Draw down from loan facility
Sunda Energy Plc has drawn down an additional £750,000 from its £1.5 million unsecured loan facility with CEO Dr. Andy Butler, bringing the total drawn to £1,150,000. These funds are designated for capital requirements related to a proposed acquisition of oil and gas assets and for general working capital. While discussions for the acquisition are advanced, the company cautions that there is no certainty of a binding agreement or completion.
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Sunda Energy Plc (AIM: SNDA), the AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia, announces that it has drawn down a further £750,000 from the unsecured loan agreement (the "Facility") announced on 10 February 2026 (the "Facility Announcement") taking the total amount drawn down to £1,150,000. The Facility, with Dr Andy Butler, CEO and a director of the Company, is for up to a total amount of £1.5 million. The funds are to be used to cover additional capital requirements associated with the proposed acquisition of a portfolio of oil and gas production, development and exploration assets (the "Proposed Acquisition") and to provide the Company with additional working capital, as indicated in the Facility Announcement.
Discussions on the Proposed Acquisition remain at an advanced stage and the Company's board of directors is hopeful of a satisfactory outcome. However, there can be no certainty that a binding sale and purchase agreement will be executed or that the Proposed Acquisition will complete, nor the terms or timing of either thereof.
The Company will provide further information on the Proposed Acquisition in due course.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.