07:08 AM EDT, 09/30/2025 (MT Newswires) -- Tamboran Resources ( TBN ) said Tuesday that it has entered a definitive agreement to acquire Falcon Oil & Gas for about 6.5 million common shares and $23.7 million in cash, valuing the company at about $172 million.

Upon completion, Falcon shareholders will receive 0.00687 of Tamboran common shares for each Falcon common stock. As a result, Falcon shareholders will own about 26.8% of Tamboran.

The transaction has been unanimously approved by the board of directors of both companies and is expected to close in Q1 of 2026.

Tamboran shares were up more than 20% in recent Tuesday premarket activity.