Finder Energy has completed its acquisition of the Petrojarl I FPSO, issuing over 37 million shares to Amplus Energy as part of the US$15 million deal. Amplus’ Managing Director joins Finder’s board, signalling deeper collaboration.
- 37.2 million shares issued to Amplus Energy
- Shares issued at A$0.37 each as part of US$15 million consideration
- Acquisition of Petrojarl I FPSO completed in December 2025
- Shareholder approval secured in January 2026
- Amplus MD Steve Gardyne appointed non-executive director
Completion of a Strategic Acquisition
Finder Energy Holdings Limited has taken a significant step in expanding its offshore capabilities with the completion of the Petrojarl I Floating Production Storage and Offloading (FPSO) unit acquisition. This follows announcements in December 2025 and culminates in the issuance of 37,233,008 fully paid ordinary shares to Amplus Energy Holdings Limited as partial consideration for the US$15 million deal.
Capital Structure and Shareholder Backing
The shares were issued at a deemed price of A$0.37 each, reflecting the agreed valuation underpinning the transaction. Importantly, this issuance was ratified by Finder’s shareholders at a meeting held on 12 January 2026, underscoring investor support for the company’s growth strategy. The new shares rank equally with existing ordinary shares, indicating no preferential treatment and maintaining shareholder equity balance.
Governance Implications
In a move that signals a closer partnership, Amplus Energy’s Managing Director, Steve Gardyne, will join Finder’s board as a non-executive director. This appointment is set to bring valuable industry expertise and align interests between the two companies as they integrate the Petrojarl I FPSO into Finder’s operations.
Strategic Outlook
The acquisition of the Petrojarl I FPSO is a notable milestone for Finder Energy, potentially enhancing its production capacity and operational footprint in the offshore oil and gas sector. While the announcement does not detail operational plans or financial impacts beyond the share issuance, market watchers will be keen to see how this asset contributes to Finder’s growth and profitability in the coming quarters.
Overall, the transaction reflects a strategic alignment between Finder and Amplus, combining capital, assets, and expertise to pursue opportunities in a competitive energy landscape.
Bottom Line?
Finder Energy’s share issuance and board changes mark a pivotal moment as it integrates a key offshore asset.
Questions in the middle?
- How will the Petrojarl I FPSO impact Finder Energy’s production and revenue forecasts?
- What operational plans does Finder have to maximise the value of the newly acquired FPSO?
- How might Steve Gardyne’s board role influence Finder’s strategic direction and partnerships?