Variable Interest Entities (Tables)

3 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Carrying Amounts of Assets and Liabilities

The following table summarizes the carrying amounts of TB1’s assets and liabilities included in the Group’s

condensed consolidated balance sheet as of September 30, 2025 and June 30, 2025 (in thousands):

	September 30, 2025	June 30, 2025
ASSETS
Current assets
Cash and cash equivalents	$13,109	$3,729
Trade and other receivables:
Joint interest billing	1,763	8,191
Intercompany receivable	—	1,934
ATO receivable	1,118	722
Other receivable	179	113
Prepaid expenses and other current assets	205	—
Total current assets	16,374	14,690
Natural gas properties, successful efforts method:
Unproved properties	321,815	285,631
Operating lease right-of-use-assets	2,739	—
Finance lease right-of-use assets	14,144	16,544
Prepaid expenses and other non-current assets	2,081	2,026
Total non-current assets	340,779	304,201
TOTAL ASSETS	$357,153	$318,891
LIABILITIES
Current liabilities
Accounts payable and accrued expenses	$21,163	$12,507
Current portion of operating lease obligations	2,063	—
Current portion of finance lease obligations	14,782	15,307
Total current liabilities	38,008	27,814
Operating lease obligations	722	—
Finance lease obligations	6,561	9,523
Asset retirement obligations	5,370	5,127
Loan from Group	180,361	163,016
Total non-current liabilities	193,014	177,666
TOTAL LIABILITIES	$231,022	$205,480

The following table summarizes the carrying amounts of SPCF Sub Trust’s assets and liabilities included in the

Group’s condensed consolidated balance sheet as of September 30, 2025:

	September 30, 2025	June 30, 2025
ASSETS
Current assets
Cash and cash equivalents	$5,940	$1,935
Trade and other receivables:
ATO receivable	262	123
Loan to Tamboran	—	1,124
Total current assets	6,202	3,182
Natural gas properties, successful efforts method:
Assets under construction - natural gas equipment	34,868	24,441
Prepaid expenses and other non-current assets	716	—
Total non-current assets	35,584	24,441
TOTAL ASSETS	$41,786	$27,623
LIABILITIES
Current liabilities
Accounts payable and accrued expenses	$6,860	$4,364
Advance against joint interest billings	1,943	450
Intercompany Payable	2,207	1,338
Total current liabilities	11,010	6,152
Asset retirement obligations	98	95
Total non-current liabilities	98	95
TOTAL LIABILITIES	$11,108	$6,247