Australia's Finder Energy hits record high on new farm-in deal for Timor-Leste project

Finder Energy Holdings

25/09/2025 02:09

** Shares of Finder Energy FDR.AX rise as much as 170.3% to A$0.500, their highest level ever

** Oil and gas firm says its unit entered into a farmin agreement with its joint venture partner, a unit of the National Oil Company of Timor-Leste

** Under the agreement, the National Oil Company of Timor-Leste will contribute 50% of the total development capex for the Kuda Tasi and Jahal oil fields project in Timor-Leste from final investment decision up to a gross cap of $338 million

** Stock posts its biggest intraday pct gain ever

** Over 12 million shares change hands, almost 14 times its 30-day average

** Stock currently up 122%, bringing YTD gains to over 950%

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))