Quarterly ResultMay 13, 2026, 04:12 PM
Tamboran Q3 FY26: $298M Pro Forma Cash, $28.5M Farm-out, Record SS-6H Flow
AI Summary
Tamboran Resources Corporation announced its Q3 FY26 financial and operating results, highlighting a significantly strengthened balance sheet with a pro forma cash balance of approximately US$298 million following a US$219 million capital raise and PIPE transaction. The company also secured a US$28.5 million farm-out deal with Daly Waters Energy (DWE) for ~10,000 acres. Operationally, the SS-6H well achieved a record IP20 flow rate of 10.3 MMcf/d, and the Sturt Plateau Compression Facility (SPCF) is 88% complete, on track for first gas sales in Q3 2026.
Key Highlights
- Secured US$28.5 million carry from DWE for a farm-out of ~10,000 acres in Pilot Area and BCDA.
- Pro forma cash balance reached ~US$298 million, including US$95 million cash at March 31, 2026.
- Completed ~US$219 million capital raise and PIPE transaction (net of fees) in Q1/Q2 2026.
- SS-6H well delivered a record IP20 flow rate of 10.3 MMcf/d, with a stable rate of 8.8 MMcf/d.
- Sturt Plateau Compression Facility (SPCF) construction is 88% complete and on budget/schedule.
- First gas sales from SS Pilot Project to Northern Territory on track for 3Q 2026.
- Planning stimulation of at least three wells and drilling of at least two wells in 2026 Beetaloo Basin program.
- Tamboran is funded through to 2028 for growth and appraisal activities.