Sunda Energy Plc (LSE:SNDA) has launched a fundraising initiative through a combination of a subscription and retail offer, targeting up to £470,000. The capital will support general working capital needs and advance drilling preparations for key upstream projects in Timor-Leste and the Philippines.
The company continues to make headway on its Chuditch gas project in Timor-Leste, with plans underway to secure a drilling rig and advance funding discussions. In a further boost to its regional footprint, Sunda has also been awarded non-operated interests in two Petroleum Service Contracts in the Philippines — a move that aligns with its strategy to grow and diversify its Southeast Asian portfolio.
About Sunda Energy Plc:
Sunda Energy is an AIM-listed exploration and appraisal company with a focus on gas assets across Southeast Asia. Its operations center on Timor-Leste and the Philippines, where it aims to expand its upstream presence and strengthen its position in the regional energy market.
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