REG - Sunda Energy PLC - Business Update

Sunda EnergyAnnouncement

13/08/2025 07:00

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RNS Number : 0735V  Sunda Energy PLC  13 August 2025

 

13 August 2025

Sunda Energy Plc

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

 

Business Update

 

Sunda Energy Plc (AIM: SNDA), the AIM-quoted exploration and appraisal company
focused on gas assets in Southeast Asia, is pleased to provide updates on its
existing business and new venture activities.

 

Timor-Leste

Following the announcement on 16 June 2025 of the postponement of drilling of
the Chuditch-2 well by its wholly owned Timor-Leste subsidiary SundaGas Banda
Unipessoal, Lda. ("SundaGas"), the Company has been engaged with the
Timor-Leste authorities concerning the realisation of the drilling campaign,
likely to be in H1 2026. Dr Andy Butler, CEO and Mr Gerry Aherne, Chairman,
visited Dili in July and held a number of meetings, including with the
Minister of Petroleum and Mineral Resources, upstream regulator Autoridade
Nacional do Petróleo ("ANP") and state-owned joint venture partner TIMOR GAP.
Discussions were constructive and positive, with all parties committed to
completing drilling preparations and executing the campaign on the revised
timeline.

 

SundaGas has now received a revised proposal from the Timor-Leste helicopter
company for support of the planned offshore drilling operations at Chuditch
and is currently in the process of reviewing this proposal and seeking
clarifications. The Company is also engaged with a number of rig operators in
preparation for a full tender exercise to enable the retimed drilling
campaign.

 

The process of securing an Environmental Permit continues. SundaGas has
received a formal response and recommended changes to the Environmental Impact
Statement ("EIS") and Environmental Management Plan ("EMP") from the
Evaluation Committee, made up of ANP and other stakeholders. The requested
actions are currently being addressed by the Company and its environmental
consultants, and updated drafts of the EIS and EMP are currently expected to
be submitted during September 2025.

 

Philippines

Sunda's applications for two blocks in the Sulu Sea, offshore Philippines,
remain outstanding, pending final Presidential signature. The Company
participated in meetings in Manila during July and its joint venture operator
and Philippines partners met with the Philippines authorities in early August.
It is understood that there are now nine new Service Contracts pending
signature, including the two in which Sunda will participate, and there is an
expectation that these will all be signed in the near future, as a trigger for
renewed oil and gas activities in the Philippines. The Company remains excited
about the potential of its two application blocks and is eager to commence
activities in the area. Detailed descriptions of the blocks will be provided
following award.

 

New Business Activities

As part of Sunda's growth plans, as well as the desire to expand and diversify
its upstream portfolio, the Company is actively engaged in the pursuit of a
number of new business initiatives. The target opportunities are potentially
material and would be highly impactful to Sunda if secured. Further details
will be provided at the appropriate time if any of these new business
activities are successful.

 

Dr Andy Butler, CEO of Sunda, commented:

"The Company is focussed on delivering on the revised timeline for drilling of
the Chuditch well in Timor-Leste, as well as delivering on a number of
exciting new venture initiatives. Despite the setback of the drilling
postponement, the team is fully engaged, and we look forward to significant
progress in the coming months. We are committed to providing further
information on our progress in Timor-Leste and with other new business
initiatives, including through interviews and investor events, as soon as we
are able to do so."

 

Mr Gerry Aherne, Chairman of Sunda, added:

"It was good to have positive meetings with the Minister of Petroleum, our
partners TIMOR GAP and the various government authorities on my recent
Timor-Leste visit. I was able to experience first-hand the strong shared
commitment to develop the Chuditch project and the dedication of the Sunda
Energy team in Dili."

 

-ENDS-

 

 

For further information, please contact:

 

 Sunda Energy Plc                                                   Tel: +44 (0) 20 7770 6424

 Andy Butler, Chief Executive

 Rob Collins, Chief Financial Officer

 Allenby Capital Limited (Nominated Adviser and Joint Broker)       Tel: +44 (0) 203 328 5656

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

 Kelly Gardiner (Sales and Corporate Broking)

 Hannam & Partners Advisory Limited (Advisor and Joint Broker)      Tel: +44 (0) 20 7907 8502

 Neil Passmore (Corporate Finance)

 Leif Powis (Sales)

 Celicourt Communications (Financial PR and IR)                     Tel: +44 (0) 20 7770 6424

 Mark Antelme, Philip Dennis, Charles Denley-Myerson                sunda@celicourt.uk

 

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