{"id":142699,"title":"Malcy’s Blog – Oil price, Sunda Energy, Angus Energy & Finally","publisher":"Share Talk","author":"sharetalk","published":"2026-11-06T14:44:27+00:00","modified":"2026-11-06T14:44:27+00:00","canonical_url":"https://www.share-talk.com/malcys-blog-oil-price-sunda-energy-angus-energy-finally/","markdown_url":"https://www.share-talk.com/malcys-blog-oil-price-sunda-energy-angus-energy-finally.md","json_url":"https://www.share-talk.com/malcys-blog-oil-price-sunda-energy-angus-energy-finally.json","category":"Blogs","categories":["Blogs","Energy","Malcy's Blog"],"tags":["Angus Energy","Malcy's Blog","Oil price","Sunda Energy"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Malcys-Blog.jpg?fit=1200%2C800&quality=89&ssl=1","format":"news","language":"en-GB","content":"**WTI (Dec) $90.52 +$2.40, Brent (Jan) $98.29 +$3.67, Diff -$7.77 +$1.27.**\n\n**USNG (Dec) $2.95 -1c, UKNG (Dec) 217.50p +2.75p, TTF (Dec) €87.785 +€1.28.**\n\n**[Author @mgrahamwood](https://twitter.com/mgrahamwood)**\n\n## **Oil price**\n\nOil is flat today after a topsy turvy week in which the Mid-term elections were every bit as bad for the Republicans had feared. But in the Middle East not much has changed, tankers have been hit overnight in the Strait of Hormuz and peace seems to be as far away as before.\n\nOil is indeed down on the week, a week in which the mighty G Sachs whacked up its oil price forecasts, it should be a formal contra-indicator..For this year end WTI guess is up from $81 to $94 and for Brent up from $90 to $105, it certainly rang the bell, next year’s forecasts are up too…\n\n## **Sunda Energy**\n\nSunda has provided the following operational update and guidance on its anticipated timelines for key milestones.\n\nNew Zealand\n\nIn preparation for completion of the Matahio Energy NZ Limited (“Matahio NZ”) acquisition, the Company is working closely with the seller of Matahio NZ to develop operational plans and budgets for 2027, with multiple opportunities targeted for asset improvement and production growth, including drilling of the Oru-2 well. The assets being acquired continue to perform well, with good production levels (average 1,059 barrels of oil equivalent per day (“boepd”) in the 9 months to end September 2026 versus average of 1,028 boepd for calendar year 2025) that brings additional revenues to Matahio NZ in the current high commodity price environment. The effective date of the acquisition is 1 January 2026.\n\nThe acquisition of Matahio NZ is pending government consent for the change of control of the assets. The process is ongoing, with good communications with the regulator, New Zealand Petroleum and Minerals (“NZPAM”). Timing is outside of the Company’s direct control and as such further updates will be provided in due course.\n\nElsewhere in New Zealand, as announced on 14 October 2026, Sunda’s application for an offshore exploration permit containing the Awakino gas field is now exclusive. The detailed evaluation phase has now been commenced by NZPAM, and it is expected that the exploration permit will be awarded late in Q1 or early Q2 2027 although the award and timing cannot be guaranteed.\n\nTimor-Leste\n\nThe new expiry date of the current phase of the Production Sharing Contract TL-SO-19-16 (the “PSC“) has been confirmed as 16 October 2027, following the Company’s announcement on 19 October 2026 that its wholly owned subsidiary, SundaGas Banda Unipessoal, Lda. (“SundaGas“), had received a 12-month extension (the “Extension”) from Timor-Leste upstream regulator, Autoridade Nacional do Petróleo (“ANP”). \n\nFollowing receipt of the Extension, negotiations are continuing between SundaGas and government-owned joint venture partner TIMOR GAP Chuditch Unipessoal, Lda. (“TIMOR GAP”) concerning a farm-in by TIMOR GAP for an enlarged working interest in the PSC and the transfer of operatorship to TIMOR GAP. The target for completion of discussions and securing relevant ANP approvals is by the end of 2026.\n\nFinder Energy Holdings Limited (ASX:FDR) (“Finder”) has confirmed that one of the additional optional drilling slots on the Hakuryu-5 rig is in principle earmarked for the Company’s Chuditch-2 appraisal well (“Chuditch-2”). This follows Finder signing a contract in October 2026 for the Hakuryu-5 drilling rig, with additional optional drilling slots to provide flexibility to accommodate other operators. The letter of intent to jointly pursue a rig has expired as it is no longer required. The Company is continuing to work closely with Finder on plans for the drilling campaign for Chuditch-2. \n\nPhilippines\n\nThe Company is pleased to report good ongoing progress on the various technical evaluations and the seismic reprocessing project. First fast-track reprocessed 3D seismic products are expected during Q1 2027. This follows several technical and commercial joint venture meetings held during October 2026.\n\n**Dr Andy Butler, Sunda CEO, commented:**\n\n“The Company continues to make positive progress across its various initiatives and, as we approach the end of 2026, our business opportunity portfolio is richer than ever. We look forward to delivering on the multiple targeted milestones and providing regular updates as we do so.”\n\n*A useful update from Sunda and whilst I retain a vestige of optimism there is nothing here that makes me think that much excitement is likely anytime soon. I like the look of the New Zealand acquisition with its production and exploration possibilities but hurdles such as completion and permitting remain, a situation that will surely look better in 2027.*\n\n* In Timor-Leste whilst there has been an extension until October 2027 it seems to rely on negotiations between the company and the Government JV partner for an enlarged WI in the PSC and here the target for the necessary farm-in and ANP approvals is the end of this year so if all goes to plan that is another 2027 event. *\n\n## **Angus Energy**\n\nAngus yesterday announced that the  Saltfleetby and Brockham Licences Extensions have been approved.\n\n- Saltfleetby (PEDL005): Production licence extended to 3 April 2037, providing long-term licence certainty for the Company’s key gas-producing asset.\n\n- Brockham (PL235): Production licence extended to 27 October 2035, supporting the Company’s continued plans for the field.\n\n- Regulatory approvals secured: Both extensions have been formalised through Deeds of Variation with the NSTA following submission of the respective Field Development Plan Addendums (“FDPAs”)\n\nAngus Energy Plc (“Angus Energy” or the “Company”) is pleased to announce that the North Sea Transition Authority (“NSTA”) has approved extensions to the production licences covering the Saltfleetby gas field and Brockham field.\n\nSaltfleetby Gas Field – PEDL005\n\nThe Company confirms that the co-licensees of PEDL005 and the NSTA have executed a Deed of Variation extending the licence until 3 April 2037. The extension provides long-term regulatory certainty and continuity for production operations at the Saltfleetby gas field.\n\nBrockham Field – PL235\n\nThe Company also confirms that the co-licensees of PL235 and the NSTA have executed a Deed of Variation extending the licence until 27 October 2035. The extension provides continued licence tenure for the Brockham field.\n\n**Ross Pearson, Chief Operating Officer, commented:**\n\n“These licence extensions provide long-term certainty for both assets and support our strategy of organic growth across our UK onshore portfolio. With a workover at Brockham planned for later this month and preparations for drilling a new well at Saltfleetby progressing well, we remain focused on unlocking further value from our existing assets.”\n\n*Yesterday Angus brought news of the Saltfleetby and Brockham licences, the UK NSTA have agreed to extend to 3rd April 2037 and 27th October 2035 respectively. Clearly this is very good news for the company, as the COO says above it provides very welcome long-term certainty for the UK portfolio. *\n\n*Values should increase significantly and this, whilst not being a Government policy per se, is a good sign that for domestic UK hydrocarbon producers, the NSTA is appearing to be on their side and is prepared to back companies with their longer term investment plans. *\n\n*Angus has successfully restructured its finances this year, operationally it is performing well and now it has good visibility over its key assets which, combined with strong local pricing, should lead to a much better financial performance.*\n\n## **And finally…**\n\nRugby Union is back in the Northern hemisphere as The Nations Championship returns after the south seas sojourn in the summer. Ireland kick the weekend off tonight at 20:10 as they host the Pumas. Tomorrow the Springboks are in Rome at 11:40, then it is Scotland hosting the All Blacks at Murrayfield at 14:10 followed by Wales v Japan at 16:40 and concluding with Fiji in Paris at 20:10. On Sunday England welcome the Wallabies to Twickenham at 15:10. Rugby fans can have virtually wall-to-wall oval ball coverage for two and a half days…\n\nWhilst F1 carries on, those people who think that with Kimi having sewn up the title will make life boring are looking at the wrong things. It was never in doubt that the kid in the fastest car would win but the side events are now very much game on…Firstly can Max continue his good form and get 2nd in the title race? And will Mercedes now stop ignoring George to get Kimi over the line and see how he can do? And as for the Tifosi, after the pathetic display by Chas last week will anyone have read him the riot act, after all his antics stopped a Ferrari 1-2 in Mexico? With Haas unsurprisingly firing Ocon after his latest tantrum they have brought in Rafael Camara for the end of the season and he starts at his home race, quali is at 18:00 tomorrow and the race is at 17:00 on Sunday.\n\nLife goes on in the Prem, it all looks rather boring right now but tonight the Toffees host the Sky Blues looking to get higher up the table, a win could put them into a top four Champions League spot…Tomorrow Leeds host Spurs, the Tigers visit the Gooners, the Cottagers welcome the Magpies and the Noisy Neighbours are at the Forest. On Sunday the Seagulls host the Bees, the Eagles welcome Liverpool, the Cherries are at the Tractor Boys, the Black Cats host Chelsea and it’s the Red Devils v Villa.\n\nIn horse racing it’s Aintree today and tomorrow although the cards don’t look that appealing, more small fields and I sometimes wonder why the racing lobby can justify its constant grumbling when they don’t show up? And that comes from a racing fan…\n\n![](https://www.share-talk.com/wp-content/uploads/2023/12/Malcolm_Graham_Wood-300x225.jpg)\n\n**[Author @mgrahamwood](https://twitter.com/mgrahamwood)**\n\nDisclaimer & Declaration of Interest\n\nThe information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. The writer may or may not hold investments in the companies under discussion."}