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Finder Energy Holdings Limited (ASX:FDR)

ALERT: Price-sensitive ASX Announcement for FDR
Current share price for FDR : $0.270 -0.105 (-28%)+
Announcement
Release
20 Aug 2026 9:18AM
Price at Release
$0.375
Full Release
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Summary
Finder Energy Holdings Limited announced the completion of an independent resource audit and report by RISC Advisory Pty Ltd for the Kuda Tasi and Jahal development project (KTJ Project) located offshore Timor-Leste. The report confirmed 22.2 million barrels of gross 2P reserves for the initial three-well development, with an additional 2.2 million barrels of 2C contingent resources for a potential fourth well. This assessment, which classifies the initial development as 'Reserves – Justified for Development', provides a robust foundation as the project approaches the Final Investment Decision (FID). The company is progressing through financing and regulatory processes and expects to complete development and commence production by late 2027 or early 2028.
Key Points
  • RISC independently classified KTJ development as 'Reserves – Justified for Development'.
  • Gross 2P Reserves of 22.2 MMstb for the initial three-well development.
  • Gross 2C Contingent Resources of 2.2 MMstb for a potential fourth Kuda Tasi infill well.
  • Finder’s net entitlement is 14.4 MMstb of 2P Reserves or 15.8 MMstb on a 2P + 2C basis.
  • RISC supports subsea-to-FPSO development concept using Petrojarl I FPSO.
  • Project scheduled to reach FID with production expected by late 2027/early 2028.
  • The Field Development Plan has been approved.
  • RISC’s 2026 assessment incorporates detailed 3D geocellular static modelling and economic cut-offs.
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.