Sunda Energy (AIM: SNDA), the AIM-quoted exploration and appraisal company focused on oil & gas assets in the Asia-Pacific region, is pleased to announce its audited financial results for the year ended 31 December 2025.

Operational highlights for 2025

• Extensive operational and funding preparations for the drilling of the Chuditch-2 appraisal well ("Chuditch-2"), which had been expected to commence during Q3 2025 but was postponed.
• Postponement of Chuditch-2 drilling was a significant setback, but efforts to get back on track are progressing.
• Completion of an Environmental Baseline Survey ("EBS") in the area of Chuditch-2, and integration of results into Environmental Impact Statement and the Environmental Management Plan.
• First successes in Sunda's new venture strategy, with the award of a 37.5% working interest in two licence blocks in the Philippines, with two discovered gas fields and world class exploration potential.

Post-period end operational developments

• Awarded an Environmental Licence for the drilling of Chuditch-2.
• Letter of intent signed with Finder TIMOR-LESTE B.V. to work together to secure a drilling rig for the two companies' drilling campaigns offshore Timor-Leste.
• Signature of a share sale and purchase Agreement ("SSPA") for the conditional acquisition of Matahio Energy NZ Limited ("Matahio NZ"), bringing 100% of five production and exploration permits in New Zealand, with around 1,000 boepd production plus exploration and development upside.
• Matahio NZ assets performing well, with substantial oil lifting in May 2026 at exceptionally high prices, directly benefitting Sunda given effective date of SSPA of 1 January 2026.

Financial highlights for 2025

• Cash reserves at 31 December 2025 were £0.33 million (31 December 2024: £3.17 million).
• Loss after taxation of £2.84 million (2024: £2.05 million).
• Convertible loan note agreement with three institutional investors raising up to US$9.0 million to fund Sunda's share of anticipated Chuditch-2 drilling costs, of which only US$1.5 million issued and drawn down.
• Completed a Directors' Subscription and WRAP Retail Offer to raise £0.71 million (gross) in October 2025.

Post-period end financial developments

• Unsecured loan agreement of £1.5 million with Dr Andy Butler, CEO, entered into in February 2026 (the "AB Loan") with initial drawdown of £0.4m, followed by two further drawdowns of £0.75 million in March 2026 and £0.35 million in April 2026.
• Financing secured in April 2026 for the Matahio NZ acquisition including a Firm Subscription of £0.9 million with Alumni Capital, a £4.25 million Convertible Loan Note Subscription with Alumni Capital and a Conditional Subscription of £0.8m with Directors of the Company, including the conversion of £0.75 million of the AB Loan into equity and a WRAP Retail Offer raising c.£0.4 million.

Commenting on the results, Gerry Aherne, Non-Executive Chairman, said:
"2025 was a milestone year for Sunda. We faced tremendous headwinds, especially with the involuntary postponement of drilling in the Company's Chuditch project in Timor-Leste, but also entered a period of transition, the fruits of which we are starting to see in 2026. With plans for Chuditch getting back on track, the entry into two highly prospective exploration assets in the Philippines, and the recent announcement of the proposed acquisition of a material portfolio of production, development and exploration assets in New Zealand, Sunda is truly advancing on its journey to become a meaningful upstream oil and gas player in the Asia-Pacific region. During this time of heightened concerns around energy security, Sunda's strategy of building a portfolio of material oil and gas assets is clearly robust and offers the company a secure and successful future."

KeyFacts Energy: Sunda Energy Timor-Leste country profile