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Boil movement wish list
1) TL Gov declare Tasi project cancelled OR China/Other funding now in place Tasi to be build ASAP
((We've all seen how quickly a Chinese workforce build can be done))
2) TL Gov Final Investment Decision (FID) for the giant Greater Sunrise Gas and Condensate field
with per the bid round comment , you are the experts we will not stand in your way, Woodside
after 20+ years given permission to implement their plans for FLNG or available pipeline back fill
3) Route to monetisation now in play , SHELL move quickly to claim their baby back , knowing
exactly what is in place at Chuditch , having spent around 50 Million in development/discovery
drilling during the 90's (Shell recently announced on the hunt for more Gas projects)
OR
4) Santos and NYSE listed ENI take control of Chuditch under their recent MOU looking to
back fill Bayu - Darwin Pipeline once new reserves depleted (if found) current reserves
listed depleted by 2022
//
100 - snail paced psDm seismic arrives and spoiler alert like much historic 2d and 3d psTm
(same data) the new 2020 TGS 2D Cubed (Presents like 3d) Chuditch like in 2012/13 found to
be present and correct but does confirm Shells theory that ALL the CH-1 drill area leads are
one huge reservoir due to better depth clarity than displayed on the original KYRANIS 3D
in psTm which had ghosting with numerous anomalous depth readings lol
:))
Apologies was looking for a director with initials SG.
Shakes ones head in shame
perhaps a correct assumption BD
fingers crossed being in with the locals , they know something we do not lol
had a heads up that the long awaited FID and monetisation for Sunrise to be announced to
bolster the bid round, Shell return pay SG (100% now Boil owned) a vast fortune to take all
of Chuditch away
meanwhile SG win (fix they cry) area P license (the link area between Sunrise - Chuditch)
and have 100's of millions from Chuditch sale to develop a large retained % of area P
If only Carlsberg did Timor Leste news releases lol
:))
Bridge
Wrong board I would suggest
Maybe SG think they just need to get the licence and then some smuck will pay all the costs for a 60% buy in... sound familiar?
Yes Shouston , had a chuckle to that one, the pre qual for bid round all states want majors
and upper tier deep pockets back in play
SG bidding faf , they have since 2019 been a teenager coming to parents Boil for financial
support , not exactly a fit with the pre qual statements lol
:))
Also a bit disappointed that they did not aggregate the questions and post response.
Did I miss them?
Perhaps an email to the company asking why no questions were answered?
Did I read correctly that SG HAVE registered for another licence in the second round.
If we go for plot P might equal, PLENTY more for BOIL.
FWIW, these guys are well integrated into local o&g markets...
Nothing SG have mapped new, same as 1998 data by Shell who also noted other leads
poss OIL or CONDENSATE to the South West of the main North East CH-1 Discovery area
The only thing required here , is clarity on monetisation of assets to bring forth
a New majority operator/consortium (Sunrise original 4 major/IOC's) Both Sunrise
and Chuditch mapped by Super Major Shell around 5 TCF plus condensate and upside
more recently Sunrise reserves up to 8 TCF and 250m barrels of condensate
Sunrise on Woodside balance sheet at $0.00 , Sunrise with production allowed
to be processed (anyway) valued at $64 - $75 BILLION
Chuditch is potentially as big a project, across the whole license per Shell's
historical figures, if processing clarity given , someone will want those billions
in revenues, from a successfully 2d/3d mapped and discovery drilled license, that
has already had over $50m spent in development, over a new exploration bid license
((unless area P lol - sits between Sunrise and Chuditch))
:))
2020 June New Gov make statement expressing concerns over the On Island Project
which had been declined by all players to build and operate and would take the entire
Petroleum Wealth Fund to finance themselves ( $16 - $20 Billion)
The fund pays 80-90% of the Islands annual budget each year and also stated taking in
to account poss small reserves at Bayu (3 drill now in progress) and Buffalo oil feild
re dev , the fund expected to also be depleted from budget requirements around 2028-2030
In 2019 Gov determined Sunrise long awaited (discovery 1974) FID final investment
decision should be made by 2022 (now mid 2021), the license round closes 1st Oct
be a good time to give some clarity to potential bidders prior to that date
as alway forget the snail pace re run of old seismic, as Woodside showed last year
Sunrise all license 3,200 sq km 3D in 2 hours, not just 800 sq km in 6-12 months
A real offshore operator arrives and the timetables will be ripped up as they do
their own thing with 3,571 sq km license and fast track to development
2018 Impasse continues Shell , Conoco Phillips decide enough is enough, decide to
leave, eventually cutting losses (consortium JV having spent $400m+ on sunrise dev)
Eventually a deal agreed for TL Gov to use $650m from the Petroleum Weath fund to
LOAN to the recently formed NOC Timor Gap to buy out Shell & CP's sunrise holdings
55%
2018 and ratified in 2019 NEW fixed Maritime boundary put in place all inside deemed
100% TL with the exception being Sunrise which stradles the border to be split 50/50
and OZ agree not to issue a new license for other exploration/dev its side of border
More recently a taxation split agreed 70/30% and 80/20% both in favour of Timor Leste
depending on processing location OZ or the Island
Despite the sweetener, the TL rep as leaving the building, stated we want on the Island
((at still not a spade in the ground facilities))
2019 New bid license round 11 offshore (expected gas charged) and 7 onshore (small oil
pools traditionally found) due to TGS 50,000 SQ KM 2D Cubed (presents like 3d) survey
not being fully available until October when the round closes, extended by 1 year to
give time to bidders, to view available results via ANPM state of the art data room
2019 Woodside again push for Shells FLNG processing option for Sunrise, gets nowhere
again and writes value of Sunrise off on the balance sheet to $0.00
https://www.oilandgastoday.com.au/woodside-backs-its-sunrise-flng-proposal/
Time for East Timor to give clarity to potential offshore license bidders
no monetisation route = NO POINT BIDDING
Time to confirm Facilities to commence building fast tracked ASAP
OR
Revenues and taxes NOW , declare Sunrise FID per Shell and current default
operator Woodside options, FLNG primary ,or pipeline back fill if available
2008
https://royaldutchshellgroup.com/2008/09/29/timor-fights-to-tap-undersea-gas-field/
and nothing has changed since, still no on, or being built Island facilities
East Timor Gov must now decide, finances v fantasy
2000 Shell and Conoco Phillips looking to produce Sunrise for Customers in the
U.S.A from around 2004 via pipeline to Woodside's own being built LNG thread at
Darwin complex, the Island nope we want to build our own infrastructure and
facilities
2009 Shell having developed a huge FLNG processing barge system to be built in
Korea capable of processing 4 million t.p.a, now it's prefered option for Sunrise
Woodside agree, the Island, nope we want on the Island at the still fantasy fac's
Algo no rhythm , not bright enough to mask anything lol
Just a total waste of space 50/50 sites punt label, on anything not at max or minimum price
and zero to do with the market floor, where better prices are routinely offered at both ends
as they seek to fill orders and relieve you of your transaction fee's on trades lol
:))
It looks like a lot of people have decided they are not in for the long game. then again the algorithm could be messing up my compass masking sells as buys as usual