Sunda Energy, the AIM-quoted exploration and appraisal company focused on gas assets in the Asia-Pacific region, has signed a Share Sale and Purchase Agreement with Matahio Ventures for the conditional acquisition of Matahio Energy NZ which, through two subsidiary companies, owns and operates 100% of a group of production and exploration permits located within the onshore area of the Taranaki Basin on the west coast of New Zealand’s North Island. In addition, the Company has conditionally raised up to £6.7 million through the proposed Fundraising to fund the Acquisition as set out below.

Highlights of Matahio NZ and the assets subject to the Acquisition include:

• Approximately 1,000 boepd production (c. 80% oil and 20% gas) in 2025
• Material cashflow generation anticipated from existing production and growth plans
• 100% working interest in four oil and gas production permits, and one exploration permit
• 2P Reserves of 2.6 MMboe and 2C Contingent Resources of 0.5 MMboe
• 2U Prospective Resources of 5.8 MMboe, including near-term, low-risk exploration drilling
• Highly capable, experienced operating team
• Multiple infield development and field re-start opportunities
• Successful pilot gas storage project and additional revenues from third-party gas processing
• Stable business environment in an OECD nation, with new government incentives to encourage gas developments and enhance energy security

Sunda also announces that its wholly owned subsidiary SundaGas has entered into a letter of intent (“LOI”) with Finder TIMOR-LESTE B.V., to work together to secure a drilling rig for the two companies’ drilling campaigns offshore Democratic Republic of Timor-Leste.

For both Sunda and Finder, the LOI is expected to provide the opportunity for significant operational synergies and savings, despite the changes to the operational plan for Sunda, including the use of a semi-submersible unit.

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