Finder Energy Holdings Limited (Finder) is pleased to announce that completion has occurred under the sale and purchase agreements announced earlier this month and Finder now owns a 76% interest in PSC 19-11, offshore Timor-Leste.

Damon Neaves, Managing Director, said: “This acquisition transforms Finder into a developer with 34 million barrels (net) of discovered oil and an exciting period of rapid development activity and value catalysts ahead of us.

Our highest priority will be to fast-track the development of the Kuda Tasi and Jahal Oil Fields and we have laid out a clear path to FID and First Oil. We have mobilised resources on those objectives so that we hit the ground running.

The Government of Timor-Leste and the regulator, ANP, together with our joint venture partner, TIMOR GAP, have demonstrated strong support for Finder and our development strategy. It is a privilege for Finder to be part of the future of the energy industry in Timor-Leste and we are excited to get the work program underway.”

Finder has been invited to a signing ceremony in Dili on 6 September 2024, which will be attended by H.E. Francisco da Costa Monteiro, the Minister for Petroleum and Minerals, President Gualdino do Carmo da Silva of Autoridade Nacional do Petróleo (ANP), President and CEO Rui Soares of TIMOR GAP E.P and other honourable guests.

About Finder Energy

Established in 2004, Finder (ASX:FDR) is a successful and proven oil and gas explorer. Since then, Finder has built a substantial acreage portfolio of highly prospective exploration permits in two of the world’s premier hydrocarbon basins, the North West Shelf of Australia and the United Kingdom North Sea.
Finder has a strong reputation in the industry as a successful explorer with a proven track record in concluding value accretive transactions and finding hydrocarbons.