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Tamboran Resources Corp

For the period ended Sep 30, 2025. Filed Nov 13, 2025.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 13, 2025

TBN$28.90+3.0%Stored close · as of Nov 6, 2026

What changed in Risk Factors?

Read the current filing

Previous report: 10-Q

Period ended 2025-03-31; filed 2025-05-14.

0001628280-25-025261

Item 1A. Risk Factors

Current report: 10-Q

Period ended 2025-09-30; filed 2025-11-13.

0001628280-25-052026

Item 1A. Risk Factors

The baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.

Compared 3 previous paragraphs and 101 current paragraphs.

3 unchanged; 0 reworded; 98 added; 0 removed; 0 previous and 0 current paragraphs rearranged.

Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.

A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.

The current filing states there were no material changes to risk factors.

This is the filer’s own statement, not a conclusion from the comparison. Read its qualifications and the report it references.

Current filing’s statement

There have been no material changes in risk factors for the quarterly period ended September 30, 2025 from those
Added paragraphs (98)

Current report

Risks Related to the Pending Falcon Acquisition

Current report

The market price for our common stock and CDIs following the closing of the Falcon Acquisition may be affected by

Current report

factors different from those that historically have affected or currently affect our common stock and CDIs.

Current report

Our financial position may differ from our financial position before the completion of the Falcon Acquisition, and the

Current report

results of operations of the combined company may be affected by some factors that are different from those currently

Current report

affecting our results of operations. Accordingly, the market price and performance of our common stock and CDIs is likely

Current report

to be different from the performance of our common stock and CDIs in the absence of the Falcon Acquisition. In addition,

Current report

general fluctuations in stock markets could have a material adverse effect on the market for, or liquidity of, our common

Current report

stock and CDIs, regardless of our actual operating performance.

Current report

Our existing stockholders will have reduced ownership in the combined company following consummation of the

Current report

Falcon Acquisition.

Current report

Immediately following consummation of the Falcon Acquisition, based on the number of shares of common stock

Current report

outstanding as of the date of the Arrangement Agreement and the issuance of the Stock Consideration as contemplated by

Current report

the Arrangement Agreement, our existing stockholders would own approximately 73% of the outstanding shares of the

Current report

combined company and Falcon’s existing stockholders would own approximately 27% of the outstanding shares of the

Current report

combined company. As a result, our current stockholders will have less influence on the policies of the combined company

Current report

than they currently have on our policies.

Current report

We may not consummate the Falcon Acquisition.

Current report

We may not consummate the Falcon Acquisition, which is subject to the satisfaction of closing conditions. These

Current report

conditions include, but are not limited to, (a) the approval of the Falcon Acquisition by at least 66 2⁄3% of the votes cast by

Current report

Falcon shareholders and, if required by applicable Canadian securities laws, a simple majority of the votes cast by Falcon

Current report

shareholders, excluding Falcon common shares held by persons required to be excluded under such laws, at a meeting of

Current report

Falcon shareholders, (b) the approval of the issuance of the Stock Consideration by a majority of the votes cast by our

Current report

stockholders at a meeting of our stockholders, (c) the approval of the Falcon Acquisition by the Supreme Court of British

Current report

Columbia on terms consistent with the Arrangement Agreement and otherwise reasonably satisfactory to the parties, (d) the

Current report

authorization for listing of the Stock Consideration on the NYSE and (e) the absence of any law or order enjoining,

Current report

restricting or prohibiting the consummation of the transactions contemplated by the Falcon Acquisition. Neither we nor

Current report

Falcon can predict when, or if, these conditions will be satisfied. If any of these conditions are not satisfied or waived prior

Current report

to the outside date, it is possible that the Falcon Acquisition may be terminated. Although we have agreed with Falcon to

Current report

use reasonable best efforts, subject to certain limitations, to promptly complete the Falcon Acquisition, these and other

Current report

conditions to the completion of the Falcon Acquisition may fail to be satisfied. In addition, satisfying the conditions to and

Current report

completion of the Falcon Acquisition may take longer, and could cost more, and require additional borrowings, than we

Current report

currently expect. There can be no assurance that such conditions will be satisfied or that the Falcon Acquisition will be

Current report

consummated on the terms currently contemplated or at all. If additional borrowings are required to consummate the

Current report

Falcon Acquisition, our total debt and leverage will be greater than currently anticipated.

Current report

Failure to complete the Falcon Acquisition could negatively impact our stock price and have a material adverse effect

Current report

on our results of operations, cash flows and financial position.

Current report

If the Falcon Acquisition is not completed for any reason, including as a result of failure to obtain all requisite

Current report

regulatory approvals or Falcon’s stockholders fail to approve the applicable requisite proposals, we may be materially and

Current report

adversely affected and, without realizing any of the benefits of having completed the Falcon Acquisition, we would be

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