Bryan Sheffield - Jul 22, 2025 Form 4 Insider Report for Tamboran Resources Corp (TBN)

Role: 10%+ Owner
Signature: /s/ Bryan Sheffield
Stock symbol: TBN
Transactions as of: Jul 22, 2025
Transactions value $: $9,999,985
Form type: 4
Date filed: 7/23/2025, 09:00 PM
Previous filing: May 14, 2025
SEC: View on sec.gov

Reporting Owners (6)

Name	Relationship	Address	Signature	Signature date	CIK
Sheffield Bryan	10%+ Owner	300 COLORADO STREET, SUITE 1900, AUSTIN	/s/ Bryan Sheffield	2025-07-23	0001606914
Sheffield Holdings, LP	10%+ Owner	300 COLORADO STREET, SUITE 1900, AUSTIN	Sheffield Holdings, LP, By: Spraberry Interests, LLC, its general partner, By: /s/ Bryan Sheffield, President	2025-07-23	0002027828
Spraberry Interests, LLC	10%+ Owner	300 COLORADO STREET, SUITE 1900, AUSTIN	Spraberry Interests, LLC, By: /s/ Bryan Sheffield, Manager	2025-07-23	0002027822
Daly Waters Energy, LP	10%+ Owner	300 COLORADO STREET, SUITE 1900, AUSTIN	Daly Waters Energy, LP, By: Formentera Australia Fund I GP, LP, its general partner, By: Formentera Investments LLC, its general partner, By: /s/ Bryan Sheffield, Managing Member	2025-07-23	0002027837
Formentera Australia Fund I GP, LP	10%+ Owner	300 COLORADO STREET, SUITE 1900, AUSTIN	Formentera Australia Fund I GP, LP, its general partner, By: Formentera Investments LLC, its general partner, By: /s/ Bryan Sheffield, Managing Member	2025-07-23	0002027922
Formentera Investments LLC	10%+ Owner	300 COLORADO STREET, SUITE 1900, AUSTIN	Formentera Investments LLC, By: /s/ Bryan Sheffield, Managing Member	2025-07-23	0002027820

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TBN	Common Stock	Purchase	$10M	+564K	+22.02%	$17.74	3.12M	Jul 22, 2025	See footnote	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares were issued to Daly Waters Energy, LP ("Daly Waters") in satisfaction of The shares were purchased by Daly Waters Energy, LP ("Daly Waters") in a private placement (the "PIPE Investment") pursuant to that certain subscription agreement, dated May 12, 2025, by and between the Issuer and Daly Waters. The consummation of the PIPE Investment was subject to certain customary conditions to closing, including the approval of the Issuer's stockholders. The closing conditions were satisfied, and the PIPE Investment closed on July 22, 2025.
F2	Represents 2,247,404 securities held directly by Sheffield Holdings, LP ("Sheffield Holdings") and 876,197 securities held directly by Daly Waters. Spraberry Interests, LLC is the general partner of Sheffield Holdings. Bryan Sheffield is the manager of Spraberry Interests, LLC. As a result, each of Mr. Sheffield and Spraberry Interests, LLC may be deemed to share beneficial ownership of the shares held directly by Sheffield Holdings. Formentera Australia Fund I GP, LP is the general partner of Daly Waters. Formentera Investments LLC is the general partner of Formentera Australia Fund I GP, LP. Bryan Sheffield is the managing member of Formentera Investments. As a result, each of Mr. Sheffield, Formentera Australia and Formentera Investments may be deemed to share beneficial ownership of the shares held directly by Daly Waters. Each Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of its or his pecuniary interest therein, if any.

Content

The shares were issued to Daly Waters Energy, LP ("Daly Waters") in satisfaction of The shares were purchased by Daly Waters Energy, LP ("Daly Waters") in a private placement (the "PIPE Investment") pursuant to that certain subscription agreement, dated May 12, 2025, by and between the Issuer and Daly Waters. The consummation of the PIPE Investment was subject to certain customary conditions to closing, including the approval of the Issuer's stockholders. The closing conditions were satisfied, and the PIPE Investment closed on July 22, 2025.

Represents 2,247,404 securities held directly by Sheffield Holdings, LP ("Sheffield Holdings") and 876,197 securities held directly by Daly Waters. Spraberry Interests, LLC is the general partner of Sheffield Holdings. Bryan Sheffield is the manager of Spraberry Interests, LLC. As a result, each of Mr. Sheffield and Spraberry Interests, LLC may be deemed to share beneficial ownership of the shares held directly by Sheffield Holdings. Formentera Australia Fund I GP, LP is the general partner of Daly Waters. Formentera Investments LLC is the general partner of Formentera Australia Fund I GP, LP. Bryan Sheffield is the managing member of Formentera Investments. As a result, each of Mr. Sheffield, Formentera Australia and Formentera Investments may be deemed to share beneficial ownership of the shares held directly by Daly Waters. Each Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of its or his pecuniary interest therein, if any.