Have to wait for Thursday, but if they redomicile to US, could replicate TBN:
ASX ANNOUNCEMENT
Tamboran Resources Corporation (ASX: TBN)
13 December 2023
Tamboran Re-domiciliation: Scheme of Arrangement Implemented
Tamboran Resources Corporation (ASX: TBN) (the Company or Tamboran) is pleased to announce that the previously announced scheme of arrangement in relation to the re-domiciliation of the Tamboran Resources Limited and its subsidiaries (Tamboran Group) from Australia to the United States of America (the Scheme) has been fully implemented today.
In accordance with the Scheme, all ordinary shares in Tamboran Resources Limited have been transferred to the Company. The Company is now the only shareholder in Tamboran Resources Limited and is the ultimate parent company of Tamboran Group.
Tamboran Resources Limited has applied to be removed from the official list of ASX from close of trading on Thursday, 14 December 2023.
The consideration for the Scheme has today been issued to eligible shareholders of Tamboran Resources Limited in the form of CHESS Depository Interests in the Company, which commenced trading on a deferred settlement basis on ASX on Friday, 8 December 2023 and will continue to be traded on a normal settlement basis on the ASX from Thursday, 14 December 2023 (under the code TBN. Shareholders will continue to hold their quantity of shares in Tamboran Group as CDIs.
Holding statements (to issuer sponsored holders) and confirmations (to CHESS holders) will be dispatched to eligible shareholders of Tamboran Resources Limited on Thursday, 14 December 2023.
from 12/10:
Rationale for the Scheme
The Company’s Board of Directors believes that the Scheme will best position Tamboran Group for the next phase of its growth as Tamboran seeks to accelerate the commercialisation of the Beetaloo Sub- basin, including by:
• better positioning Tamboran Group in a deeper capital market in the United States where shale investors are more active. This is expected to allow existing Tamboran Shareholders to benefit from the anticipated growth and more clearly evaluate the performance and future prospects of Tamboran Group, whilst maintaining a listing on ASX;
• providing access to a broader US investor pool, which is more familiar with shale developments, than were previously unable or unlikely to invest in non-US securities. This may lead to a better reflection of valuation for Tamboran US HoldCo over time and improve liquidity in the trading of the Company’s
shares;
• improving access to lower-cost US debt and equity capital markets, which are larger and more diverse
than Australian capital markets. This could enable Tamboran to fund future growth at a lower cost and
with less dilution to existing shareholders; and
• simplifying Tamboran Group's corporate structure for potential future merger, sale or acquisition
transactions, which may increase Tamboran Group's attractiveness as a potential target to strategic and merger partners, sellers or acquirers.
all of which has led to experienced US frackers coming to a vicinity near BME soon…
15/12
Tamboran enters Strategic Partnership with Liberty Energy to deliver modern stimulation and completion equipment to the Beetaloo Basin
Highlights
• Tamboran has entered into a Strategic Partnership and received a US$10 million (A$15.2 million) equity investment from Liberty Energy Inc. (NYSE: LBRT) (Liberty), a leading North American energy services firm.
• Under the Strategic Partnership, Liberty plans to import a modern frac fleet into the Beetaloo Basin in 2024 to support the stimulation campaign with industry leading operational and subsurface engineering expertise for Tamboran’s proposed 40 million cubic feet per day (MMcf/d) Shenandoah South Pilot Project, which is planned to commence production in 2026.
• Once terms are finalised between the two parties, Liberty plans to deliver a dedicated frac fleet and crew into the Beetaloo Basin in 2024, which has the potential to reduce the delays experienced in mobilising equipment to site, thereby significantly increasing completion efficiencies and reducing the costs of future stimulation programs.
• Under the Strategic Partnership, Tamboran has agreed to work with Liberty to bring the latest sand mining and handling management solution to the Beetaloo Basin.
• In light of the Strategic Partnership, Tamboran, via its subsidiary Tamboran Infrastructure (TBI), has applied for 14 extractive mineral exploration licences in close proximity to the proposed Shenandoah South Pilot Project for the evaluation of and future extraction of frac sand.
• The Strategic Partnership with Liberty and mining of local sand are two initiatives that are expected to support material reductions in stimulation costs for future development programs.
