter of 2026, with a A$141 million gross budget. Drilling started on SS-7H to SS-9H.

Australia’s S&P/ASX Small Ordinaries Index fell 2.24% to 3,306.20. Among ASX updates, Tamboran (TBN) completed a record Beetaloo stimulation campaign at Shenandoah South wells; Critical Resources (CRR) appointed a technical adviser for licensed two-phase cooling tech; Rokeby (RKB) completed the Omeo Gold Project acquisition; Sky Metals (SKY) reported additional Tallebung drilling assays; Iondrive (ION) appointed Dr Grant Caffery as CEO.

Tamboran Resources (NYSE:TBN) shares opened higher after closing at $32.62, gapping up to $34.29 and last trading at $34.86 on Thursday with 8,631 shares traded. Analysts cited new targets: Roth Mkm $47 (buy), Piper Sandler $74 (overweight), Wells Fargo $58 (overweight), RBC $55 (outperform), while Weiss rated sell (d). The company reported May 13 EPS of ($0.42), below consensus of ($0.36).

Tamboran Resources has completed its acquisition of Falcon Oil & Gas Ltd’s subsidiaries after final court approval from the Supreme Court of British Columbia. The deal adds about 2.8 million net prospective acres in the Beetaloo Basin depocenter, making Tamboran the largest acreage holder in the Northern Territory gas region. Tamboran issued 6,537,503 shares; it has 34,856,412 shares outstanding and a pro forma market cap of about US$1.2 billion.

ASX futures were up 61.9 points (+0.72%) at 9:15am AEST after oil retreated, US bond yields eased and Wall Street hit fresh records. The ASX 200 fell 1.43% on Thursday amid renewed US-Iran military exchange fears. Overnight, S&P 500 rose 0.58% and Nasdaq 0.91%; Brent slipped below US$94.

Tamboran Resources said it completed its acquisition of Falcon Oil & Gas Ltd. subsidiaries after receiving final court approval from the Supreme Court of British Columbia. Tamboran now holds about 2.8 million net prospective acres in the Beetaloo Basin and issued 6,537,503 shares to Falcon shareholders. It has 34,856,412 shares (pro forma market cap ~US$1.2 billion).

Tamboran Resources Corporation has successfully completed an equity raise totaling approximately A$282.6 million, including a retail entitlement offer and an underwritten US public offering. These funds will be primarily used to advance the company's gas development activities in the Beetaloo Basin, focusing on drilling in the Pilot Area, resource delineation, and further drilling at the EP 161 permit. The company recently reported a record initial production rate from its Shenandoah South 6H well, reinforcing the potential of the Beetaloo Basin.

Tamboran Resources (NYSE:TBN) has successfully completed several equity offerings, raising over $50 million. This includes an accelerated institutional entitlement offer generating A$37.1 million from CHESS Depositary Interests, the full exercise of an underwriter option adding $14.7 million, and a portion of a registered direct institutional entitlement offering. The remaining shares from the direct offering are expected to close soon, further bolstering the company's capital.

Wells Fargo has reiterated its "Overweight" rating on Tamboran Resources, indicating a positive outlook for the company's stock. This maintenance of rating suggests that Wells Fargo analysts continue to view Tamboran Resources as a favorable investment opportunity.