Sept 30 (Reuters) - Australian natural gas producer

Tamboran Resources ( TBN ) has inked an agreement to acquire

Irish oil and gas firm Falcon Oil & Gas ( FOLGF ) in a

cash-plus-stock deal valued at C$239 million ($171.81 million),

the two companies said on Tuesday.

The deal aims to bolster Tamboran's foothold in the Beetaloo

basin in Australia's Northern Territory, an area known for its

vast natural gas potential and underscores growing interest in

its untapped resources, with exploration activities expected to

accelerate in the coming years.

The firm would consolidate its presence in the region by

creating a 2.9 million acre business in the basin, through the

deal.

Under the agreement, Tamboran will take over all of Falcon's

subsidiaries by issuing 6.5 million shares of its U.S.-listed

stock alongside a cash payment of $23.7 million. The deal values

Falcon's subsidiaries at an implied offer price of C$0.2154

apiece, a 19.7% premium to Falcon's last close.

"Upon closing of the transaction, Falcon shareholders will

benefit from the increased exposure to the critically important

pilot development currently underway in the Beetaloo," Falcon

CEO Philip O'Quigley said.

The boards of both companies have unanimously supported the

deal, which is expected to close in the first quarter of 2026,

subject to shareholder and regulatory approvals.

On completion, Falcon shareholders would own around 26.8% of

the business with Tamboran owning the remaining 73.2%.

($1 = 1.3911 Canadian dollars)

(Reporting by Rajasik Mukherjee in Bengaluru; Editing by

Mrigank Dhaniwala)