**Summary**
Sunda Energy PLC, an exploration and appraisal company focused on oil and gas assets in the Asia-Pacific region, released its final results for the year ended December 31, 2025. The company faced challenges, including the postponement of the Chuditch-2 appraisal well drilling, but made progress in various areas. Operational highlights include extensive preparations for Chuditch-2, completion of an Environmental Baseline Survey, and the award of a 37.5% working interest in two license blocks in the Philippines with discovered gas fields. Post-period developments include securing an Environmental Licence for Chuditch-2, a letter of intent with Finder TIMOR-LESTE B.V. for rig-sharing, and the acquisition of Matahio Energy NZ Limited, adding production and exploration assets in New Zealand.
Financial highlights show a decrease in cash reserves to £0.33 million, a loss after taxation of £2.84 million, and various funding activities, including a convertible loan note agreement and a Directors Subscription. Post-period financial developments include an unsecured loan agreement with the CEO and financing for the Matahio NZ acquisition. The companys strategy focuses on building a portfolio of material oil and gas assets in the Asia-Pacific region, with a commitment to corporate social responsibility and community development in host countries. Despite challenges, Sunda Energy is advancing its position as a significant upstream oil and gas player in the region.
| Financial Metric | 2024 | 2025 | Change |
|---|
| Cash Reserves (£ million) | 3.17 | 0.33 | -89.6% |
| Loss after Taxation (£ million) | 2.05 | 2.84 | +38.5% |
| Administration Expenses (£ million) | 2.22 | 1.93 | -13.1% |
| Exploration and Evaluation Expenditure (£ million) | 0.17 | 0.33 | +94.1% |
| Cash Outflow from Operating Activities (£ million) | 1.68 | 2.26 | +34.5% |
| Total Assets (£ million) | 9.94 | 9.11 | -8.4% |
| Total Equity (£ million) | 9.32 | 8.64 | -7.3% |
| Total Liabilities (£ million) | 0.62 | 0.47 | -24.2% |
**Year-on-Year Comparison of Debt:** - **Convertible Loan Notes:** In 2025, the company issued convertible loan notes for US$1.5 million (£1.135 million), which were fully converted into equity by the end of the year. This resulted in a finance cost of £501,000. In 2024, there were no convertible loan notes issued. - **Unsecured Loan Agreement (AB Loan):** Post-period end in February 2026, an unsecured loan agreement of £1.5 million was entered into with Dr. Andy Butler, CEO. Initial drawdowns were £0.4 million, £0.75 million, and £0.35 million in February, March, and April 2026, respectively. £0.75 million of this loan was converted into equity in April 2026. - **Lease Liabilities:** Lease liabilities due within 12 months were £29,000 in 2025 compared to £8,000 in 2024, an increase of £21,000. Lease liabilities due after 12 months were £24,000 in 2025 compared to £8,000 in 2024, an increase of £16,000. - **Performance Bond Guarantee Deposit:** The performance bond guarantee deposit remained relatively stable at £1.486 million in 2025 compared to £1.596 million in 2024. **Summary:**
- **Cash Reserves** significantly decreased by 89.6% from £3.17 million in 2024 to £0.33 million in 2025.
- **Loss after Taxation** increased by 38.5% from £2.05 million in 2024 to £2.84 million in 2025.
- **Administration Expenses** decreased by 13.1% from £2.22 million in 2024 to £1.93 million in 2025.
- **Exploration and Evaluation Expenditure** increased by 94.1% from £0.17 million in 2024 to £0.33 million in 2025.
- **Cash Outflow from Operating Activities** increased by 34.5% from £1.68 million in 2024 to £2.26 million in 2025.
- **Total Assets** decreased by 8.4% from £9.94 million in 2024 to £9.11 million in 2025.
- **Total Equity** decreased by 7.3% from £9.32 million in 2024 to £8.64 million in 2025.
- **Total Liabilities** decreased by 24.2% from £0.62 million in 2024 to £0.47 million in 2025. **Debt Overview:**
- The company's debt structure evolved with the issuance of convertible loan notes in 2025, which were fully converted into equity.
- Post-period end, an unsecured loan agreement was entered into, with a portion converted into equity in 2026.
- Lease liabilities increased both within and after 12 months.
- The performance bond guarantee deposit remained relatively stable.
