v3.25.4
Subsequent Events
6 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events Note 14 – Subsequent Events
Appointment of Todd Abbott as Chief Executive Officer
On January 10, 2026, the Board appointed Mr. Todd Abbott as CEO, effective January 15, 2026. Mr. Abbott will
succeed Mr. Richard Stoneburner, who has been serving as interim CEO since July 28, 2025, following the resignation of
the then CEO,  Mr Riddle. Mr. Stoneburner will continue to serve as Chairman of the Board. Upon concluding his tenure as
interim CEO, Mr. Stoneburner will resume his status as an independent Board member.
Mr. Abbott has over 25 years’ upstream oil and gas experience spanning unconventional shale operations, business
planning, corporate finance and strategy. He was formerly the Chief Operating Officer (COO) at Appalachian Basin
(Marcellus and Utica shale) producer Seneca Resources Company, LLC.
Subscription Agreements
In October 2025, the Company announced entering into a subscription agreement (the “PIPE”) with certain investors,
including: Mr. Bryan Sheffield, Mr. Scott Sheffield and other directors and certain of our employees and officers (the
“PIPE Investors”). The PIPE entered into between the Company and the PIPE investors closed on January 16, 2026 upon
issuance of 1,524,337 shares of common stock for $21.00 per share by the Company. Total gross proceeds from this
issuance under the PIPE was $32.0 million and received in cash in January 2026.
Retention License Application Extension
In a letter signed by DWE on February 10, 2026, both Tamboran and DWE have agreed to extend the February 14,
2026, deadline to February 27, 2026 for the retention licenses to be applied for in the FSDAs. (Refer Note 2)
Long-term debt under Syndicated Facility
Through February 11, 2026, total drawdowns of $3.3 million, $0.7 million and $4.0 million were made from the
Syndicated Facility for Tranches 1A , 1B and 2, respectively.
The Group has evaluated its subsequent events occurring after December 31, 2025, through February 11, 2026,
which represents the date these condensed consolidated financial statements were available to be issued. No further
subsequent events have been identified that would require disclosure in these condensed consolidated financial statements.