"entered into conditional sale agreements with Eni and Inpex to...

"entered into conditional sale agreements with Eni and Inpex to acquire a 76% interest in, and operatorship of, PSC 19-11, offshore Timor-Leste"

"remaining 24% is held by TIMOR GAP, the national oil company of Timor-Leste"

"PSC contains four discovered undeveloped oil fields, including the fully-appraised Kuda Tasi and Jahal fields"

"enables rapid progress to production with additional upside provided by low-risk appraisal and exploration opportunities"

"acquisition transforms Finder into an explorer and developer with 45 million barrels gross 2C contingent resources"

"also low-risk, near-field exploration potential with a combined 116 million barrels gross mean prospective resources"

"cost is $2 million payable on completion, additional consideration of up to $6.5 million contingent on FID, plus a 5% royalty on production"

"undertaking a 1 for 1.26 Entitlement Offer at A$0.048 per new share to raise up to approximately A$6.0 million before costs"

"Longreach Capital Investment has provided an irrevocable commitment to take up its full entitlement of approximately A$3.2 million"

https://oilman.beehiiv.com/p/oilman-jims-letter-august-11-2024

Worth reading