Finder Energy acquires 76% stake in Timor-Leste oil project

Finder Energy Holdings Ltd (ASX: FDR) managing director Damon Neaves joins Proactive’s Tylah Tully to discuss its acquisition of a 76% interest in PSC 19-11, offshore Timor-Leste. This transaction transforms Finder into a developer with 34 million barrels (net) of discovered oil. The company is prioritising the fast-tracked development of the Kuda Tasi and Jahal Oil Fields, aiming to reach Final Investment Decision (FID) and first oil promptly. Resources have been mobilised to ensure the swift execution of these development plans. The Government of Timor-Leste, along with the regulator ANP and joint venture partner TIMOR GAP, has shown strong support for Finder's development strategy. This acquisition marks a critical step in Finder's growth, positioning the company as a key player in Timor-Leste's energy sector. A signing ceremony is scheduled in Dili on September 6, 2024, which will be attended by government officials and industry leaders, further solidifying the partnership and commitment to the project. #Proactiveinvestors #FinderEnergy #ASX #TimorLeste, #OilAndGas, #OffshoreDevelopment, #KudaTasi, #JahalOilFields, #EnergySector, #OilProduction, #ASXNews, #EnergyDevelopment, #PSC1911, #TimorGAP, #ANP, #FinalInvestmentDecision, #FirstOil, #EnergyIndustry, #OilExploration, #DamonNeaves, #FDR, #TimorLesteEnergy #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews