Particle.news
Download on the App Store
3 ARTICLES
·
2w ago

Tamboran to Acquire Falcon in Beetaloo Merger, Expanding to 2.9 Million Acres

The share-and-cash deal positions Tamboran for a Phase 2 stake above 80%, with closing targeted for early 2026 pending required approvals.

Image

Overview

  • Under the definitive agreement, Tamboran will buy Falcon subsidiaries for 6.54 million shares plus $23.7 million in cash, leaving Falcon investors with roughly 27% of the combined company.
  • The transaction values Falcon’s subsidiaries at C$239 million (about $172 million), a premium to recent trading levels, with Tamboran shares to be distributed at 0.00687 per Falcon share.
  • The combined company would control about 2.9 million net acres in the Beetaloo and carry a pro forma market capitalization above $500 million.
  • Tamboran’s working interest in the Phase 2 Development Area would rise to 80.62% and align interests with Daly Waters Energy across EP 76, EP 98 and EP 117 ahead of a farmout led by RBC Capital Markets.
  • Both boards approved the deal, which still requires shareholder and regulatory clearances in Canada, Australia and under AIM rules, with Falcon set to delist from TSX Venture and AIM at closing; TBN jumped about 21% as FOLGF gained roughly 6% on the news.