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Agree, Wronin,
HFB post make me salivate proffusley.
More towels needed.
Enjoy rest of weekend
Love it when you talk like that HFB hahaha
History in November 2019 SundaGas who have been assisting the East Timor industry and
its Gov entities Timor Gap (noc)/ ANPM where awarded the Chuditch License, immediately
we where in talks for a 100% RTO of SungaGas (BOD's related - nepotism invite) we in a poor
market at the time could not raise the coin and instead just took 33% / 25% chud
We where quite happy to bimble along since the out of the blue the big raise on the 24th
March a day before the East Timor Oil and Gas conference 25th March, WHY now
The conference was attended by 42 International and 223 other companies , so would
hope as the 2 big presentations where by SundaGas on Chuditch discovery and the
available HIGH resolution seismic by CGG
The area has been on lock down for 40 years, the massive Sunrise field now to go into
production 47 years after discovery, Buffalo to be drilled and a new MOU for the area
just signed by Santos OZ and NYSE listed ENI
so would hope they are expecting a knock on the door, Shells development back in the
90's had Chuditch as big as Sunrise , they left with the politics and a Norwegian group
had it with plans for floating platform production, then the dispute over what belongs
to OZ and what Indonesia or East Timor
So we have the biggest known other resource in the area , an area that is now moving
after decades of turmoil , impasse and force majure
SundaGas was basically a couple of Industry professionals, who have strong ties in
the region one being related to our own Director, they have never had funds , so
we have been keeping the lights on as time rolled by, we now have 85% so would
not surprise if we take the remainder soon
Perhaps a shares and options sweetener deal to the SG directors one of whom recently
announced his impending retirement
The fact is with such a large Discovered and was to be in production, sitting waiting all
these years , now Australia happy and got its way , all production to go to Darwin, so
be pretty strange if we are not being looked at when their are bidders in for 18 new
Timor Leste licenses 7 onshore 11 offshore to be awarded later this year
Shell data Chuditch GIIP as bit as Sunrise recently valued at $50 Billion Gas and $14
Billion in Condensate - Why would they not look at Chuditch before a potential
new exploration license
As said the big move for Boil now is prove that asset is in motion, new operator
will do that, at the moment we are like GGP was years in my dog kennel , then
an operator came in to drill and develop, same assets and potential as was always
in place, now moving 0.05p tiny MC flew to kiss £1 Billion MC
Chuditch on a similar same asset change of circumstances will also accrue true
value
22 April 2020: Signature of Shareholder Agreement for SundaGas (Timor-Leste Sahul) Pte. Ltd. with Baron Oil. More
28 January 2020: Termination of Reverse Takeover of Baron Oil.
19 December 2019: TL-SO-19-16 PSC has been declared fully in effect following fulfillment of certain conditions precedent
14 November 2019: SundaGas agrees Reverse Takeover of Baron Oil Plc.
8 November 2019: SundaGas signs the TL-SO-19-16 PSC, offshore Democratic Republic of Timor-Leste. More
6 September 2018: SundaGas operates Telen PSC, Indonesia. See Assets for details
26 June 2018: SundaGas sponsors SEAPEX / PESGB conference on Asia Pacific E&P: More
6 October 2017: Andy Butler elected First VP of South East Asia Petroleum Exploration Society. More
22 April 2017: Andy Butler to feature in AIPN Farmout Discussion event. More
15 December 2016: Mr Paul Ebdale joins SundaGas as Executive Director. See 'Management and Team' for details
27 October 2016: Mr Nguyen Quoc Viet joins SundaGas as VP Vietnam. See 'Management and Team' for details
27 September 2016: SundaGas announces new Singapore head office location, from 1 October 2016. More
23 September 2016: SundaGas enters into New Venture alliance with London AIM listed Baron Oil plc. More
The Great Man, may I add is highly regarded, has done tremendous research, please follow suit
another quick thought is why would sundagas allow baron oil to take a larger stake when they could simply wait for a major to come along themselves if they hold the licence?
HFB, as a new investor here and seeing as you are the man who knows whats going on, can you clarify something for me please. Currently boil have acquired an increased stake (85%) in sundagas who have the chuditch licence (is this correct?). If so what have boil outlined as the next steps? If they are not a driller then surely they have only made the move here because drillers are already lined up/ looking at this. I understand its a great prospect but from what I'm reading it comes across like we are blindly waiting on a major to spring up and take it, surely not?