Finder Energy extends key investment decision deadline
- Finder Energy and TIMOR GAP extended their joint decision deadline to Nov. 30.
- Trading in company equity held flat at $0.27 following the operational update.
- Strategic delay aims to finalise debt financing and EPCI supplier contracts while keeping late 2027 drilling targets intact.
Finder Energy (ASX:FDR) has extended the final investment decision deadline for its farm-in agreement with TIMOR GAP to Nov. 30.
The deadline extension provides additional operational flexibility compared to previous project timelines.
"The farm-in agreement extension reflects the positive engagement between the joint venture partners and provides additional time to complete major contracting and financing," said Finder Energy CEO Damon Neaves.
The company reported that international EPCI tendering processes are complete and contract negotiations are underway with suppliers alongside advancing debt financing.
The broader operational schedule retains a target for initial project drilling in late 2027.
Following the announcement, the Finder Energy share price was unchanged at $0.26.
The joint venture centres on developing the offshore Kuda Tasi and Jahal oil fields located in Timor-Leste.
The company recently secured regulatory approvals for its field development plan and completed independent resource assessments to de-risk the asset ahead of first oil.
