Australia's Finder Energy up on offshore project development approval

Finder Energy Holdings

09/07/2026 06:38

** Shares of Finder Energy FDR.AX surge nearly 23% to A$0.35, their highest level since June 16
** Shares on track for best day since early Oct 2025
** Oil and gas explorer says Timor-Leste's petroleum regulator has approved field development plan (FDP) for Kuda Tasi and Jahal offshore oil project
** Adds, FDP approval materially de-risks project and clears path to final investment decision (FID) in current quarter
** Adds, financing, contracting and procurement continue in parallel to maintain accelerated development schedule targeting first oil in late 2027 to early 2028
** About 2.2 million shares traded so far, 2.3x 30-day average
** Stock down 12.5% YTD, including session's moves

(Reporting by Subhalakshmi Dey in Bengaluru
)
((Subhalakshmi.Dey@thomsonreuters.com;))