Member Info for newtofo

Thanks Lockview, POQ just sent out an updated email notice with a copy of the Letter of Transmittal and how that Letter needs to go to our various brokers if your share certificates are held by your broker (which almost all are).

In the information Circular that Falcon sent our a few months ago -- it stated that a Letter of Transmittal was sent at the same time, but I never received that Letter of Transmittal and POQ has not responded as yet to my request for that Letter of Transmittal.

I have talked to my Qtrade account rep and my BMO Investor rep and they both have indicated that they need that Letter of Transmittal form filled in 9in order to submit that completed form to Computershare here in Canada -- so that my Falcon shares can be converted to Tamboran shares next week.

Any help and/or a copy of the Transmittal Form would be most appreciated.

Absolutely 805. There will be very accurate flow measurements from each well when they are on production. This was one of Todd Abbott's points as he knows that the pipeline companies like APA will be watching those flow rates carefully to get the decline rate that will be part of their assessment on building the bigger pipes in the future.

Lockview -- when you get a chance read through the latest postings on the TBN HotCopper Board.

The best news is the Falcon merger is now expected to complete by the end of this month, and Todd Abbott mentioned that it has been a much more complex process than anyone expected, but that has been resolved and Falcon shareholders should be converting to TBN by May 31st is what he indicated.

The Farm Down appears to be delayed as more participants in the DATA room are coming in due the crap on the Persian Gulf, but the recent funding raise (and almost $300 million US in the bank) is giving TBN the luxury of being a bit selective in finding the absolute best long term Farm Down partner.

Tamboran Resources Corporation - Webcast Registration -- where we will hopefully hear an update on the Falcon merger, along with news that the fracking on SSH3, SSH4 (after fixing the equipment stuck in the well bore) and SSH5 wells has commenced:

https://ir.tamboran.com/webcast-registration?event_id=10427

805 -- surprisingly Inpex is in that group of Asian sovereign funds I was referring to. I am fairly sure that the Japanese government is the largest shareholder of Inpex.

The situation with less reliability of LNG coming from Qatar in the future seems to be driving the HotCopper posts more towards seeing a more favorable Farm Down coming from Mitsui or possibly the Korean sovereign fun???

805. There's probably a good chance that Tamboran already has one or two prospective Farm Down companies on their short list already.

TBN is most likely slow walking the Farm Down process due to the current delay in clearing the merger with the SCC until the Russian has been completely sealed out of any part of TBN along with some clarity that there won't be any large government windfall tax on LNG )especially if one of the Farm Down candidates is an Asian Sovereign Fund).

There were a couple of Aussie news organizations putting out reports today that Prime minister Albanese is now not in favor of this Green's led initiative, but TBN would most likely want to see the next budget on May 14th to be sure there is either no windfall tax or a very minor one??

805 -- this ridiculous proposed windfall tax could be a major headache for Tamboran and many others. There have been comments in the Aussie press that up to $70 billion in proposed expansions by the existing LNG producers in Australia (Santos, Woodside, Chevron and Shell) could be cancelled or severely curtained if the idiots in Canberra go ahead with this proposed tax.

From the Guardian newspaper today:

"Bosses of Santos, Woodside, Chevron and Shell asked to give evidence to Greens-led gas tax inquiry

Labor is under pressure to impose a new 25% export tax amid soaring prices from the global fuel shock"

The Japanese Ambassador to Australia (on March 25th) gave a very stern speech that the Aussie gov't could risk major shifts in Japanese and Aussie relations if this tax goes ahead, and the Japanese Prime Minister is now expected in Canberra before any vote on this tax takes place in May.

I am not sure how this would be affecting the current Farm Down negotiations, but it certainly can't be helping. Even though the war with Iran has altered the future sources for LNG away from the Gulf -- it would certainly help deflect this windfall tax if the Hormuz gets open and both oil and LNG begin to move through the Hormuz -- before any vote on this tax takes place. Australia only has enough gas and diesel for another month - and this is driving some of the windfall tax popularity, but Albanese said yesterday that 73 tankers (from America and Singapore I believe) are on route to Australia -- so that might help deflect this stupid tax as well??

Longknife: -- I don't think this massive fund raise by TBN (which is already close to 90% complete) was totally about this proposed windfall tax. I am fairly sure it was more about hitting the markets while the stock was HOT ($50 US) and getting the underwriters to guarantee the placements in exchange for a huge price drop of $15 per share?? The consensus seems to be more about removing any risk of funds running out later this year and now moving that funding through into 2028. This will give TBN more than enough funds to cover the south Pilot zone drilling of the SSH7 and SSH8, along with the Santos 25% obligations, and further exploration in the Eastern checkerboard zone that could eventually lead to a second TBN Farm Down.

805. -- my son did some further digging and it appears this update from tamboran is more of an SEC thing -- and maybe not much of a serious delay. Hopefully we get a bit more clarity from Falcon tomorrow.

Tamboran just released an update that both Falcon and Tamboran have now extended the closing of the merger to April 30th. There is also mention of a possible further extension to June 30th if they can't get the stupid BC Supreme court approval by April 30th.

Not too sure what the feck happens if a Farm Down is either announced before the merger or possibly delayed due to the fecking Russian holding this deal hostage??

805. -- I was a little concerned about that too -- but the SSH6 well is almost 4 mm more gas per day than the Carpenteria C5 well for Empire -- so definitely much more commercial. Smallfish just posted that the usual practice is to go for at least 30 days as the SSH6 was still clearing water so that well would probably have performed a bit better, but TBN didn't want to waste any more gas

Old -- this slightly disappointing flow rate was announced after the markets closed. Today's drop was in concert with most energy stocks.

While the current price of oil is still high -- the futures market has fallen quite a bit on the Whitehouse pending TACO announcements that the US will most likely abandon the strait of Hormuz for others to figure out.

The actual volume of the flow rate was a record, but only because this was the longest horizontal that Tamboran has completed (and even then the full horizontal of 10,000 was not completed with the toe-end 15% shut off).

The best well to date -- was the very very short 1/2 km SSH1(and the only Pilot well that Falcon patriated in to the full 22.5%). That very first well at only 1/2 km produced the best results to date -- at a normalized 3km rate of 18 mm cu/ft per day -- in the original well pad to the south of the SSH6 well pad.

These results -- while certainly commercial are not very close to the 6mm per 1000 meters that was expected. Maybe all the great engineers on board with TBN and Liberty can fine tune the fracking and soaking in order to get back to what the SSH1 was producing when TBN was using local Aussie company -- Condor Fracking??

Apologies -- as brain and fingers don't want to cooperate at times -- LOL

which looks "GOOD" from any prospective Farm Down partner

Pretty much correct Longknife -- but could also be construed as Daly Waters sharing a bit of the $211 million that Inpex will be paying DW.

The price per acre (which at 10,000 acres doesn't make a big difference for TBN out their millions of acres) works out to $2800 per acre and will give Tamboran some added liquidity as more drilling commences. The deal also seems to really cement the partnership between Daly Waters and Tamboran in both the the Southern and Northern Pilot Production areas -- where they will now be equal partners.

This deal will net Daly Waters a bit more of the cash flow from the Northern Pilot area (where DW went from zero to 5.25%), but TBN gets an extra $28 million US for operating capital top up -- which looks from any prospective Farm Down partner on the Phase 2 development which is almost exclusively a Tamboran zone.

Schlemiel -- here is Smallfish's take on the TEE permits sitting just above the Beetaloo Basin. It might be interesting to hear what TEE announces on Monday, (after TEE voluntarily suspended trading on Friday) -- ibut it is very doubtful that Tamboran will be stepping in with any offer on that part of the upper Beetaloo.

Smallfish wrote about an hour ago: "TBN gave those acres up years ago, they're worthless for this purpose".

Absolutely right 805 -- as there is a lot on political aggravation posted on the HotCopper Board too! I try to navigate a bit around some of them (like Kangaroo and NoComment), but the pearls of wisdom from the better posters are quite illuminating and worth the effort of navigating through the others!!

Otd -- that acreage valuation of $3000 US per acre (from the Inpex and Daly Waters recent JV) -- could theoretically only be applied to Tamboran's Phase 2 development area -- which is 500,000 acres in size post the merger with Falcon. The remaining acreage (outside of the Phase 2 half million acres)) has not had enough exploration work done to give any of the investment funds a serious level of confidence that the remaining acreage is worth any more than the $170 US per acre that the Falcon merger established. That will change over time -- as more development happens in other areas (like the 6 well exploration wells planned by Santos on EP161 -- which TBN has a 25% interest ownership.

This $3000 US valuation deal with Inpex on the Pilot postage stamp and 65,000 acres of Daly Waters owned Checkerboard area to the south of the Pilot Production zone (which has identical Velkerri B geology for shale gas production in the anticipated Phase 2 Tamboran Farm Down zone) has set a new benchmark price for the Phase 2 acreage -- but not for the remaining acreages so far.

This massive endorsement by a major Japanese LNG company of $3000 per acre -- would indicate that right now Tamboran is most likely undervalued (just on the Phase 2 development zone) by something close to 50% higher than the current $43 US per share -- and probably why the huge increase in volume and price on Friday.

I highly recommend that all long term Falcon owners -- that are planning on staying Tamboran owners for another year or longer -- to join the Tamboran HotCopper Board. The posts on the HotCopper Board are very knowledgeable and detailed -- especially the ones by Smallfish, Fitz65 -- (which schliemiel kindly posted today), Rhegs, OppcolP, and amd many others on everything Tamboran -- as most of them have been following both Tamboran and the Aussie markets for years.

Just a side note -- that when regular posters to the HotCopper board include a chart or clip from another source -- they attachments will only show up for non-members as a tiny "thumbnail" that are almost entirely unreadable. However, if you sign up to join the HotCopper bulletin board -- those Thumbnails become full sized links that are easily readable.

Thanks 805 -- my son (who if infinitely more tech savvy than I) -- did a quick SEDAR search this morning as well -- and only found the same as you with the latest info being the Press Release from yesterday!! Just guessing -- but there could be a delay until the Supreme Court ruling is finalized and posted by the Court first??

I will be checking the Court rulings page later today -- and will post anything of value from their site if it comes out. If you see an update on SEDAR over the next few days -- posting that update here would be most appreciated. The good thing is the market in the US seems to thrilled as the price now is just under $40 US.

Thanks Origin789 -- I saw that Tamboran update from what POQ sent out this morning, but I am trying to access SEDAR to see what the Supreme Court has required TBN and FO to get done for clearing the Russian out and when they have extended to merger finalization to?? You need to be much smarter than I am to figure out SEDAR's site -- LOL.

From the Falcon Press Release: For further information regarding the Transaction, please refer to the notice of meeting, themanagement information circular and related documents which are available on SEDAR+ atwww.sedarplus.ca