Sunda Energy Plc (LSE:SNDA) has announced a rescheduling of the Chuditch-2 appraisal well, now targeting drilling in the first half of 2026. The delay stems from logistical service constraints in Timor-Leste, which have disrupted the original project timeline.
As a result, the farm-in agreement with state-owned energy firm TIMOR GAP has been terminated, although Sunda has indicated that discussions may resume to renegotiate terms. In the meantime, the company is actively seeking alternative funding options and anticipates improved rig availability in the coming year due to shifting market dynamics.
Environmental permitting for the project continues, with final approval expected in the third quarter of 2025. While the revised schedule represents a setback, Sunda maintains its long-term commitment to the Chuditch gas field and is focused on maximizing its value for stakeholders.
About Sunda Energy
Sunda Energy Plc is an AIM-listed exploration and appraisal company focused on natural gas assets in Southeast Asia. Operating through its subsidiary, SundaGas Banda Unipessoal, Lda., the company is primarily engaged in the development of the Chuditch gas project located offshore Timor-Leste.
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