• Appointed new CEO with over 25 years of upstream experience
• Completed successful drilling and stimulation program in Beetaloo Basin
• Construction of Sturt Plateau Compression Facility and pipeline on track
• Raised US$67.4 million through public offer and share purchase plan

Tamboran Resources Corporation (NYSE: TBN; ASX: TBN) released its second quarter activities report for the period ended December 31, 2025. Key highlights include the appointment of Mr. Todd Abbott as the new Chief Executive Officer, who brings over 25 years of upstream experience. The company also successfully completed the first batch drilling program in the Beetaloo Basin, with the Shenandoah South 4H, -5H and -6H wells drilled and cemented with 10,000-foot horizontal sections. Stimulation activities on the SS-6H well were also completed. Strong progress was made on the construction of the Sturt Plateau Compression Facility, which was 78% completed by the end of January 2026, and the construction of the Sturt Plateau Pipeline was also completed. During the quarter, Tamboran raised US$67.4 million through a US$56.1 million public offer and a US$11.3 million share purchase plan. The company also received shareholder approval for a US$32 million private investment in public equity (PIPE) transaction. Tamboran expects to receive additional funds from the acreage sale to Daly Waters Energy and the completion of the Falcon Oil & Gas Ltd. acquisition in early 2026.

Tamboran expects to achieve first gas sales from the Beetaloo Basin during the third quarter of 2026, subject to weather conditions. The company is well-funded to deliver on this milestone.

Tamboran is preparing for its most active year in the Beetaloo Basin, with plans to participate in more than five well stimulations and the drilling of more than four wells across both the Beetaloo East and West depocenters. The company is also progressing Concept Select studies for the expansion of the Sturt Plateau Compression Facility to up to 100 terajoules per day.