Sunda Energy, the AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia, provides an update on its existing business and new venture activities.

Timor-Leste

Following the announcement on 16 June 2025 of the postponement of drilling of the Chuditch-2 well by its wholly owned Timor-Leste subsidiary SundaGas, the Company has been engaged with the Timor-Leste authorities concerning the realisation of the drilling campaign, likely to be in H1 2026. Dr Andy Butler, CEO and Mr Gerry Aherne, Chairman, visited Dili in July and held a number of meetings, including with the Minister of Petroleum and Mineral Resources, upstream regulator Autoridade Nacional do Petróleo (“ANP”) and state-owned joint venture partner TIMOR GAP. Discussions were constructive and positive, with all parties committed to completing drilling preparations and executing the campaign on the revised timeline.

SundaGas has now received a revised proposal from the Timor-Leste helicopter company for support of the planned offshore drilling operations at Chuditch and is currently in the process of reviewing this proposal and seeking clarifications. The Company is also engaged with a number of rig operators in preparation for a full tender exercise to enable the retimed drilling campaign.

The process of securing an Environmental Permit continues. SundaGas has received a formal response and recommended changes to the Environmental Impact Statement (“EIS”) and Environmental Management Plan (“EMP”) from the Evaluation Committee, made up of ANP and other stakeholders. The requested actions are currently being addressed by the Company and its environmental consultants, and updated drafts of the EIS and EMP are currently expected to be submitted during September 2025.

Philippines

Sunda’s applications for two blocks in the Sulu Sea, offshore Philippines, remain outstanding, pending final Presidential signature. The Company participated in meetings in Manila during July and its joint venture operator and Philippines partners met with the Philippines authorities in early August. It is understood that there are now nine new Service Contracts pending signature, including the two in which Sunda will participate, and there is an expectation that these will all be signed in the near future, as a trigger for renewed oil and gas activities in the Philippines. The Company remains excited about the potential of its two application blocks and is eager to commence activities in the area. Detailed descriptions of the blocks will be provided following award.

New Business Activities

As part of Sunda’s growth plans, as well as the desire to expand and diversify its upstream portfolio, the Company is actively engaged in the pursuit of a number of new business initiatives. The target opportunities are potentially material and would be highly impactful to Sunda if secured. Further details will be provided at the appropriate time if any of these new business activities are successful.

Dr Andy Butler, CEO of Sunda, commented:
“The Company is focussed on delivering on the revised timeline for drilling of the Chuditch well in Timor-Leste, as well as delivering on a number of exciting new venture initiatives. Despite the setback of the drilling postponement, the team is fully engaged, and we look forward to significant progress in the coming months. We are committed to providing further information on our progress in Timor-Leste and with other new business initiatives, including through interviews and investor events, as soon as we are able to do so.”

Mr Gerry Aherne, Chairman of Sunda, added:
“It was good to have positive meetings with the Minister of Petroleum, our partners TIMOR GAP and the various government authorities on my recent Timor-Leste visit. I was able to experience first-hand the strong shared commitment to develop the Chuditch project and the dedication of the Sunda Energy team in Dili.”