Further to its announcement of 16 June 2025, Sunda Energy, the AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia, has announced that its wholly owned Timor-Leste subsidiary SundaGas Banda Unipessoal, Lda. ('SundaGas') has 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. 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'.
Source: Sunda Energy
