Finder Energy Holdings Limited (ASX:FDR)

Finder Energy Holdings Limited reported significant progress in the quarter ending 31 December 2025, marked by the acquisition of the Petrojarl I FPSO for the Kuda Tasi and Jahal (KTJ) Project, expected to drive strategic and economic benefits. The company completed a $25 million institutional placement to fund this acquisition, accelerate Front-End Engineering and Design (FEED), and advance the KTJ project towards Final Investment Decision (FID). Additionally, the company secured a Farmin Agreement with TIMOR GAP covering 50% of development capex for the KTJ Project. An independent resource upgrade was completed for the Kuda Tasi and Jahal Oil Fields, significantly enhancing the commercial viability of discovered resources. The report also includes the Appendix 5B cash flow statement, which shows a net cash inflow from financing activities and an ending cash balance of $17.7 million. Key upcoming milestones include updating production forecasts, securing a drilling rig, completing the FEED and Field Development Plan, and obtaining project financing and development approvals.