Australia · Delayed Price · Currency is AUD Tamboran Resources Earnings Call Transcripts
Fiscal Year 2026
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Significant progress was made in Beetaloo Basin development, including a major farm-out deal, strong capital raises, and nearing completion of the Falcon acquisition. First gas sales are on track for Q3, with robust operational and financial positioning supporting future growth.
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Stockholders approved the issuance of shares to Falcon Oil & Gas Ltd. and Falcon Australia shareholders as part of an acquisition, with all proposals passing by majority vote. No shareholder questions were received, and results will be disclosed on NYSE and ASX.
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Q2 FY2026 saw major operational progress, including the largest Beetaloo Basin stimulation and nearing first gas sales in Q3 2026. Financially, $91M cash and $47M in near-term inflows support ongoing projects, with expansion and stakeholder engagement underway.
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Sanctioned a major pilot project and completed a key acquisition, boosting acreage and funding. Construction and drilling activities are on schedule and within budget, with first gas sales targeted for mid-2026 and strong market demand supporting growth.
Fiscal Year 2025
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Record well performance and improved drilling efficiency marked the quarter, with strong cash reserves and infrastructure progress supporting a mid-2026 gas sales target. Farmout and financing processes are advancing, while long-term growth hinges on regulatory and partnership milestones.
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The meeting focused on approving 13 proposals related to PIPE financing and share issuances, all of which passed with a majority vote. No shareholder questions were raised, and the board and executive team were introduced. Results will be disclosed on the NYSE and ASX.
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Shenandoah South 2H set a Beetaloo Basin record with a 30-day flow test of 7.2 million cu ft/day, showing low decline and strong reservoir pressure. Operational improvements and cost reductions position the project to deliver 40 million cu ft/day by mid-2026, with further optimization and a farm-out process underway.
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35-stage completion and flow test of SS2H well underway, with IP30 results due in June. Fully funded for three new wells and on track for mid-2026 first gas. $70M capital raise boosts cash to $96M, supporting drilling and development.
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Record drilling and completion performance achieved, with SS-3 drilled 43% faster than prior wells and strong gas shows in both SS-2 and SS-3. Pipeline agreements and data center strategy advance, while cost reduction initiatives and financing options are underway.
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SS-2 and SS-3 wells achieved record drilling and completion metrics, with IP30 flow tests targeted for April and June. Pipeline agreements and a data center strategy support long-term growth, while cash reserves and funding options position the company for continued development.
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Drilling efficiency improved significantly with the SS-2H sidetrack, aided by a new mud system, and both SS-2H sidetrack and SS-3H wells are on track for completion by year-end. Cash position remains strong at AUD 82 million, with cost reductions expected from a new local sand mine.
Fiscal Year 2024
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The meeting covered director elections, auditor appointment, and share issuances, all of which were approved by a majority of shares represented. No shareholder proposals or questions were submitted, and all governance procedures were followed.
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Six major milestones achieved, including record flow rates, a successful IPO, and strategic agreements with major energy partners. Pilot drilling is on track, with results expected in Q1 2025, and cost efficiencies are anticipated from new equipment and local sand sourcing.