SUNDA ENERGY PLC

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  Material uncertainty over going concern

  These conditions indicate that there is a material uncertainty which may cast significant doubt over the Group and Company's ability to continue as a going concern.

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  Going-concern uncertainty disclosed

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. SUNDA ENERGY PLC 2024-07-01 → present
2. BARON OIL PLC 2013-06-28 → 2024-07-01
3. GOLD OIL PLC 2004-04-08 → 2013-06-28

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Gravita Audit II Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“These conditions indicate that there is a material uncertainty which may cast significant doubt over the Group and Company's ability to continue as a going concern.”

Group structure

1. SUNDA ENERGY PLC · parent
   1. Sunda Energy Ventures Pte. Ltd. 100% · Singapore · Exploration and appraisal of oil and gas
   2. SundaGas (Timor-Leste Sahul) Pte. Ltd. 100% · Singapore · Exploration and appraisal of oil and gas
   3. SundaGas Banda Unipessoal, Lda 100% · Timor-Leste · Exploration and appraisal of oil and gas
   4. Gold Oil Peru S.A.C 100% · Peru · Exploration and appraisal of oil and gas

Significant events

• “In May 2025 the Company conditionally secured access to US$9.0 million gross by way of the issue of unsecured convertible loan notes ("Loan Notes" or "CLNs") to three institutional investors to finance the Company's shares of costs with the planned Chuditch-2 well in Timor-Leste.”
• “In October 2025, the Company raised £0.71 million gross through a subscription by Directors and Senior Management and a WRAP Retail Offer for general working capital purposes, including ongoing preparations to drill in Timor-Leste, initial technical evaluation work on the two new Service Contracts awarded in the Philippines and new business activities, subsequently announced as the proposed acquisition of Matahio NZ.”
• “On 7 February 2024, the Company completed a transaction whereby TIMOR GAP increased its participation in the PSC from 25% to 40%.”
• “On 24 April 2025, the Company announced that it had entered into a binding Farm-In agreement with TIMOR GAP (the "Farm-In Agreement"), whereby SundaGas would assign a 30% interest to TIMOR GAP in addition to the 40% interest already held by TIMOR GAP.”
• “first tranche of US$1.5 million (£1.135 million) of CLNS was issued on 13 May 2025.”
• “On 16 June 2025, the Company announced an involuntary postponement of the drilling of Chuditch-2.”
• “On 17 June 2025, ANP granted a 12-month extension to the current phase (Contract Year 3) of the PSC, which now expires on 18 June 2026.”
• “In October 2025, Sunda was awarded non-operated interests in two Petroleum Service Contracts, namely SC 80 and SC 81”
• “On 10 February 2026, the Company announced that it had entered into an unsecured loan agreement (the "AB Loan") with Dr Andy Butler, CEO of the Company for up to £1.5 million with an initial draw down of £400,000 being used to fund the transaction costs associated with a proposed acquisition and to provide additional working capital for Sunda's business activities. A further £750,000 was drawn down on 26 March 2026.The final tranche of £350,000 was drawn down on 8 April 2026. £750,000 of the outstanding loan was converted into equity on 29 April 2026 as part of the Subscription to fund the acquisition of Matahio NZ.”
• “On 10 March 2026, the Company announced that its wholly owned subsidiary SundaGas Banda Unipessoal, Lda., operator of the TL-SO-19-16 Production Sharing Contract offshore Democratic Republic of Timor-Leste, had been awarded an Environmental Licence for the drilling of the Chuditch-2 appraisal well.”
• “On 8 April 2026, the Company announced that its wholly owned subsidiary SundaGas Banda Unipessoal, Lda. had entered into a letter of intent ("LOI") with Finder TIMOR-LESTE B.V. ("Finder"), to work together to secure a drilling rig for the two companies' drilling campaigns offshore Democratic Republic of Timor-Leste.”
• “On 8 April 2026, the Company announced that it had signed a Share Sale and Purchase Agreement (the "Acquisition Agreement") with Matahio Ventures Pte. Limited (the "Seller") for the conditional acquisition of Matahio NZ”
• “On 29 April, all resolutions were passed at the General meeting approving and putting into effect the acquisition of Matahio NZ, the Fundraising and the Share Consolidation.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

18

last 12 months

Capital events

10

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.