I agree Rvmulvog, its good to see some of the Beetaloo juniors...

I agree Rvmulvog, its good to see some of the Beetaloo juniors starting to make waves. Its positive for the whole basin. I even see Empire have down ok over the last couple days.

And totally agree that junor oil and gas companies have struggled (and probably will continue to struggle) against the climate change head winds. But the good ones with near term cash flows and low cost gas with proximity to market will still be good investments.
In my opinion the The Beetaloo is still many years away from this, but hopefully one day will get there.

The reason I don't hold Tamboran yet (though that may change someday if the price slides far enough down) is exactly what you have pointed out above. That they were only able to raise $61 million which is significantly less than what Tamboran wanted to initially raise to avoid further capital raises (An initial target of $195 million AUD cut to $100 million cut to $80 million, and then finally only able to raise $60 million).
Indeed after only getting $60 million AUD from IPO they tried a SPP of $6 million AUD, but only got $1 million AUD.

In my personal opinion the issue going forward with Tamboran will be raising capital over many many years before cash flows from production (if the basin works commercially).
The question in my mind is how much can they raise very quickly after the expected surge on the coat-tails of the Tanumbirini wells, and how big of a discount they will need to give to sophisticated investors to raise that capital......


DYOR