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Morning Shaa. Welcome to what we expect to be COOL mark 2
Thanks HFB, I thought so, I have just brought and it’s not showing on here but on the other one
yes you are its the lower platform label AQSE
and on our other share looks like that PIB/movement etc might be a go soon lol
Hi guys, am I correct in assuming BOIL is the same as BOIL.GB.PL?
Some great research over the weekend.
I'm going to be increasing my stake today.
Let's get those placing shares flipped :)
thanks back at ya Shouston, until your post, spent most of last year when we where
expecting the seismic imminently posting on the President in power on his all
done by yesterday, had not been looking at the politics forums and the coalition
that sneaked in under my radar lol
Maybe this is also part of the sudden urgency to ramp up our holding in SG, perhaps
truth in the rumours the Timor NOC has recently been in talks with some high profile
The conference announced for the 25th ended up a two day affair 25/26th and that
coincidental placing/acquisition of more SG on the 24th (hmm)
With as previously posted SundaGas doing a lot of the event promotion along with CGG
SG a full on presentation about the Chuditch discovery and wider license potential (tick)
CGG on their own web itinery giving a briefing on the new super duper 2d seismic and
prospectivity of the area , which has to be last years TGS 2d with the 3d still to be added
All we need now is some progress news flow (boom)
only thorn might be the previous el loco president, as said in a few posts
he wanted all done local and a full up/downstream industry on Timor
If the current coalition does not hold we could be tossing a coin again
the fact he put the huge funds aside for the development of the East Coast
port/lng plant, brings forth another possibility
Could be good for us, that's some $16B WARCHEST, some of which could be now
diverted to fund their own NOC our SG partner Timor Gap to fast track their projects ?
ya know me Shouston
If I find it good or bad new, I post it
to me it's win win either way, if they do return to the previous governments plan
we have an easy sales path, if the current coalition revert to the preferred option
that Australia wanted, all refined and processed at the massive new LNG plant in
Darwin we still have an easy sales path to market LOL
HFB, your last post has sealed the deal for me.
I was concerned that by investing in their own gas and oil processing, this would delay and complicate things.
I can see that the government has tried hard over the years to fight for what is theirs!! And they got it!!
The gov have built up a $16 billion dollar sovereign fund located in the US. The Chinese have declined to fund the construction as uneconomical.
With the new coalition government in ET, it now seems that they are prepared to monitise the fields and not build their own gas infrastructure.
Thanks for the information.
So they're obviously very serious about developing thus vast resource. One way or another this will happen and we appear to hold the cards
East Timor is considering building a liquefied natural gas (LNG) import terminal and converting oil-fired power plants to gas in an effort to slash energy supply costs and cut greenhouse gas emissions. The move seems slightly ironic given the country advocated developing an LNG export complex for much of the past decade.
the mouth watering potential figures are for e.g
The license only holds say just shells around 6 TCF = 1 Billion barrels of Oil Equivalent
(standard convert 1 TCF = 170mbo)
say we end up with just 15% that in itself 150mbo equivalent reserves to Boil, forget
$65 a barrel (out of the ground prices) reserves a usually done on a npv 10% plus
or minus regional risk assessment basis
e.g copl recently made an AQ in the USA for 31mbo reserves , the going rate for npv 10
/ regional rate was $7.50 a barrel making the AQ worth £167.5m in the ground value
so even at a rock bottom rating of poor reginal risk $2 our 15% / 150mboe is $300m
or £217m (MC £7m now) at current exchange rate
With zero factored in for Peru , UKCS and actual development progress on any or all
of the licenses
If all falls into place and in this sector it is always IF , we are a MEGA bagger in the
making ON ACTUAL PROGRESS , in this case just confirming what SHELL already
I never call SP it is a meaningless short term measure always go by achievable market
capital divided by fully diluted shares in issue = sp
Now all depends on progress , if we get taken out completely would be disappointed
with an offer of less than £100m that's only a fraction of the in the ground value of
almost 1 million boe (near 6 TCF gas 5.73) Shell had previously established with a
huge amount of further upside
If we stay the course to at least 1st development well and the volumes are as stated
by the company then expect that hundred to become hundreds of millions to buy
Was in a gas discovery offshore Tanzania/Mozambique our share was just part % of the
JV discovery , we appeared to be going nowhere 20-25p rangebound , when Shell came
in with an initial offer for our part of that asset, opening bid 75-80p as I remember
That started a bidding war , which was eventually won by the Thailand NOC at £1.25p
a share , which equated to a bid of £1.2 Billion
So as said the other day lets get this placing flushed and done so we can move on
hoping news not to far away on some interest/movement on the license and
expect current operator with less than 12% to be swallowed up by us finish the
RTO 100% of SG we tried 2-3 years ago (now own 85% of them already )
with no further dilution, news on new player in talks could quickly see us at a £50m
market cap, which is when the REAL II's and Funds get interested and if one of
them reveal themselves in a TR1 - WE EXPLODE
So first target the most recent Market capital High would be around 0.25p taking in to
account the dilutions since our last roar to kiss around 0.6p
(as said old sp's meaningless)
News on license progress should bag that (0.5p+) and if players come in for talks
bag again (1p) depending on who/what the new deal license structure is we
could bag , multi bag
or even mega bag
shell back as operator, we get a wedge of cash, free carry on 1st drill etc
Boil transformed , zero debt, millions on the balance sheet, fully funded U.F.N
As said now all the wait and see , as to how the story unfolds GLA
No they won't , you really need to do some research m8, there was has been no
activity for 20 years around Timor Leste as OZ was ripping them off
The whole thing ground to a halt that's why the likes of SHELL who owned our license
and others like US Giant Conoco Phillips LEFT
They resolved most issues recently , that is why now movement like Advance with
Buffalo oil field re development (old field)
One of the biggest problems that remains is the Australians do want Greater Sunrise
massive Gas field just to the North East of us and the other bigger plays to go to
Woodfields/Woodfords? new LNG plants and refinery at Darwin
The Government of Timor Leste DO NOT
they want it all to their own new building LNG plants and refinery on the East Coast of the
Island and Oil to the being upgraded refinery on the central South Coast
The President wants an end to end mass local employment up/down stream Oil and Gas
Industry based on TL production and all the way to the petrol pump and new Gas fired
Power stations on the Island , to remove current expensive imports that will be required
until Greater Sunrise and others take up the import capacity
Let’s put that rig in the ground and then you will see the share price rocket ....... Australia will buy all the gas .
Boil is the 1!. I don’t think we can make a greater profit on any other share , all depends if you’ve got the balls to hold .
It’s a huge potential and share ..
whats your target here for sell out hoping for bags
oops first one should have been timor leste chuditch lol
Save yourself some time the website and RN-Announcement messages passed over the
rn-service news wire the past 6 months should more than cover all you need and this
board, the past week
and google Timor Leste , TGS seismic , Timor Leste News
They will give all the rest regional stuff and Government plans etc etc
Appreciate the info HFB, the picture’s coming together now, thank you. Ploughing through the last 24 months RNS to see all the disclosures.
Not quite a little more complicated unless we actually RTO SundaGas
Chuditch license Sundagas 75% Local NOC 25%
With the current deal announced 24th March, we are increasing our equity ownership of
SungaGas from 33% to 85% and hence our indirect interest in the license 25% to 63.?%
so in efffect Boil 63.? % NOC 25% SG 11.? %
This is why as the current Operator SG will be replaced or taken out, not by us we are like
them an investment in oil and gas assets company, we tired to RTO 100% of SG 2-3 Years
ago, so that bit might still happen
Expecting the original owners (shell) of the license or similar to step in and take both
majority stake and operator status for field development best outcome probably
50% - New Operator
25% - Boil
25% - NOC
The only reason Shell departed after establishing 5.73 TCF = 974 MBOE Drilling a discovery
well and spending many million on the license was lack of movement in the area as a whold
impasse between Timor Leste and Australia over who owns what and TL being financially
ripped off etc
They know what's sitting their so may return to take back their old stomping ground
so its now all wait and see what develops
@shouston, many thanks, I’ll dig out that RNS
We now have 64 % of the WI if the field. Gov have 25% and sandagas have the rest..
Hello. Read RNS 24th March.
All you seek is there. 4 min read.
Morning everyone, asking for a small bit of help please. I’m doing a bit of due dil on BOIL as considering a stake. I’m new to BOIL and have been going through the website and the presentation etc. I understand BOIL has a 25% indirect interest in the Chuditch PSC, but on the overview presentation it explains that “SundaGas is operator with 75% WI, partner TIMOR GAP has 25%”. I’m obvs not seeing wood for trees yet, could someone explain to me how BOIL’s ‘indirect’ interest works, given the 75/25 split between SundaGas and the other partner?