Tamboran's share of the next phase and disclaimers if funding not met4 May 2024 15:48
After reading that Tamboran's share of the "Full" Pilot Production plan (six wells, 20 mile pipeline, and compressioin facility) could be as high as $250 million Aussie dollars -- POQ's corporate decision to reduce Falcon's exposure to only 5% -- (while we let Riddle and Sheffield prove up the Beetaloo) is looking much better!! The last two paragraphs below (from the Tamboran prospectus) indicates that Tamboran may have to go other routes (like handing more control to Sheffield etc) if all the funding required by Tamboran, with the new listing in the US, can't be raised??
"We estimate the capital required to deliver the first development phase to production will be approximately $125 million (A$195 million) to $165 million (A$250 million) net to Tamboran. We expect to spend approximately $70 million (A$105 million) to $80 million (A$125 million) net on drilling and completion costs, $10 million (A$15 million) to $13 million (A$20 million) net on costs related to the development of the compression facility, $23 million (A$35 million) to $30 million (A$45 million) net on related pad construction and gathering infrastructure and $26 million (A$40 million) to $40 million (A$60 million) net on transaction and general and administrative expenses".
"We estimate that we will need to invest approximately $57 million for fiscal year 2024 in order to progress our development plans. We expect the proceeds of this offering, together with our existing cash on hand (which is $33 million), to be sufficient to fund our planned drilling and testing program at least through the end of fiscal year 2025".
"However, we may require significant additional funds earlier than we currently expect in order to execute our strategy as planned. We may seek additional funding through asset sales or public or private financings. Additional funding may not be available to us on acceptable terms or at all".