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Tamboran Resources Wins Favorable Federal Court Ruling for Northern Territory Gas Project; Shares Down 8%

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Tamboran Resources (ASX:TBN) secured a victory in a case brought by Lock the Gate Alliance against its Northern Territory Beetaloo Basin project as the Federal Court dismissed the proceedings with costs, according to a Friday court document.

Lock the Gate Alliance is a group of environment campaigners that brought forward concerns related to the water-intensive and controversial mining process called fracking.

The court said it was not satisfied that Tamboran's operations constitute an unconventional gas development or that they will have a significant impact on a water resource.

Lock the Gate Alliance did not immediately respond to' request for comment.

Tamboran Resources' shares fell past 8% in recent Thursday trade.

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