Sunda Energy PLC (AIM:SNDA, FRA:GHA0) has moved a step closer to advancing its planned New Zealand oil and gas operations after Matahio NZ Onshore Limited secured a 10-year petroleum mining permit covering the Puka field and Oru exploration prospect.
The permit, granted by regulator New Zealand Petroleum and Minerals, covers assets in the onshore Taranaki region that form a central part of Sunda’s planned investment following its proposed acquisition of Matahio Energy NZ Limited.
Sunda intends to restart production from the Puka oil and gas field and drill the Oru-2 exploration well after completing the transaction.
The acquisition remains conditional on New Zealand government approval for the change of control, among other conditions.
Sunda said it is working towards completion in September 2026.
