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Tank you hfb. Yes I am in copl aswell very excited. Always find yours and shaa posts very informative
Is anyone following the trades ? How much more they’ve got to sell until we free ?
I reckon half is done
as our BOD stated
to further define the size of the Greater Chuditch accumulation and the potential of nearby untested prospects, through seismic reprocessing and drilling, in order to formulate plans for commercialisation.
The figures computed by SHELL clearly indicate the size of the potential prize
I know, until the placing shares are cleared we still have our breaks on. But I will put more in if it does retrace
Is anyone following the trades ? How much more they’ve got to sell until we free
welcome aboard shirlock, if you thought copl in for a wild ride for the next couple
of years, this one will be like your knuckles on the fair ground ride from hell lol
:))
IF and its always IF in this sector, all falls into place , big player return, cracking deal
cash , free drill ride etc and still holding a nice percentage for the journey GLA
:))
Shirlock
Thanks for mentioning this on copl hub missed my .055 entry point. Got in at 0.06 and topped up again this morning. Ready to top up again should we have a retrace
Possible retrace who knows , this is a small share can you go fast up and also can go quite fast down as well
Thanks for mentioning this on copl hub missed my .055 entry point. Got in at 0.06 and topped up again this morning. Ready to top up again should we have a retrace
who hung up the phone lol
called immediate upgrade of the license and an exploration well
So area moving , urgency to take control of SG , Conference +seismic and presume data room
now open people viewing the 2d on our area and 3d to come
Our overlooked til now butterfly about to spread its wings also
:))
Summary
Ex Shell asset that they already spent £37 miillion in development , including the Chuditch-1
Discovery well
Their initial assessment of those leads near on 6 TCF of GIIP with much upside across
the wider license (Standard conversion 1 TCF = 170 Million BOE)
Shell drilled CH-1 in only 26 days if I remember at a cost of $8 million
So potential rapid FFD
Timor Leste appear to have now done a U turn on Sunrise and all now to be processed
and the Woodford/other massive new refinery/LNG complex at Darwin, if you look at the
map/link (few mins ago)
Darwin already has a gas pipeline all the way from Darwin to Bayu Undan Gas field, the short
join the dots tie in of Sunrise to Bayu Undan would come right past us, giving us an even
shorter tie in to that production pipeline
In recent weeks several licenses have sprung back into action after years of delays due to the
politics, now all resolved, with multiple drills planned including by Santos and our own
London Listed Adv Advance with another Aussie Carnarthon?
As part of the new license round TGS (Norway a world leader) commenced 2d cubed seismic over
the entire area 50,000 square KM, the first data according to its website last year was to be end of
July and all by October for viewing in a data room - bids for round to close late October
The Government in September announced the licences which where to be awarded in December
and issued in January was now being delayed to give bidders more time
Our now 85% owned Sundagas has been a leading contributor and organiser of multiple
local TL events and Oil and Gas conferences assisting the local NOC with CGG, so the expectation
was we might also GET one of the new bid licenses
NOW
24th March we announce the current churn placing to take 85% of SundaGas equity
WHY NOW, we attempted to RTO them 100% shortly after they stole the license on the
cheap , nepotism lol, one of the 2 directors who invented and listed SG on the Singapore
exchange , related to one of our own BOD :))))
We in a tough market at the time could not raise sufficient funds and just took 33%
as said so why now the rush perhaps
25/26th March - 3rd Timor Leste Oil and Gas Conference (this time online)
Again SG and CGG heavily involved and original announcement was 25th
then became a two day event (hmm)
Two agenda items of note
A major presentation by Sundagas on the Chuditch discovery and the prospects
within the full license area
CGG had 2 big slots but most interesting the title on the 2nd slot
A presentation on the super resolution Seismic and the prospects it has revealed !!!
This surely could only be referring to the 2020 TGS 2D 50,000 sq KM data?
TGS are now currently reprocessing the 3d that includes our block and has been made
available to SG
The license itself the day it was awarded to SG and Timor Gap the local NOC had this condition
on confirmation of Chuditch being prospective , the license IMMEDI
The Chuditch North , labels where called something else by shell WOMBAT and things
SundaGas changed all around the Chuditch discovery in Chuditch this that and the
other will have a look later see if its still around but shell and other majors pulled out
of the Greater Sunrise (see link) and its own Chuditch license due to politics as you
can see if the now proposed transport of Sunrise production to Darwin is to happen
the most likely tie in is to connect sunrise to the existing Bayu Uadan ? pipeline
which already runs from Darwin to the border of TL and OZ dividing line for who
owns what GLA
:))
https://www.baronoilplc.com/wp-content/uploads/2020/01/timor-leste-map-1024x436.png
Agree, also your potential SP’’s if possible HFB.
Thanks.
HFB Thanks I stand corrected. Even better then.
I took that info mainly from the website.
Be great if you could do a summery like that for new investors?
HaHa mannan
and why get up I ref you to my post just before close yesterday
CALLING IT
I believe was the cry lol
and Roast nice reminder but do not forget TIMOR LESTE is now 63.7% not 25%
via our increased holding over Sundagas equity raised from 33% to 85%
The full Shell report was also 5.73 TCF for all the leads around the Chiditch Discovery
(right side of license) but also established several leads to the other side of license
another half a dozen or so , which they suspected at least a couple of being Oil
or Condensate reservoirs
The Chuditch area 5.73 TCF = 974.1mboe if the other side contains as much we
could have a license developed by a major stolen for a song with 2 Billion +boe
across it
and finally the man who said ya dropped a zero off the bags , long term he could
be spot on , multi bagger short term but MEGA multi bagger in the long GLA
do not hurry to reply , need some brekky lol
:))
cooking on gas LOL, now up 31%
Just wanted to share some figures with the board.
It really does put the size of this into perspective!
Investment Notes Baron Oil
Timor-Leste 25% Interest Offshore
Drilled by Shell in 1998, 25m gas column estimate 700 Bcf OR 124675 Million barrels of oil
UKCS P2478 -Inner Moray Firth 15% Interest Offshore
174 Million barrels of oil, with potential for 396 Million barrels of oil
Peru Block XXI – El Barco 100% Interest
Low risk oil sands
Unrisked P50 recoverable Prospective Resources for the low-risk Mancora Sand are estimated internally by Baron to be 14 BCF OR 2493 Million barrels of oil
Please read those figures again, this could be an absolute giant! MC Currently £7mil