TBN

Analyst Rating: RBC Capital's Scott Hanold maintains a Hold rating on Tamboran Resources Corporation (TBN) with a price target of $31.00, while the stock closed at $23.26.

Market Consensus: The overall analyst consensus for TBN is a Moderate Buy with an average price target of $34.67, and Hanold is recognized as a top analyst in the Energy sector.

Successful Stimulation Operations: Tamboran Resources completed stimulation activities over 35 stages in the Shenandoah South 2H well, achieving record proppant intensity and wellhead injection rates in the Beetaloo Basin.

Future Plans: The company will focus on completing the SS-2H ST1 well and preparing for initial flow back and extended production testing, with updates on the Shenandoah South 3H well expected soon.

Stimulation Activities in Beetaloo Basin: Tamboran has initiated stimulation activities for the SS-2H ST1 and SS-3H wells in the Beetaloo Basin, planning to conduct up to 119 stimulation stages using advanced equipment from Liberty Energy, which is expected to enhance stimulation efficiency significantly.

Production Goals and Experience: The wells aim to provide reliable energy to the Northern Territory, contributing to the proposed Shenandoah South Pilot Project, with Tamboran expressing confidence in their ability to safely execute these operations based on previous successful campaigns.

Collaboration for LNG Expansion: Tamboran Resources Corporation has entered a non-binding Memorandum of Understanding with Santos Limited to explore the potential expansion of the Darwin LNG facility, focusing on developing Train 2 to increase capacity by approximately 6 million tons per annum.

Economic and Resource Development: The partnership aims to leverage the Beetaloo Basin's gas resources for commercialization, which could benefit the Northern Territory through job creation and royalties while positioning Tamboran to supply both domestic and international gas markets.

Partnership Announcement: Tamboran Resources Corporation and Santos Limited have signed a non-binding Memorandum of Understanding to explore the potential expansion of the Darwin LNG facility and collaborate on natural gas supply from the Beetaloo Basin.

Resource Potential: Tamboran holds significant gas resources in the Beetaloo Basin, with plans to supply both domestic and international markets, while also aiming to create jobs and generate royalties for local communities.

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Vincerx Pharma Merger Announcement: Vincerx Pharma's shares surged 63.9% in pre-market trading after announcing a strategic merger with Oqory, Inc., indicating strong investor interest.

Stock Movements: Several stocks experienced significant pre-market gains and losses, with Intrusion Inc. leading the gainers at 120%, while CEL-SCI Corporation faced the largest drop at 43.3%.

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Pipeline Project Announcement: Tamboran Resources Corporation and Daly Waters Energy have signed agreements with APA Group to construct the 12-inch Sturt Plateau Pipeline, which will connect to the Amadeus Gas Pipeline, facilitating gas supply for the Shenandoah South Pilot Project expected to commence operations in 2026.

Commitment to Environmental Standards: Tamboran's CEO emphasized the company's dedication to providing reliable energy while adhering to high environmental standards and collaborating with Native Title Holders, as they prepare for natural gas production under a long-term agreement with the Northern Territory Government.

Financial Overview: Tamboran Resources Corporation reported a net loss of $6.76 million for Q1, primarily due to exploration expenses, but achieved a total comprehensive income of $5.39 million thanks to foreign currency gains, with total assets rising to $381.22 million.

Future Outlook: The company aims to secure additional capital to support its exploration projects and is focused on transitioning towards potential revenue generation in the future.

Earnings Release Announcement: Tamboran Resources Corporation will release its fourth quarter earnings and operational update on November 12, 2024, before the NYSE market opens.

Webcast Details: CEO Joel Riddle will host a live audio webcast at 8:00am ET to discuss operations in the Beetaloo Basin, followed by a Q&A session with analysts.

Tamboran Resources Corporation: RBC Capital analyst Scott Hanold maintains a Hold rating on Tamboran with a price target of $31.00, while the analyst consensus is a Strong Buy with a higher price target of $37.75.

Whitecap Resources: Analyst Michael Harvey from RBC Capital keeps a Buy rating for Whitecap Resources with a price target of C$14.00, and the overall analyst consensus also indicates a Strong Buy with an average price target suggesting a 24.5% upside.

Overview of Australia's Economic Situation: Australia's economy is growing slowly, with a GDP increase of only 0.2% for the June quarter and an annual growth rate of 1%, while inflation remains high at 3.5%. Despite these challenges, wages are rising steadily, and sectors like resources and energy are gaining investor interest due to favorable conditions.

Tamboran Resources as a Key Investment: Tamboran Resources (NYSE:TBN) is highlighted as a significant player in the natural gas sector, controlling extensive land in the Beetaloo Sub-basin and securing a long-term gas supply agreement with the Northern Territory Government. The company ranks 4th among the best ASX stocks to invest in currently, although AI stocks are suggested as potentially more promising investments.

Earnings Release Announcement: Tamboran Resources Corporation will release its fourth quarter earnings and operational update on September 20, 2024, before the NYSE market opens.

Webcast Details: CEO Joel Riddle will host a live webcast at 8:00am ET to discuss operations in the Beetaloo Basin, followed by a Q&A session with analysts, accessible via the company's website.

Tamboran Resources Corporation Drilling Program: Tamboran Resources is set to begin its 2024 drilling program in the Beetaloo Basin, featuring the longest horizontal wells and the largest single campaign to date, utilizing advanced stimulation equipment from the US.

Strategic Partnerships and Risks: The company emphasizes its strategic partnerships with H&P and Liberty for operational support while acknowledging various risks related to financial performance, regulatory challenges, and the speculative nature of drilling activities.

Worst Performing Stocks: Eight large-cap stocks experienced significant declines last week, with Tamboran Resources Corporation falling 13.84% and Gold Fields Limited down 12.37%, amidst various sector-specific challenges and disappointing earnings reports.

Market Reactions: Other notable declines included Snowflake Inc. (-10.82%), NetEase, Inc. (-9.30%), and JD.com, Inc. (-7.74%), driven by factors such as lowered analyst price targets, poor sales results, and corporate divestitures.

Top Performing Stocks: The best-performing large-cap stocks last week included Starbucks (up 24.08%), Super Micro Computer (up 23.06%), and Dell Technologies (up 20.72%), driven by leadership changes, significant share purchases, and analyst upgrades.

Market Trends: Semiconductor stocks like NVIDIA and Micron also saw gains due to overall market strength and favorable economic indicators, while auto-related stocks benefited from increased July sales.

Stimulation Activities in Beetaloo Basin: Tamboran has started stimulation activities for the Shenandoah South 2H and 3H wells, planning to pump up to 119 stages using advanced equipment from Liberty Energy, which is expected to enhance efficiency and proppant intensity.

Future Production Plans: The wells are anticipated to contribute to energy supply in the Northern Territory, with production aimed at supporting the proposed Shenandoah South Pilot Project, marking a significant step in Tamboran's operational efforts in the region.