- Tamboran Resources (TBN) enters a trading halt while it finalises details for an upcoming capital raise
- Currently, it is not known how much the company is aiming to raise or where the funds will be spent
- Company shares will be paused until Tuesday, November 23, or when further details about the placement is released to the market
- Tamboran last traded at 38.5 cents per share on November 18
Tamboran Resources (TBN) has entered a trading halt as it prepares to raise fresh capital.
So far, there are no details regarding how much the company is planning to raise or on what the funds will be spent.
Under the halt, company shares will be paused until Tuesday, November 23, or when further details about the placement are released to the market.
Tamboran supports the net zero CO2 energy transition in Australia and Asia-Pacific by developing low CO2 unconventional gas resources in the Northern Territory.
Earlier this year, the company appointed Faron Thibodeaux as Chief Operating Officer.
Mr Thibodeaux brings more than 40 years of knowledge and experience in unconventional energy development.
Previously, he was the Senior Vice President for Global Drilling, Completions and Production Engineering of APA Corporation.
On the market, Tamboran last traded at 38.5 cents per share.