Tamboran Resources (TBN) 10-Q 12 Feb 25 2025 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 31, 2024	Feb. 01, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Entity File Number	001-42149
Registrant Name	Tamboran Resources Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	93-4111196
Entity Address, Address Line One	Suite 01, Level 39, Tower One,
Entity Address, Address Line Two	International Towers
Entity Address, City or Town	Sydney
Entity Address, Address Line Three	100 Barangaroo Avenue
Entity Address, Country	AU
Entity Address, Postal Zip Code	2000
City Area Code	61
Local Phone Number	2 8330 6626
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	TBN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		14,536,774
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Central Index Key	0001997652
Amendment Flag	false
Current Fiscal Year End Date	--06-30

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Dec. 31, 2024	Jun. 30, 2024
Current assets
Cash and cash equivalents	$ 59,442,407	$ 74,745,897
Trade and other receivables:
Joint interest billing	3,565,181	10,298,322
ATO receivable	2,072,833	700,115
Other tax receivables	45,478	11,514
Assets held for sale	0	8,366,000
Prepaid expenses and other current assets	2,188,368	3,209,033
Total current assets	67,314,267	97,330,881
Property, plant and equipment, net	222,898	102,244
Operating lease right-of-use assets	833,824	962,052
Finance lease right-of-use assets	15,632,023	20,697,452
Prepaid expenses and other non-current assets	2,909,823	1,889,890
Total non-current assets	295,605,319	261,313,150
TOTAL ASSETS	362,919,586	358,644,031
Current liabilities
Accounts payable and accrued expenses	22,565,505	14,832,599
Current portion of operating lease obligations	279,401	397,999
Current portion of finance lease obligations	15,205,744	12,767,400
Total current liabilities	38,050,650	27,997,998
Operating lease obligations	573,239	587,250
Finance lease obligations	6,618,699	14,141,713
Asset retirement obligations	8,523,832	8,140,992
Other non-current liabilities	103,976	90,378
Total non-current liabilities	15,819,746	22,960,333
Total liabilities	53,870,396	50,958,331
Commitments and contingencies (Note 11)
Stockholders’ equity
Common stock, $0.001 par value, 10,000,000,000 authorized; 14,536,774 and 13,915,524 issued and outstanding at December 31, 2024 and June 30, 2024, respectively.	14,536	13,915
Additional paid-in capital	420,230,876	404,594,023
Accumulated other comprehensive loss	(25,924,767)	(11,512,975)
Accumulated deficit	(150,441,291)	(130,379,771)
Total Tamboran Resources Corporation stockholders’ equity	243,879,354	262,715,192
Noncontrolling interest	65,169,836	44,970,508
Total stockholders’ equity	309,049,190	307,685,700
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	362,919,586	358,644,031
Unproved properties
Trade and other receivables:
Natural gas properties, successful efforts method:	264,156,414	230,119,448
Assets under construction - natural gas equipment
Trade and other receivables:
Natural gas properties, successful efforts method:	$ 11,850,337	$ 7,542,064

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Dec. 31, 2024	Jun. 30, 2024
Statement of Financial Position [Abstract]
Common stock, par value per share (in USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	10,000,000,000	10,000,000,000
Common stock, shares, issued (in shares)	14,536,774	13,915,524
Common stock, shares, outstanding (in shares)	14,536,774	13,915,524

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Revenue and other operating income	$ 0	$ 0	$ 0	$ 0
Operating costs and expenses
Compensation and benefits, including stock-based compensation	(1,682,928)	(506,403)	(3,902,061)	(1,764,394)
Consultancy, legal and professional fees	(1,004,147)	(2,404,404)	(2,683,825)	(3,785,275)
Depreciation and amortization	(30,740)	(29,072)	(61,415)	(58,084)
Loss on remeasurement of assets classified as held for sale	0	(25,605)	(376,000)	(25,605)
Accretion of asset retirement obligations	(242,066)	(215,282)	(499,804)	(429,597)
Exploration expense	(1,473,303)	(2,482,137)	(2,482,812)	(3,387,001)
LNG feasibility study expense	(3,232,897)	0	(3,232,897)	0
Checkerboard fee	(5,950,000)	0	(5,950,000)	0
General and administrative	(1,398,766)	(1,069,047)	(2,804,104)	(1,597,986)
Total operating costs and expenses	(15,014,847)	(6,731,950)	(21,992,918)	(11,047,942)
Loss from operations	(15,014,847)	(6,731,950)	(21,992,918)	(11,047,942)
Other income (expense)
Interest income, net	705,428	164,743	1,501,471	248,531
Foreign exchange loss, net	(1,227,852)	(888,538)	(1,481,884)	(274,192)
Other income (expense), net	37,167	(64,752)	(282,340)	(199,027)
Total other income (expense)	(485,257)	(788,547)	(262,753)	(224,688)
Net loss	(15,500,104)	(7,520,497)	(22,255,671)	(11,272,630)
Less: Net loss attributable to noncontrolling interest	(1,333,158)	(1,494,166)	(2,194,151)	(2,056,601)
Net loss attributable to Tamboran Resources Corporation stockholders	(14,166,946)	(6,026,331)	(20,061,520)	(9,216,029)
Comprehensive income (loss)
Net loss	(15,500,104)	(7,520,497)	(22,255,671)	(11,272,630)
Other comprehensive income (loss)
Foreign exchange translation	(29,158,105)	13,650,998	(17,009,928)	8,333,400
Total comprehensive income (loss)	(44,658,209)	6,130,501	(39,265,599)	(2,939,230)
Less: Total comprehensive income (loss) attributable to noncontrolling interest	(5,358,510)	746,029	(4,792,287)	(655,891)
Total comprehensive income (loss) attributable to Tamboran Resources Corporation stockholders	$ (39,299,699)	$ 5,384,472	$ (34,473,312)	$ (2,283,339)
Net loss per common stock
Net loss per common stock, basic (in USD per share)	$ (0.987)	$ (0.690)	$ (1.409)	$ (1.070)
Net loss per common stock, diluted (in USD per share)	$ (0.987)	$ (0.690)	$ (1.409)	$ (1.070)
Weighted average number of common stock outstanding
Weighted average number of common stock outstanding, basic (in shares)	14,346,556	8,735,752	14,236,753	8,612,217
Weighted average number of common stock outstanding, diluted (in shares)	14,346,556	8,735,752	14,236,753	8,612,217

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED) - USD ($)	Total	Total Tamboran Resources stockholders’ equity	Common stock	Additional paid-in capital	Accumulated other comprehensive loss	Accumulated deficit	Noncontrolling interest
Beginning balance at Jun. 30, 2023	$ 160,580,946	$ 139,534,476	$ 7,080	$ 259,298,821	$ (11,310,125)	$ (108,461,300)	$ 21,046,470
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance cost	34,398,413	34,398,413	1,503	34,396,910
Contributions from noncontrolling interest holders	6,149,495						6,149,495
Stock-based compensation	268,403	268,403		268,403
Foreign exchange translation	(5,317,598)	(4,478,113)			(4,478,113)		(839,485)
Net loss	(3,752,133)	(3,189,698)				(3,189,698)	(562,435)
Ending balance at Sep. 30, 2023	192,327,526	166,533,481	8,583	293,964,134	(15,788,238)	(111,650,998)	25,794,045
Beginning balance at Jun. 30, 2023	160,580,946	139,534,476	7,080	259,298,821	(11,310,125)	(108,461,300)	21,046,470
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign exchange translation	8,333,400
Net loss	(11,272,630)
Ending balance at Dec. 31, 2023	228,223,765	196,872,782	9,858	318,917,688	(4,377,435)	(117,677,329)	31,350,983
Beginning balance at Sep. 30, 2023	192,327,526	166,533,481	8,583	293,964,134	(15,788,238)	(111,650,998)	25,794,045
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance cost	24,955,627	24,955,627	1,275	24,954,352
Contributions from noncontrolling interest holders	4,810,909						4,810,909
Stock-based compensation	(798)	(798)		(798)
Foreign exchange translation	13,650,998	11,410,803			11,410,803		2,240,195
Net loss	(7,520,497)	(6,026,331)				(6,026,331)	(1,494,166)
Ending balance at Dec. 31, 2023	228,223,765	196,872,782	9,858	318,917,688	(4,377,435)	(117,677,329)	31,350,983
Beginning balance at Jun. 30, 2024	307,685,700	262,715,192	13,915	404,594,023	(11,512,975)	(130,379,771)	44,970,508
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance cost	6,930,850	6,930,850	309	6,930,541
Contributions from noncontrolling interest holders	5,902,678						5,902,678
Stock-based compensation	1,129,450	1,129,450		1,129,450
Foreign exchange translation	12,148,177	10,720,961			10,720,961		1,427,216
Net loss	(6,755,567)	(5,894,574)				(5,894,574)	(860,993)
Ending balance at Sep. 30, 2024	327,041,288	275,601,879	14,224	412,654,014	(792,014)	(136,274,345)	51,439,409
Beginning balance at Jun. 30, 2024	307,685,700	262,715,192	13,915	404,594,023	(11,512,975)	(130,379,771)	44,970,508
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign exchange translation	(17,009,928)
Net loss	(22,255,671)
Ending balance at Dec. 31, 2024	309,049,190	243,879,354	14,536	420,230,876	(25,924,767)	(150,441,291)	65,169,836
Beginning balance at Sep. 30, 2024	327,041,288	275,601,879	14,224	412,654,014	(792,014)	(136,274,345)	51,439,409
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance cost	5,950,000	5,950,000	312	5,949,688
Contributions from noncontrolling interest holders	19,088,937						19,088,937
Stock-based compensation	1,627,174	1,627,174		1,627,174
Foreign exchange translation	(29,158,105)	(25,132,753)			(25,132,753)		(4,025,352)
Net loss	(15,500,104)	(14,166,946)				(14,166,946)	(1,333,158)
Ending balance at Dec. 31, 2024	$ 309,049,190	$ 243,879,354	$ 14,536	$ 420,230,876	$ (25,924,767)	$ (150,441,291)	$ 65,169,836

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (22,255,671)	$ (11,272,630)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	61,415	58,084
Stock-based compensation	1,834,418	267,605
Foreign exchange loss, net	1,481,884	274,192
Loss on remeasurement of assets classified as held for sale	376,000	25,605
Accretion of asset retirement obligations	499,804	429,597
Checkerboard fee	5,950,000	0
Interest expense	93,532	0
Changes in operating assets and liabilities:
Trade and other receivables	2,318	(3,167,448)
Prepaid expenses and other assets	679,778	(239,942)
Accounts payable and accrued expenses	2,361,130	2,969,442
Other non-current liabilities	13,598	166,182
Net cash used in operating activities	(8,901,794)	(10,489,313)
Cash flows from investing activities:
Payments for property, plant and equipment	(196,722)	0
Payments for exploration and evaluation	(42,090,373)	(27,036,860)
Payments for assets under construction	(6,603,096)	0
Proceeds from sale of assets held for sale	7,990,000	444,568
Payments for assets under construction	(1,073,889)	(387,045)
Proceeds from government grants for exploration	6,168,698	0
Net cash used in investing activities	(35,805,382)	(26,979,337)
Cash flows from financing activities:
Proceeds from issue of common stock	0	63,811,478
Proceeds from issue of shares under greenshoe option	7,410,000	0
Contributions received from noncontrolling interest holders	30,315,756	6,608,717
Common stock issue transaction costs	(479,150)	(4,457,438)
Payment of performance bond facility establishment fee	(382,564)	0
Repayment of lease liabilities	(5,503,668)	(1,721,511)
Net cash from financing activities	31,360,374	64,241,246
Net (decrease) increase in cash and cash equivalents and restricted cash	(13,346,802)	26,772,596
Cash and cash equivalents and restricted cash at the beginning of period	74,745,897	7,056,136
Effects of exchange rate changes on cash and cash equivalents	(1,956,688)	(661,738)
Cash and cash equivalents and restricted cash at the end of period	59,442,407	33,166,994
Non-cash investing and financing activities:
Accrued capital expenditure	5,845,825	4,035,841
Asset retirement obligations	(444,827)	(72,433)
Stock-based compensation	(2,756,624)	(267,605)
Contribution receivable from noncontrolling interest holders	3,285,517	4,351,687
Operating lease right-of-use assets and lease liabilities	(128,228)	(774,467)
Interest accrued on finance lease liabilities	(414,617)	(1,191,036)
Finance lease right-of-use assets and lease liabilities	0	(25,812,769)
Non-cash finance lease costs capitalized to unproved properties	$ 5,480,046	$ 7,603,229

Business and Basis of Preparati

Business and Basis of Preparation	6 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Preparation	Note 1 – Business and Basis of Preparation General Tamboran Resources Corporation (the “Company” or “Tamboran” and together with its consolidated subsidiaries, the “Group”) is an early-stage growth-oriented natural gas company with a vision of supporting the net zero CO 2 energy transition in Australia and Asia-Pacific through developing low CO 2 unconventional gas resources in the Northern Territory (“NT”) of Australia . The Group is in the exploration and appraisal stage with a current focus on exploiting its primary assets, which are rights to working interests (“Tenements”) in exploration acreage in the Beetaloo sub-basin (“Beetaloo” or “Beetaloo Basin”), NT Australia. To date, the Group has not determined whether the Tenements contain any natural gas reserves that are economically recoverable. Further, the Group had no revenues from its gas operations as of December 31, 2024 . Going Concern and Management’s Liquidity Plan The accompanying condensed consolidated financial statements have been prepared on the basis that the Group will continue as a going concern which contemplates the realization of assets and the satisfaction of liabilities in the ordinary and usual course of business. As of December 31, 2024 , the Group had: • not generated revenues since inception, and is unlikely to generate earnings in the immediate or foreseeable future; • a working capital surplus o f $29,263,617 , arising from proceeds of our Initial Public Offering (“IPO”), the rig 403 sale proceeds and the refund for 2023 Research and Development ( “ R&D ” ) tax credit; • an accumulated deficit of $150,441,291 since inception; and • significant expenditures planned for the unproved properties in the next 12 months. These factors raise substantial doubt regarding the Group’s ability to continue as a going concern for the 12 months following the date these condensed consolidated financial statements were available for issuance. The continuation of the Group as a going concern is dependent upon the ability of the Group to obtain necessary additional capital to fund ongoing exploration, appraisal and development projects and/or obtain gas producing properties to attain future profitable operations. No assurance can be given that the Group will be successful in these efforts in the future. Management has several plans in various stages of progress to source additional funding to provide operating capital for the continued growth of the Group. As a result, these condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded assets and liabilities that might be necessary should the Group be unable to continue as a going concern. Basis of Presentation of Condensed Consolidated Financial Statements The accompanying condensed consolidated financial statements have been prepared in conformity with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) and rules and regulations of the Securities and Exchange Commission (“SEC”) applicable to interim financial statements. Pursuant to such rules and regulations, certain disclosures and information required by U.S. GAAP for complete consolidated financial statements have been condensed or omitted. The accompanying condensed consolidated financial statements and notes therein should be read in conjunction with the financial statements and notes included in our consolidated financial statements for the year ended June 30, 2024 (“Group’s Annual Financial Statements”). These condensed consolidated financial statements reflect all adjustments, in the opinion of management, which include normal and recurring adjustments necessary to fairly state the Group’s consolidated financial position, results of operations, and cash flows for the periods presented herein. The interim results are not necessarily indicative of results for any other future annual or interim period. The June 30, 2024 condensed consolidated balance sheet was derived from the audited Group’s Annual Financial Statements but does not include all disclosures required by U.S. GAAP for annual financial statements. Significant Judgments and Accounting Estimates The preparation of these condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts of assets and liabilities, revenue and expenses and related disclosures of contingent assets and liabilities reported in the condensed consolidated financial statements and the accompanying notes. There have been no significant changes to the Group’s accounting estimates from those disclosed in the Group’s Annual Financial Statements. Significant Accounting Policies The Group’s significant accounting policies are described in the notes to the consolidated financial statements for the year ended June 30, 2024 , included in the Group’s Annual Financial Statements. There have been no significant changes in accounting policies during the six months ended December 31, 2024 . Foreign Currency Translation These condensed consolidated financial statements are presented in US dollars (“$” or “dollars”) and the functional currency of the Group is the Australian Dollar (“A$”). Adjustments resulting from the translation of functional currency financial statements to reporting currency are accumulated and reported as a part of “Accumulated Other Comprehensive Loss”, a separate component of stockholders’ equity. Foreign Currency Transactions Foreign currency transactions are translated into the Company’s functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the condensed consolidated statements of operations and comprehensive loss. Leases As a Lessee The Group accounts for leases under ASC 842, Leases (“ASC 842”). The Group determines if an arrangement is a lease at inception of the arrangement and if such lease will be classified as an operating lease or a finance lease. The Group’s leases represent its right to use an underlying asset for the lease term. Right-of-use (“ROU”) assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As the Group’s leases do not provide an implicit rate, the Group used a proxy for its incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. The Group has elected to account for lease and non-lease components in its contracts as a single lease component for all asset classes except for office premises. Operating leases are included in “Operating lease right-of-use assets” within the Group’s condensed consolidated balance sheet. The Group’s related obligation to make lease payments are included in “Current portion of operating lease obligations” and “Operating lease obligations” within the Group’s condensed consolidated balance sheet. Operating lease expense for lease payments is recognized on a straight-line basis over the lease term. Finance leases are included in “Finance lease right-of-use assets” within the Group’s condensed consolidated balance sheet. The Group’s related obligation to make lease payments are included in “Current portion of finance lease obligations” and “Finance lease obligations” within the Group’s condensed consolidated balance sheet. Finance lease expense includes amortization of the ROU assets and interest on lease liabilities. The Group capitalizes the finance lease expense as a part of unproved properties when the leased asset is directly involved in the drilling of wells (i.e. the finance lease expense is a direct cost of drilling wells). Leases with a lease term of 12 months or less are not recorded on the condensed consolidated balance sheet and are recognized as lease expense on a straight-line basis over the lease term. When it is reasonably certain the Group will exercise an option to extend the short-term lease beyond 12 months, the cost will be capitalized. As a Lessor Sublease income is recognized on a straight-line basis over the term of the sublease agreement and is recorded within “Other expenses, net” in the condensed consolidated statements of operations and comprehensive loss. Natural Gas Properties The Group’s operations are in the exploration and appraisal stage and has not yet realized any revenues from operations. The Group holds a number of exploration permits that are grouped into areas of interest according to geographical and geological attributes. Expenditure incurred in each area of interest is accounted for using the successful efforts method, as defined within ASC 932, Extractive Activities – Oil and Gas . Under this method, all general exploration and evaluation costs such as geological and geophysical costs are expensed as incurred. The direct costs of acquiring the rights to explore, drilling exploratory wells, and evaluating the results of drilling are capitalized as exploration and evaluation assets (as a part of unproved properties) pending the determination of the results of the well. If a well does not result in hydrocarbons being present, the previously capitalized costs are immediately expensed. Deferred Debt Issuance Costs The Group presents unamortized deferred debt issuance costs related to the establishment of a Performance Bond Facility Agreement (the “Facility Agreement”) as a component of “Prepaid expenses and other non-current assets” on its consolidated balance sheets because the outstanding balance under this Facility Agreement may fluctuate as the Group borrows and repays the relevant amounts. The Group amortizes the deferred debt issuance costs over the remaining term of the Facility on a straight-line basis which is reported within “interest income, net” in the condensed consolidated statements of operations and comprehensive loss. Recently Issued Accounting Standards In November 2024, the Financial Accounting Standards Board (“FASB”) issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (“ASU 2024-03”), which requires public business entities to provide detailed disclosures in the notes to financial statements disaggregating specific expense categories, including employee compensation, depreciation, and intangible asset amortization, as well as certain other disclosures to provide enhanced transparency into the nature and function of expenses on an interim and annual basis. The new standard is effective for annual periods beginning after December 15, 2026, with early adoption permitted. The Group is currently evaluating ASU 2024-03 and the impact it may have on the Group's consolidated financial statements.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Note 2 – Variable Interest Entities TB1 Tamboran (B1) Pty Ltd (“TB1”) is a 50/50 joint venture between the Company, through its wholly owned subsidiary Tamboran (West) Pty Ltd (“TR West”), and Daly Waters Energy, LP (“DWE”) governed by the terms of an amended and restated joint venture and shareholders agreement dated June 3, 2024 (the “TB1 Joint Venture Agreement”). In determining the primary beneficiary of TB1, the Company considered those activities which most significantly impact the economic performance of TB1, include, for example, which entity serves as the manager, determination of the strategy and direction of TB1, and the power to create a budget. The Group is the sole manager of TB1, responsible for managing the day-to-day operations of TB1. The Group, as manager, also prepares the work plans and budget of TB1. As such the Group has the power to direct those activities which most significantly impact TB1’s economic performance and therefore is the primary beneficiary of TB1. As a result, the results of TB1 have been included in the accompanying condensed consolidated financial statements. TB1 has no assets that are collateral for or restricted solely to settle its obligations. The creditors of TB1 do not have recourse to the Group’s general credit. The Group also assessed which party to the TB1 Joint Venture Agreement has the obligation to absorb losses or the right to receive the benefits of the VIE that could potentially be significant to the VIE. The future profits and losses of TB1 are shared by the Group and DWE in proportion to their respective equity interest in TB1, however, to date the Group has contributed a greater proportion of the capital and has no ability to recoup any of the excess funding the Group has made to TB1 from DWE and therefore has a greater exposure to absorb losses. In 2022 Tamboran Resources Pty Ltd (formerly known as Tamboran Resources Limited) (“TR Ltd.”), a wholly owned subsidiary of the Company, made a loan to TR West for purposes of funding TR West’s acquisition of its interest in TB1. On November 9, 2022 , TB1 completed the acquisition of a 77.5% share of Beetaloo Basin assets, EP 76, EP 98, and EP 117. The Company and DWE each beneficially own a 38.75% interest in the permits for the total undivided interest of 77.5% . Falcon Oil and Gas Australia limited (“Falcon”) holds the remaining undivided interest of 22.5% in the assets (collectively known as the “Beetaloo Joint Venture”). On March 4, 2024 , Falcon, the owner of the remaining 22.5% interest in the Beetaloo Joint Venture assets, capped its participation to 5% in the Beetaloo Joint Venture’s second Shenandoah South well pad (“SS2”). On March 21, 2024 , Tamboran B2 Pty Ltd (“TB1 Operator”) (a wholly owned subsidiary of TB1 in which the Company has a 50% interest) agreed to acquire Falcon’s interest, increasing TB1 Operator’s working interest to at least 95% in the wells drilled from the SS2 well pad. Pursuant to the TB1 Joint Venture Agreement, the parties are required to implement an approach to dividing the permits whereby Tamboran and DWE pursue a division of TB1 Operator’s interest in the permits such that the title and ownership of the permits will be split evenly between Tamboran and DWE in the specific area in terms of equity interest and number of operated blocks ( “ Checkerboard Strategy ” ). The TB1 Joint Venture Agreement provided that if the Checkerboard Strategy is not implemented by December 31, 2024, due to either: • the failure to obtain the requisite ministerial approval to effectuate the Checkerboard Strategy; or • a New Area Joint Venture is not approved by the parties to the Joint Operating Agreement (“JOA”) with respect to joint operations of the subject areas, then, by February 15, 2025, then, the Company must either: ◦ pay DWE a cash amount of $7,500,000 ; or ◦ issue CHESS Depository Interests (“CDIs”) to DWE with a value of $15,000,000 , based on the volume weighted average price of CDIs traded on the Australian Stock Exchange (“ASX”) at the time during the 30 days on which sales in CDIs were recorded prior to December 31, 2024. At the time of the IPO, DWE agreed to waive the $7,500,000 payment obligation in respect of the Checkerboard Strategy in exchange for Tamboran’s issue to DWE, or its nominee, of 312,500 shares of common stock (calculated based on the obligation of $7,500,000 divided by the common stock price at the IPO of $24.00 per share), subject to shareholders' approval (Refer Note 7), which was granted in November 2024. The obligation to implement the Checkerboard Strategy does not cease with this issuance of shares. The following table summarizes the carrying amounts of TB1’s assets and liabilities included in the Group’s condensed consolidated balance sheet as of December 31, 2024 and June 30, 2024 : December 31, 2024 June 30, 2024 ASSETS Current assets Cash and cash equivalents $ 11,230,191 $ 1,488,541 Trade and other receivables: Joint interest billing 3,565,181 10,298,322 Intercompany receivable 4,359,082 7,415,684 ATO receivable 2,072,833 615,480 Other receivable 2,463 — Prepaid expenses and other current assets 1,129,675 1,476,094 Total current assets 22,359,425 21,294,121 Natural gas properties, successful efforts method: Unproved properties 210,864,387 167,998,061 Assets under construction - natural gas equipment 11,850,337 7,542,064 Finance lease right-of-use assets 15,632,023 20,697,452 Prepaid expenses and other non-current assets 949,247 385,215 Total non-current assets 239,295,994 196,622,792 TOTAL ASSETS $ 261,655,419 $ 217,916,913 LIABILITIES Current liabilities Accounts payable and accrued expenses $ 17,518,868 $ 10,569,865 Current portion of finance lease obligations 15,205,744 12,767,400 Total current liabilities 32,724,612 23,337,265 Finance lease obligations 6,618,699 14,141,713 Asset retirement obligations 4,575,103 4,174,178 Loan from Tamboran 139,047,677 113,096,572 Total non-current liabilities 150,241,479 131,412,463 TOTAL LIABILITIES $ 182,966,091 $ 154,749,728 SPCF In October 2024, the Company, through its wholly owned subsidiary Tamboran SPCF Pty Ltd (“TR SPCF”), entered into a Unit Holders and Shareholders Deed with Daly Waters Infrastructure, LP (“DWI”) for the establishment of a trust to be owned 50% / 50% by the Company and DWI to own the Sturt Plateau Compression Facility (“SPCF”). The units within the holding trust structure were issued in October, establishing the entity, however, the SPCF assets, currently held by TB1, have not been transferred as of December 31, 2024. The transfer of the assets is underway and is expected to be completed in the third quarter

Property, Plant and Equipment_&

Property, Plant and Equipment & Natural Gas Properties	6 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment & Natural Gas Properties	Note 3 – Property, Plant and Equipment & Natural Gas Properties Natural Gas Properties The Group held unproved natural gas properties as of December 31, 2024 and June 30, 2024 , amounting to $264,156,414 and $230,119,448 , respectively. These amounts reflect the Group’s exploration and evaluation projects, which are pending the determination of proven and probable reserves and were not being depleted for the six months ended December 31, 2024 , and 2023 . These assets will be reclassified to proven gas properties upon commencement of production and then subsequently depleted. In October 2024 , the Group lodged an amended income tax return for the year ended June 30, 2023 claiming eligible R&D expenditure for EP 136, which resulted in a cash refund of $6,168,698 in December 2024 . During the six months ended December 31, 2024 and December 31, 2023 , the Group recognized no impairment related to unproved natural gas properties. Natural gas properties EP 161 EP 136 EP 76, 98 and 117 Total Balance at July 1, 2024 $ 23,744,221 $ 51,035,326 $ 155,339,901 $ 230,119,448 Capital expenditure 780,079 393,707 49,202,640 50,376,426 Restoration assets — — 444,827 444,827 Interest on finance lease liability and related depreciation of ROU assets capitalized — — 6,553,935 6,553,935 Government grant — (6,168,698) — (6,168,698) Effect of changes in foreign exchange rates (1,606,874) (3,285,570) (12,277,080) (17,169,524) Balance at December 31, 2024 $ 22,917,426 $ 41,974,765 $ 199,264,223 $ 264,156,414 Property, Plant and Equipment The Group held property, plant and equipment, including leasehold improvements, as of December 31, 2024 and June 30, 2024 , amounting to $222,898 and $102,244 , respectively. Assets Under Construction In April 2024, the Group began to execute agreements for long lead items required for the SPCF in the Beetaloo Basin. These items included essential plant components comprising of a compressor and dehydration unit that would convert future raw gas to meet sales gas quality, subject to the terms of definitive development agreements. During the six months ended December 31, 2024 , the Group completed detailed design of the SPCF and received approval of the Environmental Management Plan (EMP). The Group held total assets under construction related to the SPCF as of December 31, 2024 and June 30, 2024 of $11,850,337 and $7,542,064 respectively. The 40 TJ/d ( 39 MMcf/d) SPCF is expected to be connected to the Amadeus Gas Pipeline (“AGP”) via the construction of the 35 -kilometer Sturt Plateau Pipeline (“SPP”) subject to achieving project milestones. Assets Classified as Held for Sale In October 2024 , the Group completed the disposal of rig 403 at a price of $8,500,000 , on which the Group paid a sales commission of 6% . During the six months ended December 31, 2024 , the Group recognized a loss on assets held for sale of $376,000 to r educe the asset to the lower of its carrying amount and the fair value less costs to sell (determined based on the sales price above). No gain or loss was recognized on the sale of the rig during the three months ended December 31, 2024 as it had already been reduced to the fair value less costs to sell in the prior quarter. No other assets remain held for sale as of December 31, 2024.

Leases

Leases	6 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Note 4 – Leases As a Lessee The Group’s operating lease activities consist of leases for office premises. Commencing July 1, 2024 , the Group entered into a new lease agreement with Drecom Pty Ltd ATF English Family Trust for their office premises in Darwin, Australia. The term of the lease is three years , with an option to further renew the lease for two years . On October 1, 2023 , the Group entered into a new lease agreement with Lendlease IMT (OITST ST) Pty Ltd for their office premises in Barangaroo, Australia. The term of the lease is four years , with no option to renew. On September 9, 2022 , Sweetpea Petroleum Pty Ltd (“Sweetpea”), a wholly owned subsidiary of Tamboran, entered into a drilling contract with Helmerich & Payne International Holdings LLC (“H&P”) for H&P to assist the Group in carrying out its onshore drilling operations in Australia. The drilling contract grants Tamboran the right to use the drilling rig from H&P over the non-cancellable contract term of 25 months starting from July 1, 2023. Under the terms of the agreement, the Group has the right to place the drilling rig on a temporary suspension rate between wells for a period up to 270 days (the “Gap Period”). For each day of the Gap Period consumed, additional days are added to the fixed minimum term. As of December 31, 2024 , the end date of the drilling contract for the current rig is mid-July 2026. The drilling contract is recognized as a finance lease under ASC 842 (“H&P Rig Lease”). The present value of the minimum future obligations was calculated based on an interest rate of 13.5% p.a., which was recognized in finance lease liabilities in the condensed consolidated balance sheet. The following table presents the classification and location of the Group’s leases on the condensed consolidated balance sheets: December 31, 2024 June 30, 2024 Right-of-use assets: Operating lease right-of-use assets $ 833,824 $ 962,052 Finance lease right-of-use assets 15,632,023 20,697,452 16,465,847 21,659,504 Lease liabilities: Current portion of operating lease obligations 279,401 397,999 Non-current portion of operating lease obligations 573,239 587,250 Current portion of finance lease obligations 15,205,744 12,767,400 Non-current portion of finance lease obligations 6,618,699 14,141,713 $ 22,677,083 $ 27,894,362 For the three months and six months ended December 31, 2024 , and 2023 , the components of the lease costs were as follows: Three months ended December 31, Six months ended December 31, 2024 2023 2024 2023 Operating leases: Operating lease cost charged to profit and loss $ 130,028 $ 141,471 $ 287,174 $ 211,985 Finance leases: Interest on lease liabilities 692,582 762,171 1,488,506 1,578,081 Depreciation on right-of-use assets 2,532,714 2,927,616 5,065,429 6,025,148 Total finance lease cost 3,225,296 3,689,787 6,553,935 7,603,229 Less: Lease cost capitalized to unproved properties (3,225,296) (3,689,787) (6,553,935) (7,603,229) Finance lease cost charged to profit and loss $ — $ — $ — $ — The following table presents the cash flow information related to lease payments for the six months ended December 31, 2024 , and 2023 : Six months ended December 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 287,174 $ 211,985 Financing cash flows for finance leases 5,503,668 1,721,511 $ 5,790,842 $ 1,933,496 The following table presents supplemental information for the Group’s non-cancellable leases for the six months ended December 31, 2024 , and 2023 : Six months ended December 31, 2024 2023 Operating leases: Weighted-average remaining lease term 2.91 3.02 Weighted-average incremental borrowing rate 11.50% 9.91% Finance leases: Weighted-average remaining lease term 1.58 1.83 Weighted-average incremental borrowing rate 13.45% 13.45% As of December 31, 2024 , the Group’s undiscounted minimum cash payment obligations for its lease liabilities are as follows: As at December 31, 2024 Operating leases Finance leases Fiscal year ending June 30, 2025 (excluding six months period from July 1, 2024 to December 31, 2024) $ 203,783 $ 8,775,073 Fiscal year ending June 30, 2026 320,503 14,417,500 Fiscal year ending June 30, 2027 330,808 632,000 Thereafter 159,538 — Total lease payments 1,014,632 23,824,573 Less: Imputed interest (161,992) (2,000,130) Present value of lease liabilities 1 $ 852,640 $ 21,824,443 1 Includes both current and long-term portion of the lease liabilities. As a Lessor On October 15, 2023, the Group entered into an agreement with a third party to sublease its former office premises in Manly, Australia. The commencement date of the sublease was October 1, 2023 , with a lease term of 17 months . Sublease income for the three months and six months ended December 31, 2024 , was $92,669 and $174,306 , respectively, and is included within “Other expenses, net” on the Group’s condensed consolidated statements of operations and comprehensive loss. There have been no indications of impairment related to the underlying right-of-use asset.
Leases	Note 4 – Leases As a Lessee The Group’s operating lease activities consist of leases for office premises. Commencing July 1, 2024 , the Group entered into a new lease agreement with Drecom Pty Ltd ATF English Family Trust for their office premises in Darwin, Australia. The term of the lease is three years , with an option to further renew the lease for two years . On October 1, 2023 , the Group entered into a new lease agreement with Lendlease IMT (OITST ST) Pty Ltd for their office premises in Barangaroo, Australia. The term of the lease is four years , with no option to renew. On September 9, 2022 , Sweetpea Petroleum Pty Ltd (“Sweetpea”), a wholly owned subsidiary of Tamboran, entered into a drilling contract with Helmerich & Payne International Holdings LLC (“H&P”) for H&P to assist the Group in carrying out its onshore drilling operations in Australia. The drilling contract grants Tamboran the right to use the drilling rig from H&P over the non-cancellable contract term of 25 months starting from July 1, 2023. Under the terms of the agreement, the Group has the right to place the drilling rig on a temporary suspension rate between wells for a period up to 270 days (the “Gap Period”). For each day of the Gap Period consumed, additional days are added to the fixed minimum term. As of December 31, 2024 , the end date of the drilling contract for the current rig is mid-July 2026. The drilling contract is recognized as a finance lease under ASC 842 (“H&P Rig Lease”). The present value of the minimum future obligations was calculated based on an interest rate of 13.5% p.a., which was recognized in finance lease liabilities in the condensed consolidated balance sheet. The following table presents the classification and location of the Group’s leases on the condensed consolidated balance sheets: December 31, 2024 June 30, 2024 Right-of-use assets: Operating lease right-of-use assets $ 833,824 $ 962,052 Finance lease right-of-use assets 15,632,023 20,697,452 16,465,847 21,659,504 Lease liabilities: Current portion of operating lease obligations 279,401 397,999 Non-current portion of operating lease obligations 573,239 587,250 Current portion of finance lease obligations 15,205,744 12,767,400 Non-current portion of finance lease obligations 6,618,699 14,141,713 $ 22,677,083 $ 27,894,362 For the three months and six months ended December 31, 2024 , and 2023 , the components of the lease costs were as follows: Three months ended December 31, Six months ended December 31, 2024 2023 2024 2023 Operating leases: Operating lease cost charged to profit and loss $ 130,028 $ 141,471 $ 287,174 $ 211,985 Finance leases: Interest on lease liabilities 692,582 762,171 1,488,506 1,578,081 Depreciation on right-of-use assets 2,532,714 2,927,616 5,065,429 6,025,148 Total finance lease cost 3,225,296 3,689,787 6,553,935 7,603,229 Less: Lease cost capitalized to unproved properties (3,225,296) (3,689,787) (6,553,935) (7,603,229) Finance lease cost charged to profit and loss $ — $ — $ — $ — The following table presents the cash flow information related to lease payments for the six months ended December 31, 2024 , and 2023 : Six months ended December 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 287,174 $ 211,985 Financing cash flows for finance leases 5,503,668 1,721,511 $ 5,790,842 $ 1,933,496 The following table presents supplemental information for the Group’s non-cancellable leases for the six months ended December 31, 2024 , and 2023 : Six months ended December 31, 2024 2023 Operating leases: Weighted-average remaining lease term 2.91 3.02 Weighted-average incremental borrowing rate 11.50% 9.91% Finance leases: Weighted-average remaining lease term 1.58 1.83 Weighted-average incremental borrowing rate 13.45% 13.45% As of December 31, 2024 , the Group’s undiscounted minimum cash payment obligations for its lease liabilities are as follows: As at December 31, 2024 Operating leases Finance leases Fiscal year ending June 30, 2025 (excluding six months period from July 1, 2024 to December 31, 2024) $ 203,783 $ 8,775,073 Fiscal year ending June 30, 2026 320,503 14,417,500 Fiscal year ending June 30, 2027 330,808 632,000 Thereafter 159,538 — Total lease payments 1,014,632 23,824,573 Less: Imputed interest (161,992) (2,000,130) Present value of lease liabilities 1 $ 852,640 $ 21,824,443 1 Includes both current and long-term portion of the lease liabilities. As a Lessor On October 15, 2023, the Group entered into an agreement with a third party to sublease its former office premises in Manly, Australia. The commencement date of the sublease was October 1, 2023 , with a lease term of 17 months . Sublease income for the three months and six months ended December 31, 2024 , was $92,669 and $174,306 , respectively, and is included within “Other expenses, net” on the Group’s condensed consolidated statements of operations and comprehensive loss. There have been no indications of impairment related to the underlying right-of-use asset.
Leases	Note 4 – Leases As a Lessee The Group’s operating lease activities consist of leases for office premises. Commencing July 1, 2024 , the Group entered into a new lease agreement with Drecom Pty Ltd ATF English Family Trust for their office premises in Darwin, Australia. The term of the lease is three years , with an option to further renew the lease for two years . On October 1, 2023 , the Group entered into a new lease agreement with Lendlease IMT (OITST ST) Pty Ltd for their office premises in Barangaroo, Australia. The term of the lease is four years , with no option to renew. On September 9, 2022 , Sweetpea Petroleum Pty Ltd (“Sweetpea”), a wholly owned subsidiary of Tamboran, entered into a drilling contract with Helmerich & Payne International Holdings LLC (“H&P”) for H&P to assist the Group in carrying out its onshore drilling operations in Australia. The drilling contract grants Tamboran the right to use the drilling rig from H&P over the non-cancellable contract term of 25 months starting from July 1, 2023. Under the terms of the agreement, the Group has the right to place the drilling rig on a temporary suspension rate between wells for a period up to 270 days (the “Gap Period”). For each day of the Gap Period consumed, additional days are added to the fixed minimum term. As of December 31, 2024 , the end date of the drilling contract for the current rig is mid-July 2026. The drilling contract is recognized as a finance lease under ASC 842 (“H&P Rig Lease”). The present value of the minimum future obligations was calculated based on an interest rate of 13.5% p.a., which was recognized in finance lease liabilities in the condensed consolidated balance sheet. The following table presents the classification and location of the Group’s leases on the condensed consolidated balance sheets: December 31, 2024 June 30, 2024 Right-of-use assets: Operating lease right-of-use assets $ 833,824 $ 962,052 Finance lease right-of-use assets 15,632,023 20,697,452 16,465,847 21,659,504 Lease liabilities: Current portion of operating lease obligations 279,401 397,999 Non-current portion of operating lease obligations 573,239 587,250 Current portion of finance lease obligations 15,205,744 12,767,400 Non-current portion of finance lease obligations 6,618,699 14,141,713 $ 22,677,083 $ 27,894,362 For the three months and six months ended December 31, 2024 , and 2023 , the components of the lease costs were as follows: Three months ended December 31, Six months ended December 31, 2024 2023 2024 2023 Operating leases: Operating lease cost charged to profit and loss $ 130,028 $ 141,471 $ 287,174 $ 211,985 Finance leases: Interest on lease liabilities 692,582 762,171 1,488,506 1,578,081 Depreciation on right-of-use assets 2,532,714 2,927,616 5,065,429 6,025,148 Total finance lease cost 3,225,296 3,689,787 6,553,935 7,603,229 Less: Lease cost capitalized to unproved properties (3,225,296) (3,689,787) (6,553,935) (7,603,229) Finance lease cost charged to profit and loss $ — $ — $ — $ — The following table presents the cash flow information related to lease payments for the six months ended December 31, 2024 , and 2023 : Six months ended December 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 287,174 $ 211,985 Financing cash flows for finance leases 5,503,668 1,721,511 $ 5,790,842 $ 1,933,496 The following table presents supplemental information for the Group’s non-cancellable leases for the six months ended December 31, 2024 , and 2023 : Six months ended December 31, 2024 2023 Operating leases: Weighted-average remaining lease term 2.91 3.02 Weighted-average incremental borrowing rate 11.50% 9.91% Finance leases: Weighted-average remaining lease term 1.58 1.83 Weighted-average incremental borrowing rate 13.45% 13.45% As of December 31, 2024 , the Group’s undiscounted minimum cash payment obligations for its lease liabilities are as follows: As at December 31, 2024 Operating leases Finance leases Fiscal year ending June 30, 2025 (excluding six months period from July 1, 2024 to December 31, 2024) $ 203,783 $ 8,775,073 Fiscal year ending June 30, 2026 320,503 14,417,500 Fiscal year ending June 30, 2027 330,808 632,000 Thereafter 159,538 — Total lease payments 1,014,632 23,824,573 Less: Imputed interest (161,992) (2,000,130) Present value of lease liabilities 1 $ 852,640 $ 21,824,443 1 Includes both current and long-term portion of the lease liabilities. As a Lessor On October 15, 2023, the Group entered into an agreement with a third party to sublease its former office premises in Manly, Australia. The commencement date of the sublease was October 1, 2023 , with a lease term of 17 months . Sublease income for the three months and six months ended December 31, 2024 , was $92,669 and $174,306 , respectively, and is included within “Other expenses, net” on the Group’s condensed consolidated statements of operations and comprehensive loss. There have been no indications of impairment related to the underlying right-of-use asset.

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	6 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Note 5 – Accounts Payable and Accrued Expenses Accounts payable and accrued expenses included in current liabilities consist of the following: December 31, 2024 June 30, 2024 Accounts payable $ 11,242,126 $ 6,619,320 Accrued payroll 755,943 13,216 Compensated absences 737,818 668,825 Defined contribution superannuation payable — 8,164 Accrued capital expenditure 9,537,516 4,318,703 Accrued expenses 292,102 3,204,371 Total accounts payable and accrued expenses $ 22,565,505 $ 14,832,599

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Note 6 – Asset Retirement Obligations The Group recognizes the liability for an asset retirement obligation at their estimated fair value in the period in which the obligation originates. Fair value is estimated using the present value technique (level 2) based on a number of observable inputs including estimates and assumptions such as future retirement costs, future inflation rates and the Group’s credit-adjusted risk-free interest rate. The Group capitalized the present value of the estimated asset retirement obligations as a part of the carrying amount of the related natural gas properties. The liability has been accreted to its present value for six months ended December 31, 2024 . The reconciliation o f changes in asset retirement obligations for the six months ended December 31, 2024 , is as follows: Six months ended December 31, 2024 Beginning asset retirement obligations $ 8,140,992 Liabilities incurred 444,827 Accretion expense 499,804 Effect of changes in foreign exchange rates (561,791) Long-term asset retirement obligations $ 8,523,832

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Stockholders’ Equity	Note 7 – Stockholders’ Equity Movement in Common Stock Date Tamboran common stock Fair Market Value at time of Issuance Details Net proceeds Balance at July 1, 2024 13,915,524 $ 396,924,177 Capital raise July 2024 308,750 $ 24.00 $ 7,410,000 Issuance of common stock as checkerboard fee November 2024 312,500 $ 19.04 $ 5,950,000 Less: Transaction costs — $ (479,150) 12,880,850 Balance at December 31, 2024 14,536,774 $ 409,805,027 July 2024 Greenshoe Option Subsequent to the IPO in June 2024, the underwriters exercised the greenshoe option granted to them to purchase additional shares of common stock of the Company. Under this option, underwriters purchased a total of 308,750 shares of common stock of the Company on July 30, 2024 . The net proceeds from the IPO and from the issuance under the greenshoe option will be used for natural gas exploration and appraisal activities, progressing the Group’s three phases of development and other general corporate purposes. Novemb er 2024 At the time of the IPO, DWE agreed to waive the $7,500,000 payment obligation in respect of the Checkerboard Strategy provided that Tamboran issue to DWE, or its nominee, 312,500 shares of common stock. The number of shares to be issued to satisfy the obligation was calculated as $7,500,000 divided by the IPO share price of $24.00 . The issuance of these shares in satisfaction of the obligation was subject to shareholder approval. S hareholder approval took place at the Annual General Meeting on November 4, 2024 which was determined to be the grant date for the purpose of valuing the common stock. From the time of the IPO in June 2024 to shareholder approval in November 2024, the fair market value of the shares decreased from $24.00 to $19.04 , while the number of shares to be issued remained the same. The issuance of these shares completed the satisfaction of the above obligation in respect of the Checkerboard Strategy (the “Checkerboard fee”) (Refer Note 2).

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 8 – Stock-Based Compensation Milestone Options During the six months ended December 31, 2024 , t he Group did not grant any new milestone options to its employees and no milestone options were forfeited. The Company accelerated the recognition of the remaining expense for milestone options during the six months ended December 31, 2024 . The Group recognized $138,996 (inclusive of accelerated expense) and $267,605 , as stock- based compensation expense related to milestone options for the six months ended December 31, 2024 , and December 31, 2023 , respectively. No expense was recognized for the three months ended December 31, 2024 . In November 2023, 3,000,000 milestone options were forfeited due to a leaver, resulting in the reversal of previously incurred expense during the three months ended December 31, 2023 . This resulted in no expense for milestone options during six months ended December 31, 2023 . Restricted Stock Units On August 6, 2024, the Group adopted the 2024 Incentive Award Plan (the “ 2024 Plan ” ). As of December 31, 2024 , the maximum number of shares of common stock that may be issued under the 2024 Plan was 1,600,000 shares. The 2024 Plan , allows, among other things, for the grant of Restricted Stock Units ( “ RSUs ” ). On August 6, 2024, the Group issued RSUs to certain eligible service providers, employees and executive officers (the “participants”) to provide them an opportunity to participate in the growth and profits of the Group and to attract, motivate, and retain their services to promote the long-term success of the Group. On August 6, 2024, the Company granted 47,400 Restricted Stock Units (“Retention Awards”) to its employees in Australia and U.S. The Retention Awards granted to Australian employees entitle them to CDIs representing 39,250 shares of common stock (each CDI represents 1/ 200 th of a share of common stock). Similarly, the Retention Awards granted to U.S. employees entitle them to 8,150 shares of common stock. The vesting conditions state that all Retention Awards will vest in full on December 31, 2025, provided the employee remain in service as of the vesting date. The fair value at grant date of the Retention Awards was $21.73 per common stock and $0.109 per CDI. On August 6, 2024, the Company also granted 795,000 Restricted Stock Units (“IPO Awards”) to its employees in Australia and U.S. The IPO Awards granted to Australian employees entitle them to CDIs representing 620,000 shares of common stock. Similarly, the IPO Awards granted to U.S. employees entitle them to 175,000 shares of common stock. The IPO Awards will vest in following three tranches: • Tranche 1 – 397,500 IPO Awards granted to Australian and U.S. employees will vest in full on July 3, 2027, provided the employee remains in service as of the vesting date. The fair value at grant date of Tranche 1 was $21.73 per common stock and $0.109 per CDI. • Tranche 2 – 98,750 IPO Awards granted to Australian and U.S. employees will vest subject to the completion of the Group’s Phase 1 Development Plan to establish first production of the Shenandoah South Pilot Project and establish first production of 40 TJ/d measured by completion of the milestones (“Vesting Trigger Conditions”). Full vesting of Tranche 2 may occur at any time between July 3, 2027, and July 3, 2029, should the Vesting Trigger Conditions be satisfied, or unless otherwise determined by the Board of the Company. The fair value at grant date of Tranche 2 was $21.73 per common stock and $0.109 per CDI. • Tranche 3 – 298,750 IPO Awards granted to Australian and U.S. employees will vest subject to the Company’s Total Shareholder Return (“TSR”) reaching or exceeding the 75th percentile of the Benchmark Index TSR between July 3, 2027, and July 3, 2029. TSR will be measured against the S&P SmallCap 600 Energy (or any other market index determined by the Board in their sole discretion) (“Benchmark Index”) over the same performance measurement period. The fair value at grant date of Tranche 3 was $19.64 per common stock and $0.098 per CDI. The grant date fair value of the Tranche 3 RSUs were determined through the use of the Monte Carlo simulation method. This method requires the use of subjective assumptions such as the price and the expected volatility of the Company’s common stock and its self-determined peer group companies’ stock, risk free rate of return, and cross- correlations between the Company and its peer group companies. Expected volatilities for the Company and each peer company utilized in the model are estimated using a historical period consistent with the awards’ remaining performance period as of the grant date. The risk-free interest rate is based on the yield on U.S. Treasury Constant Maturity for a term consistent with the remaining performance period. The valuation model assumes dividends, if any, are immediately reinvested. The following table summarizes the assumptions used to calculate the grant date fair value of the Tranche 3 RSUs granted on August 6, 2024 : Expected term for performance period (in years) 4.9 Expected volatility 74.6% Risk-free interest rate 3.7% The Retention Awards and IPO Awards entitle the participants to receive the equivalent value (in cash or shares of common stock/CDIs) of dividends paid on shares of common stock and CDIs, respectively. The RSUs are not transferable. There are no participation rights or entitlements inherent in the RSUs and the participants will not be entitled to participate in new issues of capital offered to stockholders or holders of CDIs. If the Company makes a bonus issue of common stock, CDIs, or other securities to existing stockholders or holders of CDIs (other than an issue in lieu or in satisfaction of dividends or by way of dividend reinvestment), the number of shares of common stock or CDIs that must be issued on the exercise of a Retention Award or IPO Award, respectively, will be increased by the number of shares of common stock or CDIs that the participant would have received if the participant had exercised the RSUs before the record date for the bonus issue. The following table presents the stock-based compensation costs recognized related to our RSUs for the three months and six months ended December 31, 2024 : Three months ended December 31, 2024 Stock-Based Compensation Cost Incurred Remaining costs to recognize, if all vesting conditions are met Weighted average remaining contractual term (in years) IPO Awards (Tranche 1) $ 748,273 $ 7,433,931 2.5 IPO Awards (Tranche 2) $ 185,892 $ 1,846,794 2.5 IPO Awards (Tranche 3) $ 508,291 $ 5,049,764 2.5 Retention Awards $ 184,718 $ 732,847 1.0 Total Cost Incurred $ 1,627,174 $ 15,063,336 Total Stock Compensation Costs Capitalized 899,092 Total Stock Compensation Costs Expensed $ 728,082 Total Cost Incurred $ 1,627,174 Six months ended December 31, 2024 Stock-Based Compensation Cost Incurred Remaining costs to recognize, if all vesting conditions are met Weighted average remaining contractual term (in years) IPO Awards (Tranche 1) $ 1,203,744 $ 7,433,931 2.5 IPO Awards (Tranche 2) $ 299,043 $ 1,846,794 2.5 IPO Awards (Tranche 3) $ 817,686 $ 5,049,764 2.5 Retention Awards $ 297,155 $ 732,847 1.0 Total Cost Incurred $ 2,617,628 $ 15,063,336 Total Stock Compensation Costs Capitalized 899,092 Total Stock Compensation Costs Expensed $ 1,718,536 Total Cost Incurred $ 2,617,628

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 9 – Income Taxes The effective tax rates for the three months and six months ended December 31, 2024 , and 2023 were nil . The Group’s effective tax rate differed from the applicable statutory income tax rate due to operating losses incurred for the three months and six months ended December 31, 2024 , and 2023 . The Group has accumulated losses for tax purposes as of December 31, 2024 , in the amount of $301,247,473 which may be carried forward and offset against taxable income in the future for an indefinite period, subject to meeting Australian tax rules around continuity of ownership or business continuity test. As of December 31, 2024 , and June 30, 2024 , the Group did not have any uncertain tax positions.

Loss Per Share

Loss Per Share	6 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Loss Per Share	Note 10 – Loss Per Share Basic net loss per share applicable to common stockholders is computed by dividing earnings applicable to common stockholders by the weighted average number of common shares outstanding. Diluted loss per share assumes the conversion of any convertible securities using the treasury stock method. The computations for basic and diluted loss per share are as follows: Three months ended December 31, Six months ended December 31, 2024 2023 2024 2023 Numerator: Net loss after income tax attributable to Tamboran Resources Corporation stockholders $ (14,166,946) $ (6,026,331) $ (20,061,520) $ (9,216,029) Denominator: Weighted average number of common stock outstanding, basic and diluted 14,346,556 8,735,752 14,236,753 8,612,217 Net loss per share, basic and diluted $ (0.987) $ (0.690) $ (1.409) $ (1.070) The Company’s potentially dilutive shares, which include outstanding milestone options and RSUs, have not been included in the computation of diluted net loss per share for the three months and six months ended December 31, 2024 , and 2023 as the result would be anti-dilutive.

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11 – Commitments and Contingencies F rom time to time, the Group may be subject to various claims, title matters and legal proceedings arising in the ordinary course of business, including environmental contamination claims, personal injury and property damage claims, claims related to joint interest billings and other matters under natural gas operating agreements and other contractual disputes. The Group maintains general liability and other insurance to cover some of these potential liabilities. All known liabilities are fully accrued based on the Group’s best estimate of the potential settlement amount. While the outcome and impact on the Group cannot be predicted with certainty, the Group believes that its ultimate liability with respect to any such matters will not have a significant impact or material adverse effect on its financial positions, results of operations or cash flows. Results of operations and cash flows, however, could be significantly impacted in the reporting periods in which such matters are resolved. Capital Commitments December 31, 2024 June 30, 2024 Committed at the reporting date but not recognized as liabilities, payable: Sweetpea $ 21,860,137 $ 23,283,360 EP 161 2,487,640 2,649,600 Beetaloo Joint Venture 70,400,212 62,642,340 Midstream 1,195,542 1,971,843 Sweetpea Sweetpea’s committed spend as of December 31, 2024 , was $21,860,137 which was related to two licenses, EP 136 with total commitments of $13,215,588 and EP 143 with total commitments of $8,644,549 . A renewal application for EP 136 was submitted to the Department of Mining and Energy (“DME”) (formerly the Department of Industry, Tourism and Trade) in September 2023, and approved in July 2024, granting a five -year extension for the period July 24, 2025 to July 23, 2030 with a minimum work program commitment of $13,215,588 . A variation application for EP 143 was submitted to DME in August 2024, and approved in October 2024. The total minimum work program commitments remain the same at $8,644,549 with activity and associated spend being transferred within the license term. EP 161 For the EP 161 working interest, we are obligated to contribute our share of expenses to uphold our stake in this permit, for which Santos Limited is the operator. Our commitment through March 2026 is expected to be $2,487,640 based on the minimum work requirements. There are no minimum commitment requirements after March 2026. Beetaloo Joint Venture An application was submitted to DME in September 2024 to vary the year 2 and 3 work program, and was approved in November 2024. The terms of the Beetaloo Joint Venture continue to necessitate specific minimum work obligations through May 2028 . These commitments include an expected spend of $70,400,212 related to drilling and multi-stage hydraulic fracturing of four wells, 3D seismic survey, and subsurface studies, with expenditure across EP 76 of $10,121,584 , EP 98 of $49,313,576 and EP 117 of $10,965,052 . Midstream Procurement of the long lead items for the SPCF compressor package and dehydration package were placed in June 2024 with progress payments of $1,195,542 required prior to the end of 2025. Environmental The Group’s operations are subject to risks normally associated with the drilling, completion and production of oil and gas, including blowouts, fires, and environmental risks such as oil spills or gas leaks that could expose the Group to liabilities associated with these risks. In the Group’s acquisition of existing or previously drilled well bores, the Group may not be aware of prior environmental safeguards, if any, that were taken at the time such wells were drilled or during such time the wells were operated. The Group maintains comprehensive insurance coverage that it believes is adequate to mitigate the risk of any adverse financial effects associated with these risks. However, should it be determined that a liability exists with respect to any environmental cleanup or restoration, the liability to cure such a violation could still fall upon the Group. No claim has been made, nor is the Group aware of any liability which the Group may have, as it relates to any environmental cleanup, restoration, or the violation of any rules or regulations relating thereto except for the matter discussed above. Legal Proceedings The Group is a party to legal proceedings encountered in the ordinary course of its business. While the ultimate outcome and impact to the Group cannot be predicted with certainty, in the opinion of management, it is remote that these legal proceedings will have a material adverse impact on the Group’s condensed consolidated financial condition, results of operations or cash flows. Other Commitments and Contingencies As part of its ongoing business and operations, the Group is required to provide bank letters of credit and bank guarantees for various purposes, including environmental remediation, reclamation, construction costs and other general corporate purposes. On December 19, 2024, TR Ltd., as guarantor, entered into the Facility Agreement with TR West, as borrower, each a wholly-owned subsidiary of the Company, as obligors, and Macquarie Bank Limited (“Macquarie”), as lender. The Facility Agreement provide s TR West with A $25,000,000 in availability (“Facility A”) for letters of credit and bank guarantees (“performance bonds”), and includes two potential additional performance bond facilities, each in the amount of A $5,000,000 (“Facility B” and “Facility C,” respectively, and collectively, the “Facilities”). Availability under the Facility B and Facility C is subject, among other conditions, to the Company raising additional capital in the amounts of at least A $62,500,000 and A $75,000,000 , respectively. All Facilities terminate on December 19, 2027. The obligations under the Facility Agreement are unconditionally guaranteed on a senior secured basis by TR Ltd. The Facilities are subject to customary representations, warranties and ongoing affirmative and negative covenants and agreements. The Group is required to maintain Minimum Liquidity of A $20,000,000 and have a current ratio of at least 1: 1 . The Facility Agreement provides for events of default that include, among others, nonpayment of any amount due under the Facility Agreement, breach of covenants and certain events of bankruptcy or insolvency. If an event of default occurs, Macquarie will be able to, among other things, terminate the commitments immediately, declare any amounts outstanding to be due and payable in whole or in part, and exercise other rights and remedies. The Group was in compliance with all terms of the Facility Agreement as of December 31, 2024 . In relation to Facility A, the Group incurred an establishment fee of A $500,000 . The outstanding letters of credit and bank guarantees under the Facilities are subject to a drawdown fee of 10% per annum, payable quarterly in arrears. The Group is also required to pay a commitment fee of 4% per annum, payable quarterly in arrears, on the average monthly unused amount of the Facilities. If the borrower fails to pay any amount payable under the Facility Agreement by the due date, interest accrues on the overdue amount at a rate of 12% per annum, payable quarterly in arrears. As of December 31, 2024, there was A $6,360,000 of letters of credits issued under the Facility Agreement. As of December 31, 2024 there was A $18,640,000 of unused credit under Facility A and A $10,000,000 of unused credit under Facility B and Facility C. Costs incurred in connection with securing the Facility Agreement, including fees paid to legal advisors and third parties, are deferred and amortized to interest expense over the term of the Facility Agreement. As of December 31, 2024 , total unamortized debt issuance costs were A $828,480 . During the three months and six months ended December 31, 2024 , the Group recorded A $23,671 , as amortization of deferred debt issuance costs as a part of interest expense. In December 2024, Tamboran B1 Operator signed a Development Agreement (“DA”) with APA Group (“APA”) that defines the conditions under which APA will design and construct the SPP. Under the DA, Tamboran B1 Operator is required to put in place bank guarantees that cover approximately two-thirds of APA’s projected construction cost. Tamboran’s share of the bank guarantees over the next six months is estimated to be A $15.0 million . Pursuant to the Gas Transportation Agreement (“GTA”) signed with APA, the bank guarantees will be released by APA once certain performance conditions are met and first gas has been delivered to the NT Government under the Gas Sales Agreement (“GSA”). APA may call on the bank guarantees if certain defaults under the DA or GTA remain unremedied, which in turn triggers a requirement by Tamboran B1 Operator to deposit cash amounts sufficient to cover the bank guarantees under the Facility Agreement with Macquarie.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Note 12 – Related Party Transactions The Group transacts with two shareholders identified as related parties, H&P and Mr. Bryan Sheffield (“Mr. Sheffield”). The transactions during the six months ended December 31, 2024 are as follows. H&P During the year ended June 30, 2023 , the Group entered into a strategic alliance with H&P and secured a $15,000,000 equity investment from H&P (and as a consequence, a member of the H&P Executive Leadership Team was appointed as a director of the Group). The strategic alliance resulted in H&P supporting the Group’s development plans in the Beetaloo Basin through their equity investment in the Company while at the same time executing on H&P’s strategy to gain more international exposure through the use of drilling rigs in Australia. On July 1, 2023 , the lease commenced with H&P for the use of the FlexRig ® for a 25 -month period (Refer Note 4 ). During the three months and six months ended December 31, 2024 , the Group incurred cost of $4,147,721 and $8,099,387 relating to a combination of site mobilization, standby, drilling, labor and rig move costs, $4,065,814 of which remains invoiced and unpaid as of December 31, 2024 . Mr. Sheffield During the three months ended and the six months ended December 31, 2024 , the Group transacted with DWE, which is wholly owned by Formentera Australia Fund, LP, which is managed by Formentera Partners, LP, a private equity firm of which Mr. Sheffield serves as managing partner. Given the equity investments made by Mr. Sheffield in prior periods, an individual employed by Formentera Partners, LP, was appointed director of the group in September 2023. Mr. Sheffield has been a shareholder in the Company since November 2021. The Group and DWE jointly own a 50/ 50 joint venture referred to as TB1 (Refer Note 2). During the three months ended December 31, 2024 , DWE's share of expenditure for the Beetaloo Joint Venture and SPCF for which contributions were due was $18,782,971 . During the six months ended December 31, 2024 , DWE's share of expenditure for the Beetaloo Joint Venture and SPCF for which contributions were due was $24,951,794 . As of December 31, 2024 , the Group had unpaid cash calls owing from DWE in the amount of $3,285,517 . During the six months ended December 31, 2024 , the Company issue d 312,500 shares of Common Stock in satisfaction of the Group's obligation towards the Checkerboard fee (Refer Note 2 and Note 7).

Subsequent Events

Subsequent Events	6 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 13 – Subsequent Events I n January 2025, Sturt Plateau Compression Facility Sub Trust Pty Ltd as Trustee of the Sturt Plateau Compression Facility Sub Trust executed a contract with Enscope Pty Ltd for an anticipated contract value of up to A $35,300,000 (including 10% contingency). The contract relates to the engineering, procurement, and construction management (“EPCM”) for the detailed design, engineering, planning, construction, testing, inspection, commissioning, document and hand over to Sturt Plateau Compression Facility Sub Trust of the infrastructure known as the SPCF. The Group has evaluated its subsequent events occurring after December 31, 2024 , through February 12, 2025 , which represents the date these condensed consolidated financial statements were available to be issued. No further subsequent events have been identified that would require disclosure in these condensed consolidated financial statements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (14,166,946)	$ (6,026,331)	$ (20,061,520)	$ (9,216,029)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Business and Basis of Prepara_2

Business and Basis of Preparation (Policies)	6 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern and Management’s Liquidity Plan	Going Concern and Management’s Liquidity Plan The accompanying condensed consolidated financial statements have been prepared on the basis that the Group will continue as a going concern which contemplates the realization of assets and the satisfaction of liabilities in the ordinary and usual course of business. As of December 31, 2024 , the Group had: • not generated revenues since inception, and is unlikely to generate earnings in the immediate or foreseeable future; • a working capital surplus o f $29,263,617 , arising from proceeds of our Initial Public Offering (“IPO”), the rig 403 sale proceeds and the refund for 2023 Research and Development ( “ R&D ” ) tax credit; • an accumulated deficit of $150,441,291 since inception; and • significant expenditures planned for the unproved properties in the next 12 months. These factors raise substantial doubt regarding the Group’s ability to continue as a going concern for the 12 months following the date these condensed consolidated financial statements were available for issuance. The continuation of the Group as a going concern is dependent upon the ability of the Group to obtain necessary additional capital to fund ongoing exploration, appraisal and development projects and/or obtain gas producing properties to attain future profitable operations. No assurance can be given that the Group will be successful in these efforts in the future. Management has several plans in various stages of progress to source additional funding to provide operating capital for the continued growth of the Group. As a result, these condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded assets and liabilities that might be necessary should the Group be unable to continue as a going concern.
Basis of Presentation of Condensed Consolidated Financial Statements	Basis of Presentation of Condensed Consolidated Financial Statements The accompanying condensed consolidated financial statements have been prepared in conformity with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) and rules and regulations of the Securities and Exchange Commission (“SEC”) applicable to interim financial statements. Pursuant to such rules and regulations, certain disclosures and information required by U.S. GAAP for complete consolidated financial statements have been condensed or omitted. The accompanying condensed consolidated financial statements and notes therein should be read in conjunction with the financial statements and notes included in our consolidated financial statements for the year ended June 30, 2024 (“Group’s Annual Financial Statements”). These condensed consolidated financial statements reflect all adjustments, in the opinion of management, which include normal and recurring adjustments necessary to fairly state the Group’s consolidated financial position, results of operations, and cash flows for the periods presented herein. The interim results are not necessarily indicative of results for any other future annual or interim period. The June 30, 2024 condensed consolidated balance sheet was derived from the audited Group’s Annual Financial Statements but does not include all disclosures required by U.S. GAAP for annual financial statements.
Significant Judgments and Accounting Estimates	Significant Judgments and Accounting Estimates The preparation of these condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts of assets and liabilities, revenue and expenses and related disclosures of contingent assets and liabilities reported in the condensed consolidated financial statements and the accompanying notes. There have been no significant changes to the Group’s accounting estimates from those disclosed in the Group’s Annual Financial Statements.
Foreign Currency Translation and Transactions	Foreign Currency Translation These condensed consolidated financial statements are presented in US dollars (“$” or “dollars”) and the functional currency of the Group is the Australian Dollar (“A$”). Adjustments resulting from the translation of functional currency financial statements to reporting currency are accumulated and reported as a part of “Accumulated Other Comprehensive Loss”, a separate component of stockholders’ equity. Foreign Currency Transactions Foreign currency transactions are translated into the Company’s functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the condensed consolidated statements of operations and comprehensive loss.
Leases as a Lessee	Leases As a Lessee The Group accounts for leases under ASC 842, Leases (“ASC 842”). The Group determines if an arrangement is a lease at inception of the arrangement and if such lease will be classified as an operating lease or a finance lease. The Group’s leases represent its right to use an underlying asset for the lease term. Right-of-use (“ROU”) assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As the Group’s leases do not provide an implicit rate, the Group used a proxy for its incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. The Group has elected to account for lease and non-lease components in its contracts as a single lease component for all asset classes except for office premises. Operating leases are included in “Operating lease right-of-use assets” within the Group’s condensed consolidated balance sheet. The Group’s related obligation to make lease payments are included in “Current portion of operating lease obligations” and “Operating lease obligations” within the Group’s condensed consolidated balance sheet. Operating lease expense for lease payments is recognized on a straight-line basis over the lease term. Finance leases are included in “Finance lease right-of-use assets” within the Group’s condensed consolidated balance sheet. The Group’s related obligation to make lease payments are included in “Current portion of finance lease obligations” and “Finance lease obligations” within the Group’s condensed consolidated balance sheet. Finance lease expense includes amortization of the ROU assets and interest on lease liabilities. The Group capitalizes the finance lease expense as a part of unproved properties when the leased asset is directly involved in the drilling of wells (i.e. the finance lease expense is a direct cost of drilling wells). Leases with a lease term of 12 months or less are not recorded on the condensed consolidated balance sheet and are recognized as lease expense on a straight-line basis over the lease term. When it is reasonably certain the Group will exercise an option to extend the short-term lease beyond 12 months, the cost will be capitalized.
Leases as a Lessor	As a Lessor Sublease income is recognized on a straight-line basis over the term of the sublease agreement and is recorded within “Other expenses, net” in the condensed consolidated statements of operations and comprehensive loss.
Natural Gas Properties	Natural Gas Properties The Group’s operations are in the exploration and appraisal stage and has not yet realized any revenues from operations. The Group holds a number of exploration permits that are grouped into areas of interest according to geographical and geological attributes. Expenditure incurred in each area of interest is accounted for using the successful efforts method, as defined within ASC 932, Extractive Activities – Oil and Gas . Under this method, all general exploration and evaluation costs such as geological and geophysical costs are expensed as incurred. The direct costs of acquiring the rights to explore, drilling exploratory wells, and evaluating the results of drilling are capitalized as exploration and evaluation assets (as a part of unproved properties) pending the determination of the results of the well. If a well does not result in hydrocarbons being present, the previously capitalized costs are immediately expensed.
Deferred Debt Issuance Cost	Deferred Debt Issuance Costs The Group presents unamortized deferred debt issuance costs related to the establishment of a Performance Bond Facility Agreement (the “Facility Agreement”) as a component of “Prepaid expenses and other non-current assets” on its consolidated balance sheets because the outstanding balance under this Facility Agreement may fluctuate as the Group borrows and repays the relevant amounts. The Group amortizes the deferred debt issuance costs over the remaining term of the Facility on a straight-line basis which is reported within “interest income, net” in the condensed consolidated statements of operations and comprehensive loss.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In November 2024, the Financial Accounting Standards Board (“FASB”) issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (“ASU 2024-03”), which requires public business entities to provide detailed disclosures in the notes to financial statements disaggregating specific expense categories, including employee compensation, depreciation, and intangible asset amortization, as well as certain other disclosures to provide enhanced transparency into the nature and function of expenses on an interim and annual basis. The new standard is effective for annual periods beginning after December 15, 2026, with early adoption permitted. The Group is currently evaluating ASU 2024-03 and the impact it may have on the Group's consolidated financial statements.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Balance Sheet	The following table summarizes the carrying amounts of TB1’s assets and liabilities included in the Group’s condensed consolidated balance sheet as of December 31, 2024 and June 30, 2024 : December 31, 2024 June 30, 2024 ASSETS Current assets Cash and cash equivalents $ 11,230,191 $ 1,488,541 Trade and other receivables: Joint interest billing 3,565,181 10,298,322 Intercompany receivable 4,359,082 7,415,684 ATO receivable 2,072,833 615,480 Other receivable 2,463 — Prepaid expenses and other current assets 1,129,675 1,476,094 Total current assets 22,359,425 21,294,121 Natural gas properties, successful efforts method: Unproved properties 210,864,387 167,998,061 Assets under construction - natural gas equipment 11,850,337 7,542,064 Finance lease right-of-use assets 15,632,023 20,697,452 Prepaid expenses and other non-current assets 949,247 385,215 Total non-current assets 239,295,994 196,622,792 TOTAL ASSETS $ 261,655,419 $ 217,916,913 LIABILITIES Current liabilities Accounts payable and accrued expenses $ 17,518,868 $ 10,569,865 Current portion of finance lease obligations 15,205,744 12,767,400 Total current liabilities 32,724,612 23,337,265 Finance lease obligations 6,618,699 14,141,713 Asset retirement obligations 4,575,103 4,174,178 Loan from Tamboran 139,047,677 113,096,572 Total non-current liabilities 150,241,479 131,412,463 TOTAL LIABILITIES $ 182,966,091 $ 154,749,728

Property, Plant and Equipment_2

Property, Plant and Equipment & Natural Gas Properties (Tables)	6 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Oil and Gas, Capitalized Exploratory Well Cost, Roll Forward	Natural gas properties EP 161 EP 136 EP 76, 98 and 117 Total Balance at July 1, 2024 $ 23,744,221 $ 51,035,326 $ 155,339,901 $ 230,119,448 Capital expenditure 780,079 393,707 49,202,640 50,376,426 Restoration assets — — 444,827 444,827 Interest on finance lease liability and related depreciation of ROU assets capitalized — — 6,553,935 6,553,935 Government grant — (6,168,698) — (6,168,698) Effect of changes in foreign exchange rates (1,606,874) (3,285,570) (12,277,080) (17,169,524) Balance at December 31, 2024 $ 22,917,426 $ 41,974,765 $ 199,264,223 $ 264,156,414

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Assets and Liabilities, Lessee	The following table presents the classification and location of the Group’s leases on the condensed consolidated balance sheets: December 31, 2024 June 30, 2024 Right-of-use assets: Operating lease right-of-use assets $ 833,824 $ 962,052 Finance lease right-of-use assets 15,632,023 20,697,452 16,465,847 21,659,504 Lease liabilities: Current portion of operating lease obligations 279,401 397,999 Non-current portion of operating lease obligations 573,239 587,250 Current portion of finance lease obligations 15,205,744 12,767,400 Non-current portion of finance lease obligations 6,618,699 14,141,713 $ 22,677,083 $ 27,894,362 The following table presents supplemental information for the Group’s non-cancellable leases for the six months ended December 31, 2024 , and 2023 : Six months ended December 31, 2024 2023 Operating leases: Weighted-average remaining lease term 2.91 3.02 Weighted-average incremental borrowing rate 11.50% 9.91% Finance leases: Weighted-average remaining lease term 1.58 1.83 Weighted-average incremental borrowing rate 13.45% 13.45%
Lease, Cost	For the three months and six months ended December 31, 2024 , and 2023 , the components of the lease costs were as follows: Three months ended December 31, Six months ended December 31, 2024 2023 2024 2023 Operating leases: Operating lease cost charged to profit and loss $ 130,028 $ 141,471 $ 287,174 $ 211,985 Finance leases: Interest on lease liabilities 692,582 762,171 1,488,506 1,578,081 Depreciation on right-of-use assets 2,532,714 2,927,616 5,065,429 6,025,148 Total finance lease cost 3,225,296 3,689,787 6,553,935 7,603,229 Less: Lease cost capitalized to unproved properties (3,225,296) (3,689,787) (6,553,935) (7,603,229) Finance lease cost charged to profit and loss $ — $ — $ — $ — The following table presents the cash flow information related to lease payments for the six months ended December 31, 2024 , and 2023 : Six months ended December 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 287,174 $ 211,985 Financing cash flows for finance leases 5,503,668 1,721,511 $ 5,790,842 $ 1,933,496
Lessee, Operating Lease, Liability, to be Paid, Maturity	As of December 31, 2024 , the Group’s undiscounted minimum cash payment obligations for its lease liabilities are as follows: As at December 31, 2024 Operating leases Finance leases Fiscal year ending June 30, 2025 (excluding six months period from July 1, 2024 to December 31, 2024) $ 203,783 $ 8,775,073 Fiscal year ending June 30, 2026 320,503 14,417,500 Fiscal year ending June 30, 2027 330,808 632,000 Thereafter 159,538 — Total lease payments 1,014,632 23,824,573 Less: Imputed interest (161,992) (2,000,130) Present value of lease liabilities 1 $ 852,640 $ 21,824,443 1 Includes both current and long-term portion of the lease liabilities.
Finance Lease, Liability, to be Paid, Maturity	As of December 31, 2024 , the Group’s undiscounted minimum cash payment obligations for its lease liabilities are as follows: As at December 31, 2024 Operating leases Finance leases Fiscal year ending June 30, 2025 (excluding six months period from July 1, 2024 to December 31, 2024) $ 203,783 $ 8,775,073 Fiscal year ending June 30, 2026 320,503 14,417,500 Fiscal year ending June 30, 2027 330,808 632,000 Thereafter 159,538 — Total lease payments 1,014,632 23,824,573 Less: Imputed interest (161,992) (2,000,130) Present value of lease liabilities 1 $ 852,640 $ 21,824,443 1 Includes both current and long-term portion of the lease liabilities.

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	6 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	Accounts payable and accrued expenses included in current liabilities consist of the following: December 31, 2024 June 30, 2024 Accounts payable $ 11,242,126 $ 6,619,320 Accrued payroll 755,943 13,216 Compensated absences 737,818 668,825 Defined contribution superannuation payable — 8,164 Accrued capital expenditure 9,537,516 4,318,703 Accrued expenses 292,102 3,204,371 Total accounts payable and accrued expenses $ 22,565,505 $ 14,832,599

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Change in Asset Retirement Obligation	The reconciliation o f changes in asset retirement obligations for the six months ended December 31, 2024 , is as follows: Six months ended December 31, 2024 Beginning asset retirement obligations $ 8,140,992 Liabilities incurred 444,827 Accretion expense 499,804 Effect of changes in foreign exchange rates (561,791) Long-term asset retirement obligations $ 8,523,832

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	6 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Common Stock Outstanding Roll Forward	Movement in Common Stock Date Tamboran common stock Fair Market Value at time of Issuance Details Net proceeds Balance at July 1, 2024 13,915,524 $ 396,924,177 Capital raise July 2024 308,750 $ 24.00 $ 7,410,000 Issuance of common stock as checkerboard fee November 2024 312,500 $ 19.04 $ 5,950,000 Less: Transaction costs — $ (479,150) 12,880,850 Balance at December 31, 2024 14,536,774 $ 409,805,027

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Payment Award, Equity Instruments Other than Options, Valuation Assumptions	The following table summarizes the assumptions used to calculate the grant date fair value of the Tranche 3 RSUs granted on August 6, 2024 : Expected term for performance period (in years) 4.9 Expected volatility 74.6% Risk-free interest rate 3.7%
Share-Based Payment Arrangement, Cost by Plan	The following table presents the stock-based compensation costs recognized related to our RSUs for the three months and six months ended December 31, 2024 : Three months ended December 31, 2024 Stock-Based Compensation Cost Incurred Remaining costs to recognize, if all vesting conditions are met Weighted average remaining contractual term (in years) IPO Awards (Tranche 1) $ 748,273 $ 7,433,931 2.5 IPO Awards (Tranche 2) $ 185,892 $ 1,846,794 2.5 IPO Awards (Tranche 3) $ 508,291 $ 5,049,764 2.5 Retention Awards $ 184,718 $ 732,847 1.0 Total Cost Incurred $ 1,627,174 $ 15,063,336 Total Stock Compensation Costs Capitalized 899,092 Total Stock Compensation Costs Expensed $ 728,082 Total Cost Incurred $ 1,627,174 Six months ended December 31, 2024 Stock-Based Compensation Cost Incurred Remaining costs to recognize, if all vesting conditions are met Weighted average remaining contractual term (in years) IPO Awards (Tranche 1) $ 1,203,744 $ 7,433,931 2.5 IPO Awards (Tranche 2) $ 299,043 $ 1,846,794 2.5 IPO Awards (Tranche 3) $ 817,686 $ 5,049,764 2.5 Retention Awards $ 297,155 $ 732,847 1.0 Total Cost Incurred $ 2,617,628 $ 15,063,336 Total Stock Compensation Costs Capitalized 899,092 Total Stock Compensation Costs Expensed $ 1,718,536 Total Cost Incurred $ 2,617,628

Loss Per Share (Tables)

Loss Per Share (Tables)	6 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The computations for basic and diluted loss per share are as follows: Three months ended December 31, Six months ended December 31, 2024 2023 2024 2023 Numerator: Net loss after income tax attributable to Tamboran Resources Corporation stockholders $ (14,166,946) $ (6,026,331) $ (20,061,520) $ (9,216,029) Denominator: Weighted average number of common stock outstanding, basic and diluted 14,346,556 8,735,752 14,236,753 8,612,217 Net loss per share, basic and diluted $ (0.987) $ (0.690) $ (1.409) $ (1.070)

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	6 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Unrecorded Unconditional Purchase Obligations Disclosure	December 31, 2024 June 30, 2024 Committed at the reporting date but not recognized as liabilities, payable: Sweetpea $ 21,860,137 $ 23,283,360 EP 161 2,487,640 2,649,600 Beetaloo Joint Venture 70,400,212 62,642,340 Midstream 1,195,542 1,971,843

Business and Basis of Prepara_3

Business and Basis of Preparation (Details) - USD ($)	Dec. 31, 2024	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Working capital surplus	$ 29,263,617
Accumulated deficit	$ 150,441,291	$ 130,379,771

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) - USD ($)

1 Months Ended

6 Months Ended

Jun. 03, 2024

Sep. 18, 2022

Nov. 30, 2024

Oct. 31, 2024

Jul. 31, 2024

Dec. 31, 2024

Nov. 04, 2024

Nov. 01, 2024

Jun. 30, 2024

Mar. 21, 2024

Mar. 04, 2024

Nov. 09, 2022

Variable Interest Entity [Line Items]

Commitments and contingencies

Capital Raise (in shares)

312,500

308,750

312,500

Issue price (in USD per share)

$ 24

$ 19.04

$ 19.04

$ 24

Falcon | Beetaloo Basin

Variable Interest Entity [Line Items]

Equity, ownership percentage

22.50%

22.50%

Falcon | Beetaloo Basin, SS2 Well Pad | Maximum

Variable Interest Entity [Line Items]

Equity, ownership percentage

5%

Beetaloo Basin

Variable Interest Entity [Line Items]

Equity, ownership percentage

38.75%

Beetaloo Basin | Tamboran (B1) Pty Ltd ("TB1")

Variable Interest Entity [Line Items]

Equity, ownership percentage

77.50%

Beetaloo Basin | Daly Waters Energy, LP (“DWE”)

Variable Interest Entity [Line Items]

Equity, ownership percentage

38.75%

Beetaloo Basin, SS2 Well Pad | Tamboran (B1) Pty Ltd ("TB1") | Minimum

Variable Interest Entity [Line Items]

Equity, ownership percentage

95%

Variable interest entity, primary beneficiary | Daly Waters Energy, LP (“DWE”) | Tamboran (B1) Pty Ltd ("TB1")

Variable Interest Entity [Line Items]

Joint venture, ownership percentage

50%

50%

Commitments and contingencies

$ 7,500,000

$ 7,500,000

Issuance of stock and warrants for services or claims

$ 15,000,000

Variable interest entity, primary beneficiary | Daly Waters Infrastructure, LP (“DWI”) | Tamboran SPCF Pty Ltd (“TR SPCF”)

Variable Interest Entity [Line Items]

Joint venture, ownership percentage

50%

Variable Interest Entities - Ba

Variable Interest Entities - Balance sheet (Details) - USD ($)	Dec. 31, 2024	Jun. 30, 2024
Current assets
Cash and cash equivalents	$ 59,442,407	$ 74,745,897
Trade and other receivables:
Joint interest billing	3,565,181	10,298,322
ATO receivable	2,072,833	700,115
Prepaid expenses and other current assets	2,188,368	3,209,033
Total current assets	67,314,267	97,330,881
Finance lease right-of-use assets	15,632,023	20,697,452
Prepaid expenses and other non-current assets	2,909,823	1,889,890
Total non-current assets	295,605,319	261,313,150
TOTAL ASSETS	362,919,586	358,644,031
Current liabilities
Accounts payable and accrued expenses	22,565,505	14,832,599
Current portion of finance lease obligations	15,205,744	12,767,400
Total current liabilities	38,050,650	27,997,998
Finance lease obligations	6,618,699	14,141,713
Asset retirement obligations	8,523,832	8,140,992
Total non-current liabilities	15,819,746	22,960,333
Total liabilities	53,870,396	50,958,331
Unproved properties
Trade and other receivables:
Natural gas properties, successful efforts method	264,156,414	230,119,448
Assets under construction - natural gas equipment
Trade and other receivables:
Natural gas properties, successful efforts method	11,850,337	7,542,064
Variable interest entity, primary beneficiary
Current assets
Cash and cash equivalents	11,230,191	1,488,541
Trade and other receivables:
Joint interest billing	3,565,181	10,298,322
Intercompany receivable	4,359,082	7,415,684
ATO receivable	2,072,833	615,480
Other receivable	2,463	0
Prepaid expenses and other current assets	1,129,675	1,476,094
Total current assets	22,359,425	21,294,121
Finance lease right-of-use assets	15,632,023	20,697,452
Prepaid expenses and other non-current assets	949,247	385,215
Total non-current assets	239,295,994	196,622,792
TOTAL ASSETS	261,655,419	217,916,913
Current liabilities
Accounts payable and accrued expenses	17,518,868	10,569,865
Current portion of finance lease obligations	15,205,744	12,767,400
Total current liabilities	32,724,612	23,337,265
Finance lease obligations	6,618,699	14,141,713
Asset retirement obligations	4,575,103	4,174,178
Loan from Tamboran	139,047,677	113,096,572
Total non-current liabilities	150,241,479	131,412,463
Total liabilities	182,966,091	154,749,728
Variable interest entity, primary beneficiary | Unproved properties
Trade and other receivables:
Natural gas properties, successful efforts method	210,864,387	167,998,061
Variable interest entity, primary beneficiary | Assets under construction - natural gas equipment
Trade and other receivables:
Natural gas properties, successful efforts method	$ 11,850,337	$ 7,542,064

Property, Plant and Equipment_3

Property, Plant and Equipment & Natural Gas Properties - Narrative (Details)	1 Months Ended	3 Months Ended	6 Months Ended
	Oct. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2024 TJ	Dec. 31, 2024 MMcf / d	Dec. 31, 2024 km	Jun. 30, 2024 USD ($)
Property, Plant and Equipment [Line Items]
Proceeds from government grants for exploration			$ 6,168,698	$ 0
Property, plant and equipment, net		$ 222,898	222,898					$ 102,244
Sturt plateau compression facility (“SPCF”), volume					40	39
Sturt plateau pipeline (SPP), distance | km							35
Loss on remeasurement of assets classified as held for sale			376,000	$ 25,605
Rig 403
Property, Plant and Equipment [Line Items]
Asset, held-for-sale, not part of disposal group	$ 8,500,000
Asset, held-for-sale, sales commission percentage	6%
Loss on remeasurement of assets classified as held for sale		0	376,000
Unproved properties
Property, Plant and Equipment [Line Items]
Natural gas properties, successful efforts method		264,156,414	264,156,414					230,119,448
Unproved properties | EP 136
Property, Plant and Equipment [Line Items]
Natural gas properties, successful efforts method		41,974,765	41,974,765					51,035,326
Proceeds from government grants for exploration			6,168,698
Assets under construction - natural gas equipment
Property, Plant and Equipment [Line Items]
Natural gas properties, successful efforts method		$ 11,850,337	$ 11,850,337					$ 7,542,064

Property, Plant and Equipment_4

Property, Plant and Equipment & Natural Gas Properties - Oil and Gas, Capitalized Exploratory Well Cost, Roll Forward (Details) - Unproved properties	6 Months Ended
	Dec. 31, 2024 USD ($)
Oil and Gas, Capitalized Exploratory Well Cost [Roll Forward]
Balance at July 1, 2024	$ 230,119,448
Capital expenditure	50,376,426
Restoration assets	444,827
Interest on finance lease liability and related depreciation of ROU assets capitalized	6,553,935
Government grant	(6,168,698)
Effect of changes in foreign exchange rates	(17,169,524)
Balance at December 31, 2024	264,156,414
EP 161
Oil and Gas, Capitalized Exploratory Well Cost [Roll Forward]
Balance at July 1, 2024	23,744,221
Capital expenditure	780,079
Restoration assets	0
Interest on finance lease liability and related depreciation of ROU assets capitalized	0
Government grant	0
Effect of changes in foreign exchange rates	(1,606,874)
Balance at December 31, 2024	22,917,426
EP 136
Oil and Gas, Capitalized Exploratory Well Cost [Roll Forward]
Balance at July 1, 2024	51,035,326
Capital expenditure	393,707
Restoration assets	0
Interest on finance lease liability and related depreciation of ROU assets capitalized	0
Government grant	(6,168,698)
Effect of changes in foreign exchange rates	(3,285,570)
Balance at December 31, 2024	41,974,765
EP 76, 98 and 117
Oil and Gas, Capitalized Exploratory Well Cost [Roll Forward]
Balance at July 1, 2024	155,339,901
Capital expenditure	49,202,640
Restoration assets	444,827
Interest on finance lease liability and related depreciation of ROU assets capitalized	6,553,935
Government grant	0
Effect of changes in foreign exchange rates	(12,277,080)
Balance at December 31, 2024	$ 199,264,223

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)		3 Months Ended	6 Months Ended
	Jul. 01, 2023	Dec. 31, 2024	Dec. 31, 2024	Jul. 01, 2024	Oct. 15, 2023	Oct. 01, 2023
Lessee, Lease, Description [Line Items]
Finance lease, discount rate	13.50%
Lessor, term of contract					17 months
Operating lease, lease income		$ 92,669	$ 174,306
Building
Lessee, Lease, Description [Line Items]
Term of contract, office building				3 years		4 years
Renewal term of contract				2 years
Equipment
Lessee, Lease, Description [Line Items]
Term of contract, rig	25 months
Lease, gap period	270 days

Leases - Balance sheet balances

Leases - Balance sheet balances (Details) - USD ($)	Dec. 31, 2024	Jun. 30, 2024
Right-of-use assets
Operating lease right-of-use assets	$ 833,824	$ 962,052
Finance lease right-of-use assets	15,632,023	20,697,452
Right-of-use assets	16,465,847	21,659,504
Lease liabilities
Current portion of operating lease obligations	279,401	397,999
Non-current portion of operating lease obligations	573,239	587,250
Current portion of finance lease obligations	15,205,744	12,767,400
Non-current portion of finance lease obligations	6,618,699	14,141,713
Lease liabilities	$ 22,677,083	$ 27,894,362

Leases - Income Statement trans

Leases - Income Statement transactions (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Operating leases
Operating lease cost charged to profit and loss	$ 130,028	$ 141,471	$ 287,174	$ 211,985
Finance leases
Interest on lease liabilities	692,582	762,171	1,488,506	1,578,081
Depreciation on right-of-use assets	2,532,714	2,927,616	5,065,429	6,025,148
Total finance lease cost	3,225,296	3,689,787	6,553,935	7,603,229
Less: Lease cost capitalized to unproved properties	(3,225,296)	(3,689,787)	(6,553,935)	(7,603,229)
Finance lease cost charged to profit and loss	$ 0	$ 0	$ 0	$ 0

Leases - Cash Flow disclosure (

Leases - Cash Flow disclosure (Details) - USD ($)	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating cash flows for operating leases	$ 287,174	$ 211,985
Financing cash flows for finance leases	5,503,668	1,721,511
Cash paid for amounts included in the measurement of lease liabilities	$ 5,790,842	$ 1,933,496

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Remaining Lease Term And Discount Rates (Details)	Dec. 31, 2024	Dec. 31, 2023
Operating leases
Weighted-average remaining lease term	2 years 10 months 28 days	3 years 7 days
Weighted-average incremental borrowing rate	11.50%	9.91%
Finance leases
Weighted-average remaining lease term	1 year 6 months 29 days	1 year 9 months 29 days
Weighted-average incremental borrowing rate	13.45%	13.45%

Leases - Maturity of Lease Liab

Leases - Maturity of Lease Liabilities (Details)	Dec. 31, 2024 USD ($)
Operating leases
Fiscal year ending June 30, 2025 (excluding six months period from July 1, 2024 to December 31, 2024)	$ 203,783
Fiscal year ending June 30, 2026	320,503
Fiscal year ending June 30, 2027	330,808
Thereafter	159,538
Total lease payments	1,014,632
Less: Imputed interest	(161,992)
Present value of operating lease liabilities	852,640
Finance leases
Fiscal year ending June 30, 2025 (excluding six months period from July 1, 2024 to December 31, 2024)	8,775,073
Fiscal year ending June 30, 2026	14,417,500
Fiscal year ending June 30, 2027	632,000
Thereafter	0
Total lease payments	23,824,573
Less: Imputed interest	(2,000,130)
Present value of finance lease liabilities	$ 21,824,443

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses (Details) - USD ($)	Dec. 31, 2024	Jun. 30, 2024
Payables and Accruals [Abstract]
Accounts payable	$ 11,242,126	$ 6,619,320
Accrued payroll	755,943	13,216
Compensated absences	737,818	668,825
Defined contribution superannuation payable	0	8,164
Accrued capital expenditure	9,537,516	4,318,703
Accrued expenses	292,102	3,204,371
Total accounts payable and accrued expenses	$ 22,565,505	$ 14,832,599

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning asset retirement obligations			$ 8,140,992
Liabilities incurred			444,827
Accretion expense	$ 242,066	$ 215,282	499,804	$ 429,597
Effect of changes in foreign exchange rates			(561,791)
Long-term asset retirement obligations	$ 8,523,832		$ 8,523,832

Stockholders_ Equity - Movement

Stockholders’ Equity - Movement in common stock (Details) - USD ($)	1 Months Ended		6 Months Ended
	Nov. 30, 2024	Jul. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Nov. 04, 2024	Nov. 01, 2024	Jun. 30, 2024
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, shares, issued at the beginning of the period (in shares)		13,915,524	13,915,524
Common stock, value, net proceeds accumulated at beginning of period		$ 396,924,177	$ 396,924,177
Capital Raise (in shares)	312,500	308,750	312,500
Issue price (in USD per share)		$ 24			$ 19.04	$ 19.04	$ 24
Capital raise	$ 5,950,000	$ 7,410,000
Less: Transaction costs			$ (479,150)	$ (4,457,438)
Less: Transaction costs			$ 12,880,850
Common stock, shares, issued at the end of the period (in shares)			14,536,774
Common stock, value, net proceeds accumulated at end of period			$ 409,805,027

Stockholders_ Equity - Narrativ

Stockholders’ Equity - Narrative (Details) - USD ($)	1 Months Ended		6 Months Ended
	Nov. 30, 2024	Jul. 31, 2024	Dec. 31, 2024	Nov. 04, 2024	Nov. 01, 2024	Jun. 30, 2024
Subsidiary or Equity Method Investee [Line Items]
Stock issued during period (in shares)	312,500	308,750	312,500
Issue price (in USD per share)		$ 24		$ 19.04	$ 19.04	$ 24
Commitments and contingencies (Note 11)
Variable interest entity, primary beneficiary | Daly Waters Energy, LP (“DWE”) | Tamboran (B1) Pty Ltd ("TB1")
Subsidiary or Equity Method Investee [Line Items]
Commitments and contingencies (Note 11)	$ 7,500,000		$ 7,500,000
Greenshoe option
Subsidiary or Equity Method Investee [Line Items]
Stock issued during period (in shares)		308,750

Stock-Based Compensation - Mile

Stock-Based Compensation - Milestone Options Narrative (Details) - Employee stock option - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Nov. 30, 2023	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment expense		$ 0	$ 138,996	$ 267,605
Share-based payment arrangement, employee
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options, grant in period (in shares)			0
Options, forfeitures in period (in shares)	3,000,000		0

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units Narrative (Details) - $ / shares	Aug. 06, 2024	Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of CDI exchanged for one common stock (in shares)	200
2024 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized (in shares)		1,600,000
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | Retention Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation grants in period (in shares)	47,400
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | U.S. Retention awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, shares, issued (in shares)	8,150
Fair value at grant date (in USD per share)	$ 21.73
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | Australia Retention awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, shares, issued (in shares)	39,250
Fair value at grant date (in USD per share)	$ 0.109
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | IPO Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation grants in period (in shares)	795,000
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | IPO Awards | Tranche 1
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation grants in period (in shares)	397,500
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | IPO Awards | Tranche 2
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation grants in period (in shares)	98,750
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | IPO Awards | Tranche 3
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation grants in period (in shares)	298,750
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | U.S. IPO awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, shares, issued (in shares)	175,000
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | U.S. IPO awards | Tranche 1
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Fair value at grant date (in USD per share)	$ 21.73
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | U.S. IPO awards | Tranche 2
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Fair value at grant date (in USD per share)	21.73
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | U.S. IPO awards | Tranche 3
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Fair value at grant date (in USD per share)	$ 19.64
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | Australia IPO awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, shares, issued (in shares)	620,000
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | Australia IPO awards | Tranche 1
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Fair value at grant date (in USD per share)	$ 0.109
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | Australia IPO awards | Tranche 2
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Fair value at grant date (in USD per share)	0.109
Restricted Stock Units (RSUs) | Share-based payment arrangement, employee | Australia IPO awards | Tranche 3
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Fair value at grant date (in USD per share)	$ 0.098

Stock-Based Compensation - Fair

Stock-Based Compensation - Fair Value Assumptions (Details) - Restricted Stock Units (RSUs) - Tranche 3 - 2024 Plan - Share-based payment arrangement, employee	6 Months Ended
	Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term for performance period (in years)	4 years 10 months 24 days
Expected volatility	74.60%
Risk-free interest rate	3.70%

Stock-Based Compensation - Expe

Stock-Based Compensation - Expense related disclosures (Details) - Restricted Stock Units (RSUs)	3 Months Ended	6 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)
2024 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Cost Incurred	$ 1,627,174	$ 2,617,628
Total Stock Compensation Costs Capitalized	899,092	899,092
Total Stock Compensation Costs Expensed	728,082	1,718,536
Remaining costs to recognize, if all vesting conditions are met	15,063,336	15,063,336
IPO Awards | Tranche 1
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Cost Incurred	748,273	1,203,744
Remaining costs to recognize, if all vesting conditions are met	$ 7,433,931	$ 7,433,931
Weighted average remaining contractual term (in years)	2 years 6 months	2 years 6 months
IPO Awards | Tranche 2
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Cost Incurred	$ 185,892	$ 299,043
Remaining costs to recognize, if all vesting conditions are met	$ 1,846,794	$ 1,846,794
Weighted average remaining contractual term (in years)	2 years 6 months	2 years 6 months
IPO Awards | Tranche 3
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Cost Incurred	$ 508,291	$ 817,686
Remaining costs to recognize, if all vesting conditions are met	$ 5,049,764	$ 5,049,764
Weighted average remaining contractual term (in years)	2 years 6 months	2 years 6 months
Retention Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Cost Incurred	$ 184,718	$ 297,155
Remaining costs to recognize, if all vesting conditions are met	$ 732,847	$ 732,847
Weighted average remaining contractual term (in years)	1 year	1 year

Income Taxes (Details)

Income Taxes (Details) - USD ($)	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]
Effective tax rate reconciliation, percent	0%	0%
Foreign Tax Jurisdiction
Effective Income Tax Rate Reconciliation [Line Items]
Operating loss carryforwards	$ 301,247,473

Loss Per Share (Details)

Loss Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Numerator:
Net loss after income tax attributable to Tamboran Resources Corporation stockholders	$ (14,166,946)	$ (6,026,331)	$ (20,061,520)	$ (9,216,029)
Denominator:
Weighted average number of common stock outstanding, basic (in shares)	14,346,556	8,735,752	14,236,753	8,612,217
Weighted average number of common stock outstanding, diluted (in shares)	14,346,556	8,735,752	14,236,753	8,612,217
Net loss per share, basic (in USD per share)	$ (0.987)	$ (0.690)	$ (1.409)	$ (1.070)
Net loss per share, diluted (in USD per share)	$ (0.987)	$ (0.690)	$ (1.409)	$ (1.070)

Commitment and Contingencies -

Commitment and Contingencies - Schedule of committed not recognized liabilities (Details) - USD ($)	Dec. 31, 2024	Jun. 30, 2024
Sweetpea
Other Commitments [Line Items]
Committed at the reporting date but not recognized as liabilities, payable	$ 21,860,137	$ 23,283,360
EP 161
Other Commitments [Line Items]
Committed at the reporting date but not recognized as liabilities, payable	2,487,640	2,649,600
Beetaloo Joint Venture
Other Commitments [Line Items]
Committed at the reporting date but not recognized as liabilities, payable	70,400,212	62,642,340
Midstream
Other Commitments [Line Items]
Committed at the reporting date but not recognized as liabilities, payable	$ 1,195,542	$ 1,971,843

Commitment and Contingencies _2

Commitment and Contingencies - Narrative (Details)	1 Months Ended	3 Months Ended	6 Months Ended
	Dec. 31, 2024 USD ($) well license	Dec. 31, 2024 AUD ($)	Dec. 31, 2024 AUD ($)	Dec. 31, 2024 AUD ($) well license	Dec. 19, 2024 AUD ($) bondFacility	Jun. 30, 2024 USD ($)
Other Commitments [Line Items]
Number of potential additional performance bond facilities | bondFacility					2
Unamortized debt issuance expense				$ 828,480
Amortization of debt issuance costs		$ 23,671	$ 23,671
APA Group (APA) | Development Agreement ("DA")
Other Commitments [Line Items]
Guarantor obligation, construction costs covered by bank guarantees, percentage	67%			67%
Estimated future construction costs, term	6 months
Estimated future construction costs				$ 15,000,000
Letter of credit, facility A | Macquarie Bank Limited (“Macquarie”)
Other Commitments [Line Items]
Line of credit facility, maximum borrowing capacity					$ 25,000,000
Letters of credit outstanding, amount				6,360,000
Line of credit facility, remaining borrowing capacity				$ 18,640,000
Letter of credit, facility B | Macquarie Bank Limited (“Macquarie”)
Other Commitments [Line Items]
Line of credit facility, maximum borrowing capacity					5,000,000
Line of credit facility, conditions to issue stock, value, new issues					62,500,000
Letter of credit, facility C | Macquarie Bank Limited (“Macquarie”)
Other Commitments [Line Items]
Line of credit facility, maximum borrowing capacity					5,000,000
Line of credit facility, conditions to issue stock, value, new issues					$ 75,000,000
Letter of credit | Line of credit
Other Commitments [Line Items]
Interest rate, stated percentage	12%			12%
Letter of credit | Macquarie Bank Limited (“Macquarie”)
Other Commitments [Line Items]
Line of credit facility, covenants, minimum liquidity				$ 20,000,000
Line of credit facility, covenants, minimum current ratio	100%			100%
Line of credit facility, establishment fee			$ 500,000
Line of credit, drawdown fee percentage			10%
Line of credit facility, commitment fee percentage			4%
Letter of credit, facility B and C | Macquarie Bank Limited (“Macquarie”)
Other Commitments [Line Items]
Line of credit facility, remaining borrowing capacity				$ 10,000,000
Sweetpea
Other Commitments [Line Items]
Committed at the reporting date but not recognized as liabilities, payable	$ 21,860,137					$ 23,283,360
Number of licenses | license	2			2
Sweetpea | EP 136
Other Commitments [Line Items]
Committed at the reporting date but not recognized as liabilities, payable	$ 13,215,588
Unrecorded unconditional purchase obligation, term			5 years
Sweetpea | EP 143
Other Commitments [Line Items]
Committed at the reporting date but not recognized as liabilities, payable	8,644,549
EP 161
Other Commitments [Line Items]
Committed at the reporting date but not recognized as liabilities, payable	2,487,640					2,649,600
Beetaloo Joint Venture
Other Commitments [Line Items]
Committed at the reporting date but not recognized as liabilities, payable	$ 70,400,212					62,642,340
Number of wells | well	4			4
Beetaloo Joint Venture | EP 76
Other Commitments [Line Items]
Committed at the reporting date but not recognized as liabilities, payable	$ 10,121,584
Beetaloo Joint Venture | EP 98
Other Commitments [Line Items]
Committed at the reporting date but not recognized as liabilities, payable	49,313,576
Beetaloo Joint Venture | EP 117
Other Commitments [Line Items]
Committed at the reporting date but not recognized as liabilities, payable	10,965,052
Midstream
Other Commitments [Line Items]
Committed at the reporting date but not recognized as liabilities, payable	$ 1,195,542					$ 1,971,843

Related Party Transactions (Det

Related Party Transactions (Details)			1 Months Ended		3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 03, 2024	Sep. 18, 2022	Nov. 30, 2024 shares	Jul. 31, 2024 shares	Dec. 31, 2024 USD ($)	Dec. 31, 2024 USD ($) shareholder shares	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jul. 01, 2023
Related Party Transaction [Line Items]
Number of shareholders | shareholder						2
Proceeds from issue of common stock						$ 0	$ 63,811,478
Finance lease payable					$ 23,824,573	$ 23,824,573
Capital Raise (in shares) | shares			312,500	308,750		312,500
Variable interest entity, primary beneficiary | Daly Waters Energy, LP (“DWE”) | Tamboran (B1) Pty Ltd ("TB1")
Related Party Transaction [Line Items]
Joint venture, ownership percentage	50%	50%
Equipment
Related Party Transaction [Line Items]
Term of contract, rig									25 months
Finance Lease, Initial Direct Cost					4,147,721	$ 8,099,387
Finance lease payable					4,065,814	4,065,814
Co-venturer | Variable interest entity, primary beneficiary | Daly Waters Energy, LP (“DWE”) | Beetaloo Basin
Related Party Transaction [Line Items]
Expenditures for which contributions are due					18,782,971	24,951,794
Unpaid cash calls receivable					$ 3,285,517	$ 3,285,517
Equity investment | Majority shareholder
Related Party Transaction [Line Items]
Proceeds from issue of common stock								$ 15,000,000

Subsequent Events (Details)

Subsequent Events (Details) - Tamboran SPCF Pty Ltd (“TR SPCF”) - Subsequent Event	1 Months Ended
	Jan. 31, 2025 AUD ($)
Subsequent Event [Line Items]
Contract with customer, liability	$ 35,300,000
Product liability contingency, third-party recovery, percentage	10%