Sunda Energy (AIM:SNDA), the AIM-listed exploration and appraisal company focused on gas assets across Asia-Pacific, said New Zealand's Resources Minister confirmed that regulator New Zealand Petroleum and Minerals has granted a 10-year petroleum mining permit to Matahio NZ Onshore.
The permit covers the Puka oil and gas field and the Oru exploration prospect in the onshore Taranaki region.
Restarting Puka production and drilling the Oru-2 exploration well sit at the centre of Sunda's investment plan in New Zealand, contingent on completing its acquisition of Matahio Energy NZ, the permit holder's parent company.
Sunda announced that deal on 8 April.
Completion still requires New Zealand government approval for the change of control, alongside other conditions.
Sunda is working towards closing the transaction in September 2026.
News Intelligence what this means for the company
New Zealand's regulator has granted Sunda Energy a 10-year mining permit for the Puka field and Oru prospect—the core assets underpinning Sunda's planned acquisition of Matahio Energy NZ announced in April. This clears a major regulatory hurdle; the deal still requires government approval for change of control and is targeted to close in September 2026. The permit validates Sunda's investment thesis: restarting Puka production and drilling the Oru-2 well are central to the acquisition's value.
The permit grant removes a key execution risk for the Matahio acquisition and confirms the regulatory pathway for Sunda's New Zealand onshore strategy. Completion still hinges on government change-of-control approval, but this permit award materially de-risks the transaction's technical and regulatory foundation.
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