Sunda Energy, the AIM-quoted exploration and appraisal company focused on gas assets in the Asia-Pacific region, has submitted an application for a new Petroleum Exploration Permit ('PEP') within the offshore area of the Taranaki Basin on the west coast of New Zealand's North Island. The PEP, which covers approx. 645 km2, contains the Awakino gas condensate field which was originally drilled in 1985.
Following the Company's announcement on 8 April 2026 of the conditional acquisition of Matahio Energy NZ Limited ('Matahio NZ'), Sunda intends to pursue a wider growth strategy in New Zealand focused on gas exploration, development and production opportunities, both inside and outside the Matahio NZ permits. This PEP application represents a key step in executing that strategy.
If successful, the firm commitment programme offered under the application 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.
The PEP application has been accepted by New Zealand Petroleum and Minerals ('NZPAM'), the government agency responsible for regulating the exploration and development of the country's Crown-owned mineral and petroleum resources, for entry into its open market competitive process and now enters a 3-month period during which competing offers are invited. Following the Period of Competition, NZPAM will assess the application, and any competing offers, before making a final decision on the permit award.
Further details of the proposed work programme and information on the application process can be found on the NZPAM website at https://www.nzpam.govt.nz/permits/petroleum/open-market-competitive-process.
Dr Andy Butler, Sunda CEO, commented:
'Sunda's application for an exploration permit covering the existing nearshore Awakino gas discovery further demonstrates our intent to grow a meaningful business in New Zealand in tandem with the previously announced conditional acquisition of the Matahio NZ production business. This application is consistent with the current New Zealand Government's policy direction to support domestic gas supply and energy security. We look forward to making further announcements on our New Zealand initiatives in due course.'
Source: Sunda Energy
