Appointment of Two new Non-Executive Directors
Sydney, Sep 28, 2023 AEST (ABN Newswire) - Tamboran Resources Limited (ASX:TBN) (TBNNY:OTCMKTS) has appointed Ms. Stephanie Reed and Mr. Ryan Dalton as Non-Executive Directors to the Board of Tamboran Resources Limited, effective 28 September 2023.
Ms. Reed brings over 15 years of oil and gas experience and serves as Partner of Formentera Partners, the major shareholder of Tamboran's Beetaloo Basin joint venture partner, Daly Waters Energy (DWE), in EPs 76, 98 and 117. She was previously Vice President of Oil & Gas Marketing & Midstream at Pioneer Natural Resources Company (NYSE:PXD) and a senior executive at Parsley Energy with a tenure of more than a decade.
Mr. Dalton brings over 20 years of financial experience including nearly a decade in the oil and gas industry. He most recently served as Executive Vice President, Chief Financial Officer at Parsley Energy. He has a background in corporate finance, strategic planning, public and private capital raising as well as risk management.
The appointments follow an agreement with Mr. Bryan Sheffield, Tamboran's largest shareholder, to appoint two members to Tamboran's Board following a recent capital raise, which was completed in July 2023.
Tamboran's shareholders approved an amendment to the Company's constitution to increase the maximum number of Directors to nine on 21 August 2023.
Tamboran Resources Limited Chairman, Mr. Dick Stoneburner, said:
"We are delighted to be joined by two very knowledgeable Directors who will complement the corporate finance, corporate strategy and business development expertise of our existing Board members.
"Their expertise will be important as we advance our strategy and growth ambitions of the business, which is focused on financing the phased commercialisation of our Beetaloo Basin assets via the Northern Territory, East Coast and LNG markets.
"We look forward to welcoming both Directors to Tamboran's Board."
Ms. Stephanie Reed
Ms. Reed serves as Partner of Formentera Partners. She oversees all aspects of business development, land, geosciences and marketing/midstream at Formentera while additionally assisting with asset management and operations.
She brings with her over 15 years of oil and gas experience. Most recently, Ms. Reed served as Vice President of Oil & Gas Marketing & Midstream at Pioneer Natural Resources Company (NYSE:PXD).
Ms. Reed worked alongside Sheffield for more than a decade at Parsley Energy. Prior to Pioneer, she served as Senior Vice President of Business Development, Land, Marketing & Midstream at Parsley. She has led business development and integration efforts for over US$20 billion in asset value.
Ms. Reed graduated from Texas Tech University with a Master of Business Administration and Bachelor of Applied Science. In 2019, Oil and Gas Investor magazine awarded her with a spot on its distinguished "Forty under 40" list.
Mr. Ryan Dalton
Mr. Dalton has a strong background in finance and energy markets, including corporate finance and strategic planning, having previously served as Executive Vice President, Chief Financial Officer at Parsley Energy from 2012, until being acquired by Pioneer Natural Resources in 2021.
Prior to his role at Parsley, Mr. Dalton served as an investment banker in Rothschild's restructuring group as well as a consultant at AlixPartners. Mr. Dalton earned an undergraduate degree in finance from Southern Methodist University and a Master of Business Administration from the University of Virginia.
About Tamboran Resources Limited
Tamboran Resources Ltd (ASX:TBN) is a natural gas company that intends to play a constructive role in the global energy transition towards a lower carbon future by developing low CO2 unconventional natural gas resources in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. Tamboran's key assets are a 25% working interest in EP 161 and a 100% working interest in EP 136, EP 143 and EP(A) 197 which are located in the Beetaloo Sub-basin.