Operations Update
Summary by AI BETAClose X
6 November 2026
Sunda Energy Plc
("Sunda" or "Sunda Energy" or the "Company")
Operational update
Sunda Energy Plc (AIM: SNDA), the AIM-quoted exploration and appraisal company focused on gas assets in the Asia-Pacific region, is pleased to provide the following operational update and guidance on its anticipated timelines for key milestones.
New Zealand
In preparation for completion of the Matahio Energy NZ Limited (“Matahio NZ”) acquisition, the Company is working closely with the seller of Matahio NZ to develop operational plans and budgets for 2027, with multiple opportunities targeted for asset improvement and production growth, including drilling of the Oru-2 well. The assets being acquired continue to perform well, with good production levels (average 1,059 barrels of oil equivalent per day (“boepd”) in the 9 months to end September 2026 versus average of 1,028 boepd for calendar year 2025) that brings additional revenues to Matahio NZ in the current high commodity price environment. The effective date of the acquisition is 1 January 2026.
The acquisition of Matahio NZ is pending government consent for the change of control of the assets. The process is ongoing, with good communications with the regulator, New Zealand Petroleum and Minerals (“NZPAM”). Timing is outside of the Company’s direct control and as such further updates will be provided in due course.
Elsewhere in New Zealand, as announced on 14 October 2026, Sunda’s application for an offshore exploration permit containing the Awakino gas field is now exclusive. The detailed evaluation phase has now been commenced by NZPAM, and it is expected that the exploration permit will be awarded late in Q1 or early Q2 2027 although the award and timing cannot be guaranteed.
Timor-Leste
The new expiry date of the current phase of the Production Sharing Contract TL-SO-19-16 (the "PSC") has been confirmed as 16 October 2027, following the Company’s announcement on 19 October 2026 that its wholly owned subsidiary, SundaGas Banda Unipessoal, Lda. ("SundaGas"), had received a 12-month extension (the “Extension”) from Timor-Leste upstream regulator, Autoridade Nacional do Petróleo (“ANP”).
Following receipt of the Extension, negotiations are continuing between SundaGas and government-owned joint venture partner TIMOR GAP Chuditch Unipessoal, Lda. (“TIMOR GAP”) concerning a farm-in by TIMOR GAP for an enlarged working interest in the PSC and the transfer of operatorship to TIMOR GAP. The target for completion of discussions and securing relevant ANP approvals is by the end of 2026.
Finder Energy Holdings Limited (ASX:FDR) (“Finder”) has confirmed that one of the additional optional drilling slots on the Hakuryu-5 rig is in principle earmarked for the Company’s Chuditch-2 appraisal well (“Chuditch-2”). This follows Finder signing a contract in October 2026 for the Hakuryu-5 drilling rig, with additional optional drilling slots to provide flexibility to accommodate other operators. The letter of intent to jointly pursue a rig has expired as it is no longer required. The Company is continuing to work closely with Finder on plans for the drilling campaign for Chuditch-2.
Philippines
The Company is pleased to report good ongoing progress on the various technical evaluations and the seismic reprocessing project. First fast-track reprocessed 3D seismic products are expected during Q1 2027. This follows several technical and commercial joint venture meetings held during October 2026.
Dr Andy Butler, Sunda CEO, commented:
“The Company continues to make positive progress across its various initiatives and, as we approach the end of 2026, our business opportunity portfolio is richer than ever. We look forward to delivering on the multiple targeted milestones and providing regular updates as we do so.”
ENDS
For further information, please contact:
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Sunda Energy Plc Andy Butler, Chief Executive Rob Collins, Chief Financial Officer
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Tel: +44 (0) 20 7770 6424 |
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Allenby Capital Limited (Nominated Adviser and Joint Broker) Nick Athanas, Nick Harriss, Ashur Joseph (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)
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Tel: +44 (0) 203 328 5656 |
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Hannam & Partners Advisory Limited (Advisor and Joint Broker) Neil Passmore (Corporate Finance) Leif Powis (Sales)
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Tel: +44 (0) 20 7907 8502
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Celicourt Communications (Financial PR and IR) Mark Antelme, Philip Dennis |
Tel: +44 (0) 20 7770 6424 sunda@celicourt.uk
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