Tamboran Resources Corporation has announced a series of strategic updates in the Beetaloo Basin that are poised to shape its gas development plans. The company has finalized a checkerboard process with Daly Waters Energy, LP across three exploration permits, resulting in defined working interests. Under this arrangement, Tamboran retains a 77.5% operating interest in the remaining ex-EP 76, 98, and 117 acreage, while Daly Waters Energy and Falcon Oil & Gas Australia Limited hold 0% and 22.5% interests respectively. Additionally, the announced transaction includes the sale of 100,000 acres for US$15 million, with Daly Waters Energy acquiring a non-operating, non-controlling interest, subject to regulatory and shareholder approvals. In a complementary move, Tamboran is advancing its Phase 2 Development Area, a block of 406,693 gross acres situated immediately north of its Pilot Area. Post-sale, Tamboran is expected to hold a 58.12% operated interest over 236,370 net acres in this area, with Daly Waters Energy and Falcon Oil & Gas Australia Limited retaining 19.38% and 22.5% respectively. The company has engaged RBC Capital Markets to manage a formal farm down process for this area, a process anticipated to commence following the definitive results from the Shenandoah South 2H sidetrack well expected in June 2025. This farm down initiative is a key step in further monetizing the asset, with Daly Waters Energy provided with participation rights on equal terms. Tamboran’s focus on the Pilot Area is also highlighted, maintaining its current interests—47.5% operating interest in the northern area and involvement in the southern area, where expansion is anticipated following the acreage sale. The company’s broader portfolio includes significant acreage positions across various blocks, such as EP 136 and EP 161, ensuring a diversified asset base within the Beetaloo Basin. Tamboran is also moving forward on its proposed gas supply project aimed at Australia’s East Coast, aiming to leverage its recently secured funding to support drilling activities for initial production planned for mid-2026, subject to weather conditions and regulatory approvals. Bullish sentiment is supported by the strengthened acreage portfolio and clear strategic focus on development areas primed for production. The engagement of RBC Capital Markets indicates a commitment to unlocking additional value through farm down transactions, while the partner arrangements suggest a strong collaborative approach that could enhance Tamboran’s market position in a sector facing anticipated supply shortfalls. Conversely, bearish views may arise from the inherent risks of early-stage development, including the dependency on key flow test outcomes, regulatory approvals, and the speculative nature of drilling activity. Investors should also consider the uncertainties associated with forward-looking estimates and the potential for operational setbacks in a challenging exploration environment.