Billionaire Seth Klarman’s 10 Stock Picks with Huge Upside Potential

2. Tamboran Resources Corporation (NYSE:TBN)

Upside Potential as of April 29: 66.48%

Baupost Group’s Stake Value: $11,982,000

Tamboran Resources Corporation (NYSE:TBN) is an Australian natural gas explorer and producer. It develops low-carbon dioxide (CO₂) unconventional gas resources and serves the energy sector in Australia and the Asia-Pacific region.

In Q2 FY25, Tamboran Resources Corporation (NYSE:TBN) achieved several significant operational milestones. It reported the successful drilling, casing, and cementing of the SS-3H well with a 10,000-foot horizontal section in just 25 days. This is a 43% increase in drilling speed compared to the previous SS-2H well. The company also completed the SS-2H ST1 well across 35 stages, delivering record proppant intensity for the basin with an average of approximately 2,710 pounds per foot (lb./ft)—26% higher than previous wells.

Beyond its immediate operational activities, Tamboran Resources Corporation (NYSE:TBN) is strategically positioning itself for long-term growth. The firm has entered binding agreements with APA Group for the construction, ownership, and operation of a 12-inch Sturt Plateau Pipeline. This project is critical for the proposed SS Pilot Project. Additionally, Tamboran (NYSE:TBN) has signed a non-binding memorandum of understanding with Santos to explore potential Darwin LNG Train 2 expansion and collaboration in their joint EP 161 asset. Analysts hold a Buy rating with a 1-year average price target of $34.67. This projection points to a 66.48% upside potential from the current levels as of April 29.