Sunda Energy plc said it had paid the initial deposit to acquire oil and gas production and exploration permits onshore Taranaki Basin on the west coast of North Island, New Zealand.
CONTROL
The company paid US$1.5 million to seller Matahio Ventures Pte. Ltd for its subsidiary Matahio Energy NZ Ltd Matahio Energy NZ Ltd, which owns and operates the permits.
Sunda has also submitted an application for change of control of the permits.
The company previously raised £6.7 million for the acquisition, which adds to its portfolio in Timor-Leste and the Philippines.