Tamboran Resources Reports No Revenue and $30.5M Net Loss for Fiscal Year Ending June 30, 2026

Tamboran Resources Corporation, an independent natural gas exploration and production company, reported no revenue for the fiscal year ending June 30, 2026, as it continues to develop its operations in the Beetaloo Basin, Northern Territory, Australia. The company incurred a net loss of $30.5 million, a decrease from the $39.6 million loss reported in the previous fiscal year. This reduction in losses is attributed to a decrease in exploration expenses and a rise in interest income, which increased by $1.1 million to $2.7 million. The company’s total operating costs decreased to $32.7 million from $39.3 million, primarily due to lower exploration activity and the absence of significant one-time expenses that were recorded in the prior year.

In a significant strategic move, Tamboran completed the acquisition of approximately 98.1% of Falcon Oil & Gas Australia Limited in May 2026, which is expected to enhance its operational capabilities and resource base. The company has also made progress in its Shenandoah South Pilot Project, achieving first gas sales in September 2026, which marks a pivotal step towards commercialization. The commissioning of the Sturt Plateau Compression Facility was completed in July 2026, and the company anticipates ramping up gas sales to a plateau of 40 terajoules per day, contingent on well performance and final commissioning activities.

Operationally, Tamboran has drilled and completed several wells in the Beetaloo Basin, with ongoing drilling activities expected to continue into fiscal year 2027. The company holds approximately 2.8 million net prospective acres in the Beetaloo Basin, making it the largest acreage holder in the region. As of June 30, 2026, Tamboran employed 45 full-time and two part-time employees, reflecting its commitment to local hiring and community engagement. The company is also focused on sustainability, aiming to achieve net zero equity Scope 1 and 2 emissions upon the commencement of commercial production.

Looking ahead, Tamboran faces challenges related to securing additional pipeline capacity to deliver natural gas to both domestic and international markets. The company is evaluating options for expanding its infrastructure to meet anticipated demand, particularly in light of projected supply shortages in the Australian East Coast gas market. Tamboran's future financial performance will largely depend on its ability to successfully execute its development plans, manage operational costs, and navigate the regulatory landscape, which includes compliance with stringent environmental laws and regulations. The company has indicated that it does not expect to generate positive cash flow until at least 2028, which may impact its ability to pay dividends in the foreseeable future.