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The latest announcement is out from Baron Oil ( (GB:SNDA) ).
Sunda Energy Plc has been awarded non-operated interests in two Petroleum Service Contracts for offshore licence areas in the Sulu Sea, Philippines, as part of the 1st Conventional Energy Bid Round of the Bangsamoro Autonomous Region of Muslim Mindanao. These awards, in collaboration with Triangle Energy, PXP Energy, and Philodrill, provide Sunda with a 37.5% working interest in each block, diversifying its asset base and offering potential for significant gas resource discoveries. The contracts involve commitment work programs focused on seismic reprocessing and geological studies, with favorable fiscal terms and the potential for future value creation through farmout and high-impact drilling.
More about Baron Oil
Sunda Energy Plc is an AIM-quoted company focused on gas exploration and production in Southeast Asia. The company is involved in the exploration of offshore petroleum resources, primarily in the Philippines, and collaborates with other energy firms to enhance its market presence and asset base.
Average Trading Volume: 76,272,348
Technical Sentiment Signal: Sell
Current Market Cap: £6.87M
Find detailed analytics on SNDA stock on TipRanks’ Stock Analysis page.