Sunda Energy Plc (AIM: SNDA), an AIM-quoted exploration and appraisal company focused on gas assets across the Asia-Pacific region, has issued an operational update covering its New Zealand, Timor-Leste, and Philippines projects. The announcement confirms strengthening production at the Matahio NZ assets, a 12-month PSC extension in Timor-Leste, and an in-principle rig slot earmarked for the Chuditch-2 appraisal well. Investors will be watching progress on New Zealand government consent for the Matahio NZ acquisition and the conclusion of farm-in negotiations with TIMOR GAP.

Key Points

  • Sunda Energy Plc (AIM: SNDA) is an AIM-quoted exploration and appraisal company focused on Asia-Pacific gas assets
  • Matahio NZ assets averaged 1,059 boepd in the nine months to end September 2026, up from 1,028 boepd for the full calendar year 2025
  • PSC TL-SO-19-16 in Timor-Leste extended to 16 October 2027; Chuditch-2 rig slot in principle earmarked on the Hakuryu-5
  • Investors should watch for New Zealand government consent from NZPAM and completion of TIMOR GAP farm-in negotiations by end-2026

Matahio NZ Acquisition Awaits NZPAM Consent as Production Rises to 1,059 boepd

Sunda Energy's pending acquisition of Matahio Energy NZ Limited carries an effective date of 1 January 2026 and remains subject to government consent from New Zealand Petroleum and Minerals for the change of control of the assets. The company reports that production from those assets averaged 1,059 barrels of oil equivalent per day in the nine months to end September 2026, compared with an average of 1,028 boepd for calendar year 2025. The company notes the current high commodity price environment is contributing additional revenues to Matahio NZ. Operational plans and budgets for 2027 are being developed, with the Oru-2 well identified as a drilling opportunity. Timing of regulatory consent remains outside the company's direct control.

Awakino Gas Field Permit Enters Detailed Evaluation Phase with Q1–Q2 2027 Award Expected

Separately in New Zealand, the company's application for an offshore exploration permit covering the Awakino gas field became exclusive following an announcement on 14 October 2026. The detailed evaluation phase has since commenced with NZPAM, and the company anticipates the permit could be awarded late in Q1 or early Q2 2027, though it cautions that neither the award nor its timing can be guaranteed. This represents an additional potential asset within Sunda's New Zealand portfolio alongside the Matahio NZ acquisition, broadening the company's exposure to the country's gas sector.

Chuditch-2 Appraisal Well Earmarked on Hakuryu-5 Rig as TIMOR GAP Farm-In Negotiations Continue

In Timor-Leste, Finder Energy Holdings Limited (ASX: FDR) has confirmed that one of the additional optional drilling slots on the Hakuryu-5 rig is in principle earmarked for Sunda's Chuditch-2 appraisal well. Finder signed a contract for the rig in October 2026. The PSC TL-SO-19-16, operated through wholly owned subsidiary SundaGas Banda Unipessoal, Lda., now expires on 16 October 2027 following a 12-month extension confirmed by the ANP regulator. Negotiations with government-owned partner TIMOR GAP on a farm-in for an enlarged working interest and transfer of operatorship are ongoing, with the company targeting completion and ANP approvals by end-2026.

Philippines Seismic Reprocessing on Track with First 3D Products Expected in Q1 2027

Sunda Energy also reports ongoing progress in the Philippines, where technical evaluations and a seismic reprocessing project are advancing following several technical and commercial joint venture meetings held during October 2026. The first fast-track reprocessed 3D seismic products are expected during Q1 2027. The company did not disclose further financial or operational detail relating to the Philippines assets in this announcement. Taken together, the multi-jurisdiction update indicates Sunda is managing a broad pipeline of milestones across three Asia-Pacific territories simultaneously, with regulatory and partner-dependent timelines representing the principal near-term variables for investors to monitor.