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Sunbird Secures $25m Capital Injection & Strategic Partner

Sunbird is pleased to announce that binding agreements have been executed which, once fully completed, will deliver over AUD$25m (subject to exchange rates) to the Company and secure a major strategic partner to help advance development of its Ibhubesi Gas Project in South Africa.

The full announcement can be viewed here.

Block2A

USD$5m Vandasia Investment Completes

The USD$5,000,000 Stage 1 investment by the Pan-African investment company Vandasia Investments Limited (Vandasia) equates to AUD$0.277 per share which is a premium of 45.6% to the Company’s closing share price on 8 September prior to announcement of the Transaction

Further details can be seen here.

IGP RIG

Sunbird Signs MoU with Eskom

Southern African gas explorer and developer, Sunbird Energy Ltd has signed a Memorandum of Understanding (MoU) with the South African State owned power utility Eskom to jointly investigate gas supply from the offshore Ibhubesi Gas Project (IGP or the Project), South Africa’s largest proven gas field to Eskom’s 1,300 MW Ankerlig Power Station.

The full announcement can be viewed here

Welcome to Sunbird

Sunbird Energy Ltd is an ASX-listed (ASX:SNY) gas explorer and developer focused on southern Africa where limited domestic gas supply and growing energy needs have created significant opportunity for the development of large scale energy projects.

Having completed the acquisition of a 76% stake in the Ibhubesi Gas Project offshore of the west coast of South Africa, Sunbird has the right to operate and develop the Ibhubesi Gas Project, South Africa’s largest undeveloped gas field. Joint Venture partner PetroSA, South Africa’s national oil company, holds the remaining 24%.

The Ibhubesi Gas Project has multiple development opportunities to supply the high value South African energy market including ongoing gas sales negotiations with Eskom for the provision of gas to the existing Ankerlig Power Station, Independent Power Producers and major industrial users.

Sunbird also has a portfolio of five Coal Bed Methane (CBM) projects covering an extensive area (10,070 km2) of prospective coal basins in South Africa and Botswana.