Last week Inpex announced it was farming in to the Beetaloo Basin in a deal with Tamboran’s (“TBN”) partner in its western acreage, Daly Waters Energy. TBN has piggybacked on the deal to farm-down 10k net acres for up to US$28.5mm, which implies US$3k per acre, which is a significant valuation marker. It is a large premium to where Tamboran is currently trading of US$390/acre based on its 2,900k net acre position (post-Falcon completion). We believe this strengthens TBN’s position in its farm ou ....
