TBN · Tamboran Resources Corp

Tamboran Resources executed a significant equity capital raise through an underwritten public offering, pricing 2,956,602 shares at $35.00 each on April 7, 2026, with the transaction closing on April 9, 2026. The deal was led by RBC Capital Markets, LLC and Wells Fargo Securities, LLC as representatives, with standard representations, warranties, indemnification, and a 30-day overallotment option for 443,491 additional shares. Gross proceeds are approximately $103.5 million, netting $97.3 million after underwriter discounts and expenses. These funds are earmarked for critical exploration and development activities in key Beetaloo Basin assets: additional drilling in the Pilot Area, resource delineation across Orion Acreage and Beetaloo Central Development Area, and drilling in EP 161 acreage, alongside working capital needs. Concurrently, the company launched a registered direct institutional entitlement offer at the same $35.00 price, expected to close around April 14, 2026, pursuant to the same S-3 shelf registration (File No. 333-294908). This dual-structure financing provides substantial liquidity for Tamboran's growth strategy as the largest acreage holder in the Beetaloo Basin, supporting accelerated natural gas development without immediate debt incurrence. The offering was supported by legal opinions from Latham & Watkins LLP and press releases detailing the launch and pricing.