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Finder Energy Holdings Limited (ASX:FDR)

ALERT: Price-sensitive ASX Announcement for FDR
Current share price for FDR : $0.335 -0.235 (-41.23%)+
Announcement
Release
23 Feb 2026 8:23AM
Price at Release
$0.570
Full Release
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Summary
Finder Energy Holdings Limited presented a corporate overview focusing on the accelerated development of the Kuda Tasi and Jahal oil fields in Timor-Leste. The company is targeting significant milestones including securing a drilling rig and updating production forecasts in the first half of 2026. A strategic alliance with SLB aims to fast-track project delivery, with the First Oil anticipated by the end of 2027. The Petrojarl I FPSO ownership is expected to de-risk the Kuda Tasi Jahal (KTJ) project, enhancing strategic and economic benefits. Finder has secured 50% of the development capex under a farm-in agreement with TIMOR GAP, with the remainder to be funded through debt, which Barrenjoey is structuring. The project aims to produce 25,000 to 30,000 barrels per day initially, with 10 million barrels planned for the first 18 months.
Key Points
  • Finder targeting major milestones in KTJ Project by 1H 2026.
  • Strategic alliance with SLB to expedite development.
  • First Oil targeted for year-end 2027.
  • Petrojarl I FPSO ownership to de-risk project.
  • 50% development capex secured through TIMOR GAP farm-in.
  • Initial production rate forecast of 25,000-30,000 bopd.
  • Targeting FID by mid-2026.
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.