Tamboran Resources Corporation

Issuer

Tamboran Resources Corporation

Security title

Common Stock, par value $0.001 per share

Principal address

Comment

This Amendment No. 7 ("Amendment No. 7") amends and supplements the statement on Schedule 13D filed by the undersigned on July 8, 2024 (the "Original Schedule 13D"), as amended by Amendment No. 1 filed on May 14, 2025 ("Amendment No. 1"), Amendment No. 2 filed on July 23, 2025 ("Amendment No. 2"), Amendment No. 3 filed on July 29, 2025 ("Amendment No. 3"), Amendment No. 4 filed on November 17, 2025 ("Amendment No. 4"), Amendment No. 5 filed on February 13, 2026 ("Amendment No. 5"), and Amendment No. 6 filed on April 14, 2026 ("Amendment No. 6", together with the Original Schedule 13D, Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4 and Amendment No. 5, the "Schedule 13D") as specifically set forth herein. Amendment No. 7 is filed by (i) Bryan Sheffield, (ii) Sheffield Holdings, LP, a Texas limited partnership ("Sheffield Holdings"), (iii) Spraberry Interests, LLC, a Delaware limited liability company ("Spraberry"), (iv) Daly Waters Energy, LP, a Delaware limited partnership ("Daly Waters"), (v) Formentera Australia Fund I GP, LP, a Delaware limited partnership ("Formentera Australia"), and (vi) Formentera Investments LLC, a Delaware limited liability company ("Formentera Investments"), (each, a "Reporting Person" and, collectively, the "Reporting Persons"), relating to the shares of the common stock, par value $0.001 per share (the "Common Stock"), of Tamboran Resources Corporation, a Delaware corporation (the "Issuer"). Capitalized terms used herein and not otherwise defined in this Amendment No. 7 have the meanings set forth in the Schedule 13D.

Number of shares

The information set forth in Items 7-10 on each of the cover pages of this Amendment No. 7 are incorporated by reference into this Item 5(b). References herein to percentage ownerships of Common Stock are based on 34,960,006 shares of Common Stock of the Issuer issued and outstanding as of September 23, 2026, as set forth in the Issuer's Annual Report on Form 10-K for the year ended June 30, 2026, which was filed with the Commission on September 25, 2026. In this regard, this Amendment No. 7 is being filed to report a greater than 1% decrease in certain of the Reporting Persons' beneficial ownership that was due solely to the increase in outstanding shares of Common Stock as disclosed by the Issuer.

Transactions

Except as otherwise disclosed in this Amendment No. 7, the Reporting Persons have effected no transactions in Common Stock within the prior 60 days.

Other persons with an interest

None

Date ownership ceased to exceed 5%

N/A

Percentage of class

Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows: The information set forth in Item 11 and Item 13 on each of the cover pages of this Amendment No. 7 are incorporated by reference into this Item 5(a). Sheffield Holdings is the record holder of 2,586,904 shares of Common Stock. Spraberry is the general partner of Sheffield Holdings. Bryan Sheffield is the manager of Spraberry. As a result, each of Mr. Sheffield and Spraberry may be deemed to share beneficial ownership of the shares held directly by Sheffield Holdings. In addition to the shares held by Sheffield Holdings, Mr. Sheffield, as investment trustee, may be deemed to beneficially own shares held by the Bryan S. Sheffield Spousal Lifetime Access Trust ("BSS SLAT"). In this regard, after giving effect to closing of the Institutional Entitlement Offer (as defined below), BSS SLAT is the record holder of 183,655 shares of Common Stock. Daly Waters is the record holder of 876,197 shares of Common Stock. Formentera Australia is the general partner of Daly Waters. Formentera Investments is the general partner of Formentera Australia. Bryan Sheffield is the managing member of Formentera Investments. As a result, each of Mr. Bryan Sheffield, Formentera Australia and Formentera Investments may be deemed to share beneficial ownership of the shares held directly by Daly Waters.

Sheffield Holdings, LP By: Spraberry Interests, LLC, its general partner Daly Waters Energy, LP By: Formentera Australia Fund I GP, LP, its general partner By: Formentera Investments LLC, its general partner Formentera Australia Fund I GP, LP By: Formentera Investments LLC, its general partner