Finder Energy (ASX: $FDR) Quarterly Report Highlights

Finder Energy Holdings Limited (ASX: $FDR) has released its quarterly report for the period ending 31 March 2024. The company is actively seeking farmout partners for key prospects within its portfolio, aiming to conclude farmout transactions this year to fund drilling activity. The report also highlights Finder's strong presence at the BEOS Conference in London and the progress made on interpretation of seismic data on the new P2610 licence, containing the Boaz gas/condensate prospect.

Executive Commentary on Farmout Activities and Technical Progress

Finder's CEO, Damon Neaves, presented Finder's farmout portfolio at the BEOS Conference in London, while Technical Director, Shane Westlake, showcased the innovative technical work on the Whitsun Prospect. The company is actively engaged in seeking farmin partners to drill the Whitsun Prospect, which has attracted significant interest due to its size and similarity to nearby fields. Additionally, Finder has made progress on interpretation and mapping of the Boaz Prospect and secured an additional 3 years' tenure on WA-547-P, allowing the company to benefit from any discoveries from nearby wells targeting the Dorado play.

Summary of Quarterly Report and Outlook

Finder Energy (ASX: $FDR) is actively pursuing farmout partners for its key prospects, particularly the Whitsun and Boaz prospects, which have shown significant resource potential. The company's strong presence at the BEOS Conference in London indicates a proactive approach to attracting potential partners. With increased expenditure during the quarter, Finder aims to secure funding for its drilling activities through farmout transactions. The company's focus on preserving value in its Australian portfolio and extending tenure reflects its strategy to capitalize on improved investment sentiment in the sector. Looking ahead, Finder anticipates positive implications for its WA-547-P permit as Santos actively pursues the Dorado play, and the company is confident of concluding new opportunities in the near term, aligning with its investment criteria.