Sunda Energy PlcLSE: SNDA

New Zealand exploration permit application

· Issued by Sunda Energy Plc via RNS

Summary by 6ix

Sunda Energy Plc, a gas exploration and appraisal company focused on the Asia-Pacific region, said the 3-month period for competing offers on its application for a petroleum exploration permit in the Awakino area, offshore northern Taranaki Basin in New Zealand, has ended and its application is now exclusive. The permit has not been granted.

Key details

  • Sunda announced on July 14, 2026 that it had submitted the application under New Zealand's open market competitive process.
  • The application area covers approximately 645 km2 and contains the Awakino-1 and Awakino South-1/ST1 gas condensate field (a gas field that also yields light liquids), originally discovered in 1985.
  • The firm committed work programme consists of technical studies of existing well and field data and, within 36 months, reprocessing of 450 km2 of 3D seismic data (underground imaging survey data).
  • Sunda says the programme is designed to map out the gas field for possible future appraisal and development and to evaluate the area's exploration potential.
  • During the competitive period, Sunda held a series of introductory consultation meetings as part of a planned programme of stakeholder engagement.

What’s still pending

  • New Zealand Petroleum and Minerals, the government agency regulating petroleum and mineral resources, will now consider the proposal in detail before deciding whether to grant the permit.
  • The award of the permit and its timing are not guaranteed.

6ix wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/new-zealand-exploration-permit-application

Sunda Energy PLC
14 October 2026
 

14 October 2026

Sunda Energy Plc

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

New Zealand exploration permit application

Sunda Energy Plc (AIM: SNDA), the AIM-quoted exploration and appraisal company focused on gas assets in the Asia-Pacific region, is pleased to update that its application for an exploration permit within the offshore area of the Taranaki Basin on the west coast of New Zealand’s North Island has now become exclusive.

Sunda announced on 14 July 2026 that it had submitted an application under the New Zealand open market competitive process for a new petroleum exploration permit (“PEP”) in the Awakino area, offshore northern Taranaki Basin. The PEP application area, amounting to approximately 645 km2, contains the Awakino-1 and Awakino South-1/ST1 gas condensate field, originally discovered in 1985. In summary, the firm committed programme consists of technical studies of the existing well and field data and, within 36 months, reprocessing of 450 km2 of 3D seismic data. The programme is designed to delineate the gas field for possible future appraisal and development, along with the evaluation of the area’s exploration potential.

Following a 3-month period during which competing offers were invited (which ended today), the PEP application is now exclusive. New Zealand Petroleum and Minerals (“NZPAM”), the government agency responsible for regulating the exploration and development of the Crown’s mineral and petroleum resources, will now consider the proposal in detail before deciding on granting the permit, the award and timing of which are not guaranteed.

During the competitive period, Sunda continued to evaluate technical aspects of the application area. The Company also conducted a series of introductory consultation meetings as part of a planned programme of stakeholder engagement as Sunda seeks to become an active and responsible participant in New Zealand's energy sector.

Dr Andy Butler, Sunda CEO, commented:

“We’re pleased that our application for an offshore exploration permit in the area of the exciting Awakino gas discovery has progressed to the exclusive phase. We look forward to working with the New Zealand authorities as they complete their evaluation of Sunda’s proposal. The Company will make further announcements on our New Zealand initiatives in due course.”

ENDS

For further information, please contact:

Sunda Energy Plc

Andy Butler, Chief Executive

Rob Collins, Chief Financial Officer

Tel: +44 (0) 20 7770 6424

Allenby Capital Limited (Nominated Adviser and Joint Broker)

Nick Athanas, Nick Harriss, Ashur Joseph (Corporate Finance)

Kelly Gardiner (Sales and Corporate Broking)

Tel: +44 (0) 203 328 5656

Hannam & Partners Advisory Limited (Advisor and Joint Broker)

Neil Passmore (Corporate Finance)

Leif Powis (Sales)

Tel: +44 (0) 20 7907 8502

Celicourt Communications (Financial PR and IR)

Mark Antelme, Philip Dennis, Charles Denley-Myerson

Tel: +44 (0) 20 7770 6424

sunda@celicourt.uk

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