InvestSMART

Finder Energy Holdings Limited (ASX:FDR)

ALERT: Price-sensitive ASX Announcement for FDR
Current share price for FDR : $0.360 -0.02 (-5.26%)+
Announcement
Release
10 Dec 2025 10:36AM
Price at Release
$0.380
Full Release
download
Summary
The document details the acquisition terms of the Petrojarl I (PJI) floating production storage and offloading (FPSO) vessel by Finder Energy Holdings Limited from Amplus Energy. It outlines the strategic benefits of integrating PJI into the KTJ Project, including cost-effective and fast redeployment, enhanced production capabilities, and alignment with their economic and operational goals. The acquisition involves a combination of cash payments and shares issued to Amplus, with the transaction subject to shareholder approval and expected to complete by December 2025. The strategic alliance with SLB and funding initiatives involving TIMOR GAP are highlighted as key steps toward achieving the Final Investment Decision (FID) by mid-2026 and targeting first oil by the end of 2027.
Key Points
  • US$9.0m in FDR shares issued to Amplus, subject to shareholder approval.
  • Additional US$6m cash payment in stages, linked to FID and project milestones.
  • Completion of PJI acquisition expected in December 2025.
  • Strategic alliance with SLB to accelerate project delivery and first oil.
  • Petrojarl I acquisition seen as a fast and cost-effective redeployment solution.
  • Significant economic benefits expected from reduced operating expenses.
  • Amplus to receive contracts for FPSO FEED, modifications, and management.
  • Aim to achieve FID by mid-2026 and first oil by year-end 2027.
  • Major shareholder committed to supporting resolutions at the EGM.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.