Member Info for Oleo

Rhegs:

In the style of Rick Rule's characteristic analytical rigorand directness:

I've been in the natural resources business for over forty years.I've financed hundreds of junior resource companies. Most failed.Some succeeded modestly. A handful—perhaps five or six in my entirecareer—delivered truly transformational returns. Those few sharedfour characteristics:

World-class geology that could support decades of production

Exceptional management with proven track records in similar plays

Structural market demand that wasn't going away

Mispricing where the market hadn't yet recognized items 1-3

Tamboran Resources, as of April 2026, displays all fourcharacteristics simultaneously—a convergence that isextraordinarily rare.

Rhegs:

What Happened (March 30 - April 2, 2026):

March 30: DWE/INPEX farm-in announced at US$2,850/acre for pilot acreage

March 31: Sheffield's Hart Energy comment: "access will disappear... giddy up"

April 2: Simultaneous SS-6H IP20 release (11.9 MMcf/d) + CFO presentation at ADGO

Interpretation:

This is not coincidental. The pattern suggests:

Data room likely closed or closing

Multiple qualified bidders in final stages

Management creating urgency to prevent re-pricing or walkaway

IP20 release (vs. standard IP30/60/90) signals: (a) results strong enough to release early, or (b) contractual pressure to publish for deal justification

Sheffield's "Giddy Up" Comment - Decoded:

Sheffield built Parsley Energy (sold for US$7.6B) and is TBN'slargest shareholder. His public statement through Hart Energy—readby every global energy decision-maker—serves multiple purposes:

To bidders: "Make your best offer now or lose to competitor"

To market: "Re-price this asset immediately"

To supermajors on sidelines: "Last chance to enter"

This is classic M&A psychology, not promotional fluff.

fitz:

"tier 1 us shale transactions have historically cleared in the us$10,000–30,000 per acre range. while beetaloo remains earlier in its development cycle, it benefits from attributes that are arguably far superior in some material respects, including reservoir thickness, ****geneity and lack of legacy depletion. and super-premium market prices. a far superior revenue profile"

"a stronger outcome, driven by strategic participation and competitive bidding, could see pricing extend into the us$10,000 to us$15,000 per acre range, with higher levels possible in more aggressive scenarios."

NY SE, TBN ist hitting US$50 per share.

Tamboran's takeover plan for Falcon O&G given court's seal of approval

Acquisition will make Tamboran boss of the Beetaloo

Russell Yeo, 30 March 2026

Tamboran's takeover of Falcon Oil and Gas has been given the seal of approval by the supreme court in Vancouver after a last ditch intervention by a shareholder threatened to derail the bid. As reported...

https://www.energynewsbulletin.net/operations/news-articles/4529270/tamborans-takeover-plan-falcon-courts-seal-approval

Partnership highlights:

- INPEX to acquire ~68,000 net acres across a core ~355,000-gross-acre block within Formentera’s 1.9 million-net-acre position in the basin through a staged earn-in for up to $208 million in consideration, which is subject to structured off-ramp provisions.

- INPEX has option to acquire ~75,000 additional net acres within the core block for $266 - $411 million in consideration, dependent on option execution timing.

- The transaction consideration will be primarily delivered as development capital by carrying the well costs of the drilling program.

For the equivalent of around 3,000 US$/Acre or more (see option) INPEX gets a share of around 20% (=68,000 acre) respectively offers a free carry for the 350,000 acre block.

After PCL got the extension for one more year for our PE 87 in Namibia, the PCL share price became more voliatil and shows some nervous up and down.

This could be a sign that soon PCL& SEI will announce a major oil company as farmin partner for drilling the first exploration well into this big (perhaps with a many billion bbl potential) Saturn turbidite complex. Fingers crossed.

It is not the Japanese Inpex only.

Major oil companies like Exxon, Shell and Total are partners of the Qataris and they are loosing LNG at the moment. For compensating they could be more interested in the Beetaloo now.

Japan and some other asian countriels like South Korea should have increased interest in the Beetaloo because the are importing LNG.

Shell, Exxon, Total need to compensate their LNG losses in ME, Qatar. There should be a higher interest from these Majors now to get the Beetaloo.

Arabic State owned companies like Qatar energy are like a big one trick Pony. The need other LNG sources as well, like the Beetaloo.

The biggest gas field belongs to Qatar (=gas for the biggest LNG exporter) and to Iran (=gas for domestic use).

First Israel set fire to the Iranaian gas facilities and than as answer Iran set fire to the Qatari gas facilities.

Now Japan could be ready to pay an extra $ for Beetaloo LNG, for a secure LNG source.

https://www.aljazeera.com/news/liveblog/2026/3/19/iran-war-live-qatar-saudi-energy-sites-attacked-riyadh-says-trust-gone

Several Gulf states report Iranian attacks on energy sites after Israel struck Iran’s South Pars gasfield.

Tensions between Iran and its neighbours are growing. Qatar ordered Iranian security and military attaches to leave after Iranian missiles caused “extensive damage” to its main gas facility at Ras Laffan.

Tamnew on hotcopper has written:

I am sure that this $23 million had been agreed to last Fall with Lamesa Holdings, but with the recent rise in both Falcon and Tamboran shares -- the Russian may be playing games to get more $$ or a better option on the Escrow agreement With both Tamboran and Falcon shareholders voting in excess of 99% for this deal to complete -- I am fairly confident that the Judge will finalize the deal on March 24th,( possibly with all parties agreeing to some adjustments).

This is the text from todays news release

Lamesa Holding S.A., a beneficial shareholder of the Company, opposes the granting of the Final Order and appeared at the hearing. There was not sufficient time for the Court to hear the contested application for the Final Order on 13 March 2026 and consequently the hearing was adjourned until 24 March 2026.

Final Court hearing on 24 March 2026

Santos chief executive Kevin Gallagher has his eye on the Beetaloo Basin in the remote Barkly region of the NT to reinforce Darwin LNG’s future, supply domestic customers and potentially Santos’ GLNG export venture in Queensland.

“This is a gas resource that could be a game changer for a company, for the Northern Territory and for Australia,” Gallagher said. “And its scale will fulfil domestic and LNG markets here and on the east coast for decades.”

The resumption of exports from Darwin LNG using Barossa gas comes as global oil and gas markets have been hit by turmoil from the outbreak of war across the Middle East, which has disrupted supplies from the world’s original oil and gas powerhouse.

The suspension of LNG production last week by Qatar, second only to the United States in global export rankings, has in one stroke eliminated about one-fifth of world supply of the super-chilled gas, widely regarded as critical to support the transition to low-carbon energy.

“It really highlights the importance of Beetaloo to the Asian region – it couldn’t be more stark,” Santos chairman Keith Spence told the evening gathering, which was attended by its two Barossa equity partners: South Korea’s SK E&S and JERA, the world’s biggest LNG importer, involving Chubu Electric Power and Tokyo Electric Power.

2 weeks ago https://www.youtube.com/watch?v=X3Dkek3RKzw POQ said already goodbye to the FOG shareholders

X 40 does not work because soon there will be 24% more TBN shares (from FOG) on the market.

1.59 x 40 = 63.6 billion US$

There are not many big oil companies that could buy TBN for 60 billion, as Exxon did with Pioneer some years ago.

How can it be

on the one hand POQ tells us that TBN is the only possible deal in the Beetaloo for FOG

and on the other hand Todd Abbott the TBN CEO says at the same time and parallel:

“I would say generally speaking, we're still on the same timeline we were. Obviously, I can't talk too much about the specific to the farm out. I'll only say we've got some really interested, very credible parties in there. If you're sensing a little flex there, you know, that's possibly just a little time as we work through agreements, but the commercial process is no different than it was before.”

Since Mr POQ is not capable of selling FOG for 1.000 US$/acre in cash,

we are getting TBN now and TBN says:

The Falcon acquisition remains on track for completion in

early March 2026, which will lift TBN's Beetaloo acreage to ~2.9mm net acres.

First gas sales in Q3’26.

The Sturt Plateau Compression Facility (“SPCF”) was 78% complete at end-January

TBN has also commenced a divestment process for the sale of 100% of the SPCF.

FOG and TBN had no cash for a SPCF. But TBN was proactive and is selling the SPCF now, whereas POQ was passive.

Https://www.youtube.com/watch?v=X3Dkek3RKzw

The Q&A is already closed for this provided link