Sunda Energy PLC (AIM:SNDA, FRA:GHA0), in its interim results statement, highlighted that its proposed New Zealand acquisition is expected to complete around late September or early October, bringing a producing business that averaged 1,053 barrels of oil equivalent per day during the first half of 2026.
Government approval for the change of control of Matahio Energy NZ’s assets remains the outstanding condition. The portfolio has 100% interests in four producing permits and a further permit recently converted from exploration status, alongside 2.6 million boe of 2P reserves, 0.5 million boe of contingent resources and 5.8 million boe of prospective resources. Sunda and Matahio are preparing to drill the Oru-2 exploration well in early 2027.
The company meanwhile continues to work through uncertainty surrounding its Chuditch gas project in Timor-Leste. Regulator ANP issued notice in June of its intention to terminate the production-sharing contract after the Chuditch-2 appraisal well was not drilled by the contractual deadline.
Sunda has until 16 October to make representations, with ANP saying it may consider an extension if the company secures a binding rig contract for drilling in 2027.
Sunda posted a £1.99 million loss for the six months to June, against £1.13 million a year earlier, with £518,000 of transaction costs linked to the New Zealand deal. Unrestricted cash increased to £1.1 million from £328,000 at December-end.
The company separately announced it had opened a 'capital access window' in London, which suspends its shares whilst potential equity funding options are being worked on.
