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Sunda Energy PLC on Monday reported a widened loss during the first half of 2025, as the company continues to target the resumption of drilling at the Chuditch-2 well in Timor-Leste. The Southeast Asia-focused gas resource company said pretax loss for the six months that ended June 30 was £1.1 million, stretched from £910,000 the year before. It continued to report no revenue, unchanged on-year. In response, shares in Sunda Energy were down 8.3% at 0.024 pence in London on Monday afternoon. The stock is down 65% over the past year. Administration expenses reduced by 8.3% to £1.1 million from £1.2 million, though this was largely offset by exploration and evaluation expenditure rising to £122,000 from £44,000 and finance costs increasing to £115,000 from £1,000. The firm recorded a £47,000 foreign exchange loss, against £6,000 the year prior. Sunda in June said its planned Chuditch-2 appraisal well is now expected to be drilled in the first half of 2026, pushed back from initial plans for drilling Sunda’s wholly-owned Timor-Leste subsidiary, SundaGas, in the second half of 2025. The company at the time said the delay was due to the absence of certain essential logistical services, leaving it unable to execute a definitive, agreed form rig contract. ‘Despite some headwinds during the first half of the year, considerable progress has been made and the team continues to strive towards drilling the Chuditch appraisal well as soon as is practicable,’ said Chair Gerry Aherne. ‘The new business ventures being pursued are encouraging as we endeavour to grow the portfolio with additional material projects and I am hopeful that the company will announce positive news on these initiatives soon. I look forward to significant progress on Timor-Leste and beyond during the second half of 2025.’ Copyright 2025 Alliance News Ltd. All Rights Reserved
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