Philippines Prospect: Prospective Resources Update
Sunda Energy Plc has announced an update regarding the Halcon exploration prospect in the Philippines, noting a significant increase in Prospective Resources reported by Tetragon Energy Ltd. The Mid Case (2U) Prospective Resources for Halcon are now estimated at 8.0 Tcf gross, with Sunda's net working interest being 3.0 Tcf, and a geological chance of success of 24%. This prospect is located within Service Contract 80, operated by Tetragon, where Sunda holds a 37.5% working interest.
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Sunda Energy Plc (AIM: SNDA), the AIM-quoted exploration and appraisal company focused on hydrocarbon assets in the Asia-Pacific region, notes the announcement released today by Tetragon Energy Ltd (ASX: TET) ("Tetragon") of a material increase in Prospective Resources for the Halcon exploration prospect ("Halcon"), in Philippines Service Contract 80 ("SC 80"). Mid Case (2U) Prospective Resources for Halcon are now reported by Tetragon as 8.0 Tcf gross (3.0 Tcf net to Sunda's working interest). Tetragon also report a geological chance of success of 24%.
Full details can be found at the announcement released by Tetragon today (LINK).
SC 80, and adjacent Service Contract 81, lie in the offshore area of the Bangsamoro Autonomous Region of Muslim Mindanao in the Philippines.
Both Service Contracts are operated by Tetragon with a 37.5% working interest, with partners Sunda (37.5%), PXP Energy Corporation (PSE:PXP, 12.5%) and The Philodrill Corporation (PSE.OV, 12.5%).
Image 1: Map of Sunda's Sulu Sea assets offshore the Philippines
| Gas Prospective Resources Gross 100% (Bcf) | Gas Prospective Resources Net 37.5% (Bcf) | ||||||
|---|---|---|---|---|---|---|---|
| Low | Best | High | Low | Best | High | ||
| Halcon | 1,700 | 8,000 | 22,600 | Halcon | 638 | 3,000 | 8,475 |
Table 1: Halcon Prospective Resources recoverable gas gross and net as stated in Tetragon's announcement released today
The estimated Prospective Resources for the five key prospects at SC 80, including Halcon, were previously announced by Sunda on 8 October 2025 and based on a competent person report produced by Mitra Energy Inc. in 2015.
Bcf Billion cubic feet of gas
Tcf Trillion cubic feet of gas
Prospective Resources Quantities of petroleum that are estimated to exist originally in naturally occurring reservoirs, as of a given date. Crude oil in-place, natural gas in-place, and natural bitumen in-place are defined in the same manner
Notes Regarding Contingent and Prospective Resources
- Tetragon has prepared its Contingent Resources and Prospective Resources in accordance with the definitions and guidelines in the Society of Petroleum Engineers (SPE) 2018 Petroleum Resources Management System (PRMS). The PRMS defines prospective resources as those quantities of petroleum which are estimated, as of a given date, to be potentially recoverable from undiscovered accumulations.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.