Sunda Energy PLC (AIM:SNDA) has today filed results for 2024, which chair Gerry Aherne described as a “year of tremendous change”.
“With significant changes to the board, management and direction, it made sense to change the name,” Aherne said in the annual results statement.
“Sunda Energy is now a company truly focused on Southeast Asia, and in particular gas projects in that region.
“The company has built on its exciting and valuable asset in Timor-Leste, putting together a highly experienced operating team and evaluating a pipeline of material new venture opportunities across the region.”
It comes as the management team is now advancing preparations for the planned well at the Chuditch gas project, where a successful well test promises to unlock a commercial gas development.
In terms of financials, the pre-revenue small-cap reported a £2.05 million loss for the year, and said it ended 2024 with £3.2 million in cash.