Sunda Energy PLC (AIM:SNDA) has updated on its operations in Timor-Leste, where the drilling of the Chuditch-2 well is now targeted for the first half of 2026.
It told investors that it had held meetings with the Minister of Petroleum in July, along with regulators. Sunda described the discussions as constructive and said all parties remain committed to the revised timeline.
Sunda is now reviewing a new helicopter support proposal and is preparing for a full rig tender process. It is also progressing the permitting process.
Recommended changes to the Environmental Impact Statement and Environmental Management Plan are being addressed, with updated versions expected to be submitted in September.
“Despite the setback of the drilling postponement, the team is fully engaged, and we look forward to significant progress in the coming months,” said chief executive Andy Butler.
“We are committed to providing further information on our progress in Timor-Leste and with other new business initiatives, including through interviews and investor events, as soon as we are able to do so."
Meanwhile, in new ventures, Sunda previously applied for two exploration blocks which are now pending final Presidential approval.
Sunda noted that nine Service Contracts, including its own, are awaiting signature.
Other new business initiatives are also under evaluation, Sunda said, noting that the opportunities are potentially material.