Tamboran Resources Reports $10.6 Million Net Loss for Quarter, $27.2 Million for Nine Months

Tamboran Resources Corporation has reported its financial results for the three and nine months ended March 31, 2026, revealing a net loss of $10.6 million for the quarter and $27.2 million for the nine-month period. This represents an increase in losses compared to the previous year, where the company recorded a net loss of $8.2 million for the three months and $30.4 million for the nine months ended March 31, 2025. The company continues to operate without generating any revenue, as it remains in the exploration and appraisal stage of its natural gas projects.

The company's total assets increased significantly to $672.1 million as of March 31, 2026, up from $446.5 million at the end of the previous fiscal year. This growth was primarily driven by an increase in cash and cash equivalents, which rose to $88.2 million from $39.4 million, and unproved natural gas properties, which increased to $465 million from $342.3 million. The company’s accumulated deficit also widened to $191.5 million, reflecting ongoing operational losses since inception.

In terms of strategic developments, Tamboran is in the process of acquiring Falcon Oil & Gas Ltd, a move that is expected to enhance its operational capabilities and asset base. The acquisition is anticipated to close in the second quarter of 2026, subject to regulatory approvals and other conditions. Additionally, the company has made progress on its Sturt Plateau Compression Facility, which is currently 86% complete, and is expected to be connected to the Amadeus Gas Pipeline.

Operationally, Tamboran has focused on its drilling activities, with significant expenditures on exploration and evaluation totaling $79.7 million for the nine months ended March 31, 2026. The company has also seen an increase in its employee headcount, contributing to higher compensation and benefits expenses, which rose to $9 million for the nine-month period. The company is actively pursuing joint venture partnerships to further its development plans and has reported a working capital surplus of $45.2 million, bolstered by recent capital raises.

Looking ahead, Tamboran anticipates that it will not generate material revenue until late 2026, contingent upon successful drilling results and the completion of its ongoing projects. The company has outlined a need for approximately $30.2 million in investments to progress its development plans for the remainder of the fiscal year. While the recent capital raises have improved its liquidity position, Tamboran acknowledges the need for additional funding to support its long-term operational strategy.