• Autoridade Nacional do Petróleo (ANP) approves Development Area for Kuda Tasi and Jahal Oil Fields
• Paves way for long-term tenure and project progression toward development and sanction
• Upside strategy centres on Petrojarl I FPSO as central processing and export hub

Finder Energy Holdings Ltd (ASX:FDR) has announced that Autoridade Nacional do Petróleo (ANP) has approved the Development Area over the Kuda Tasi and Jahal Oil Fields (KTJ Project). This approval represents a key regulatory milestone, paving the way to secure long-term tenure and enabling progression toward development and project sanction. It also underpins Finder's strategy to establish a scalable production hub centred on the Petrojarl I FPSO, providing a platform to commercialise multiple upside opportunities within PSC 19-11. The KTJ Project currently comprises 25 MMbbl gross 2C Contingent Resources, with identified upside including an additional 23 MMbbl gross 2C Contingent Resources and 116 MMbbl gross 2U Prospective Resources, supporting a material growth pathway beyond the initial development. Finder's CEO, Damon Neaves, stated that the approval of the Development Area is an important milestone, securing long-term tenure to progress final approvals, financing and Final Investment Decision (FID) for the KTJ Project. The upside strategy centres on the potential for the Petrojarl I FPSO to form a central processing and export point for future tie-backs of surrounding discoveries, which could materially enhance the scale and longevity of production operations, delivering increased project value alongside broader economic and social benefits.

Finder is progressing its technical evaluation of the appraisal and exploration opportunities in order to generate a ranked portfolio of drilling targets which will inform the forward strategy to unlock the additional value in PSC 19-11.