Tamboran Acquires Falcon, Consolidating Australia's Busy Oil Basin

Tamboran Resources Corp. (NYSE:TBN) and Falcon Oil & Gas Ltd. (OTC:FOLGF) signed a definitive agreement to merge operations across Australia's Beetaloo Basin, creating a company with about 2.9 million net acres and a pro forma market capitalization above $500 million. Tamboran will acquire Falcon by purchasing all its subsidiaries in exchange for 6.54 million shares of Tamboran stock and $23.7 million in cash. Falcon will then distribute Tamboran shares to eligible shareholders at a ratio of 0.00687 per Fa ...