Developing low CO2 natural gas resources in the Beetaloo Sub-basin in the Northern Territory

Live Tamboran Resources Ltd ASX: TBN

OnMarket | Tamboran Resources Ltd | ASX: TBN

Fixed Priced IPOType of Offer
07 Jun 21Offer Open
18 Jun 21Pay By
$0.40Price
Up to $66 millionSize of Offer
$2,000 Minimum Investment
MST FInancialLead Manager

The Institutional Offer and Broker Firm Offer are fully underwritten up to approximately $48.6 million.

OnMarket has a limited allocation.

The offer may close early and the 'Pay By' dates may change. Duplicate bids under the same investment profile, investor name or residential address may be cancelled.

Key Highlights

Tamboran Resources is seeking to de-risk substantial prospective Australian natural gas resources that can supply affordable gas to meet predicted domestic gas shortfalls, and longer-term, provide back-fill gas to Australian LNG projects to help satisfy the material demand for natural gas from Asia.

1 Achievement of the Company’s vision of becoming a net zero emissions producer of gas is presently uncertain and depends on the Company being able to economically manage its carbon emissions, which could for example be impacted by availability of future revenues to fund various carbon initiatives, market pricing of carbon offsets, technological developments affecting operations and costs of implementing sustainable practices. Refer to section 5.2(c) of the Prospectus.

Introduction

Tamboran Resources Limited (ASX: TBN) intends to play a constructive role in the global energy transition towards a lower carbon future by developing clean, low CO2 unconventional natural gas resources in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia.

Subject to a successful seismic, drilling and testing program, Tamboran is well positioned to commercialise these resources. We are targeting to provide affordable gas to local Northern Territory markets and supply gas to the east coast of Australia, to meet forecast domestic gas shortfalls. A commercial framework has been agreed with Jemena, which provides for the construction of a pipeline connecting the Beetaloo Sub-basin directly to the South East Australian domestic gas market via Jemena’s existing northern gas pipeline or north to the Darwin LNG complex.

The Compnay believes that this arrangement will help facilitate the delivery of reliable, affordable gas to domestic markets.

Tamboran’s key focus is to de-risk the substantial resources identified within its highly prospective acreage in the Beetaloo Sub-basin. Tamboran’s assets include EP 136, EP 143, EP 161 and EP(A) 197. An independent reserves and resource certifier, has given a best estimate that the net prospective resources in EP 161 and EP 136 total approximately 31 Tcf.

The Beetaloo Sub-basin is an area of approximately 28,500 km2 that is considered to be highly prospective for unconventional gas. The Beetaloo Sub-basin is a structural component of the Greater McArthur Basin in the Northern Territory, located about 500 kilometres southeast of Darwin, Northern Territory and is recognised as a close analogue to some of the most productive unconventional gas basins in North America. 

Location of the Beetaloo Basin

 

Terms of the Offer

Tamboran Resources Limited is in the process of undertaking an IPO of new shares on ASX to raise between $60 million and $66 million via the issue of between 150 million to 165 million shares under the Offer at an offer price of $0.40.  The company may have an indicative market capitalisation of approximately $266 million (at maximum raise) on completion of the Offer. 

The offer is partially underwritten by the Lead Manager. The Institutional Offer and Broker Firm Offer are underwritten by the Lead Manager up to an amount of approximately $48.6 million.

Company Overview

Tamboran Resources Limited (ASX: TBN) intends to play a constructive role in the global energy transition towards a lower carbon future by developing low CO2 unconventional natural gas resources in the Beetaloo Sub-basin in the Northern Territory of Australia. Tamboran’s key assets are a 25% working interest in EP 161 and a 100% working interest in EP 136 which are located in the Beetaloo Sub-basin in the Northern Territory, Australia.

The company’s core strategic objectives are as follows:

Lead the commercialisation of the substantial prospective gas resources in the Beetaloo Sub-basin

Tamboran’s key focus is to de-risk the substantial resources identified within its highly prospective acreage in the Beetaloo Sub-basin. Tamboran’s assets include EP 136, EP 143, EP 161 and EP(A) 197. An independent reserves and resource certifier, has given a best estimate that the net prospective resources in EP 161 and EP 136 total approximately 31 Tcf.

There is support from both the Northern Territory and Australian Federal Governments for the development of the Beetaloo Sub-basin. In December 2020, the Federal Government announced $50 million in incentives for the industry to accelerate gas exploration and production in the Beetaloo Sub-basin.

Develop low CO2 unconventional natural gas resources and pursue its vision to seek to become a net zero emissions producer for its equity share of Scope 1 and Scope 2 emissions

Production tests of wells that have been drilled within and on trend with the Tamboran Assets in the Beetaloo Sub-basin indicate that the gas in the basin generally has a lower CO2 content than the industry average for gas fields currently in production or under development in the north-west of Australia.2

Tamboran is committed to minimising the carbon emissions related to the development of this resource further, by using advanced drilling technologies and exploring options to integrate renewable energy, carbon capture and sequestration and carbon offsets. The Company’s vision is to seek to become a producer of gas with net zero emissions for our equity share of Scope 1 and Scope 2 emissions.3

Leverage the Company’s expertise in unconventional gas development

The Company’s Board and management team have a strong track record of commercialising unconventional resources in the United States and Australia. Members of Tamboran led the initial development of multiple prolific US oil and gas unconventional resource plays, including in Eagle Ford, Marcellus, Woodford, Fayetteville and Haynesville, as well as the successful development and monetisation of Australian gas assets.

Operate sustainably, safely and adhere to best practices throughout operations

Tamboran believes that operating in a sustainable manner is essential to delivering the Company’s core strategy and objectives. Our core values, which underpin everything that we do and are central to our Code of Conduct, are leadership, sustainability, integrity, diversity and inclusion, courage and commitment.

2 - Based on flow tests for each of the Tanumbirin, Amungee and Kyalla wells in the Beetaloo Sub-basin compared against other similar Australia gas fields which include Barossa, Gorgon, Browse, Icthys, Prelude, Wheatstone, Bayu Undan, Janz and Scarborough.

3 - Scope 1 emissions occur from sources controlled by the Company, for example emissions from fuel, flare and vent; Scope 2 emissions are indirect, mainly electricity consumption. Achievement of the Company’s vision of becoming a net zero emissions producer of gas is presently uncertain and depends on the Company being able to economically manage its carbon emissions, which could for example be impacted by availability of future revenues to fund various carbon initiatives, market pricing of carbon offsets, technological developments affecting operations and costs of implementing sustainable practices. Refer to section 5.2(c) of the Prospectus.

The Assets

Tamboran holds unconventional gas resources in the highly prospective Beetaloo Sub-basin within the Greater McArthur basin and is strategically positioned to commercialise these resources as a potential supplier to address Australian forecast domestic energy needs. Tamboran’s key focus is to de-risk the substantial resources identified within its highly prospective acreage in the Beetaloo Sub-basin.

Currently, Tamboran holds interests in three exploration permits and one application all of which are located in the Beetaloo Sub-basin in the Northern Territory in Australia. It is strategically focused on the development of its portfolio being EP 136, EP 143, EP 161 and EP(A) 197 (the Tamboran Assets).

Netherland, Sewell & Associates, Inc., an independent reserves and resource certifier, has given a best estimate that the net prospective resources in EP 161 and EP 136 total approximately 31 Tcf, comprising:

  • approximately 12 Tcf net un-risked prospective resource (25% non-operating interest) in EP 161; and
  • approximately 19 Tcf net un-risked prospective resource (100% working interest) in EP 136.

Tamboran Exploration Permits

EP 161

EP 161 is a polygonal shaped tract that spans north-south with varying widths having a total area of approximately 10,500 km2. The prospect has key technical attributes that are comparable to successful US unconventional basins and is presumed to have potential unconventional gas resources.  The Santos QNT and Tamboran joint venture (EP 161 JV) plans to drill two exploratory wells on EP 161 in 2021. The Tanumbirini #2H natural gas exploration well commenced drilling operations on 11 May 2021. Tanumbirini #2H is a horizontal well that will be directionally drilled to approximately 4800 metres total depth (TD) targeting the Mid-Velkerri B shale. Tamboran expects drilling to complete in July 2021. The rig will then drill Tanumbirini #3H to a similar TD, prior to hydraulically fracture-stimulating both wells. This will comprise 10-20 stages in the horizontal sections of each well, followed by completion and expected 180-day flow tests

Following the drilling program in 2022, the joint venture will evaluate the status of the wells and well tests and, subject to the results, will initiate plans for commercialisation of the license’s gas resources.

EP 136

The Company’s work plans include extensive 2-D seismic work principally on the northern part of EP 136 followed by an initial exploratory horizontal well and a flow-test in 2022. The Company is targeting to drill three additional wells in 2023 and, if successful, sanction the construction of an EP 136 pilot plant. Tamboran presently intends to work with Jemena on an infrastructure solution that provides a commercial pathway to supply the domestic gas market in Australia.

Independent reserves and resources certifier, NSAI, has provided estimates for the un-risked prospective resources in EP 136. NSAI’s best estimate for prospective resources net to Tamboran (100% participating interest) are approximately 19 Tcf

EP 143

The Company’s initial focus and capital spend regarding the Sweetpea Assets will be on EP 136. The Company’s plans for EP 143 consist of maintenance of the permit for future assessment. The Company will assess prospectivity of EP 143 to determine future development opportunities.

EP197

The Company’s initial focus and capital spend regarding the Sweetpea Assets will be on EP 136. The Company’s plans for EP(A) 197 consist of completing acquisition of the license and maintenance of the permit for future assessment.

 

Commercialisation

An early key focus of management is therefore to ensure a path to commercialisation.  

In June 2020, a commercial framework was agreed with Jemena to build, own, and operate long term midstream gas infrastructure. The arrangement with Jemena provides for construction of an initial pipeline directly connecting the Beetaloo Sub-basin to the south-eastern Australian domestic gas market via Jemena’s existing Northern Gas Pipeline or north to the Darwin LNG complex.

The Company’s commercialisation goals from 2023 to 2025 will be focused on ramping up production through increased drilling that would provide for sustained commercial volumes into existing and planned pipeline infrastructure, such as the Jemena system. 

Commercialisation Plan

As set out in the diagram above, stage one consists of gas sales from production testing of horizontal wells drilled in 2023 and 2024 to the Northern Territory gas market. Stage two focuses on the proposed joint venture with Jemena, targeting gas sales from a Beetaloo Sub-basin pilot development to other domestic markets by 2025. Stage 3 focuses on full field development of EP 161 and/or EP 136 targeting potential LNG backfill markets in Darwin or Gladstone in 2028 and beyond.

The Australian Gas Industry

Tamboran operates in the unconventional gas industry with a focus on developing the unconventional prospective gas resources in the Northern Territory. The Company believes that there is a considerable opportunity for Tamboran to take a leadership role in developing gas resources that will supply the gas market in Australia.

Natural gas is Australia’s third largest energy resource after coal and uranium. Reserves are classified according to their technical and commercial prospects of recovery.

LNG export

Growing global demand for energy, led mainly by Far East demand over the past decade, has driven a strong increase in gas demand and particularly LNG due to its suitability for long-distance transportation. Australia is advantaged geographically and has been able to position itself technically and commercially to meet this demand, emerging as a global leader in LNG.

The following chart reflects imports and exports by commodity type

From 2018 to 2019 natural gas accounted for approximately 26% of Australia’s domestic energy consumption. During that same period, gas consumption increased by approximately 2%.

Domestic consumption

From 2018 to 2019 natural gas accounted for approximately 26% of Australia’s domestic energy consumption. During that same period, gas consumption increased by approximately 2%.

Gas is also an important energy source for manufacturing, accounting for 41% of manufacturing energy use in 2018 to 2019. The manufacturing and mining (including LNG) sectors each accounted for just under one-quarter of total gas consumption in 2018 to 2019.

Market opportunity

According to the Australian Energy Market Operator (AEMO), over the past ten years, Australia’s east coast gas demand has significantly increased due to the commissioning of certain LNG plants in Queensland.

However, Australia’s domestic gas demand has remained flat, with the only material variation being the consumption of gas in National Electricity Market gas-fired generation which is heavily affected by both gas price and electricity conditions.

Despite the lack of domestic demand growth, natural gas prices have remained high in Australia relative to other OECD countries. This indicates a lack of supply to meet locational demand. This situation may be made worse by the foreseen potential for increases in gas-powered electricity generation (GPG). As a result, other sources of energy have begun to meet some of the domestic demand including renewables, primarily solar.

These market fundamentals indicate a shortage of identifiable natural gas available to fully utilise existing LNG capacity and to meet projected domestic energy needs. This situation is most acute in the eastern part of Australia.

Tamboran’s assets in combination with an infrastructure solution to evacuate the gas from the Beetaloo Sub-basin positions the Company for gas deliveries to the LNG facilities in Darwin as well as to the domestic and export markets on the east coast of Australia.

Management and Board

A key differentiator for Tamboran is the expertise of the Board and the Company’s management team, which has a track record of commercialising unconventional resources in the United States. They led the initial development of multiple prolific US gas unconventional resource plays, including the Eagle Ford, Marcellus, Woodford, Fayetteville and Haynesville coupled with Australian domestic experience in the successful development and monetisation of Australian unconventional resources. These include:

Mr Richard Stoneburner (Independent Non-executive Chairman)

Mr Stoneburner has over 35 years’ experience in petroleum geology. He is a former co-founder, President and Chief Operating Officer of Petrohawk Energy Corporation and President of North America Unconventional Production Division for BHP Billiton Petroleum. Prior to co-founding Petrohawk, Mr Stoneburner was Vice President, Exploration, for 3Tec Energy Corporation and worked for several E&P companies, including Hugoton Energy Corporation, W/E Energy Company, Stoneburner Exploration Inc and Texas Oil & Gas.

Mr Joel Riddle (Managing Director & CEO)

Mr Riddle has more than 25 years’ experience in the upstream oil and gas industry and was previously with Cobalt International Energy, where he worked closely with executive management in the initial evaluation and implementation of the exploration growth strategy in the Gulf of Mexico and West Africa, playing an instrumental role in Cobalt’s $1 billion initial public offering in 2009 and subsequent capital raising efforts in 2010 and 2011.

Mr Fred Barrett (Independent Non-executive Director)

Mr Barrett is an oil and gas professional and entrepreneur who recently retired from Bill Barrett Corporation, an exploration and production company he helped found in 2002 and which is listed on the New York Stock Exchange. Mr Barrett spent 12 years at Bill Barrett Corporation where he was instrumental in its growth into a 300+ employee organization and its successful float on the NYSE. Mr Barrett has extensive technical and geological expertise in unconventional resources and a deep commercial understanding of the unconventional gas industry.

Mr Daniel Chandra (Non Independent Non-executive director)

Mr Chandra is currently a senior investment professional at Lion Point Capital, a value-focused investment fund based in New York City. He has over twenty years of investing experience across a range of industries and in equity, credit, and distressed debt. Mr Chandra previously worked as a senior analyst and portfolio manager at DW Partners and at DW’s predecessor Brevan Howard.

Ms Ann Diamant (Independent Non-executive director)

Ms Diamant has more than 35 years’ experience in the oil and gas and investment banking industries. She joined ASX listed Oil Search Limited in 2003 and was responsible for developing and implementing Oil Search Limited’s highly regarded investor relations strategy.

Mr Patrick Elliott (Non-Independent Non-executive Director)

Mr Elliott established Tamboran in 2009 and is a Non-Executive Director. He is formerly a co-founder and Director of ASX listed Eastern Star Gas Limited and SAPEX Limited, both successful gas exploration ventures in Australia. He is also Chairman of ASX listed Argonaut Resources NL and Cap-XX Limited.

Mr David Siegel (Non Independent Non-executive director)

Mr Siegel has 25 years’ experience as a CEO and substantial experience in private equity and managing public companies. Mr Siegel is the chairman of and is a substantial holder in Longview and is therefore an associate of Longview.

Eric Dyer(Chief Financial Officer)

Mr Dyer has over 20 years of experience in finance in the energy, infrastructure and sustainability sectors. Mr Dyer served as Head of Energy at EAS Advisors for 10 years. Prior to EAS Advisors, he served in various investment banking and capital markets roles with firms like Atlantic-Pacific Capital, Execution LLC and IHS Markit.

Faron Thibodeaux (Chief Operating Officer)

Mr Thibodeaux has 39 years technical and operations experience in the energy industry. Mr Thibodeaux previously held the position of Vice President of Drilling, Completions and Engineering of Apache Corporation.

Joanna Morbey (Company Secretary)

Mrs Morbey is a member of the Institute of Chartered Accountants Australia and New Zealand has over 30 years’ experience in accounting and company secretarial duties in the investment banking, property development and mineral exploration industries.

Key Offer Statistics

Use of Funds

Funds raised from the Offer will be applied as follows:

For further information on the Key Offer Statistics and Use of Funds, please see the prospectus.

Risks

You are encouraged to read the Prospectus carefully as it contains detailed information about the Company and the Offer. Like all investments, an investment in the Company carries risk. As set out in Section 5 of the Prospectus, Tamboran Resources Limited is subject to a range of risks, including but not limited to exploration risks, speculative business, failure to achieve growth strategy and net zero risk, operational risk, reserves and resources estimates, land access, access to infrastructure, development and permit risk, land title and environmental risk, gas prices, regulatory and policy risks and general economic risks.

A non-exhaustive list summarising the key risk factors affecting the Company is set out below. Investors should refer to the more comprehensive list of risks in the Prospectus. Where relevant, the risks below assume completion of the Offer has occurred. The occurrence of any one of the risks below could adversely impact the Company’s operating or financial performance.

Exploration Risk

Gas development is speculative and involves elements of significant risk with no guarantee of success. There is no assurance that expenditure on activities will result in gas discoveries that can be commercially or economically exploited.

Key to Tamboran’s financial performance is to have success in exploring for and locating commercially exploitable hydrocarbons. Exploration is subject to technical risks and uncertainty of outcome. Tamboran may not find any or may find insufficient hydrocarbon reserves and resources to commercialise, which would adversely impact the financial performance of Tamboran.

There is the risk that drilling will result in equipment failure, dry holes or not result in the discovery of commercially exploitable hydrocarbons. Wells may not be productive, or they may not provide sufficient revenues to return a profit after accounting for associated costs. The cost of drilling, completing, equipping and operating wells is subject to uncertainties.

Company’s business remains speculative

While the Directors will, to the best of their knowledge, experience and ability (together with senior management) endeavour to anticipate, identify and manage the risks inherent in the activities of the Company, with the aim of eliminating, avoiding and mitigating the impact of risks on the performance of the Company and its business operations, the ability of the Directors and management to do so may be affected by matters outside their control, given the nature of gas exploration and no assurance can be given that the Directors and management of the Company will be successful in these endeavours.

Growth strategy and net zero emissions risk 

There is a risk that the Company may fail to execute its proposed growth strategy, which includes:

  • de-risking the prospective resources identified within its highly prospective acreage in the Beetaloo Sub-basin including the Tamboran Assets;
  • working with infrastructure partners such as Jemena to bring resources to market to meet anticipated domestic gas shortfalls and commercialising those resources; and
  • adopting sustainable practices including a vision of achieving net zero emissions.

Failure to achieve growth strategies could be caused by legal, regulatory and policy developments, failure to discover and commercially extract resources or other risks which are identified in section 5 of the Prospectus.

In particular, achievement of the Company’s vision of becoming a net zero emissions producer of gas will depend on the Company being able to economically manage its carbon emissions, which could for example be impacted by availability of future revenues to fund various carbon initiatives, market pricing of carbon offsets, technological developments affecting operations and costs of implementing sustainable practices. In the event of a failure to execute its growth strategy either in part or as a whole, the Company’s business and growth prospectus may be adversely impacted.

Operational Risk

Gas exploration and development activities include numerous operational risks, including but not limited to, adverse weather conditions, environmental hazards, unforeseen increases in establishment costs, accidents (including, for example, fires, explosions, uncontrolled releases, spills and blowouts), equipment failure, industrial disputes, technical issues, supply chain failure, labour issues and other unexpected events. Drilling operations, in particular, carry inherent risk associated with, for example, unexpected geological conditions, mechanical failures or human error. 

The occurrence of an operational risk event could also result in damage to, or destruction of, production facilities, personal injury, environmental damage, increase operational costs and significantly disrupt the Company’s operations, possibly restricting the Company’s ability to advance its exploration programs.

Reserves and Resources Estimate Risk

Estimating hydrocarbon reserves and resources is subject to significant uncertainties associated with technical data and interpretation of that data, future commodity process and development and operating costs. There can be no guarantee that the Company will successfully produce the volume of hydrocarbon that it estimates are reserves or that hydrocarbon resources will be successfully converted to reserves. Estimates may alter significantly or become more uncertain when new information becomes available due to, for example, additional drilling or production test over the life of the field. As estimates change, development and production plans may also vary. Downward revision of reserves and resources estimates may adversely affect the Company’s operational and financial performance.

Land Access Risk

Immediate access to the licences in which the Company has an interest, cannot in all cases, be guaranteed. The Company may be required to seek the consent of landholders or other persons or groups with an interest in the real property encompassed by the licences. Compensation may be required to be paid by the Company to landholders to allow the Company to carry out activities. The Company intends to commence mediation with certain land access holders in regards to land access arrangements for EP 136. Although the Company has budgeted compensation payments, there is no guarantee that additional amounts may not be required. Judicial decisions and legislation could also unforeseeably restrict land access.

Access to infrastructure risk

Tamboran will require access to infrastructure to sell the reserves it produces. There is no guarantee that Tamboran will be able to gain access to appropriate infrastructure on commercially viable terms. Failure to obtain access to infrastructure would adversely impact Tamboran’s financial performance. 

Development Risk

In the event that Tamboran is successful in locating commercial quantities of hydrocarbon through exploration, or acquisition of a development project, then that development could be delayed or unsuccessful for a number of reasons including extreme weather, unanticipated operational occurrences, failure to obtain necessary approvals, insufficient funds, a drop in commodity price, supply chain failure, unavailability of appropriate labour, or an increase in costs. If one or more of these occurrences has a material impact, then Tamboran’s operational and financial performance may be negatively affected.

COVID-19 Impact Risk

The global economic outlook is facing uncertainty due to the current COVID-19 pandemic, which has been having, and is likely to continue to have, a significant impact on global capital markets, the gas price and foreign exchange rates.

While to date COVID-19 has not had any material impact on the Company’s operations, should any Company personnel or contractors be infected, it could result in the Company’s operations being suspended or otherwise disrupted for an unknown period of time, which may have an adverse impact on the Company’s operations as well as an adverse impact on the financial condition of the Company.

Supply chain disruptions resulting from the COVID-19 pandemic and measures implemented by governmental authorities around the world to limit the transmission of the virus (such as travel bans and quarantining) may, in addition to the general level of economic uncertainty caused by the COVID-19 pandemic, also adversely impact the Company’s operations, financial position and prospects.

Permit Risk

The Company is required to comply with a range of laws to retain its Permits and periodically renew them. Each Permit also has its own specific exploration and expenditure requirements that the Company must satisfy. Even if specific requirements are met, there is no certainty that an application for grant or renewal of a permit will be approved at all, or on satisfactory terms or within expected timeframes.

The laws relating to permits are complex and subject to changes in interpretation.  Non-compliance with them could lead to the revocation of the Company’s Permits and the Company cannot guarantee current Permits will be renewed or future permits will be granted.

Policy Risk

The Company’s business is affected by government policy, which in turn may be influenced by international policies and laws. While the Company considers that Federal Government’s current policy is supportive of the development of Australia’s natural gas resources, there is no guarantee that this stance will not change in the future. In particular, there is a risk that the Federal Government could shift its domestic or international policy.

International policy developments have the potential to have an indirect impact on the Company’s operations, given that domestic policy makers might have regard to those developments in helping to formulate and in setting the direction of local policy. For example, the International Energy Agency recently released a report in relation to its recommendations for a pathway to achieve global net zero emissions by 2050, which includes a key recommendation of the report, that no new oil and gas projects should be developed. It is unknown what impact the report might have, if any, on domestic policy development for natural gas.  A shift in energy policy announced and adopted by the Northern Territory Government in relation to natural gas or the development of the Beetaloo Basin would pose a similar risk. The Northern Territory Government had previously imposed a moratorium on the operations in the Beetaloo Sub-basin, which ended in 2018 following a scientific inquiry and certain recommendations.

Gas Prices Risk

The price at which Tamboran can sell its produced gas will have a material influence on the financial performance of the Company. It is impossible to predict future commodity prices with confidence and the factors which impact it include, but are not limited to, global political institutions, military conflicts, technological changes, output controls and global energy consumption which are all outside the control of Tamboran. A material and extended fall in realised gas prices for Tamboran may have an adverse impact of the Company’s financial performance.

 

Section 734(6) disclosure: The issuer of the securities is Tamboran Resources Limited ACN 135 299 062. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).

OnMarket has a limited allocation. The offer may close early and the 'Pay By' dates may change. Duplicate bids under the same investment profile, investor name or residential address may be cancelled.

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Developing low CO2 natural gas resources in the Beetaloo Sub-basin of the Northern Territory

 

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Tamboran Resources Ltd (ASX: TBN) is a public company that intends to play a constructive role in the global energy transition towards a lower carbon future by developing low CO2 unconventional natural gas resources in the Beetaloo Sub-basin in the Northern Territory of Australia. 

 

With interests in three exploration permits, including a JV with Santos at EP161, Tamboran has estimated net prospective resources of 31 Tcf. Their aim is to provide affordable gas to local Northern Territory markets and supply gas to the east coast of Australia to meet forecast domestic gas shortfalls.

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GigSuper is addressing the $150b gap in the market for super for the self-employed. Self-employed Australians don’t have the luxury of an employer making super contributions for them, and often struggle with retirement. GigSuper’s answer to this is an easy to use platform that automates voluntary super contributions for its members.

 

Unlike Big Super, GigSuper attracts younger members, with a lifetime of saving ahead of them – more money coming in than going out.

 

Before investing please consider the offer document and the general risk warning.

Equity Crowdfunding Upcoming

ReNutrients Pty Ltd

ReNutrients Pty Ltd
Cleantech meets Agtech. Revolutionary technology. Returning Nutrients to Nature

More Info

Did you know that:

 

  • Alkaline batteries contain vital trace elements needed for healthy crops? 
  • In Australia 96% of used batteries end up in landfill?

 

Renutrients takes used batteries and makes plant stimulating micronutrient fertilizer – solving a problem, with a commercial mindset.

 

Working with ground-breaking Finnish Cleantech, Tracegrow Oy, Renutrients will be raising funds soon to build a plant in Australia - bringing this proven, high-performing fertilizer to capture a fair share of the $180M market.

 

Before investing please consider the offer document and the general risk warning.

IPO OnMarket bidding closed

Polymetals Resources Ltd ASX: POL

Polymetals Resources Ltd
Gold explorer with two strategically located exploration licences and significant geological potential

 

Polymetals Resources Ltd (ASX: POL) owns two exploration licences within the Siguiri Basin in Guinea, West Africa. The Siguiri Basin occupies the north-eastern corner of Guinea and hosts several large active gold mining operations and is notable for its widespread gold anomalism. The region is considered prospective and relatively immature from an exploration perspective and produces over 500,000 oz of gold/year. The nearby AngloGold Ashanti Siguiri Gold Mine, has produced more than six (6) million ounces over its 20-year life.

 

The licence area is host to many historic and current small scale gold mining operations. The results of inititial soil sampling confirmed that 18 km2 or 16% of the area surveyed reported gold values in excess of 40ppb Au. 

$0.20Price
$5 millionSize of Offer
06 May 21Offer Open
11 Jun 21Pay By