Quarterly Activities/Appendix 5B Cash Flow Report
| Stock | Finder Energy Holdings Ltd (FDR.ASX) |
|---|---|
| Release Time | 30 Apr 2026, 12:35 p.m. |
| Price Sensitive | Yes |
Finder Energy reports quarterly progress, secures funding
- Successful completion of FEED for Subsea Production System and development wells
- Development Area approved for KTJ Project, securing key regulatory milestone
- Completion of Phase 1 engineering for Petrojarl I FPSO redeployment
- Farmout of P2530 license to Serica Energy, reducing capital exposure
Finder Energy Holdings Limited has reported continued progress towards the development of its flagship KTJ Project in Timor-Leste during the March 2026 quarter. Key milestones achieved include the successful completion of FEED for the Subsea Production System and development wells, the approval of the Development Area for the KTJ Project, and the completion of Phase 1 engineering for the redeployment of the Petrojarl I FPSO. The company also completed the farmout of the P2530 license in the UK North Sea to Serica Energy, reducing its capital exposure while retaining a 20% interest and operatorship. Finder remains focused on progressing the remaining workstreams required to support a Final Investment Decision (FID) for the KTJ Project, including the submission of the Field Development Plan, procurement of long-lead items, securing a drilling rig, and finalizing environmental approvals and project financing. The company also continues to actively manage its exploration portfolio in the UK North Sea and Australia's North West Shelf, prioritizing capital allocation and value-accretive opportunities. Subsequent to the quarter, Finder successfully completed a $27 million placement to procure critical path long-lead items and invited eligible existing shareholders to participate in a Share Purchase Plan for up to $3 million.
Finder Energy is focused on progressing the remaining workstreams required to support a Final Investment Decision (FID) for the KTJ Project in Timor-Leste, including the submission of the Field Development Plan, procurement of long-lead items, securing a drilling rig, and finalizing environmental approvals and project financing. The company also continues to actively manage its exploration portfolio in the UK North Sea and Australia's North West Shelf, prioritizing capital allocation and value-accretive opportunities.