Falcon Oil & Gas subsidiary company, Falcon Oil & Gas Australia, held a General Meeting in Brisbane, Australia on 30 December 2025.
At the General Meeting shareholders approved the sale of Falcon’s 98.1% interest in Falcon Australia to Tamboran Resources Corporation. Falcon and its associates were excluded from voting on the relevant resolutions.
The sale is part of a broader transaction whereby, as previously announced, Tamboran group will acquire all of the subsidiary companies of Falcon, subject to various regulatory and shareholder approvals.
Acquisition of the 98.1% interest in Falcon Australia will provide Tamboran group with the option of compulsorily acquiring all the remaining shares in Falcon Australia held by minority shareholders. Tamboran group has undertaken to proceed with the compulsory acquisition from minority shareholders at a price no less than the price being paid to Falcon for its interest in Falcon Australia.
Philip O’Quigley, CEO of Falcon commented:
'While the broader transaction is still subject to regulatory and shareholder approvals, this approval by Falcon Australia shareholders eliminates one of the key conditions precedent allowing Tamboran group to proceed with the broader transaction, which is still on track to close in the first quarter of this year'.
Source: Falcon Oil & Gas
