REG - Sunda Energy PLC - Chuditch PSC Extension

Sunda EnergyAnnouncement

17/06/2025 12:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250617:nRSQ2092Na&default-theme=true

RNS Number : 2092N  Sunda Energy PLC  17 June 2025

 

17 June 2025

Sunda Energy Plc

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

 

Chuditch PSC Extension

 

Further to its announcement of 16 June 2025, Sunda Energy Plc (AIM: SNDA), the
AIM-quoted exploration and appraisal company focused on gas assets in
Southeast Asia, announces that its wholly owned Timor-Leste subsidiary
SundaGas Banda Unipessoal, Lda. ("SundaGas") has today received from upstream
regulator Autoridade Nacional do Petróleo a 12-month extension for Contract
Year 3 of the TL-SO-19-16 Production Sharing Contract (the "PSC"). Contract
Year 3 of the PSC will now expire on 18 June 2026.

 

The extension has been granted on the condition that best endeavours are made
by the Company to drill the Chuditch-2 appraisal well within 2025 and the
extension of a bank guarantee to cover the duration of the extension period.

 

Dr Andy Butler, Chief Executive Officer of Sunda, commented:

 

"This extension is encouraging news, giving the Company the time it needs to
put in place the requirements for the revised schedule for the Chuditch-2
appraisal well, which we will endeavour to drill as quickly as possible,
noting that this is likely to be in H1 2026. The extension also preserves the
significant inherent value of the project for Sunda shareholders. We are now
looking forward to working with our partners in the project to progress the
various workstreams towards drilling, benefiting from much of the work having
already been completed"

 

-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, Stefano Aquilino (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

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  FUREAEKXFSFSEFA