Latham & Watkins Advises Tamboran Resources in Offerings of Common Stock and CDIs Totaling Approximately US$197.5 Million

Tamboran Resources, the first pre-revenue exploration and production company to qualify for WKSI status, announced the pricing of an underwritten public offering of 2,956,602 shares of common stock at a price to the public of US$35 (the underwritten offering). The underwriters exercised in full their option to purchase an additional 443,491 shares of common stock. The gross proceeds from the underwritten offering will be US$118.2 million.

Concurrently, Tamboran Resources commenced a first-of-its-kind registered direct institutional entitlement offer of up to 2,266,729 shares of common stock at a price of US$35, pursuant to an effective registration statement filed with the Securities and Exchange Commission to qualified institutional buyers within the meaning of Rule 144A under the Securities Act of 1933, as amended (the Securities Act) or institutions that are accredited investors within the meaning of Rule 501 under the Securities Act. Tamboran also conducted a simultaneous placement of CHESS Depositary Interests (CDIs) to non-US persons in compliance with Regulation S of the Securities Act, with each CDI representing 1/200th of one share of common stock (the CDI placement). The gross proceeds from the registered direct institutional entitlement offering of common stock and the CDI placement are expected to be US$79.3 million, before offering expenses.

Latham & Watkins represented Tamboran Resources in the offerings with a corporate team led by Austin partner David Miller, with associates Connor Adams, Carol Bale, Cooper Shear, Riann Winget, and Andrea Lee. Advice was also provided on securities laws matters by Washington, D.C. partners Alex Cohen, Joel Trotter, Michele Anderson, and Paul Dudek; on tax matters by Houston partners Tim Fenn and Jared Grimley, with associate Molly Elkins; and on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associate Jacqueline Zhang.