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Tamboran Resources secures strategic US investor Bryan Sheffield in $35 million raise

Published: 11:52 24 Nov 2021 AEDT

Tamboran Resources Ltd (ASX:TBN)'s Joel Riddle speaks with Proactive soon after announcing a $35 million placement - anchored by a $20 million investment from Bryan Sheffield. Funds will be used to accelerate the commercialisation of EP 136, one of its low-CO2 unconventional natural gas interests in the Beetaloo Sub-basin in the Northern Territory. Sheffield was the founder of Parsley Energy, a major independent unconventional oil & gas producer in Texas, which was sold earlier this year for US$7.3 billion.

Tamboran Resources' Beetaloo Basin drilling going ‘incredibly well’

Tamboran Resources Ltd (ASX:TBN, OTC:TBNRF) CEO Joel Riddle tells Proactive the Shenandoah South 1H (SS1H) well at the Beetaloo Sub-Basin in the Northern Territory has intersected 90-metres of high-quality Mid Velkerri B Shale with strong dry gas shows. It represents the thickest section of Mid...

on 31/8/23