SUNDA ENERGY PLC

• ⚠

  Material uncertainty over going concern

  These conditions indicate that there is a material uncertainty which may cast significant doubt over the Group and Company's ability to continue as a going concern. After considering the forecasts and the risks, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

1. SUNDA ENERGY PLC 2024-07-01 → present
2. BARON OIL PLC 2013-06-28 → 2024-07-01
3. GOLD OIL PLC 2004-04-08 → 2013-06-28

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Gravita Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“These conditions indicate that there is a material uncertainty which may cast significant doubt over the Group and Company's ability to continue as a going concern. After considering the forecasts and the risks, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.”

Group structure

1. SUNDA ENERGY PLC · parent
   1. Sunda Energy Ventures Pte. Ltd. 100% · Singapore · Exploration of oil and gas
   2. SundaGas (Timor-Leste Sahul) Pte. Ltd. 100% · Singapore · Exploration of oil and gas
   3. SundaGas Banda Unipessoal, Lda 100% · Timor-Leste · Exploration of oil and gas
   4. Gold Oil Peru S.A.C 100% · Peru · Exploration of oil and gas

Significant events

• “The Company issued 6,528,023,360 new ordinary shares of £0.00025 each at £0.0005 per share on 29 February 2024 for cash, raising £3,264,000 gross (£2,933,000 net of costs).”
• “In February 2024, the Group received £719,000 arising from the farm-out of a 20% interest in Timor-Leste TL-SO-19-16 PSC to TIMOR GAP Chuditch Unipessoal Lda.”
• “During June 2024, the Bank Guarantee for the Chuditch PSC was increased from US$1.0 million to US$2.5 million.”
• “On 31 March 2024, offshore UK Licence P2478 was surrendered to the UK North Sea Transition Authority.”
• “On 24 April 2025, the Company announced that its wholly owned subsidiary SundaGas Banda Unipessoal, Lda. will be entering into a binding Farm-In agreement with TIMOR GAP Chuditch Unipessoal Lda. The Company also conditionally raised up to US$9.0 million by issuing unsecured convertible loan notes.”
• “On 13 May 2025, the Company announced that each investor subscribed for the initial tranche of an aggregate of US$1.5 million of Loan Notes, and funds were received.”
• “On 16 May 2025, the Company further announced that it had received notice from all participating investors to convert all outstanding Loan Notes into Ordinary Shares.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

14

last 12 months

Capital events

5

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  -15.7%

  £3,760,000 → £3,171,000

• Net assets

  +12.9%

  £8,255,000 → £9,319,000

• Employees

  +20%

  10 → 12

• Operating profit

  -18.4%

  -£1,858,000 → -£2,199,000

• Profit before tax

  -19.7%

  -£1,712,000 → -£2,049,000

• Wages

  +48%

  £221,000 → £327,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers