Sunda Energy PLC (AIM:SNDA) CEO Andy Butler talked with Proactive about the latest developments at the Chuditch project in Timor-Leste. During the interview, Butler announced that Sunda Energy is making significant progress in securing funding for the project, notably through an exclusivity agreement with Pacific LNG, a private Singaporean company with a strong track record in gas projects within the region.
If secured, the funding will support the drilling of the Chuditch-2 appraisal well, which is expected to commence in 2025.
Butler highlighted the recent operational updates, including the scheduling of an appraisal well for early next year and the continued collaboration with government partners.
Additionally, the CEO discussed the company's new strategic focus, which involves exploring other regional opportunities that complement the scale and materiality of the Chuditch project.
Moreover, Butler confirmed the appointment of Rob Collins, the company's chief financial officer, to the board as part of a broader corporate transition. This move is seen as a key step in strengthening the company’s governance as it progresses with its operational goals.