Sunda Energy Secures Funding for Chuditch Gas Field Drilling Campaign

 

Sunda Energy (LSE:SNDA) has announced several key agreements to fund its drilling campaign on the Chuditch gas field, including a binding farm-in agreement with TIMOR GAP and the raising of up to $9 million through convertible loan notes. These agreements will enable the drilling of the Chuditch-2 appraisal well, with TIMOR GAP increasing its working interest to 70%, while SundaGas will reduce its cost share to 30%. The funding and strategic partnership with TIMOR GAP are expected to unlock significant potential from the Chuditch gas field, emphasizing its importance to Timor-Leste and offering potential benefits to stakeholders.

About Sunda Energy
Sunda Energy Plc is an AIM-listed exploration and appraisal company focused on gas assets in Southeast Asia. The company is primarily engaged in the exploration and development of gas fields, with a particular focus on the Chuditch gas field offshore the Democratic Republic of Timor-Leste.

• Year-to-Date Share Performance: +17.14%

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• Technical Sentiment: Neutral (Hold Signal)

• Market Capitalization: £17.55 million

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