Falcon Oil & Gas Ltd. has announced an agreement to sell its wholly owned subsidiaries to Tamboran Resources in exchange for 6,537,503 shares of Tamboran NYSE Common Stock and US$23.7 million in cash. The subsidiaries being acquired include TXM Oil and Gas Exploration Kft., Falcon Oil & Gas Ireland Ltd., Falcon Oil & Gas Holdings Ireland Ltd., Falcon Exploration and Production South Africa (Pty) Ltd., and Falcon Oil & Gas Australia Limited, in which Falcon holds a 98.1% majority stake. The transaction has received unanimous approval from the boards of both Falcon and Tamboran, and is expected to close in the first quarter of 2026, pending satisfaction of closing conditions. Following completion, Falcon shareholders are expected to own approximately 26.8% of the combined entity. Falcon Oil & Gas Ltd. CEO Philip O'Quigley stated that the deal will bring shareholders' interests in the Beetaloo Basin directly to the centre of operations and will involve key historic partners, including Hess Corporation and Origin Energy, in efforts to de-risk the play.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Falcon Oil & Gas Ltd. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW1001130614-en) on September 30, 2025, and is solely responsible for the information contained therein.
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