Tamboran Resources Limited Stock Market Press Releases and Company Profile
Tamboran Completes Successful A$137 Million Equity Raise
Tamboran Completes Successful A$137 Million Equity Raise

Sydney, Oct 31, 2022 AEST (ABN Newswire) - Tamboran Resources Limited (ASX:TBN) (TBNRF:OTCMKTS) is pleased to advise that it has successfully completed its equity raise announced on Tuesday, 20 September 2022 to raise approximately A$137 million through a two-tranche placement (Placement) and share purchase plan (SPP) (together the Equity Raise).

The Placement to new and existing shareholders of approximately A$137 million where 652,452,288 shares were issued at A$0.21 per Share was structured as follows:

- Tranche 1 - comprising the issue of 186,839,878 new fully paid ordinary shares in Tamboran to institutional, sophisticated and professional investors representing 25% of Tamboran's pre-raise issued capital, raising approximately A$39.2 million and issued using Tamboran's existing placement capacity under ASX Listing Rules 7.1 and 7.1A.

- Tranche 2 - comprising the issue of 465,612,410 new fully paid ordinary shares in Tamboran to Tamboran's investors to raise approximately A$97.8 million. The institutional placement included a $98 million private placement of shares to strategic partners and US cornerstone investors, supported by investments of $30 million by Sheffield and $22 million by Helmerich and Payne (H&P).

The SPP followed the successful Placement and provided eligible shareholders with the opportunity to apply for up to $30,000 worth of new shares. Applications received from eligible shareholders totalled A$3,401,800 meaning 16,198,945 new fully paid ordinary shares were issued under the SPP on Thursday, 20 October 2022 and commenced trading on the ASX on Friday, 21 October 2022.

The funds raised under the Placement and SPP will be used by Tamboran to fund an acquisition by the Company of an interest in and operatorship of natural gas assets in the Beetaloo Sub-basin, the Company's ongoing exploration and development programs in the Beetaloo Sub-basin, for general working capital purposes and for costs of the Equity Raising. For details of the allocation of funds please see Tamboran's announcement of the acquisition and equity raise to ASX on 20 September 2022.

The Company is delighted to announce that all conditions precedent have been satisfied in respect of the acquisition of Origin's Beetaloo assets including Ministerial Approval and is looking forward to completion occurring in due course.

About Tamboran Resources Limited

Tamboran Resources LtdTamboran Resources Ltd (ASX:TBN) is a natural gas company that intends to play a constructive role in the global energy transition towards a lower carbon future by developing low CO2 unconventional natural gas resources in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. Tamboran's key assets are a 25% working interest in EP 161 and a 100% working interest in EP 136, EP 143 and EP(A) 197 which are located in the Beetaloo Sub-basin.



Investor enquiries:
Chris Morbey
Vice President - Investor Relations

Media enquiries:
+61 2 8330 6626

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