Tamboran Secures $28.5M Farm-In Agreement with Daly Waters Energy, Validating Beetaloo Acreage

summarizeSummary

Tamboran Resources' subsidiary entered a Farm-In Agreement with Daly Waters Energy, LP, securing a staged earn-in of up to $28.5 million for its Beetaloo Basin acreage, which is part of a joint venture with INPEX Corporation.

check_boxKey Events

• Secures $28.5 Million Farm-In

  Tamboran's subsidiary entered an agreement with Daly Waters Energy (DWE) for a staged earn-in of up to US$28.5 million, providing a carry commitment for future work programs.

• Acreage Farm-Down

  Approximately 10,000 acres of working interest across the Shenandoah North Pilot Area, Shenandoah South Pilot Area, and Beetaloo Central Development Area will be farmed down to DWE.

• Strategic Partnership with INPEX

  The agreement is part of DWE's joint venture with INPEX Corporation, a major E&P company, signaling strong confidence in Tamboran's assets and potential for gas commercialization.

• Balance Sheet Strength & Commercialization

  The capital carry accelerates development, preserves balance sheet strength, and is a critical step towards commercializing the Beetaloo Basin, supporting the goal of first gas by Q3 2026.

auto_awesomeAnalysis

This Farm-In Agreement provides a substantial capital carry for Tamboran's Beetaloo Basin development, significantly strengthening its balance sheet and accelerating activity without direct equity dilution. The involvement of INPEX Corporation through Daly Waters Energy validates the value of Tamboran's acreage and provides a credible pathway towards gas commercialization, which is crucial for a company that previously reported a going concern warning. This strategic partnership is a key step towards achieving first gas sales by Q3 2026.