14th Oct 2026 13:58
(Alliance News) - Sunda Energy PLC on Wednesday announced that its application for an exploration permit offshore New Zealand has become exclusive.
The Asia-Pacific-focused oil and gas company had submitted the application for an exploration permit within the offshore area of Taranaki Basin on the west coast of New Zealand's north island back in mid-July.
The company said that following a 3-month period during which competing offers were invited, the petroleum exploration permit application is exclusive.
New Zealand Petroleum & Minerals, the government agency responsible for regulating the exploration and development of the Crown's mineral and petroleum resources, will now consider the proposal in detail before deciding on granting the permit.
Sunda Energy noted that the award and timing of which are not guaranteed.
Sunda Energy Chief Executive Officer Andy Butler said: "We're pleased that our application for an offshore exploration permit in the area of the exciting Awakino gas discovery has progressed to the exclusive phase. We look forward to working with the New Zealand authorities as they complete their evaluation of Sunda's proposal. The company will make further announcements on our New Zealand initiatives in due course."
Sunda Energy shares fell 2.0% to 1.47 pence each on Wednesday afternoon in London.
By Tom Budszus, Alliance News slot editor
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