Finder Energy has undertaken a $15m initial public offer and plans to list on the Australian Securities Exchange (ASX) in the first week of April 2022.
Finder Energy has a highly prospective portfolio of exploration acreage in Australia’s North West Shelf (NWS) and the UK North Sea, backed by an industry-leading technical capability and a 17 year track record of generating value from exploration and commercial success.
Over the past 17 years’ Finder has been building a large, high quality, acreage position on the NWS alongside some of the biggest resource companies such as Santos, BP and Woodside. The company has a successful track record in the region, identifying the potential of the Dorado play and an exploration success rate of four discoveries from seven wells.
In addition, Finder’s next well will be Kanga-1 which is scheduled to spud in early May 2022. The Kanga prospect is located near existing oil fields in the heart of the Carnarvon Basin and has an independently estimated geological chance of success of 36 per cent (Source: ERCE 2021) discovery at Kanga has the potential to be a company maker with estimated best case prospective resources of 25.5 million barrels net to Finder.
CEO and managing director Damon Neaves said Finder believes that oil companies have a responsibility to participate in the global energy transition to help the meet targets to limit global warming.
To this end, Finder is using its subsurface knowledge and geoscience data capabilities to evaluate the potential for large scale carbon capture and storage to assist in global decarbonisation.
“With the high impact Kanga-1 well about to spud and an extensive pipeline of farmout opportunities over the next few years, Finder is in a strong position to realise the value of the work we have put in to develop a world-class portfolio spanning two of the world’s premier hydrocarbon regions,” Neaves said.
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