Business
Acquisition, funding and operations update
Sunda Energy Plc provided an update on its New Zealand acquisition, reporting that the transition team is working towards an estimated September 2026 completion, with average production for the first five months of 2026 at 1,036 boepd and a full-year forecast of 1,052 boepd. The company also updated on its financing, noting that due to strong oil prices and business performance, it has not drawn down the second tranche of convertible loan notes and is evaluating the need for the third tranche. In Timor-Leste, Sunda is evaluating options regarding the Chuditch-2 appraisal well following a notice of intention to terminate a production sharing contract, and in the Philippines, geoscience studies on SC 80 and SC 81 continue to be encouraging. Disclaimer*
About this update from Sunda Energy Plc
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"). 30 June 2026 Sunda Energy Plc ("Sunda" or "Sunda Energy" or the "Company") Acquisition, funding and operations update Sunda Energy Plc (AIM: SNDA), the AIM-quoted oil & gas company focused on gas assets in the Asia-Pacific region, is pleased to provide an update on the acquisition of a production business in New Zealand, the funding thereof, and its activities in Timor-Leste and the Philippines. New Zealand acquisition update On 8 April 2026, the Company announced the signature of a conditional share sale and purchase Agreement (the "SPA") with Matahio Ventures Pte. Limited (the "Seller") for the acquisition of Matahio NZ (the "Transaction") which, through two subsidiary companies, owns and operates 100% of four petroleum mining permits and one exploration permits (together the "Permits"), located within the onshore area of the Taranaki Basin on the west coast of New Zealand's North Island. Following signature of the SPA, Sunda applied to the New Zealand government for consent for the change of control of the Permits. Productive meetings have been held with New Zealand Petroleum and Minerals, the government regulatory authority, and the approvals process is ongoing. Sunda and the Seller are working collaboratively towards a smooth and seamless handover in anticipation of completion of the Transaction, which the Company currently estimates will be during September 2026. A joint transition team has been established, meets regularly virtually, and has held physical workshops in Matahio NZ's offices in New Plymouth and regional headquarters in Kuala Lumpur, Malaysia. Representatives from the Sunda Energy team cover engineering, HSE (Health, Safety and Environment), finance, geoscience and IT functions. Keith Bush, an independent non-executive director of Sunda, has also visited the offices and facilities in New Zealand to ensure board representation and oversight of the transition process. The transition team is pursuing a detailed handover and integration plan with various discrete and time-bound workstreams. As part of the transition plan, Sunda is now receiving regular updates on all operationa...