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Rampers arrive after the horse have bolted rarely before so a bit of calm is not always bad.
All our rampers went over to KOD and 2 days later it's been falling so personally like to see a slower steady rise with no rampers (and usually no derampers)
Pity the rampers have gone I always felt more enthusiastic when people were suggesting peaky openings
Hopefully we will have a good week this week. We were pretty close to hitting 0.1p Friday.
My dear fellow
It's not the blue smartie I crave, it's the blue skies,
We are standing on a foundation that governments will shake hands on then company's will fight over. What's in the treasure chest is a bunch of keys, one of which belongs to Baron Oil, extremely good assets...
For decades it was darkness, the situation is becoming brighter by the day
Benny, I also see blue.
I see slowmo towards the blue touch paper underneath....
When that clicks, you are too late for the ride.
Absorb the facts, all of them.
I've had a few smarties, saving the blue one for tomorrow!
In July 2020 a new president of the local NOC , Timor Gap was appointed to take the industry and license
bid round promotion forwards , got some nifty background
António José Loiola de Sousa, 49, is an engineer specialised in reservoirs and geomechanics and in oil sector management and business, with a Bachelor’s in mechanical engineering, with a specialisation in rock engineering, completed at the Institute of Technology in Bandung, Indonesia. He also has a Master’s in petroleum engineering, which he completed at the Norwegian University of Science and Technology. In addition to several years of experience at Timor Gap he has worked in the North Sea, at Premier Oil in Scotland, and at France’s Schlumberger Regional Exploration and Production Centre, and at Malaysian oil company Petronas.
does not take any real looking, if you look at the original Kyranis 3d psTm Chuditch is labelled
and the line up and down from it the same orientation and shape as the line of reservoirs
mapped by shell running down the southern edge of the license
As said those with blinkers on myopic with boil, this is all about a region gridlocked and
going nowhere as TL wanted all onshore TL , Australia did not, time dragged on and
TL adamant they would build, they have not, now decided 16-20 Billion can be better
spent on the Islands needs than a new refinery complex , that currently if ever built
would only have Sunrise as a certainty to be processed
Its about the REGION moving on and the production now having somewhere to go
there was little point in developing Chuditch if it was just going to wait decades for
the Tasi Mane facilities to be built
but its all about others and not Boil/SG , they like us will be well rewarded
when the real players arrive to develop a previously STRANDED ASSET
with no home to go to, now like Sunrise it has one on development DARWIN
Done a lot of research the past few weeks. Research of my own and from those on this page.
Come to the conclusion the same as HFB. Announcement of JV / Farm in partner will be the catalyst for this to ROCKET!! :)
Get in while you can! Any news on 3D data identifying locations to drill should also give us a good boost!
I do believe people as well as the animals are taking notice!
HFB, you can lead the horse to water, and all that..
I look forward to the next few weeks.
RNS are due then. If not before....
On current prospects, Timor GAP looks unable to meet its repayments from 2027. And Gusmão has been unable to find the finance for the Tasi Mane scheme, even reportedly from China. Woodside refuses to support the plan and would clearly prefer the option of connecting Greater Sunrise across a relatively shallow and even seabed to the existing pipeline to Darwin’s liquefied natural gas (LNG) plant. Industry sources estimate this would cost between $US200 million and $US400 million. If this option were chosen, the conciliation documents from The Hague show that Woodside and the Australian government would be ready to pay more than $US250 million in spinoffs for Timor-Leste, including the financing of a smaller pipeline for domestic gas consumption, use of Timorese supply bases, a technical training college, and jobs for Timorese both on the field and in Darwin. This was aimed at assuaging Timor-Leste’s concerns that the country would miss out on highly skilled jobs and economic activity. Woodside is also looking at a third, intermediate option – extracting the estimated 226 million barrels of petroleum liquids and loading these onto tankers, with the dry gas pumped back into the reserves for future tapping. This would cost about $US1.5 billion to develop and earn about $US7 billion over several years, according to an industry expert
Hamish McDonald – The Saturday Paper – October 2020
For the past decade, Gusmão’s vision of an industrial future for Timor-Leste has been state policy: a plan to develop the Greater Sunrise offshore gas field reclaimed from Australia, with pipelines laid to bring gas ashore and refineries built along the coast facing the Tasi Mane, or Timor Sea. Yet over the past four months, this pipedream has been dissipating as new eyes in Dili take a closer look at longstanding doubts about the technical and economic rationale of this strategy. This may have happened anyway, but the coronavirus-induced plunge in petroleum demand and prices has sharpened the criticism. A political reshuffle sent Gusmão into opposition and detached him from his long-time role as chief Timor Sea negotiator. Now a new petroleum minister, Vítor da Conceição Soares, is saying that data supporting the Greater Sunrise plan was tailored to fit the ambition: “The cart has been put before the horse.”
In April 2019, Gusmão, frustrated by the refusal of the Greater Sunrise consortium, led by Australia’s
Woodside Petroleum, to buy into his refinery scheme along the Timor coast, got the Dili government
to acquire a majority stake in the consortium, buying out Shell and ConocoPhillips for $US650
million. This gave Timor-Leste a 56.6 per cent share, with Woodside retaining 33.4 per cent and
Japan’s Osaka Gas 10 per cent.
The money came from Timor-Leste’s Petroleum Fund, the sovereign wealth fund established in the mid-2000s after independence was finally wrested from Indonesia. Gusmão’s demand for an outright purchase of the Greater Sunrise shares was rejected by TimorLeste’s president, Francisco “Lú-Olo” Guterres. The government eventually agreed that the tiny state
oil company, Timor GAP, could borrow the $US650 million from the Petroleum Fund to buy out Shell and ConocoPhillips.
For Timor-Leste, the funds that can be generated from Greater Sunrise remain vital for lifting its people out of poverty.
The gas at Sunrise has been waiting 47 years for a home to send its gas
it now has one Darwin
Chuditch will now also be developed as it to now has a home to go to
THAT's what has changed, now all we need is an operator to move in
and if Woodside ,our 800 sq km 3d will turn into the whole 3,500 sq km
done in a few hours, like they did the 3.200 sq km of sunrise in December
3d has already been done you halfwit the kyranis 3d 2012 now being snail paced by us
is the same kyranis 3d 2012 data being re run
The only thing that it will change is it will show prettier pictures psDm over the previous
psTm processing Chuditch was on the original as it is on many old and new 2d's
IT BEEN DEVELOPED , ITS BEEN DRILLED and in 2009 the company that had it was planning
What has changed is the GAS now has a home to go to and the price of Oil like most of your
2 rubbed together comments has nothing to do with Gas and Gas processing
2002-2020 Timor Leste we are going to build our own Refinery at Tasi Mane NOW SCRAPPED
Australia and Woodside have now got what they wanted in 2002 IT GOES TO DARWIN
So listed carefully as I will say this only once Ethel
pre the 2020 decision to forget about spending 16-20 billion on their own not even broken
ground refineries, what was the point in doing any expensive development on a license that
would have years to wait for the Tasi Mane facility TO BE BUILT before you could send it
Now it can go straight to Darwin OR Indonesia if they choose but given the invasion history
not so much , DARWIN it is then
Lots and lots and lots of words, best intentions but leading to....... love the info which i do read but .... eur mk2 jam tomorrow?
Bd, in 2018 the situation was volatile.
Only recently have the pieces of the puzzle, been allowed on the same board.
I am happy with the current data and geopolitics...
I’m staggered that BD continues his battle to drag BOIL down, he’s spending far too much time & energy on us whilst spouting rampy nonsense on UKOG. Seriously, everyone can see what you’re up to fella.
If you don’t believe in BOIL, no worries we’ve heard it... it’s not your problem you’re not invested. Concentrate on those that you are ... just an idea
Benny tht is true, and it doesn’t stop with oil exploration/production companies. Large fund managers who often play a role in the funding of many of these investments also want their carbon footprint cleansed. So much so they will happily remove all ties with any of these companies. Unfortunately and there’s no getting around this matter, we still need these resources in our lives and will do for some time! There is still and always will be intrinsic value to such assets. Those saying the landscapes changed are quite frankly kidding them selfs.
I believe you are right Benny, and I am pretty sure he will tipping out his, "Troll fee's tin", to get an early stake in on Monday.
Facts are facts...
All due respect we are all willing to listen to your points Bridge. However I don’t think you are grasping the fact a major could press a 3D seismic through at what ever rate they want. Shell have already proven that the site is monumental in its assets. Politics have changed drastically in TL. Need I go on.
So if there is no need to wait the stated 6 months plus for the 3d because a new operator will swoop in (I assume imminently) to pick up the project based on historic data why didn’t someone pick it up in 2018 when the oil price was over $70?
3d is required to get a better understanding of the prospect and for planning/financing to drill a well that will prove it up. That’s atleast a year away. I’m not disputing that it’s a good asset for a small explorer to have but Boil have been all over the world drilling different ‘transformational’ exploration wells and nothing has come of it. This is just another punt in a long line of failed projects. I understand that this doesn’t fit into many traders narrative of an imminent takeover but it’s the facts. This is a long term high risk investment not a short term get rich quick sure thing as many would have you believe.
Read all of the RNS and take care.
Cheers HFB & Shouston! :)
Every company that's producing oil wants to reduce their carbon footprint, they are exploring gas reserves.
Baron Oil is in the centre of that heart and all it's arteries are pipelines