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Baron Oil ( (GB:SNDA) ) has provided an update.
Sunda Energy Plc has announced an update on its farmout agreement with Timor Gap Chuditch Unipessoal Lda, which will see Timor Gap’s interest in the Chuditch Production Sharing Contract increase to 70%, while SundaGas retains a 30% stake. The completion of this agreement is contingent on fulfilling certain conditions, including the signing of a drilling rig contract and regulatory approvals. The deadline for these conditions has been extended to June 15, 2025, due to delays, with drilling expected to commence in August 2025.
More about Baron Oil
Sunda Energy Plc is an exploration and appraisal company listed on the AIM market, focusing on gas assets in Southeast Asia. The company operates through its wholly owned subsidiary, SundaGas Banda Unipessoal, Lda., and is involved in projects like the Chuditch Production Sharing Contract offshore Timor-Leste.
Average Trading Volume: 155,350,071
Technical Sentiment Signal: Sell
Current Market Cap: £13.6M
For a thorough assessment of SNDA stock, go to TipRanks’ Stock Analysis page.