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Baron Oil ( (GB:SNDA) ) just unveiled an announcement.
Sunda Energy has announced a series of agreements to fund the drilling campaign on the Chuditch gas field, including a binding farm-in agreement with TIMOR GAP and raising up to $9 million through convertible loan notes. These arrangements will facilitate the drilling of the Chuditch-2 appraisal well, with TIMOR GAP increasing its working interest to 70% and SundaGas reducing its cost share to 30%. The funding and partnership with TIMOR GAP are expected to unlock significant value from the Chuditch gas field, highlighting its strategic importance to Timor-Leste and providing potential benefits to stakeholders.
More about Baron Oil
Sunda Energy Plc is an AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia. The company is primarily involved in the exploration and development of gas fields, with a significant focus on the Chuditch gas field offshore Democratic Republic of Timor-Leste.
YTD Price Performance: 17.14%
Average Trading Volume: 85,146,596
Technical Sentiment Signal: Hold
Current Market Cap: £17.55M
Find detailed analytics on SNDA stock on TipRanks’ Stock Analysis page.