{"success":true,"data":{"pressRelease":{"id":"132385","rtpr_id":"nBw9pYhkMa","ticker":"TBN","exchange":"NYSE","all_tickers":["TBN"],"title":"Tamboran Resources Corporation Announces Commencement of SPCF Commissioning Activities","author":"Business Wire","published_at":"2026-09-01T12:00:00.391Z","article_body":"Tamboran Resources Corporation Announces Commencement of SPCF Commissioning\nActivities\n\nHighlights\n\n\n * The Sturt Plateau Compression Facility Trust (SPCF Trust), a 50/50 Joint\nVenture between Tamboran and Daly Waters Infrastructure, LP (DWI), has\ncommenced gas commissioning of the SPCF with gas from wells on the Shenandoah\nSouth 2 pad.\n\n * The SPCF is the key processing infrastructure required to deliver gas from the\nShenandoah South Pilot Area to the Northern Territory gas market.\n\n * The facility will be capable of processing up to 50 TJ/d of gas, with 40 TJ/d\ncontracted to the Northern Territory Government (NTG) under a long-term,\ntake-or-pay gas sales agreement (GSA).\n\n * The SPCF construction project remains on schedule and within the P50 gross\nbudget of A$141 million (~US$99 million).\n\n * During commissioning, the BJV will sell gas to the NTG at a discounted rate\nunder the long-term GSA, consistent with industry practice.\n\nTamboran Resources Corporation (NYSE: TBN, ASX: TBN):\n\nThis press release features multimedia. View the full release here:\nhttps://www.businesswire.com/news/home/20260831602336/en/\n(https://www.businesswire.com/news/home/20260831602336/en/)\n\nFigure 1: Sturt Plateau Compression Facility site, Shenandoah South\n\nTamboran Resources Corporation Chief Executive Officer, Mr. Todd Abbott, said:\n\n“Commissioning of the Sturt Plateau Compression Facility with gas from the\nSS2 well pad is a major milestone for Tamboran and the Beetaloo Basin. Full\ncredit goes to the Tamboran team, our partners, as well as our key\ncontractors, who have delivered the project on schedule and within budget.\n\n“With all five wells on the Shenandoah South 2 pad drilled, stimulated and\ntied back to the facility, we look forward to imminently delivering first gas\nsales of up to 40 TJ/d to the Northern Territory Government under our\nlong-term gas sales agreement, powering Northern Territory businesses and\nresidences.\n\n“The Beetaloo Basin is well positioned to deliver future energy security for\nAustralia and our trading partners across the Asia Pacific, whilst also\ndelivering lasting job and economic opportunities for Territorians and Native\nTitle Holders.”\n\nAbout the SPCF\n Owner:              SPCF Trust (50% Tamboran Resources, 50% Daly Waters Infrastructure, LP under     \n                     common ownership with Tamboran’s upstream joint venture partner, Daly Waters     \n                     Energy, LP)                                                                      \n Capacity:           50 TJ/d (~48.5 MMcf/d)                                                           \n Contracted Volume:  40 TJ/d (~38.8 MMcf/d) GSA for up to 14 years with the Northern Territory        \n                     Government                                                                       \n P50 Budget:         A$141 million (US$99 million)                                                    \n\n\nThis announcement was approved and authorised for release by Mr. Todd Abbott,\nthe Chief Executive Officer of Tamboran Resources Corporation.\n\nAbout Tamboran Resources Corporation\n\nTamboran Resources Corporation (NYSE/ASX: TBN) is a growth-driven independent\nnatural gas exploration and production company. Tamboran is focused on an\nintegrated approach to the commercial development of the natural gas resources\nin the Beetaloo Basin located within the Northern Territory of Australia.\nThrough its subsidiaries, Tamboran holds approximately 2.8 million net\nprospective acres and is the largest acreage holder in the Beetaloo Basin\ndepocenter.\n\nDisclaimer\n\nTamboran makes no representation, assurance or guarantee as to the accuracy or\nlikelihood of fulfilment of any forward-looking statement or any outcomes\nexpressed or implied in any forward-looking statement. The forward-looking\nstatements in this report reflect expectations held at the date of this\ndocument. Except as required by applicable law or the ASX Listing Rules,\nTamboran disclaims any obligation or undertaking to publicly update any\nforward-looking statements, or discussion of future financial prospects,\nwhether as a result of new information or of future events.\n\nThe information contained in this announcement does not take into account the\ninvestment objectives, financial situation or particular needs of any\nrecipient and is not financial product advice. Before making an investment\ndecision, recipients of this announcement should consider their own needs and\nsituation and, if necessary, seek independent professional advice. To the\nmaximum extent permitted by law, Tamboran and its officers, employees, agents\nand advisers give no warranty, representation or guarantee as to the accuracy,\ncompleteness or reliability of the information contained in this presentation.\nFurther, none of Tamboran nor its officers, employees, agents or advisers\naccept, to the extent permitted by law, responsibility for any loss, claim,\ndamages, costs or expenses arising out of, or in connection with, the\ninformation contained in this announcement.\n\nNote on Forward-Looking Statements\n\nThis press release contains “forward-looking” statements related to the\nCompany within the meaning of Section 21E of the Securities Exchange Act of\n1934, as amended (the “Exchange Act”), and Section 27A of the Securities\nAct of 1933, as amended. Forward-looking statements reflect the Company’s\ncurrent expectations and projections about future events at the time, and thus\ninvolve uncertainty and risk. The words “believe,” “expect,”\n“anticipate,” “will,” “could,” “would,” “should,”\n“may,” “plan,” “estimate,” “intend,” “predict,”\n“potential,” “continue,” “participate,” “progress,”\n“conduct” and the negatives of these words and other similar expressions\ngenerally identify forward-looking statements.\n\nIt is possible that the Company’s future financial performance may differ\nfrom expectations due to a variety of factors, including but not limited to:\nour early stage of development with no material revenue expected until the\nsecond half of 2026 and our limited operating history; the substantial\nadditional capital required for our business plan, which we may be unable to\nraise on acceptable terms; our strategy to deliver natural gas to the\nAustralian East Coast and select Asian markets being contingent upon\nconstructing additional pipeline capacity, which may not be secured; the\nabsence of proved reserves and the risk that our drilling may not yield\nnatural gas in commercial quantities or quality; the speculative nature of\ndrilling activities, which involve significant costs and may not result in\ndiscoveries or additions to our future production or reserves; the challenges\nassociated with importing U.S. practices and technology to the Northern\nTerritory, which could affect our operations and growth due to limited local\nexperience; the critical need for timely access to appropriate equipment and\ninfrastructure, which may impact our market access and business plan\nexecution; the operational complexities and inherent risks of drilling,\ncompletions, workover, and hydraulic fracturing operations that could\nadversely affect our business; the volatility of natural gas prices and its\npotential adverse effect on our financial condition and operations; the risks\nof construction delays, cost overruns, and negative effects on our financial\nand operational performance associated with midstream projects; the potential\nfundamental impact on our business if our assessments of the Beetaloo are\nmaterially inaccurate; the concentration of all our assets and operations in\nthe Beetaloo, making us susceptible to region-specific risks; the substantial\ndoubt raised by our recurring operational losses, negative cash flows, and\ncumulative net losses about our ability to continue as a going concern;\ncomplex laws and regulations that could affect our operational costs and\nfeasibility or lead to significant liabilities; community opposition that\ncould result in costly delays and impede our ability to obtain necessary\ngovernment approvals; exploration and development activities in the Beetaloo\nthat may lead to legal disputes, operational disruptions, and reputational\ndamage due to native title and heritage issues; the requirement to produce\nnatural gas on a Scope 1 net zero basis upon commencement of commercial\nproduction, with internal goals for operational net zero, which may increase\nour production costs; the increased attention to ESG matters and environmental\nconservation measures that could adversely impact our business operations;\nrisks related to our corporate structure; risks related to our common stock\nand CDIs; and the other risk factors discussed in the this report and the\nCompany’s filings with the Securities and Exchange Commission.\n\nIt is not possible to foresee or identify all such factors. Any\nforward-looking statements in this document are based on certain assumptions\nand analyses made by the Company in light of its experience and perception of\nhistorical trends, current conditions, expected future developments, and other\nfactors it believes are appropriate in the circumstances. Forward-looking\nstatements are not a guarantee of future performance and actual results or\ndevelopments may differ materially from expectations. While the Company\ncontinually reviews trends and uncertainties affecting the Company’s results\nof operations and financial condition, the Company does not assume any\nobligation to update or supplement any particular forward-looking statements\ncontained in this document.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260831602336/en/\n(https://www.businesswire.com/news/home/20260831602336/en/)\n\nInvestor enquiries: \n\nChris Morbey, Vice President – Investor Relations and Corporate Development\n\n+61 2 8330 6626\n\nInvestors@tamboran.com (mailto:Investors@tamboran.com)\n\nMedia enquiries: \n\n+61 2 8330 6626\n\nMedia@tamboran.com (mailto:Media@tamboran.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw9pYhkMa","title":"Tamboran Resources Corporation Announces Commencement of SPCF Commissioning Activities","author":"Business Wire","ticker":"TBN","created":"2026-09-01T12:00:00.391Z","tickers":["TBN"],"exchange":"NYSE","article_body":"Tamboran Resources Corporation Announces Commencement of SPCF Commissioning\nActivities\n\nHighlights\n\n\n * The Sturt Plateau Compression Facility Trust (SPCF Trust), a 50/50 Joint\nVenture between Tamboran and Daly Waters Infrastructure, LP (DWI), has\ncommenced gas commissioning of the SPCF with gas from wells on the Shenandoah\nSouth 2 pad.\n\n * The SPCF is the key processing infrastructure required to deliver gas from the\nShenandoah South Pilot Area to the Northern Territory gas market.\n\n * The facility will be capable of processing up to 50 TJ/d of gas, with 40 TJ/d\ncontracted to the Northern Territory Government (NTG) under a long-term,\ntake-or-pay gas sales agreement (GSA).\n\n * The SPCF construction project remains on schedule and within the P50 gross\nbudget of A$141 million (~US$99 million).\n\n * During commissioning, the BJV will sell gas to the NTG at a discounted rate\nunder the long-term GSA, consistent with industry practice.\n\nTamboran Resources Corporation (NYSE: TBN, ASX: TBN):\n\nThis press release features multimedia. View the full release here:\nhttps://www.businesswire.com/news/home/20260831602336/en/\n(https://www.businesswire.com/news/home/20260831602336/en/)\n\nFigure 1: Sturt Plateau Compression Facility site, Shenandoah South\n\nTamboran Resources Corporation Chief Executive Officer, Mr. Todd Abbott, said:\n\n“Commissioning of the Sturt Plateau Compression Facility with gas from the\nSS2 well pad is a major milestone for Tamboran and the Beetaloo Basin. Full\ncredit goes to the Tamboran team, our partners, as well as our key\ncontractors, who have delivered the project on schedule and within budget.\n\n“With all five wells on the Shenandoah South 2 pad drilled, stimulated and\ntied back to the facility, we look forward to imminently delivering first gas\nsales of up to 40 TJ/d to the Northern Territory Government under our\nlong-term gas sales agreement, powering Northern Territory businesses and\nresidences.\n\n“The Beetaloo Basin is well positioned to deliver future energy security for\nAustralia and our trading partners across the Asia Pacific, whilst also\ndelivering lasting job and economic opportunities for Territorians and Native\nTitle Holders.”\n\nAbout the SPCF\n Owner:              SPCF Trust (50% Tamboran Resources, 50% Daly Waters Infrastructure, LP under     \n                     common ownership with Tamboran’s upstream joint venture partner, Daly Waters     \n                     Energy, LP)                                                                      \n Capacity:           50 TJ/d (~48.5 MMcf/d)                                                           \n Contracted Volume:  40 TJ/d (~38.8 MMcf/d) GSA for up to 14 years with the Northern Territory        \n                     Government                                                                       \n P50 Budget:         A$141 million (US$99 million)                                                    \n\n\nThis announcement was approved and authorised for release by Mr. Todd Abbott,\nthe Chief Executive Officer of Tamboran Resources Corporation.\n\nAbout Tamboran Resources Corporation\n\nTamboran Resources Corporation (NYSE/ASX: TBN) is a growth-driven independent\nnatural gas exploration and production company. Tamboran is focused on an\nintegrated approach to the commercial development of the natural gas resources\nin the Beetaloo Basin located within the Northern Territory of Australia.\nThrough its subsidiaries, Tamboran holds approximately 2.8 million net\nprospective acres and is the largest acreage holder in the Beetaloo Basin\ndepocenter.\n\nDisclaimer\n\nTamboran makes no representation, assurance or guarantee as to the accuracy or\nlikelihood of fulfilment of any forward-looking statement or any outcomes\nexpressed or implied in any forward-looking statement. The forward-looking\nstatements in this report reflect expectations held at the date of this\ndocument. Except as required by applicable law or the ASX Listing Rules,\nTamboran disclaims any obligation or undertaking to publicly update any\nforward-looking statements, or discussion of future financial prospects,\nwhether as a result of new information or of future events.\n\nThe information contained in this announcement does not take into account the\ninvestment objectives, financial situation or particular needs of any\nrecipient and is not financial product advice. Before making an investment\ndecision, recipients of this announcement should consider their own needs and\nsituation and, if necessary, seek independent professional advice. To the\nmaximum extent permitted by law, Tamboran and its officers, employees, agents\nand advisers give no warranty, representation or guarantee as to the accuracy,\ncompleteness or reliability of the information contained in this presentation.\nFurther, none of Tamboran nor its officers, employees, agents or advisers\naccept, to the extent permitted by law, responsibility for any loss, claim,\ndamages, costs or expenses arising out of, or in connection with, the\ninformation contained in this announcement.\n\nNote on Forward-Looking Statements\n\nThis press release contains “forward-looking” statements related to the\nCompany within the meaning of Section 21E of the Securities Exchange Act of\n1934, as amended (the “Exchange Act”), and Section 27A of the Securities\nAct of 1933, as amended. Forward-looking statements reflect the Company’s\ncurrent expectations and projections about future events at the time, and thus\ninvolve uncertainty and risk. The words “believe,” “expect,”\n“anticipate,” “will,” “could,” “would,” “should,”\n“may,” “plan,” “estimate,” “intend,” “predict,”\n“potential,” “continue,” “participate,” “progress,”\n“conduct” and the negatives of these words and other similar expressions\ngenerally identify forward-looking statements.\n\nIt is possible that the Company’s future financial performance may differ\nfrom expectations due to a variety of factors, including but not limited to:\nour early stage of development with no material revenue expected until the\nsecond half of 2026 and our limited operating history; the substantial\nadditional capital required for our business plan, which we may be unable to\nraise on acceptable terms; our strategy to deliver natural gas to the\nAustralian East Coast and select Asian markets being contingent upon\nconstructing additional pipeline capacity, which may not be secured; the\nabsence of proved reserves and the risk that our drilling may not yield\nnatural gas in commercial quantities or quality; the speculative nature of\ndrilling activities, which involve significant costs and may not result in\ndiscoveries or additions to our future production or reserves; the challenges\nassociated with importing U.S. practices and technology to the Northern\nTerritory, which could affect our operations and growth due to limited local\nexperience; the critical need for timely access to appropriate equipment and\ninfrastructure, which may impact our market access and business plan\nexecution; the operational complexities and inherent risks of drilling,\ncompletions, workover, and hydraulic fracturing operations that could\nadversely affect our business; the volatility of natural gas prices and its\npotential adverse effect on our financial condition and operations; the risks\nof construction delays, cost overruns, and negative effects on our financial\nand operational performance associated with midstream projects; the potential\nfundamental impact on our business if our assessments of the Beetaloo are\nmaterially inaccurate; the concentration of all our assets and operations in\nthe Beetaloo, making us susceptible to region-specific risks; the substantial\ndoubt raised by our recurring operational losses, negative cash flows, and\ncumulative net losses about our ability to continue as a going concern;\ncomplex laws and regulations that could affect our operational costs and\nfeasibility or lead to significant liabilities; community opposition that\ncould result in costly delays and impede our ability to obtain necessary\ngovernment approvals; exploration and development activities in the Beetaloo\nthat may lead to legal disputes, operational disruptions, and reputational\ndamage due to native title and heritage issues; the requirement to produce\nnatural gas on a Scope 1 net zero basis upon commencement of commercial\nproduction, with internal goals for operational net zero, which may increase\nour production costs; the increased attention to ESG matters and environmental\nconservation measures that could adversely impact our business operations;\nrisks related to our corporate structure; risks related to our common stock\nand CDIs; and the other risk factors discussed in the this report and the\nCompany’s filings with the Securities and Exchange Commission.\n\nIt is not possible to foresee or identify all such factors. Any\nforward-looking statements in this document are based on certain assumptions\nand analyses made by the Company in light of its experience and perception of\nhistorical trends, current conditions, expected future developments, and other\nfactors it believes are appropriate in the circumstances. Forward-looking\nstatements are not a guarantee of future performance and actual results or\ndevelopments may differ materially from expectations. While the Company\ncontinually reviews trends and uncertainties affecting the Company’s results\nof operations and financial condition, the Company does not assume any\nobligation to update or supplement any particular forward-looking statements\ncontained in this document.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260831602336/en/\n(https://www.businesswire.com/news/home/20260831602336/en/)\n\nInvestor enquiries: \n\nChris Morbey, Vice President – Investor Relations and Corporate Development\n\n+61 2 8330 6626\n\nInvestors@tamboran.com (mailto:Investors@tamboran.com)\n\nMedia enquiries: \n\n+61 2 8330 6626\n\nMedia@tamboran.com (mailto:Media@tamboran.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-09-01T12:00:00.456457928Z","server_sent_at_ms":1788264000456},"received_at":"2026-09-01T12:00:00.564Z","source_url":"https://www.businesswire.com/news/home/20260831602336/en/"},"analysis":{"id":"121287","press_release_id":"132385","analysis_json":{"industry":{"label":"Oil, Gas & Consumable Fuels","sector":"Energy"},"redFlags":["Company discloses 'substantial doubt' about ability to continue as a going concern due to recurring losses","No material revenue expected until second half of 2026"],"eventType":"operations_update","narrative":"Tamboran Resources has commenced gas commissioning activities at the Sturt Plateau Compression Facility (SPCF), a key processing asset for the Shenandoah South Pilot Area.\n\nThe facility is capable of processing 50 TJ/d of gas, with 40 TJ/d already contracted to the Northern Territory Government under a long-term take-or-pay agreement.\n\nThe project remains on schedule and within the P50 budget of A$141 million, positioning the company to deliver first gas sales imminently.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Key de-risking milestone achieved as Tamboran moves toward first gas sales from the Beetaloo Basin."},"keyFigures":{"customDimensions":{"capacity_tj_per_day":50,"p50_budget_aud_millions":141,"p50_budget_usd_millions":99,"contracted_volume_tj_per_day":40}},"quotedText":"Commissioning of the Sturt Plateau Compression Facility with gas from the SS2 well pad is a major milestone for Tamboran and the Beetaloo Basin.","namedEntities":{"people":[{"name":"Todd Abbott","role":"Chief Executive Officer"},{"name":"Chris Morbey","role":"Vice President – Investor Relations and Corporate Development"}],"products":["Sturt Plateau Compression Facility (SPCF)","Shenandoah South Pilot Area","Beetaloo Basin"],"companies":[{"name":"Tamboran Resources Corporation","ticker":"TBN"},{"name":"Daly Waters Infrastructure, LP","relationship":"joint venture partner"},{"name":"Daly Waters Energy, LP","relationship":"upstream joint venture partner"},{"name":"Northern Territory Government","relationship":"customer"}],"dollarAmounts":[{"amount":"A$141 million","context":"P50 gross budget of SPCF construction"},{"amount":"~US$99 million","context":"P50 gross budget of SPCF construction"}]},"materialImpact":{"score":4,"reasoning":"Commencement of commissioning at the Sturt Plateau Compression Facility represents a major de-risking milestone, marking the transition from construction to revenue-generating operations with 40 TJ/d already contracted."},"tickerRelevance":{"others":[],"primary":"TBN"},"globalImportance":30,"audienceRelevance":25,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-mid-cap","eventGravity":"operational-milestone-first-gas","sectorWeight":"energy"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":4,"narrative":"Tamboran Resources has commenced gas commissioning activities at the Sturt Plateau Compression Facility (SPCF), a key processing asset for the Shenandoah South Pilot Area.\n\nThe facility is capable of processing 50 TJ/d of gas, with 40 TJ/d already contracted to the Northern Territory Government under a long-term take-or-pay agreement.\n\nThe project remains on schedule and within the P50 budget of A$141 million, positioning the company to deliver first gas sales imminently.","key_figures":{"customDimensions":{"capacity_tj_per_day":50,"p50_budget_aud_millions":141,"p50_budget_usd_millions":99,"contracted_volume_tj_per_day":40}},"named_entities":{"people":[{"name":"Todd Abbott","role":"Chief Executive Officer"},{"name":"Chris Morbey","role":"Vice President – Investor Relations and Corporate Development"}],"products":["Sturt Plateau Compression Facility (SPCF)","Shenandoah South Pilot Area","Beetaloo Basin"],"companies":[{"name":"Tamboran Resources Corporation","ticker":"TBN"},{"name":"Daly Waters Infrastructure, LP","relationship":"joint venture partner"},{"name":"Daly Waters Energy, LP","relationship":"upstream joint venture partner"},{"name":"Northern Territory Government","relationship":"customer"}],"dollarAmounts":[{"amount":"A$141 million","context":"P50 gross budget of SPCF construction"},{"amount":"~US$99 million","context":"P50 gross budget of SPCF construction"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-01T12:29:36.214Z","global_importance":30,"audience_relevance":25,"importance_components":{"tickerTier":"small-mid-cap","eventGravity":"operational-milestone-first-gas","sectorWeight":"energy"}},"durationMs":493584,"modelName":"glm-4.7"}}