.Tamboran_TBN will raise up to A$195million to fund the Beetaloo Basin buy from originenergy capital funding finance resources energy Australia investment
PERTH – ASX-listed Tamboran Resources has announced a capital raise of up to A$195-million to fund the A$60-million acquisition of fellow-listed Origin Energy’s Beetaloo basin permits.
The acquisition will be funded through an institutional placement to new and existing shareholders, aimed at raising up to A$138-million. Some 657.2-million new shares would be issued at a price of 21c each, including a A$98-million private placement to strategic partners and US cornerstone investors, including a A$30-million equity investment by Sheffield and a A$22-million investment by US drilling solutions provider Helmerich & Payne.
In addition to the share placement, Tamboran will also undertake a share purchase plan, priced at 21c a share, to raise an additional A$3-million.