3rd Sep 2026 13:48
(Alliance News) - Sunda Energy PLC on Thursday noted a material increase in prospective resources at the Halcon exploration prospect in the Philippines, announced by operator Tetragon Energy Ltd.
The Southeast Asia-focused gas resource company said Tetragon's updated mid-case estimate stands at 8.0 trillion cubic feet of gas gross, or 3.0 Tcf net to Sunda. Sunda's previous estimate from October 2025 ranged between 1.7 trillion and 22.6 TCF gross.
Tetragon also reported a geological chance of success of 24%.
The latest figures relate to prospective resources, which are quantities potentially recoverable from undiscovered accumulations, rather than reserves.
Halcon is an exploration prospect offshore the Philippines within Service Contract 80, operated by Tetragon, which holds a 37.5% working interest alongside Sunda. PXP Energy Corp and Philodrill Corp each hold a 12.5% working interest.
Sunda Energy shares were up 2.4% to 3.02 pence per share on Thursday afternoon in London.
By Niall Holden, Alliance News reporter
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