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Sunda Energy shares jump 121% after New Zealand grants 10-year petroleum mining permit.

Market News
28 Aug 2026
Proactive Investors
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Bullish
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Sunda Energy PLC's shares surged 121% following New Zealand's regulator granting a 10-year petroleum mining permit for Taranaki assets it is acquiring. The permit covers the Puka oil and gas field and Oru exploration prospect, with completion expected in September pending government approval. This deal shifts focus to restarting production and exploration in New Zealand, offsetting setbacks from a terminated gas contract in Timor-Leste. Other small-cap movers include Galantas Gold, GENinCode, and Galileo Resources, while some companies like Forgent and GenIP saw share declines due to dilution and financial concerns.

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