Grant of Petroleum Mining Permit to Matahio NZ
Sunda Energy Plc has announced that its subsidiary, Matahio NZ Onshore Limited, has been granted a 10-year petroleum mining permit for the Puka oil and gas field and Oru exploration prospect in New Zealand's Taranaki region. This permit is a crucial step for Sunda's investment plan, which includes restarting Puka production and drilling the Oru-2 exploration well, contingent on the completion of its conditional acquisition of Matahio Energy NZ Limited, expected in September 2026, pending New Zealand government approval for change of control.
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Sunda Energy Plc (AIM: SNDA), the AIM-quoted exploration and appraisal company focused on gas assets in the Asia-Pacific region, notes the announcement today by New Zealand Resources Minister, the Hon. Shane Jones, that regulator New Zealand Petroleum and Minerals has granted Matahio NZ Onshore Limited ("MNO") a 10-year petroleum mining permit ("PMP") in the onshore Taranaki region (https://www.beehive.govt.nz/release/puka-field-mining-permit-application-approved). The new PMP covers the Puka oil and gas field and Oru exploration prospect. Restarting production from Puka and drilling the Oru-2 exploration well are key components of Sunda's investment plan in New Zealand following completion of the conditional acquisition of MNO's parent company Matahio Energy NZ Limited, as announced by the Company on 8 April 2026 (the "Transaction"). The Transaction remains conditional, inter alia, on New Zealand government approval for change of control and the Company is working towards completion of the Transaction in September 2026.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.