Macquarie raises Tamboran Resources' PT on new rig ops, govt support

Tamboran Resources

15/09/2023 05:40

** Macquarie raises Tamboran Resources'  TBN.AX  price
target on strong new rig operations and Northern Territory (NT)
govt support
    ** Brokerage raises PT by 17% to A$0.35/shr, maintains
"outperform" rating
    ** Macquarie says "impressed" by TBN's new drilling
operations at Shenandoah South-1H at its Beetaloo basin & Darwin
infrastructure
    ** "TBN is well supported by NT, and in the EP98/EP117 area
land access is not an issue" - Macquarie 
    ** Shares of TBN up 8% at A$0.135
    ** Stock down ~48% this year, as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))