Tamboran Resources Corp 8-K

What Happened
Tamboran Resources Corp (TBN) reported on March 30, 2026 that its subsidiary Tamboran (Beetaloo) Pty Limited entered a Farm‑In Agreement with Daly Waters Energy, LP (DWE). Under the agreement Tamboran will farm down approximately 10,000 acres of its working interest across the Shenandoah North Pilot Area, Shenandoah South Pilot Area and the Beetaloo Central Development (BCD) Area. The Farm‑In includes a staged earn‑in structure of up to approximately US$28.5 million and grants a milestone carry right to Tamboran Limited. The Company issued a press release on March 31, 2026 (Exhibit 99.1) announcing the transaction.

Key Details

• Parties: Tamboran (Beetaloo) Pty Limited (subsidiary of Tamboran) and Daly Waters Energy, LP (DWE); the deal is made pursuant to DWE’s joint venture with INPEX Corporation.
• Acreage: ~10,000 acres across Shenandoah North, Shenandoah South and BCD Area.
• Financials: staged earn‑in up to ~US$28.5 million; includes structured off‑ramp provisions and a milestone carry right for Tamboran.
• Conditions: completion is contingent on Tamboran Limited acquiring a 98.1% interest in Falcon Oil & Gas Australia Ltd (FOGA) as part of a Plan of Arrangement with Falcon Oil & Gas Limited and is subject to conditions precedent in the DWE‑INPEX farm‑in and closing of the Falcon acquisition.
• Royalties: royalties on the net working interests farmed in will be FOGA royalties apportioned pro‑rata.

Why It Matters
This agreement brings an outside partner (DWE, within its JV with INPEX) to fund staged work on roughly 10,000 acres, providing up to ~$28.5M of potential earn‑in capital and a milestone carry that can reduce Tamboran’s near‑term capital burden. However, the transaction is not final — it depends on Tamboran completing its acquisition of FOGA (98.1% interest) and other conditions in the DWE‑INPEX farm‑in, so investors should treat the arrangement as conditional until those steps close. The deal also affects future project economics through the allocation of FOGA royalties to the farmed‑in interests.