Sunda Energy PLC (AIM:SNDA) chair Gerry Aherne described a first half of considerable progress, as the small-cap gas firm continued work toward the spud of pivotal appraisal well Chuditch-2.
The AIM-quoted company today reported interim results for the six months ended June 30, a period during which substantial work was conducted beneath the radar as preparations continued for the well.
Chuditch-2 was recently delayed until the first half of 2026, on safety grounds, due to a lack of suitable helicopter services.
Nevertheless, it noted that revised proposals from the Timor-Leste helicopter company have been received for the support of the offshore drilling operations at Chuditch in H1 2026 and these appear broadly acceptable.
The company is actively engaged with a number of rig operators, and efforts to secure an Environmental Permit are expected to be completed in the near future.
At the same time, Sunda is exploring new potential business opportunities.
"Despite some headwinds during the first half of the year, considerable progress has been made and the team continues to strive towards drilling the Chuditch appraisal well as soon as is practicable," chairman Gerry Aherne said in the statement.
"The new business ventures being pursued are encouraging as we endeavour to grow the portfolio with additional material projects, and I am hopeful that the company will announce positive news on these initiatives soon.
Aherne added: "I look forward to significant progress on Timor-Leste and beyond during the second half of 2025."