v3.25.2
Business and Basis of Preparation
12 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Business and Basis of Preparation
Note 1 – Business and Basis of Preparation
General
Tamboran Resources Corporation (the “Company” or “Tamboran” and together with its consolidated subsidiaries, the “Group”) is an early-stage growth-oriented natural gas company with a vision of supporting the net zero CO2 energy transition in Australia and Asia-Pacific through developing low CO2 unconventional gas resources in the Northern Territory (“NT”) of Australia. The Group is in the exploration and appraisal stage with current focus on exploiting its primary assets, which are rights to working interests (“Tenements”) in exploration acreage in the Beetaloo sub-basin (“Beetaloo” or “Beetaloo Basin”), NT Australia. To date, the Group has not determined whether the Tenements contain any natural gas reserves that are economically recoverable. Further, the Group has no revenues from its gas operations as of June 30, 2025.
The Company completed its Initial Public Offering (IPO) of common stock and began trading on the New York Stock Exchange (NYSE) on June 28, 2024, under the symbol TBN. Tamboran continues to maintain the Australian Securities Exchange (ASX) listing of its CHESS Depository Interests (CDIs), with each CDI representing 1/200th of a share of common stock.

Going Concern and Management’s Liquidity Plans
The accompanying consolidated financial statements have been prepared on the basis that the Group will continue as a going concern which contemplates the realization of assets and the satisfaction of liabilities in the ordinary and usual course of business.
As of June 30, 2025, the Group had:

not generated revenues since inception, and will not generate earnings in the next 12 months sufficient to satisfy all liabilities in the ordinary and usual course of business;
a working capital surplus of $20,091,470 arising from proceeds of the Common Stock issuance in May 2025 (Refer Note 9);
an accumulated deficit of $167,281,183 since inception; and
significant expenditures planned for the unproved properties in the next 12 months.
These factors raise substantial doubt regarding the Group’s ability to continue as a going concern for the 12 months following the date these consolidated financial statements were available for issuance. The continuation of the Group as a going concern is dependent upon the ability of the Group to obtain necessary additional capital to fund ongoing exploration, appraisal and development projects and/or obtain oil and gas producing properties to attain future profitable operations. No assurance can be given that the Group will be successful in these efforts in the future.
Management has several plans in various stages of progress to source additional funding to provide operating capital for continued growth of the Group. As a result, these consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Group be unable to continue as a going concern.