Sunda Energy plc has awarded share options over an aggregate 975 million ordinary shares of 0.025 pence each in the company to certain directors, senior management, employees and a consultant. DIRECTORS The options, with an exercise price is of 0.0725 pence per ordinary share, are granted under an HMRC approved enterprise management incentive plan and […]
Tag: Sunda Energy plc
Sunda puts back Chuditch-2 spud date
Sunda Energy plc expects the spud date to defer to the second quarter of 2025 for the Chuditch-2 appraisal well offshore Timor Leste. RIG The company, which had targeted early 2025 subject to financing, continues to advance funding for the TL-SO-19-16 production sharing contract with Pacific LNG. Preparations for drilling continue with negotiations for its […]
Sunda applies for Philippines offshore licences
Sunda Energy plc has applied for two offshore licence areas in the Philippines containing “several material gas discoveries and significant upside potential”. STRATEGY The applications were made in a joint venture partnership with three other companies. If successful, the company expects to hold a 37.5% non-operated interest in any service contracts awarded. The applications were […]
Sunda signs exclusivity deal for Chuditch drill
Sunda Energy plc has entered into an exclusivity agreement to fund drilling the Chuditch-2 gas appraisal well under the TL-SO-19-16 production sharing contract, Timor-Leste. RIG The company said that any investment from private Singapore investor Pacific LNG Operations Pte Ltd would be through equity issued from a Sunda subsidiary. The agreement contains “carve-outs” for several […]
Baron Oil renamed as Sunda Energy
Sunda Energy plc has been registered as the new name for Baron Oil plc. The company is currently preparing financing to drill an appraisal well in the Chuditch field, offshore Timor-Leste. In June, Sunda entered year three of the production sharing contract and aims to begin planned operations in 2025.