Completed acquisition of all interests in Fundare Resources. The acquisition price is 278 million USD, with part of the funds raised via an RBL. The company plans to utilize assets adjacent to the Verdad asset to promote production and development, achieve unit cost reductions through scale, accumulate operator experience, and pursue new opportunities.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","meta":{"Ticker":"","DATE":"","longName":"","company_name_ja":"","fullTimeEmployees":0,"address":"","phone":"","website":"","industry":"","sector":"","regularMarketPrice":0,"financialCurrency":"","marketCap":0,"fiftyTwoWeekLow":0,"fiftyTwoWeekHigh":0,"epsTrailingTwelveMonths":0,"epsForward":0,"bookValue":0,"totalRevenue":0,"OperatingIncome":0,"operatingMargins":0,"NetIncome":0,"profitMargins":0,"ebitda":0,"trailingPE":0,"forwardPE":0,"priceToBook":0,"returnOnEquity":0,"recommendationMean":0,"recommendationKey":"","targetMeanPrice":0,"numberOfAnalystOpinions":0,"analyst_earnings_data":"","dividendRate":0,"dividendYield":0,"payoutRatio":0,"totalEsg":0,"environmentScore":0,"socialScore":0,"governanceScore":0,"title":"","providerPublishTime":"","link":"","longBusinessSummary":"","longBusinessSummary_ja":"","quarterly_revenue":0,"quarterly_net_income":0,"quarterly_operating_profit":0,"enterprise_value":0,"price_fetched_at":"","company_officer_1_name":"","company_officer_1_title":"","company_officer_2_name":"","company_officer_2_title":"","company_officer_3_name":"","company_officer_3_title":"","company_officer_4_name":"","company_officer_4_title":"","company_officer_5_name":"","company_officer_5_title":"","company_officers_update_time":"","get_dividend_history_year1":0,"get_dividend_history_year2":0,"get_dividend_history_year3":0,"get_dividend_history_year4":0,"get_dividend_history_year5":0,"get_dividend_history_year6":0,"get_dividend_history_year7":0,"get_dividend_history_year8":0,"get_dividend_history_year9":0,"get_dividend_history_year10":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jir_stock_code":"1662","jir_company_name":"Japan Petroleum Exploration Co., Ltd.","jir_importance":"\u2605\u2605\u2605\u2606\u2606","jir_publication_date":"2026-10-02","jir_source_link":"https:\/\/japanir.jp\/wp-content\/uploads\/2026\/10\/1662-20261002-01.pdf","jir_short_summary":"Completed acquisition of all interests in Fundare Resources. The acquisition price is 278 million USD, with part of the funds raised via an RBL. The company plans to utilize assets adjacent to the Verdad asset to promote production and development, achieve unit cost reductions through scale, accumulate operator experience, and pursue new opportunities.","jir_summary":"### Acquisition Overview\nJapan Petroleum Exploration Co., Ltd. announced the completion of the acquisition of all interests in Fundare. The acquisition price is 278 million USD; approximately 220 million USD of the funds were raised through Reserve Based Lending, and the remainder was funded with equity through Peoria Resources, LLC. The acquisition was completed on October 1, 2026 local time. The company intends to utilize Fundare's assets, which hold leases adjacent to the Verdad asset, to enable efficient development and achieve unit cost reductions through scale.\n\n### Future Policy and Impact\nThe Company and Peoria will focus on production and development of the Verdad asset and Fundare's assets with the aim of generating early revenue. They will accumulate operational expertise as an operator and continue to explore new business opportunities.","jir_financial_highlights":"Acquisition price: 278 million USD (Unknown)\nRBL financing amount: approx. 220 million USD (Unknown)\nLocal assets\/targets: Fundare Resources Operating Company, LLC and 3 others (Unknown)","jir_category":"","jir_hashtags":"#ResourcesDevelopmentIR, #TightOilAndGasBusiness","jir_key_figures":"Acquisition price: 278 million USD (including unknown timing)\nRBL financing amount: approx. 220 million USD\nLocal completion date: 2026-10-01","jir_meta_title":"Japan Petroleum Exploration: Completion of Acquisition of All Interests in Fundare\uff5cOctober 2026","jir_meta_description":"Japan Petroleum Exploration Co., Ltd. has completed the acquisition of all interests in Fundare for 278 million USD, with approximately 220 million USD raised via RBL. The company will advance development around the Verdad asset and accumulate operator expertise while pursuing new opportunities.","jir_og_title":"Japan Petroleum Exploration: Completion of Acquisition of All Interests in Fundare\uff5cOctober 2026","jir_og_description":"Japan Petroleum Exploration Co., Ltd. has completed the acquisition of all interests in Fundare for a total of 278 million USD, partially funded through RBL. The company plans to strengthen development around the Verdad asset and accelerate revenue generation.","jir_og_image_url":"\/assets\/og\/company-general_ir.jpg","jir_chart_data_collection":"[]","ir_related_company":7990,"ir_release_date":"","ir_type":"","ir_is_new":false,"ir_document_url":"","jir_ir_type":"corporate_restructuring","footnotes":""},"sector":[],"importance":[],"class_list":["post-127111","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n