Operations Update

Sunda Energy PLC

19 June 2026

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("EUWA")) ("UK MAR").

19 June 2026

Sunda Energy Plc

("Sunda" or "Sunda Energy" or the "Company")

Update on status of Chuditch PSC

Sunda Energy Plc (AIM: SNDA), the AIM-quoted exploration and appraisal company focused on gas assets in the Asia-Pacific region, announces that its wholly owned subsidiary SundaGas Banda Unipessoal, Lda. ("SundaGas") yesterday received from Timor-Leste upstream regulator Autoridade Nacional do Petróleo ("ANP") a letter of notice of intention to terminate (the "Notice") the Production Sharing Contract TL-SO-19-16 (the "PSC").

SundaGas operates the PSC in partnership with its government-owned joint venture partner TIMOR GAP Chuditch Unipessoal, Lda. ("TIMOR GAP"). The PSC contains the Chuditch gas field where SundaGas has been preparing to drill the Chuditch-2 appraisal well ("Chuditch-2").

The Notice states that SundaGas is in breach of the PSC in that it has failed to fulfil its minimum exploration work requirements for contract year 3 of the PSC, namely, to drill Chuditch-2 by 18 June 2026 (the "Breach").

Pursuant to the Notice and the PSC, SundaGas is afforded the opportunity to submit written representations to ANP concerning the Breach within 120 days of the Notice, that is 16 October 2026, before ANP makes a final decision on termination at its sole discretion. The Notice also sets out that ANP may consider granting an extension for the period for the fulfilment of the minimum exploration work requirements for contract year 3 of the PSC, provided SundaGas provides evidence of a binding signed contract for a rig to drill Chuditch-2 in calendar year 2027.

The Board of Directors of Sunda disputes the basis of, and background to, the Notice and the Company is consulting with its regulatory and legal advisers with respect to the matters therein. SundaGas has also requested an urgent meeting with ANP for clarifications regarding the contents of the Notice. The Company reserves its rights with respect to these matters.

Further announcements will be made at the appropriate time by the Company.

ENDS

For further information, please contact:

Sunda Energy Plc Andy Butler, Chief Executive Rob Collins, Chief Financial Officer	Tel: [phone]
Allenby Capital Limited (Nominated Adviser and Joint Broker) Nick Athanas, Nick Harriss, Ashur Joseph (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)	Tel: [phone]
Hannam & Partners Advisory Limited (Advisor and Joint Broker) Neil Passmore (Corporate Finance) Leif Powis (Sales)	Tel: [phone]
Celicourt Communications (Financial PR and IR) Mark Antelme, Philip Dennis, Charles Denley-Myerson	Tel: [phone] [e-mail]

 

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