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MPA keep the faith pal!
To paraphrase Bill Shakespeare, beware the Chinese farts.
Interesting week ahead indeed HFB!!! Fingers crossed it looks promising
Nothing in our regional news today , looking at Nigeria for copl came across this
Various news outlets in the UK said the ministers pointed to evidence that the virus could be spread
by people breaking wind in confined spaces
enjoy the rest of your weekend, could be a fingers crossed leaky big week coming up
Timor Leste future and strategic planning event 27-30th July
Lets hope it includes a decision on future Gas/LNG production and processing
The TLDPM is a High Level annual conference in which the Government meets all development
partners of the country for a reflection on the achieved goals and an analysis of the challenges
o be faced, in accordance with the strategic plan for the future of the nation
Yes some good reading thanks HFB!!!
Cracking post, you're on good form today and getting me wanting to pile in.
I had not even thought of the quality and magnitude of the gasman corp. Good info thanks, bit of it then rests on the pigs back.
'Cove holds an 8.5 per cent stake in a block off Mozambique where Anadarko Petroleum has found as much as 30 trillion cubic feet of gas.
Comparisons to BOIL numbers sure do get the blood moving!
Sublime posting HFB,
I strongly believe the 1m people of TL have made their views know to their politicians. The politicians understand the national dilemma.
Yes, fully agree, more towels are needed.
Between this share, and with the party tunes being prepared for COPL relisting, I will need many tonnes of finest Egyptian cotton, between now and end of year.
Cove Energy... If I remember correctly. TK
all depends on that Gasman's name, another without the deep pockets won't do us
much good as said Shell thought Chuditch could be as big as Sunrise and its group
of 4 spent over $400 Million in dev by 2010 ((what that in 2021 onwards costs)
The industry know the score , so do the market , only a REAL offshore operator
International or regional heavyweights like Woodside , Santos , Origin will actually
be able to develop on such a large scale asset
Another chancer looking for a cheap in and we will look for another partner will not
cut it , Sunrise has 24/26 wells looking for a home, we without such a partner will be
looking at snail pace and a well ,with a short funded partner looking for a quick buck
sell on after a drill
We for maximum benefit to long suffering holders , not the feathered nested directors
require a partner that is capable of FFD and like Sunrise next door 25 wells not 1 or 2
that will pay chicken feed to them for a majority deal JV or outright take out worthy
of such a huge asset
Forgotten the name again (someone will remember) offshore Tanzania/Mozambique
London listed began with a C (duh) sold its similar sized portion of a massive gas field
a few years ago
Shell came in first , the share sitting at 22p with a first offer around 85p p.s. a bidding
war ensued , with the Thailand NOC eventually winning the day pushing the cash bid
to a Massive £1.25 Billion
Markets not quite as good as then but recovering BUT imagine if Shell decided to return
and take their OWN mapped and drilled Chuditch baby back knowing exactly what's at
play (potential $65 Billion+ like sunrise)
and a CASH offer like that to take all 75% , divided by our share base will leave Shouston
drooling and in need of more towels than exist made of Egyptian Cotton (soz m8) and
screaming SP of
HOW MANY PENCE !!!!!!!!!!!!!!!!!!!!!!!
Come on TL Gov , bring it on
make him drool , we dare you lol
That will all depend at what point the market decides to correct itself
Since the original deal for 25% the market has been non plussed about our Chuditch
holding , the initial was Shells 90's documentation which is much BIGGER but had little
We holders thought what a deal even if the RTO did fall on its arse , even 25% or such a
monster asset , the of course reality sunk in , the 20 years impasse , no facilities , so
worthless without and alternate but the TL Gov adamant all those 20 years , its ours and
we will process it all
More of a slap at the outside world, got rid of the Portugal and European colonials , to be
immediately invaded by neighbours Indonesia (1974/5?) lots of further struggle and UN
peace keeping, then got a 2nd bite of the cherry 1999? and declared independent again
So the heels dug in old liners , more or less planning all with a WE DO NOT NEED YOUR
INTERFERENCE attitude, we can look after ourselves and our assets
They have been moved aside with younger more progressive leaders now in charge of
both the Government and the Ministry , so that was the first GLIMMER of daylight that
things where about to move in the area
June 2020 Gov , we have serious worries about the previous Gov plans and costing and
or lack of the Beaco Tasi Mane project and its financial viability
which is what Woodside and the others said back in 2005 after a feasibility study conducted
they stated Geologically very very challenging to not only build the infrastructure and refinery
etc but the pipeline COULD in theory technically be achievable BUT hugely expensive to do so
Nov 2020 The new and very experienced Minister for Petroleum (ex Petrobas) then made a
statement , they had previously put the cart before the horse and a full review was now being
conducted to assess financial viability
Good and bad news as he went on to state options where being looked at and that included
a NEW alternate on Island industry plan, switching from the South Coast (Beaco/TM) and
direct pipelines from Sunrise across the Timor Trench
To an alternate TBD location in the North , with a less challenging but much longer pipeline
heading east and swinging back to the Island to remove those more challenging placements
across the deep Timor Trench
Fingers crossed as said the Timor future and strategic planning meetings 27-30th July
reveal something , anything , is it plan A, B/TM , plan B, the alt , or the one Woodside
and others have long waited for plan C any available FLNG or available Darwin pipeline
I'd guess it would be chump change to a big player, but to our mcap it would send it into space.
Not sure I know of another company where the mcap is so low and a rocket is so imminent.
Plenty of stocks waiting for for X,y and z to fall into place.
All we need is for gasman oil corp to declare an interest and I think we are bagging immediately.
I was wondering that what the sp could be if the government give the go ahead for drilling etc and then let's say shell or another massive company want a piece of this.
Cracking sharing hfb.
All the couple stuff was easier and out there but it's a proper dig for BOiL
Taking in politics history seismics big gas players, war, civil war and spying!
So well done mate.
If you get a chance or next chance indulge us and give us your predicted outcome if a big player arrives. You experience of mcap prices on this situation.
Hope you're in good company.
if your at a loose end click on my history no end of links posted on this one's
history and the old guard's cut nose off to spite face craziness and impasse
with the Industry and OZ
All seems to be moving in the right direction BUT having been stiffed and frustrated
by the Islands "its all ours and will be processed on the Island" without ever building
The Big players like Shell who gave up and went home WILL need some real words
and proving ACTION's to convince them to return and spend hundreds of millions on
a large scale offshore development license
Sunrise Consortium of 4 had spent over $400 Million in dev by 2010 with further
costs still to come to actually get into production and processing, Shell thought
Chuditch could be equally as big having spent £37 million on mapping and CH-1
discovery drill (about £50m now)
So Shells figures for Chuditch back in the 90's for the area Boil/SG concentrating on
over 5 TCF plus condensate , Boil/SG latest update caching up BUT they have not even
looked at the other side of the licence (3,571 sq km) just the immediate CH-1 drill area
(800 sq km old seismic being re run)
Shell indicated a huge amount of further upside to the South West of the license , they
suspected a handful of further leads present , 2 of which they thought could be large
Oil or Condensate reservoirs
So which ever way you look at it this is a Major's ASSET in the hands of a minnow, nest's
of both sets of Directors now well feathered
Green light and they become EXCEEDINGLY rich and a good few on this board will also
make life changing profits
As said nothing to do will chancers SundaGas , now owned by Boil or Boil for that matter
all about that TL Gov and a Green Light to Monetise assets , that has been awaited by
Woodside for 20 years
So be it taken out, if the news does come , or a deal Boil will be transformed in an instant
stranded asset , now back in play worth 10's of Billions like Sunrise ""IN"" production
Hopingforbags, thanks for all the links. You’re commentary is superb and very welcome.
Picked up 6m this week and will be picking up a few more soon all being well.
Some other historic light reading for the weekend lol
HFB - keep up with the great & informative posts & for those researching over the weekend:
they have 4 days of future planning and strategic planning meetings 27-30th July
we are all HOPING , the TL Gov make some decisions during that conference
It broad based for ALL things Island future progress related but again we are all
HOPING that major actions to replace depleting Sovereign Petroleum Wealth Fund
are high on the agenda
The SPWF pays for between 85-95% of the Islands budget requirements each year, so they
have stated , Kitan Oil depleted , Bayu Undan main reservoir depleted and the fund itself
will be depleted on expected expenditure between 2028-2030
Those figures include possible revenues from the 2 band aid's Buffalo Oil re-dev (ex BHP/Nexen)
and Bayu a new drill program target like Buffalo around a possible 30mbo/e additional reserves
With the no brainers of Sunrise 1.6 BILLION boe still sitting STRANDED waiting for a processing
and monetisation OPTION and our own, developed like sunrise by shell Chuditch nearby at a
mere 1+ BILLION boe just waiting for that green light
Considerably more than the 2 band aids 60mbo/e Versus 2.6 BILLION boe WITH UPSIDE (shell)
It's a really simple decision , stop talking (20 years+ ) about building Beaco Tasi Mane for Gas/LNG
export and Island self supply to their own power stations, with new Airport , new port facilities
and pipelines to the Island (est cost old $16-$20 BILLION)
OR save those Billions the current balance of the SPWF around US $17 Billion would wipe it out
and allow the OFFSHORE operators (whole timor gap seaway gas charged) to take their discoveries
and process them, where they feel it's most comfortable and cost effective
Even the default op of sunrise after Shell and Conoco left frustrated during the impasse , shot its
own purpose built facilities at Darwin down (2001 plan pipeline to Darwin) in favour of the new
Shell invention of a FLNG Super Barge system to be built by Korea and sat over the Field with
around 24/26 wellheads connected , Woodside yep we can live with that ,its much cheaper and
we can find another use for our Darwin facility
As been saying for months its all nothing to do with Boil/SG and all about the TL Government and
a policy , any policy that will encourage the REAL offshore players BACK , they have even stated
the do not want more hopeful minnows (boil sg , carnathen/advance)
They want deep pocketed REAL offshore operators to return and fast track developments
that translates to they want the Shell's etc to return and fund another development that
will cost 1/2 a billion to get ready but will produce massive revenue and taxes over its life
IT REALLY is all about THEM
Fingers crossed they make US all MULTI MEGA BAGGERS sooner rather than later , some of
us do not have, another 20 years available to wait for perhaps, probable ,maybe Tasi to be
built promises like back in 2002 LOL
Evening all , may i ask , just to clarify is everything pending on the outcome of this meeting over the 27th - 30th?