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Shouston m8 , want to take a bet that export option , will be Beaco Gas/LNG Export
facility once if/when built on the Island, as talked about for 20 years , lol ;))
Fingers crossed Spotify
they left it way to late , 3 weeks before the already , 1 year extended bid round closed to get
interest going , even if it was an announcement of the same old same old , we want to build
Beaco and process all gas on the Island
January would be good this month would be better, if they want a successful outcome to
the now twice extended bid round. They have to commit and give a realistic monetisation
option.
The only option as far as the Island goes, for over 20 years has been processing at a non
existent facility on the Island.
Now have to commit, otherwise the deep pocketed players they want to return , will not.
Build it or allow the other long standing options , denied Shell etc that led them to leave
The Island moves , we move , as binary as it gets. GLA
;))
Roll on January 2022.
Oh, and as Jarv55 has pointed out, possible export options.
Something will boil over, its got to!!
OK RNS did not light any fires, but informed us of progress.
Q2 next year was a stated timeline. By Q2, TL should have a new President, by then the final investigation on integration on island should have been made. (The proverbial boat has started its engines...)
Remember our bod are not renowned for rampy RNS,just factual, but they are closely connected to the island.
January webinar is not so far off. Happy to hold and accumulate...
GLA
Nutshell , Island confirm a home to go to = monetisation = mega multi bagger
minnow holding 75% of a Majors asset
;))
Nothings changed but hoping that line is an , they expect the Island to have made progress
by January
Otherwise it means zilch, 2001 , Shell , Conoco , Woodside and Osaka gas agreed and announced
Greater Sunrise WAS going to be piped (direct south , link up with the Bayu-Darwin line) and WAS
going to be processed at Woodside Gas/LNG facilities currently being built at Darwin, Production
to commence 2003 going to customers Conoco already had in the USA
The Island said NO, later when Shell invented the SuperBarge FLNG system , Woodside agreed it much
cheaper than their own Darwin facilities and made FLNG its first option also , all 4 on the same page
presented to the Island again for 2008/2009 production , the Island said NO
The Islands stance for over 20 years , has always been its ours , it will be processed on the Island at
Beaco Gas LNG export facilities when built THAT IS THE EXTENT OF ALL OPTIONS
Until the Island say otherwise, the studies being done now , have already been done before and all
came back challenging (pipe across the timor trench) but all possible at a cost.
They offered it far and wide , all the upper tier/Majors declined their kind offer to pay to build Beaco
the pipeline and operate it, so did the China BRI BUT it was a flaky plan all about Sunrise with no
real plan of what happens next.
The big difference this time is , a coordinated 3 fields timed to commence production together at Beaco
once built , Kelp 14.5 TCF , Sunrise 8 TCF and Chuditch (shell in the 90's at least as big as sunrise)
That possible 30+ TCF (5.1 Billion boe) starter , imo should find a funder/operator this time around
and that decision to BUILD , not talk about about it for another 20 years, must come before the now
twice extended bid round closes in the spring.
Or it will be the same again , extended another round of worldwide roadshows etc , to attract the
deep pockets required for such projects , they even made a statement , they are not looking for
more SundaGas , ADV , Canarthens, they want those that left to return.
Sunrise was put on care and maint, back in 2004 but the last figure I saw published in 2010 was the
original partners had spent over $400 million on development so far (deep deep pockets required)
BIgger fish than ours have SAID and it failed to happen, as it has been since the beginning , ONLY
what the Island says and does will make value return to the stranded gas fields , like Sunrise on
Woodside books at $0.00 , valued at $65 - $75 Billion at the O&G Conference March 25th this year
when gas prices where much lower.
And the enormous Kelp 14.5 TCF as big as Chuditch and Sunrise put together, sitting currently with
neither an operator or a current license issued. (part of the bid round)
Baron currently still playing catch up 3.5 TCF , Shell 5 TCF but could be double as suspect Chuditch
Wombat and Bilby (SG renamed all chuds now) could all be one massive super field
on
Investor Webinar
An Investor Webinar on the Chuditch asset is planned for January 2022. The presentation is expected to include an updated technical overview and a discussion of the overall commercial context of Chuditch, including potential gas export options. Details of the Webinar will be announced in due course and a copy of the presentation will subsequently be posted on the Baron website.
One day indeed
the thing that has changed since Shell and others departed, is the Islands old guard
(ex independence freedom fighters) have now become a minority in Parliament.
The upcoming younger (well middle aged lol) brigade have now recognised they can
no longer sit an hope for it to all fall into place, last budget statement in May , the SP
fund (Bayu/Buffalo poss reserves factored in) will be depleted by current planned
expenditure (other sectors growth and health/education) by 2028-2030
The 2022 budget was read to Parliament just the other day and its spend has been
reduced to preserve the SP Fund
They know it's now or never , expect a decision long before the extended bid round
closes this time, to attract the level, of deep pocketed players they want to return.
Be that Beaco BEING BUILT or scrapped and other back fill/pipelines or FLNG permitted
TICK TOCK the Island is on the clock GLA
;))
Disappointed with that rns no details at all
Thanks for the summary HFB.
ADV
Has no bearing on our asset , it is chasing possible reserves , from the ex BHP and Nexen Buffalo
Oil field , Oil has a home to go to , Gas does not , that is what has to change , for us to get real
value , Sunrise next door valued at $65-$75 BILLION , still sits on Woodside books at $0.00
no home = stranded and worthless , as all Gas with the exception of ex Aussie (pipeline in place)
Bayu Undan field (main reservoir depleted also chasing reserves) has been for over 20 years
Did say , the snail paced seismic , just going through the motions of a license requirement and
without a home to go to , will just be labelled like it was by Shell in the 90's as big or bigger
than Sunrise (read above)
planned pipeline to Darwin 2002/2003 Island said no, we want Beaco
planned superbarge FLNG 2008/2009 Island said no, we want Beaco
Seismic will give a boost but not a BANG , without confirmation of a monetisation route
Build , not talk about Beaco, or allow the above denied to Shell, so they left 2 licenses
both at the time , estimated to be in the 5 - 10 TCF range (850/1700mboe) plus condensate
Sunrise ended up 8 TCF plus 250mb condensate and remains stranded,
still waiting for Beaco/Other
Still remains the same , Warrens Buffett's 3 P's GLA
:))
If ADV spud results are positive will this contribute towards some more interest in BOIL
Indonesia today , looking to up scale exploration , they think from work done recently
they could have around 10 Billion boe in Eastern Indonesian basins, one of those
being the Timor basin. (West side of the Island is Indonesia)
Just goes to show again , the piggy in the middle undeveloped Timor Leste waters, surrounded
by no end of Australian and Indonesian Gas discoveries either side, we have Chuditch , are in with
the locals and taking part in the bid round (RNA message), ya never know lol
:))
ok technically it already has a 49% interest in Corallion, so does already have a non-operated interest, but if Corallion was selling up everything it could use it's position as a major shareholder to acquire the rest of Corallion's interests in Dunrobin, RBD generally like to have @ 30% or more