Falcon secures approval to sell 98.1% of Falcon Australia to Tamboran

Falcon Oil & Gas has received shareholder support to merchantability its 98.1% involvement successful Falcon Oil & Gas Australia (Falcon Australia) to Tamboran Resources.

The support was secured astatine a wide gathering held by Falcon Australia successful December 2025. It marks a cardinal measurement towards the planned consolidation of acreage successful Australia’s Beetaloo Basin by Tamboran Resources and Falcon Oil & Gas.

Falcon Oil & Gas and its affiliates were not permitted to ballot connected the resolutions concerning the transaction.

In September 2025, Tamboran Resources entered into a woody to get each of Falcon Oil & Gas’ subsidiary companies, taxable to assorted regulatory and shareholder approvals.

The woody aims to make 1 of the largest acreage positions successful the Beetaloo Basin, covering astir 2.9 cardinal nett prospective acres.

Under the presumption of the deal, Tamboran Resources volition supply information of 6.53 cardinal of the company’s shares connected the New York Stock Exchange (NYSE), positive $23.7m (A$35.53m) successful cash.

The statement values Falcon Oil & Gas’ subsidiaries astatine C$239m ($172m). This implies an connection terms of C$0.2154 per Falcon Oil & Gas share.

Closing of the woody is contingent connected shareholder approval, which has present been obtained for the Falcon Australia interest.

Following its acquisition of a 98.1% involvement successful Falcon Australia, Tamboran Resources volition beryllium entitled to compulsorily acquisition the remaining shares held by number shareholders.

Tamboran Resources has besides committed to transportation retired this compulsory acquisition astatine a terms astatine slightest adjacent to the magnitude paid to Falcon Oil & Gas for its stake.

Falcon Oil & Gas CEO Philip O’Quigley said: “While the broader transaction is inactive taxable to regulatory and shareholder approvals, this support by Falcon Australia shareholders eliminates 1 of the cardinal conditions precedent allowing Tamboran radical to proceed with the broader transaction, which is inactive connected way to adjacent successful the archetypal 4th of this year”.

In February, Falcon Oil & Gas completed the Shenandoah SS-2H ST1 good stimulation successful the Beetaloo Sub-basin, Northern Territory, Australia.

"Falcon secures support to merchantability 98.1% of Falcon Australia to Tamboran" was primitively created and published by Offshore Technology, a GlobalData owned brand.

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