Sunda Energy, the AIM-quoted exploration and appraisal company focused on Asia-Pacific hydrocarbon assets, said operator Tetragon Energy has raised Mid Case Prospective Resources for the Halcon prospect to 8.0 trillion cubic feet (Tcf) gross, equivalent to 3.0 Tcf net to Sunda's stake.
Tetragon also put the geological chance of success at 24%.
Halcon sits within Philippines Service Contract 80 (SC 80), part of an offshore acreage position in the Bangsamoro Autonomous Region of Muslim Mindanao that Tetragon operates alongside Sunda (37.5%), PXP Energy Corporation (12.5%) and The Philodrill Corporation (12.5%).
The prior estimate for Halcon and four other key SC 80 prospects, disclosed by Sunda on 8 October 2025, was based on a 2015 competent person report prepared by Mitra Energy Inc.
The new figures suggest Tetragon's revised technical work has materially expanded the resource base at Halcon since that earlier assessment.
News Intelligence what this means for the company
Operator Tetragon Energy has more than doubled the Mid Case Prospective Resources estimate for the Halcon prospect in the Philippines to 8.0 Tcf gross (3.0 Tcf net to Sunda's 37.5% stake), up from prior estimates disclosed in October 2025 based on a 2015 competent person report. The revision reflects new technical work by Tetragon and materially expands the resource base at this key SC 80 asset, though the 24% geological chance of success means the resource remains contingent on exploration risk.
- The upgrade to Halcon's resource estimate strengthens the case for appraisal and potential development within SC 80, where Sunda holds a material 37.5% working interest alongside operators and co-venturers PXP Energy Corporation and The Philodrill Corporation.
The Halcon upgrade materially increases the prospective resource base available to Sunda in its core Asia-Pacific portfolio, though realisation depends on drilling success (24% chance) and future development decisions by the operator. This adds optionality to Sunda's asset base as it works toward closing its New Zealand acquisition and pursuing Puka restart and Oru-2 drilling.
Insights assembled by AI. Editor-reviewed and grounded in tickstock’s coverage and proprietary knowledge graph.
Content is for informational purposes only, not financial advice.
