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The latest update is out from Baron Oil ( (GB:SNDA) ).
Sunda Energy’s SundaGas unit has signed a letter of intent with Finder TIMOR-LESTE to collaborate on securing a semi-submersible drilling rig and associated services for their respective offshore Timor-Leste campaigns. The arrangement is designed to support Sunda’s Chuditch-2 appraisal well and Finder’s planned development wells on the Kuda Tasi and Jahal fields.
By combining their programmes into a roughly 200-day drilling campaign, the companies expect to make rig contracting more attractive, achieving operational synergies and cost savings despite Sunda shifting from a jack-up to a semi-submersible unit. The revised plan pushes Chuditch-2 drilling to as early as 2027 and has prompted SundaGas to seek an extension of its production sharing contract from the Timor-Leste regulator, with the outcome yet to be determined.
The most recent analyst rating on (GB:SNDA) stock is a Hold with a £0.03 price target. To see the full list of analyst forecasts on Baron Oil stock, see the GB:SNDA Stock Forecast page.
Spark’s Take on SNDA Stock
According to Spark, TipRanks’ AI Analyst, SNDA is a Neutral.
The score is primarily held back by weak financial performance (no revenue, widening losses, and ongoing cash burn despite low leverage). Technicals provide some support from recent price strength, but overbought signals temper that. Valuation remains challenged because profitability is negative and no dividend support is indicated.
To see Spark’s full report on SNDA stock, click here.
More about Baron Oil
Sunda Energy Plc is an AIM-quoted exploration and appraisal company focused on gas assets in the Asia-Pacific region. Through its subsidiary SundaGas, the company operates the TL-SO-19-16 production sharing contract offshore Timor-Leste, which includes the Chuditch gas field being appraised in partnership with state-backed TIMOR GAP.
Average Trading Volume: 106,868,590
Technical Sentiment Signal: Sell
Current Market Cap: £11.8M
Find detailed analytics on SNDA stock on TipRanks’ Stock Analysis page.