Finder Energy Issues 12 Million Shares at 50 Cents in Tranche 2 Placement

Completion of Second Placement Tranche

Finder Energy Holdings (ASX:FDR) has completed the second tranche of its ongoing capital raising, issuing 12 million fully paid ordinary shares at $0.50 each to raise $6 million before costs. The shares were allotted to Amplus Energy (Holdings) Limited and substantial shareholder Longreach Capital Investment Pty Ltd, following shareholder approval granted on 12 June 2026.

This tranche follows the initial placement announced in April and May, which raised $21 million through the issue of 42 million shares at the same price. The latest issuance brings the company closer to its targeted $33 million raise, intended to bolster its financial position amid advancing development plans.

Strategic Shareholder Participation

Amplus Energy and Longreach Capital’s participation underscores continued institutional support for Finder Energy’s strategy. Both entities are significant investors, with Longreach Capital already holding a substantial stake. Their involvement may signal confidence in the company’s development trajectory, particularly as Finder progresses toward a final investment decision on its Kuda Tasi and Jahal (KTJ) oil project.

While the announcement does not specify the precise use of proceeds, previous disclosures have linked capital raises to the acceleration of the KTJ project, including engineering, procurement, and regulatory milestones. This latest tranche is likely to contribute to those ongoing efforts as the company targets first oil by late 2027.

Capital Raising in Context of KTJ Project Progress

Finder Energy’s capital raising activities come amid a series of operational updates, including regulatory approvals and financing arrangements designed to support the KTJ oil development in Timor-Leste. The company has lodged key environmental and field development plans and is working to secure debt financing, with a final investment decision expected by mid-2026.

These funding rounds, including the recent $6 million tranche, are integral to maintaining momentum toward project execution. The company has also taken steps to acquire ownership of the Petrojarl I FPSO vessel, a move intended to reduce costs and extend field life, further underpinning the development’s economics.