Tamboran Resources Expands Share Offering for Drilling Projects

Tamboran Resources Limited (AU:TBN) has released an update.

Tamboran Resources Corporation has announced that underwriters have partially exercised their option to purchase additional shares post-IPO, contributing to a gross proceeds of US$7.4 million, which will be utilized to fund drilling activities in the Beetaloo Basin’s Shenandoah South Pilot Project. The additional 308,750 shares are being sold at the IPO price of US$24.00 per share, with closing expected by July 30, 2024. This move signifies Tamboran’s ongoing efforts to expand its natural gas projects, in line with its goal for a lower carbon future.

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