Monitor first gas sales expected in Q3 2026 and upcoming drilling results from SS-7H/8H wells. The large capital raise alleviates near-term liquidity concerns but dilutes existing holders.
Price Chart
Executive Summary
Tamboran Resources reported quarterly operational progress for the March 2026 quarter, highlighting a record IP20 flow rate of 10.3 MMcf/d, 88% completion of the Sturt Plateau Compression Facility, and a farmout of ~10,000 acres to Daly Waters Energy for up to $28.5M in carry. The company raised ~$198M net in April 2026, boosting pro forma cash to $298M and extending its runway into 2028. No financial results (revenue or EPS) were reported, as the company remains pre-revenue.
Key Facts
- Agreed farmout of ~10,000 acres to Daly Waters Energy for up to $28.5M carry
- Record IP20 flow rate of 10.3 MMcf/d from SS-6H well
- Sturt Plateau Compression Facility 88% complete, on track for Q3 2026 commissioning
- Raised ~$198M net in April 2026 public offer and entitlement issue
- Pro forma cash of $298M, funded through 2027 programs
- Still a going concern risk flagged in prior filings
Financial Impact
~$198M net capital raised, pro forma cash $298M, no revenue reported
Risk Factors
- Pre-revenue stage with no material sales until H2 2026
- Going concern risk remains despite capital raise
- Dilution from recent equity offerings
- Operational delays or cost overruns at SPCF
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-034591 |
| Document: a260513thirdquarterfy26r.htm | 0001628280-26-034591 |
| Document: a260513tamboran3qfy26res.htm | 0001628280-26-034591 |
| Document: 0001628280-26-034591-index-headers.html | 0001628280-26-034591 |
| Document: 0001628280-26-034591-index.html | 0001628280-26-034591 |
| Document: 0001628280-26-034591.txt | 0001628280-26-034591 |
| 8-K Data (Synthetic) | 0001628280-26-034591 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 28, 2026 21w ago | 8-K | $0.1800 $0.1850 | ▲ +2.78% | ▲ +5.92% | $0.1400 (−22.22%) |
May 13, 2026 23w ago | 8-K | $0.1800 $0.1850 | ▲ +2.78% | ▲ +3.64% | $0.1400 (−22.22%) |
Apr 15, 2026 27w ago | 8-K | $0.1800 $0.1800 | · 0.00% | ▼ −5.82% | $0.1400 (−22.22%) |
Apr 14, 2026 27w ago | 424B5 | $0.1800 $0.1800 | · 0.00% | ▲ +6.30% | $0.1400 (+22.22%) |
Apr 9, 2026 28w ago | 424B5 | $0.1800 $0.1750 | ▲ +2.78% | ▲ +10.35% | $0.1400 (+22.22%) |
Apr 7, 2026 28w ago | 424B5 | $0.1750 $0.1750 | · 0.00% | ▲ +8.54% | $0.1400 (+20.00%) |
Apr 7, 2026 28w ago | 424B5 | $0.1750 $0.1750 | · 0.00% | ▲ +8.54% | $0.1400 (+20.00%) |
Apr 7, 2026 28w ago | S-3ASR | $0.1750 $0.1750 | · 0.00% | ▲ +8.54% | $0.1400 (+20.00%) |
US Market Status
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