Squire Patton Boggs Advises Tamboran Resources Ltd on AU 35 Million Private Placement to Renowned Texan Businessman Bryan Sheffield and Existing Institutional Investors Following Its Successful IPO and ASX Debut

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    Squire Patton Boggs has advised Tamboran Resources Ltd on its AU$35 million private placement to renowned Texan businessman Mr. Bryan Sheffield and other existing institutional investors.

    Tamboran is a natural gas explorer that holds premium acreage in the highly prospective Beetaloo/McArthur Basins in the Northern Territory of Australia and focusses on the development of low CO2 unconventional gas resources. The placement funds will assist Tamboran to accelerate the commercialisation of its exploration projects in the Beetaloo Sub-Basin. It brings the total amount raised by Tamboran to AU$114 million over the last 12 months.

    Mr. Sheffield contributed AU$20 million of the $35 million raised. He has significant investment experience in the US unconventional energy sector and previously served as the Chairman, CEO and founder of Parsley Energy Inc., a major independent unconventional oil and gas producer in the Permian Basin that was acquired by Pioneer Natural Resources Company in January 2021 for US$7.3 billion. His AU$20 million investment in Tamboran signifies a vote of confidence in the company’s bid to source low-carbon dioxide gas from the Northern Territory Beetaloo Sub-Basin.

    The placement follows several other significant achievements for the company over the last 12 months including:

    • An AU$23 million pre-IPO raise to US and European institutional investors.
    • A highly strategic acquisition of fellow explorer Sweetpea Petroleum, which catapulted Tamboran to operator status and delivered its 100% interest in major Beetaloo gas assets.
    • A successful AU$61 million IPO and ASX debut with a market capitalisation of approximately AU$260 million, the largest IPO for a gas explorer in Australia in nearly a decade.

    A team led by Sydney-based Corporate partner Ashley Rose advised Tamboran on all aspects of these transactions. He was supported by partners Masi Zaki and Natalie Lonergan and associates Sophie Davey, Graham Johnson and Kate Spratt.

    Ashley Rose said: “We are all thrilled to have assisted Tamboran with its successful IPO and ASX listing, the acquisition of Sweetpea and follow-on capital raise. These transactions are transformative for Tamboran and we are proud to be associated with such a dynamic energy company. We look forward to following Tamboran’s journey as a listed company on the ASX.”

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