• Finder's subsidiary enters non-binding LOI with SundaGas to collaborate on securing a drilling rig
• Collaboration expected to deliver operational efficiencies and cost savings through shared logistics, procurement synergies, and improved rig utilization
• Combined drilling campaign of almost 200 days planned across Chuditch appraisal well and Finder's KTJ Project development wells

Finder Energy Holdings Limited (Finder) has announced that its wholly owned subsidiary, Finder Timor-Leste B.V., has entered into a non-binding Letter of Intent (LOI) with SundaGas Banda Unipessoal, Lda. (SundaGas), a wholly owned subsidiary of AIM-quoted Sunda Energy plc (Sunda), to collaborate on securing a drilling rig for their respective drilling campaigns offshore Timor-Leste. Under the LOI, the parties will work together to optimise rig procurement and share drilling costs across their planned programs. SundaGas is planning an appraisal well at the Chuditch gas field which, when combined with Finder's planned three development wells for the KTJ Project, is expected to result in a combined drilling campaign of almost 200 days. The collaboration is expected to deliver operational efficiencies and cost savings through shared logistics, procurement synergies and improved rig utilisation. Sunda's corresponding announcement on AIM has also been attached for reference.