Finder Energy Holdings Limited (AU:FDR) has released an update.
Finder Energy Holdings Limited has significantly expanded its portfolio by acquiring a 76% interest and operatorship in the offshore Timor-Leste PSC 19-11, with the acquisition including four undeveloped oil fields that promise rapid progression to production and considerable exploration potential. To support the development, Finder is undertaking a capital raise through an Entitlement Offer priced attractively below the recent share value. This strategic move aims to transform Finder into a well-balanced exploration and development entity, with strong backing from the Timor-Leste government and major stakeholders.
For further insights into AU:FDR stock, check out TipRanks’ Stock Analysis page.
