Falcon Oil & Gas Australia shareholders approve sale of 98.1% stake to Tamboran Resources

Falcon Oil & Gas Australia has received shareholder approval for the sale of Falcon Oil & Gas’ 98.1% stake in the company to Tamboran Resources (ASX:TBN), marking a key step in a broader transaction announced on Sept. 30, 2025.

The acquisition will give Tamboran the right to compulsorily acquire the remaining 1.9% interest held by minority shareholders at a price no less than that paid to Falcon.

The transaction forms part of Tamboran’s plan to acquire all Falcon subsidiaries, subject to shareholder and regulatory approvals, with votes from both companies expected in February.

Completion of the broader deal is anticipated by the end of February, pending a final court order in British Columbia, Canada. Tamboran Chairman and Interim CEO Dick Stoneburner thanked FOGA's minority shareholders for their support and said the company continues to progress the remaining steps toward closing the transaction.

At the time of reporting, Tamboran Resources' share price was $26.70.