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NEW YORK - Tamboran Resources Corporation (NYSE: TBN, ASX: TBN), a prominent player in the Australian energy sector with a market capitalization of $310 million, has announced the appointment of Mr. Jeff Bellman as a Non-Executive Director to its Board, effective as of Monday. According to InvestingPro analysis, the company maintains a FAIR financial health score, with the advantage of holding more cash than debt on its balance sheet. With a distinguished 33-year career in investment management, Bellman is recognized for his expertise in the global public oil and gas sector.
Mr. Bellman’s extensive experience includes a recent 12-year tenure as Managing Director at Nuveen Investments, a TIAA-CREF company, where he managed equity portfolios and developed strong ties with management teams throughout various energy cycles. His academic credentials include a Bachelor of Arts and a Master in Business Administration from the University of Chicago.
The appointment comes at a strategic time for Tamboran, as the company is gearing up for the first production from its Beetaloo Basin assets. While analyst price targets range from $31 to $53, suggesting significant upside potential, InvestingPro data indicates the company is currently burning through cash rapidly. Chairman Mr. Dick Stoneburner expressed confidence that Bellman’s background will bolster the Board’s capabilities, particularly in financing the commercialization of the company’s assets. (Discover 5 more exclusive InvestingPro Tips about TBN’s financial position.)
In addition to his board role, Bellman will serve on the Audit & Risk and Sustainability Committees, contributing his financial and sector-specific insights to Tamboran’s governance structures.
Tamboran Resources Corporation is the largest acreage holder and operator in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. With a current ratio of 1.77, the company maintains strong liquidity to meet its short-term obligations, though InvestingPro analysis suggests the stock may be trading above its Fair Value. The company’s significant holdings include a 38.75% working interest in EPs 98, 117, and 76, full ownership and operatorship in EP 136, and a 25% non-operated working interest in EP 161.
As part of its expansion strategy, Tamboran has secured approximately 420 acres of land at the Middle Arm Sustainable Development Precinct in Darwin, earmarked for the proposed NTLNG project. Currently, pre-FEED activities are being conducted by the Bechtel Corporation.
This appointment marks a notable addition to Tamboran’s leadership as the company advances its operational and sustainability objectives. The information in this article is based on a press release statement from Tamboran Resources Corporation.
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