Simpson Grierson acted as New Zealand counsel to AIM-listed Sunda Energy plc on its acquisition of Matahio Energy NZ Limited, operator of several producing oil and gas fields in the Taranaki Basin.

The transaction, signed on 8 April 2026, involves Sunda acquiring the Cheal, Cheal East and Sidewinder producing fields, and the Puka exploration permit near Stratford. The assets are currently producing approximately 1,000 barrels of oil equivalent per day. 

The deal is structured as an acquisition of Matahio Energy NZ Limited and is valued at up to US$14 million (approximately NZ$24 million) plus potential contingent payments, with Sunda conducting an associated fundraising on the London market. 

Sunda Energy is seeking change of control consents from New Zealand Petroleum and Minerals in respect of the affected permits.

Resources Minister Shane Jones welcomed the transaction as a positive signal for New Zealand's petroleum sector, noting the entry of a gas-focused international operator into established Taranaki assets with existing infrastructure and a skilled local workforce.

Simpson Grierson Corporate Partner Don Holborow, who led the transaction, said the deal reflected renewed international appetite for New Zealand's upstream energy sector.

Don says: "This was a genuinely complex transaction involving multiple workstreams across corporate, property and tax, reflecting the depth of due diligence required when an international operator acquires producing permits in New Zealand for the first time. 

“Sunda Energy is a focused and ambitious entrant into the Taranaki market, and we were pleased to help them navigate the New Zealand regulatory and commercial landscape to get this deal across the line," says Don.

Simpson Grierson's Wellington-based team was supported by Corporate Special Counsel Chris Browne, Senior Solicitor Isabel Van Tuinen and Property Partner Donna Hurley. Our Auckland team involved in the deal included Tax Partner Barney Cumberland, Tax Senior Associate Andrew Priestley, and Real Estate Senior Associate Ed Warren. Field Fisher in the United Kingdom acted as UK counsel to Sunda Energy.