🚨 Major milestone for the KTJ Project offshore Timor-Leste 🌊
Finder Energy (ASX:FDR) & TIMOR GAP have signed a binding Farm-In Agreement:
✅TIMOR GAP boosts stake to 34%
✅Funds 50% of development (~US$180m)
✅Accelerates path to FID
A step closer to Timor-Leste’s first sovereign offshore oil development.
For more information, see the announcement at 👉 https://t.co/B27VrbR4X1
$FDR #TIMORGAP #KTJProject
Serious announcement by $FDR $FDR.ax. Timor Gap putting up US$170M (50% of capex) and increasing their project equity to 34%. FDR effectively getting a US$55M free carry while maintaining 66% equity and operator-ship. Company making stuff
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