Tamboran Completes Acquisition of Falcon Oil & Gas Limited
Key points
- Tamboran has completed the acquisition of Falcon Oil & Gas Ltd.
- Acquisition results in Tamboran holding 2.8 million net prospective acres
- Issued 6,537,503 shares to Falcon shareholders
- Pro forma market capitalization of approximately US$1.2 billion
Full summary
Tamboran Resources Corporation has successfully completed the acquisition of Falcon Oil & Gas Limited, gaining a substantial acreage position in the Beetaloo Basin. The acquisition was finalized following court approval and involves Tamboran issuing 6,537,503 shares to Falcon shareholders, resulting in a pro forma market capitalization of approximately US$1.2 billion. This strategic move positions Tamboran as the largest acreage holder in the Beetaloo Basin depocenter, enhancing its exploration and production capabilities.
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