Finder’s portfolio comprises interests in 10 permits or licences located in on the NWS and the UK North Sea. The five permits on the NWS are exploration permits for
petroleum and cover a total gross area of approximately 14,051 km2. The remaining five permits are made up of four Seaward Production (Innovate) licences and one
Seaward Production (Promote) licence within the Phase A exploration period and are located on the continental shelf of the Central and Northern North Sea and comprise a total gross area of approximately 1,918 km2.
The Kanga-1 exploration well is scheduled to spud in May this year. Kanga-1 is targeting significant resource potential in the heart of the Northern Carnarvon Basin. If successful, Kanga offers investors exposure to near term upside.
Finder’s portfolio contains numerous drill-ready prospects defined on 3D seismic and multiple farmout processes will be run in 2022 to secure partners for the next phase of drilling activity.
The Dorado oil discovery in 2018 opened up an exciting new play that has attracted enormous industry interest and activity in and around the Bedout Sub-basin. Eight of the last nine wells in this play have encountered hydrocarbons. Finder has secured a strategic position along trend from Dorado and has identified multiple
large prospects in this play.
Newly acquired 3D over the Gem prospect has high-graded this target as one of the largest undrilled structures in the oil-prone Vulcan Sub-basin. Finder will commence a farmout process in the second quarter of 2022 to secure a partner to drill this prospect.
Finder recently expanded into the UK North Sea targeting significant prospectivity in mature, oil prone areas, proximate to some of the largest oil fields in the North Sea. Finder’s Infrastructure-Led Exploration (ILX) strategy in the North Sea has already resulted in partnerships with owners of nearby production infrastructure.
It is anticipated that FDR will list on the ASX during April 2022.