Finder Energy Boosts Kuda Tasi and Jahal Resources by Up to 31%, Paving Way for Development
Finder Energy has announced a significant upgrade to the contingent resources of its Kuda Tasi and Jahal oil fields, verified independently by RISC Advisory. This enhancement strengthens the project's development prospects and supports financing efforts ahead of a planned final investment decision in mid-2026.
- 14% increase in 2C contingent resources to 25.5 million barrels
- 31% rise in 1C contingent resources to 19 million barrels, improving downside risk
- Upgrade based on newly reprocessed Ikan 3D seismic data and detailed reservoir analysis
- Independent verification by RISC Advisory enhances confidence for project financing
- Momentum builds following farmin deal with TIMOR GAP, targeting mid-2026 FID
Resource Upgrade Validated by Independent Review
Finder Energy Holdings Limited has announced a notable upgrade to the contingent resources of its Kuda Tasi and Jahal (KTJ) oil fields, located offshore in PSC 19-11 near Timor-Leste. The independent advisory firm RISC Advisory has verified the updated resource estimates, confirming a 14% increase in the 2C (best estimate) contingent resources to 25.5 million barrels and a 31% rise in the 1C (low estimate) contingent resources to 19 million barrels. This upgrade materially strengthens the project's downside case and reduces development risk.
Technical Advances Drive Resource Reassessment
The resource upgrade follows a comprehensive technical reassessment by Finder, incorporating newly reprocessed Ikan 3D seismic data, detailed fault and depth mapping, and integrated petrophysical and pressure/fluid analyses from well data. This modern seismic processing, the first major update since 2008, has significantly improved subsurface imaging, resolving previous challenges and enabling more accurate reservoir characterization. The enhanced data quality has allowed for refined static and dynamic reservoir models, which underpin ongoing field development planning and financing activities.
Strategic Implications and Development Outlook
The resource upgrade comes on the heels of a recent farmin transaction with TIMOR GAP, which adjusted Finder's working interest to 66%. This partnership and the strengthened resource base provide a solid foundation for securing project debt and advancing the Front End Engineering and Design (FEED) phase. Finder is targeting a final investment decision (FID) by mid-2026, with the upgraded contingent resources improving the commercial viability and attractiveness of the KTJ development.
Broader Exploration Potential in PSC 19-11
Beyond Kuda Tasi and Jahal, Finder is actively interpreting the new seismic data over other discoveries and prospects within PSC 19-11, including the Krill and Squilla fields. The improved seismic imaging under reefs and in shallower areas is expected to refine resource estimates and identify high-potential drilling targets. However, fault seal integrity remains a critical risk factor for exploration prospects, and ongoing work aims to derisk these opportunities to prioritize future drilling candidates.
Looking Ahead
Finder's subsurface team is integrating the upgraded resource data into three-dimensional geological models that will guide reservoir simulation and development engineering. This technical foundation is essential for optimizing production profiles and development concepts as the company moves closer to commercialising the KTJ fields. The independent validation by RISC Advisory adds credibility to Finder's resource base, which will be crucial in attracting investment and advancing the project through the next phases.
Bottom Line?
With a robust resource upgrade and strategic partnerships in place, Finder Energy is well positioned to advance KTJ towards a decisive investment milestone in 2026.
Questions in the middle?
- How will the upgraded contingent resources impact Finder's valuation and financing terms?
- What are the key technical or commercial contingencies that must be resolved before KTJ resources can be reclassified as reserves?
- How might ongoing seismic interpretation of other PSC 19-11 prospects influence Finder’s exploration and development strategy?
