Sunda Energy PLC (AIM: SNDA) announced significant advancements in its Southeast Asia operations this week.
The announcement follows the company’s recent rebranding from its former name, Baron Oil. Sunda is now in the third year of the Chuditch production sharing contract, which includes a firm obligation to drill a well by June next year.
Speaking in the Proactive studio, Chief Executive Andy Butler stated that the company is making excellent progress toward the drilling campaign.
Butler emphasized the strategic significance of the name change, explaining how it aligns with the company’s focus on Southeast Asia. He discussed the progress of the Chuditch project, noting that Sunda Energy has entered the third year of the production-sharing contract, which includes an obligation to drill a well by June next year.
He also highlighted ongoing funding initiatives, expressing optimism about securing partnerships with parties interested in gas opportunities in Southeast Asia. The CEO confirmed that Sunda Energy is aiming for initial drilling in early 2025, with significant advancements in drilling planning, tendering, and governmental approvals.
Key updates on monitoring include procurement steps, environmental approvals, and funding developments as Sunda Energy progresses toward its drilling campaign.
