Tamboran raises $194M, advances drilling program, and announces Falcon acquisition

Filed May 13, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 14, 2025 · ~2 min read

Key Changes

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  Company raised $194 million in financing during the nine months ended March 31, 2026 (vs. $48 million prior year), including $110 million in equity, $44 million from syndicated debt, and $55 million from joint venture partners. Cash on hand rose to $88 million from $26 million year-over-year.

  MD&A: Liquidity and Capital Resources verify on EDGAR →
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  Federal Court case challenging Shenandoah South Pilot Project heard over four days in June and August 2025; judge has reserved judgment. Case seeks injunction or declaration that project requires federal environmental approval.

  Legal Proceedings verify on EDGAR →
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  Pending Falcon acquisition will issue 6.5 million new shares (diluting existing holders to 81% ownership) with fixed share count but fluctuating market value ranging from $148 million to $327 million based on stock price volatility. Deal subject to regulatory approvals and closing conditions.

  Risk Factors: Falcon Acquisition verify on EDGAR →