Finder Energy Targets 10 Million Barrels in 18 Months with Accelerated FEED

Strategic Partnership and Accelerated Development

Finder Energy (ASX, FDR) has announced a significant acceleration in the development of its Kuda Tasi and Jahal oil fields located in Timor-Leste, driven by a newly formed strategic alliance with global energy technology leader SLB. This partnership has fast-tracked the Front End Engineering and Design (FEED) phase by approximately 12 months, positioning the company well ahead of schedule towards first oil production.

The alliance combines SLB’s extensive project management and technological expertise with Finder’s operational leadership, creating an integrated project team that aims to de-risk execution and optimize capital efficiency. This collaborative approach also reduces Finder’s forward expenditure through a shared contracting model, a critical factor given the company’s tight capital structure.

Robust Production Forecasts and Resource Base

Finder forecasts initial production rates between 25,000 and 40,000 barrels of oil per day (bopd) from the combined Kuda Tasi and Jahal fields, with an expected output of 10 million barrels within the first 18 months. These projections are underpinned by high-quality Laminaria Formation reservoirs and regional aquifer support, which contribute to strong reservoir performance and rapid capital payback within the first year.

The company’s resource portfolio is substantial, with 34.3 million barrels of net 2C discovered oil in the PSC 19-11 license area, including 16.7 million barrels classified as development-ready contingent resources at Kuda Tasi and Jahal. Beyond Timor-Leste, Finder holds promising exploration assets across the Asia Pacific region and the UK North Sea, including the Wagtail discovery with 19.2 million barrels gross 2C resources, highlighting a diversified growth pipeline.

Path to Final Investment Decision and Market Implications

The accelerated FEED completion and strategic alliance have opened the possibility for a final investment decision (FID) as early as 2026. This milestone would convert contingent resources into proven reserves, potentially triggering multiple re-rating events for the company’s valuation. Finder is actively engaging with multiple funding sources to support the project’s execution phase, while negotiations for the Floating Production, Storage and Offtake (FPSO) vessel are underway.

With a market capitalization of approximately A$25.9 million and a net cash position of A$6 million as of March 2025, Finder’s tight capital structure offers significant leverage to upcoming operational and commercial catalysts. The company’s experienced management team, led by CEO Damon Neaves, brings deep sector expertise and a track record of value creation, further supporting investor confidence.

Exploration Upside and Technical Advances

Finder continues to pursue high-impact appraisal and exploration opportunities, leveraging modern seismic imaging technologies that have enhanced reservoir characterization and fault mapping. These advances have improved resource estimates and de-risked prospects such as Lanjara and Krill, which could potentially double the project size. The company’s UK North Sea and Australian North West Shelf portfolios also present substantial prospective resources, underpinning long-term growth potential.

Overall, Finder Energy’s recent corporate update signals a pivotal phase in its development trajectory, balancing near-term production growth with a robust exploration pipeline and strategic partnerships that mitigate execution risks.