AIM-listed player seeks to widen gas horizons with exploration permit offshore New Zealand

July 14, 2026, by Melisa Cavcic

Sunda Energy, the AIM-quoted exploration and appraisal company focused on gas assets in the Asia-Pacific region, is pursuing an expansion of its portfolio by submitting an exploration permit application for an area off the coast of New Zealand.

An offshore rig — Illustration; Source: Sunda Energy, former Baron Oil

Sunda Energy has applied for a new petroleum exploration permit (PEP) within the offshore area of the Taranaki Basin on the west coast of New Zealand’s North Island, covering approximately 645 square kilometers, which contains the Awakino gas condensate field originally drilled in 1985.

The move follows the firm’s announcement from April 2026 about the conditional acquisition of Matahio Energy NZ, spotlighting the firm’s intention to pursue a wider growth strategy in New Zealand focused on gas exploration, development and production opportunities, both inside and outside the permits being acquired.

The PEP application is said to represent a key step in executing this strategy, with the firm commitment program offered under the application consisting of technical studies of the existing well and field data and, within 36 months, reprocessing of 450 square kilometers of 3D seismic data.

The program is designed to delineate the gas field for possible future appraisal and development, along with the evaluation of the area’s exploration potential. The PEP application has been accepted by New Zealand Petroleum and Minerals (NZPAM) for entry into its open market competitive process.

As a result, the application now enters a three-month period during which competing offers are invited. Upon competition, the government agency responsible for regulating the exploration and development of the country’s Crown-owned mineral and petroleum resources will assess the application and any competing offers before making a final decision on the permit award.

Dr. Andy Butler, Sunda’s CEO, commented: “Sunda’s application for an exploration permit covering the existing nearshore Awakino gas discovery further demonstrates our intent to grow a meaningful business in New Zealand in tandem with the previously announced conditional acquisition of the Matahio NZ production business.

“This application is consistent with the current New Zealand government’s policy direction to support domestic gas supply and energy security. We look forward to making further announcements on our New Zealand initiatives in due course.”

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