Finder Energy (ASX: $FDR) Quarterly Report Highlights

Finder Energy Holdings Limited (ASX: $FDR) has announced its successful bid in the 33rd UK Offshore Licensing round for the P2610 licence, securing the large Boaz gas/condensate prospect. The company also revealed its partnership with Equinor, the operator of nearby Sleipner Area facilities, providing a pathway for development and access to strong European gas prices. Additionally, Finder announced a mean prospective resource estimate of 150 MMbbl for the Whitsun Prospect in P2528. The company's closing cash for the quarter was $8.4 million.

Executive Commentary

The company is pleased to have secured the Boaz gas/condensate prospect in the UK Offshore Licensing round, further strengthening our position in the UK North Sea. Our partnership with Equinor provides an excellent opportunity to leverage their expertise and infrastructure for the development of these prospects. The successful bid reflects our commitment to expanding our exploration portfolio and pursuing opportunities with high value creation potential.

Summary

Finder Energy's successful bid in the 33rd UK Offshore Licensing round for the P2610 licence, securing the large Boaz gas/condensate prospect, marks a significant milestone for the company. The partnership with Equinor offers access to strong European gas prices and infrastructure for potential development. The mean prospective resource estimate of 150 MMbbl for the Whitsun Prospect in P2528 further enhances the company's exploration portfolio. With a closing cash balance of $8.4 million, Finder Energy is well-positioned to pursue its corporate strategy and capitalize on the opportunities in the UK North Sea and the North West Shelf Australia. The company anticipates announcing further details on new venture opportunities in the coming quarter, demonstrating its commitment to expansion and growth.