v3.26.3
Property, Plant and Equipment & Natural Gas Properties
 12 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property, Plant and Equipment & Natural Gas Properties
Note 5 – Property, Plant and Equipment & Natural Gas Properties
Natural Gas Properties
The Group held the following unproved natural gas properties as of June 30, 2026 and 2025 amounting to $807.0 million and $342.3 million, respectively. These amounts reflect the Group’s exploration and evaluation projects, which are pending the determination of proven and probable reserves and were not being depleted for the years ended June 30, 2026 and 2025, respectively. These assets will be reclassified to proven gas properties when they are determined to be productive or are assigned proved reserves. Upon this reclassification, the asset will be depleted upon commencement of production.
During the years ended June 30, 2026 and 2025, the Group recognized no impairment related to unproved natural gas properties.
Natural gas properties
(in thousands)EP 161EP 136EP 76, 98 & 117Mako TroughTotal
Balance as of July 1, 2024$23,744 $51,035 $155,340 $— $230,119 
Capital expenditure
1,181 315 101,441 — 102,937 
Restoration assets— — 524 — 524 
Interest on finance lease liability and related depreciation of ROU assets capitalized— — 12,633 — 12,633 
Government grant
— (6,169)— — (6,169)
Effect of changes in foreign exchange rates
166 302 1,802 — 2,270 
Balance as of June 30, 202525,091 45,483 271,740 — 342,314 
Additions through asset acquisitions— — 285,435 1,614 287,049 
Capital expenditure
3,557 181 145,553 — 149,291 
Restoration assets— — 136 — 136 
Interest on finance lease liability and related depreciation of ROU assets capitalized
— — 11,953 — 11,953 
Disposal— (444)— — (444)
Government grant(66)(54)— — (120)
Effect of changes in foreign exchange rates
1,120 2,258 13,479 — 16,857 
Balance as of June 30, 2026$29,702 $47,424 $728,296 $1,614 $807,036 

Assets Under Construction
In April 2024, the Group began to execute agreements for the SPCF in the Beetaloo Basin which would deliver a plant that would convert future raw gas to sales gas quality, subject to the terms of definitive development agreements. As of June 30, 2026, construction of the facility is 90% complete with total project completion of 93%. The Group held total assets under construction related to the SPCF as of June 30, 2026 and June 30, 2025 of $72.3 million and $24.4 million, respectively. These costs of construction include $6.2 million of capitalized borrowing costs for the year ended June 30, 2026. Refer to Note 8 for additional discussion.
The SPCF, with capacity of approximately 50 TJ/d and contracted volumes of 40 TJ/d (approximately 41 MMcf/d) SPCF is expected to be connected to the Amadeus Gas Pipeline (“AGP”) via the construction of the 37-kilometer (23-mile) Sturt Plateau Pipeline (“SPP”) subject to achieving project milestones. In September 2026, Tamboran commenced the commissioning of SPCF with initial gas sales from the Group's Shenandoah South 2 pad.

Property, Plant and Equipment

The following table summarizes the carrying amounts of held property, plant and equipment, including leasehold improvements, as of June 30, 2026 and 2025 (in thousands):
June 30,
20262025
Leasehold improvements - at cost
$560 $535 
Sand mining permits736 293 
Total property, plant and equipment1,296 828 
Less: Accumulated depreciation
(552)(520)
Total plant and equipment - net
$744 $308 
Depreciation expense for property plant and equipment for the years ended June 30, 2026, and 2025 was less than $0.1 million and $0.1 million, respectively.