Finder Energy's acquisition of Timor-Leste oil fields

Finder Energy (ASX:FDR) has announced the acquisition of oil fields in Timor-Leste, marking a significant shift from pure exploration to development. The acquisition includes development-ready oil fields with low upfront entry cost and high equity and operatorship. The estimated resources include 45 MMbbl 2C and 116 MMbbl Pmean. The company's strategic position in permits highly prospective areas reflects its ambitions for rapid progress towards first oil.

Executive commentary on the acquisition

The acquisition of the Timor-Leste oil fields represents a transformational opportunity for Finder Energy. It allows us to transition from being solely an explorer to becoming a developer with access to development-ready oil fields. The low upfront entry cost and high equity and operatorship make this a perfect fit for our strategic goals. The supportive government and low ESG risk further enhance the attractiveness of this acquisition. The high-quality resource and excellent reservoirs provide confidence in the potential for strong cash flows. We are excited about the multiple value creation pathways and the innovative development solutions that will reduce costs and accelerate the path to first oil.

Summary of Finder Energy's acquisition and outlook

Finder Energy's acquisition of the Timor-Leste oil fields marks a strategic shift towards development, offering a rare and affordable greenfield project with significant upside potential. The company's ambitions to achieve first oil quickly and cost-effectively are supported by the high-quality resource and innovative development solutions. With a focus on reducing costs and accelerating the development timeline, Finder Energy aims to unlock the full potential of the acquired oil fields. The estimated resources of 45 MMbbl 2C and 116 MMbbl Pmean reflect the company's confidence in the project's prospects. This acquisition aligns with Finder Energy's strategic drivers, adding geographic diversity to its portfolio and providing a platform for growth in stable, developing nations. The company's track record of completing value accretive deals with industry partners positions it well to progress the development rapidly and efficiently.