Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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https://www.energyvoice.com/oilandgas/asia/254153/sunset-at-east-timors-greater-sunrise-lng-after-woodside-write-down/
Woodside Petroleum said the carrying value of the Greater Sunrise project off East Timor is expected to be zero following a US$170 million write down announced on 14 July 2020.
So if this ends up in a battle to take over the company, I'd expect there to be a bidding war...between China and Australia?!!!
Bring it on!
as posted earlier , OZ Senator 1974 Timor Sea set to be as rich in assets as the Middle East
and this another OZ Senator November 2019 when our license was awarded to SG
Perth, Australia:
An Australian senator says he is concerned that the country may be missing out on opportunities to invest in neighbouring East Timor‘s energy sector, and in the process allowing China to exert growing influence in the geo strategically important Pacific region.
As said if they have an interest they will do their own thing, if it happened to be Woodside
the operator of Sunrise right next door
They can and will get the data themselves and they processed 3.200 sq km of SUNRISE in
a FEW HOURS, how quick can they do our little old immediate area 800 sq km an hour or
two if they wanted, they would not they would do the entire license area again in a few
hours
The original 3 years , when the license awarded in November does not call for a drill
if however Chuditch deemed viable , it calls for an immediate upgrade and a drill
The entire area 50,000 sq km ALL of onshore and offshore Timor Leste , conducted
last year by same TGS who hold the data from the 3d 2012/13 Kyranis survey , as
keep saying NOT NEW DATA, just being re run psDm vice psTm processing, now't
more than prettier pictures to assess depth uncertainties, the re run will not
reveal Chuditch is not there , its the same data and chuditch on it in 2012 as it
will be on the snail trail re run
Plenty of 2d and the 2020 2d cubed entire region also to evidence Chuditch as
it has on several other previous surveys, forget the seismic, its all about a
NEW field operator and drilling
Timor Gap/ANPM our local partners pushing for progress and already talking to
many sector players, do you really think they will not be looking to get the ONLY
known UNDEVELOPED, already drilled and discovered , high volume DISCOVERY
in the now defined JPDA TL owned area , into production ASAP to keep the
Sovereign wealth fund topped up once Sunrise depleted (2025 ish)
The current knowns are ex majors (BHP/NEXEN) Buffalo oil field to be REDEVELOPED
and (SHELL/CONOCO PHILLIPS left) Sunrise now to go to production, leaving the
ONLY one not in play CHUDITCH (SHELL GIIP 5 TCF+ +oil/condensate upside)
We are a minnow in a Regional Development area, now moving, as per the Australian
senators statement in Parliament just before the invasion , we are back to his 1974
statement
The Timor sea set to reveal assets to rival the MIDDLE EAST
Then the first lot of **** hit the fan
This is all about what OTHERS plan to do with Chuditch , NOT BOIL
a new majority owner operator , will set their own timetable and ours will be
thrown in the bin and doubt they will ignore SHELL £37m spend and development
mapping and discovery drill, or a Norwegian group who then planned PRODUCTION
in 2009 by floating platform recovery at CHUDITCH
before also leaving behind due to further problems, this is not a wildcat play, as
mulder and scully would cry the data is out there
Our plan will have the impact of a fly on an elephants backside to an upper tier
offshore operator GLA
:))
Guys/Gals we are sitting on a MCAP of 9.13M
we have just raised £3mil in a placing less than 6 weeks ago
We've then gone through >2weeks of high volume to confidently say those who wanted a quick buck with the placing shares should be minimal at this stage and those placing shares sitting in the hands of medium to long term holders
We have increased BOILs shareholding in SundaGas from 33.33% to 85% and increasing our indirect interest in Chuditch, from 25% to 63.75% for a reason and chose to do this now rather than sit on it longer and let someone else buy in
We have now funded the next stage of the project especially the critical 3D seismic reprocessing and other works required - no need for further placing as of now
Plus directors took place in this funderaiser - they have a good idea of potential of this investment.
To me we are litterally now sitting on a fully funded company with operations costs covered until November 2022.
We have directors who put their own money into the company (always a good sign)
We know from historic data we are sitting on a decent amount of gas - how much now is the question but on conservative estmates we look cheap.
Yes we take a risk on what is actually found but i think we are perfectly placed to sit this one out and see what comes up in the next 12-18months.
Once anticipation of results kick in we may move quickly from a mCAP of 9.13mil to anything upto 500mil (looking at 88e recent rise)
If no further placings then thats a potential SP rise from 0.09p to 4.93p over a period of 12-18months
What not to be excited about right now!
So anyone watching and waiting at this point there is very little risk especially with the recent placing.
Buying the dips is the game while we make our way up to the top!
Hope you all have had a good weekend so far :)