Tamboran Resources Corporation, an Australian natural gas company, announced subscription agreements with institutional investors for a private placement transaction. The company will issue approximately 3.1 million shares in Common Stock in a Private Investment in Public Equity (PIPE) at US$17.74 each, a 15% discount to the closing price on May 12, 2025. The deal is expected to yield US$55.4 million, with an initial US$44.4 million closing on May 16, 2025.

The funding includes US$10 million in support from Bryan Sheffield's Formentera Partners and strong backing from existing shareholders. Proceeds will primarily fund the drilling of three remaining wells for its 40 MMcf/d pilot project, facility construction, and working capital.