Sunda Energy PLC (AIM:SNDA) told investors it raised about £404,780 through a WRAP retail offer, adding a retail tranche to a wider fundraising as the AIM-listed group pushes ahead with its newly expanded growth strategy.
The company said it will issue 13.6 million shares via the WRAP, at the issue price, together with 6.8 million warrants under the offer.
Earlier this week, Sunda announced a transformational pivot into New Zealand production while lining up up to £6.7 million in fresh funding, as the company looks to balance near-term cash-generating assets against a pending drill timetable in Timor-Leste.
The AIM-listed group agreed to acquire Matahio Energy NZ, whose onshore Taranaki Basin assets produced around 1,028 barrels of oil equivalent per day in 2025. The package includes four production permits and one exploration permit, with 2P reserves of 2.6 MMboe, 2C contingent resources of 0.5 MMboe and 2U prospective resources of 5.8 MMboe.
Sunda highlighted that the assets offer material cashflow potential and a route to production growth beyond 2,000 boepd under a development plan that includes the Oru-2 exploration well in late 2026
Alongside the deal, Sunda has conditionally raised up to £6.7 million of new funds - of which £4.25 million will come via convertible loan notes.