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Very adept gif.
TR 1 please.
Yes HFB, If all goes as expected moving forward then the MCAP could be in the 500mill-1bill + range in a very short space of time, that's why I'm here, BOIL holding the only known discovery like you say puts them and by extension us the shareholders in an amazing position going forward!
lol forgot the link lol , come the day and
https://media1.giphy.com/media/hvGKQL8lasDvIlWRBC/giphy.gif
That is the hope JR posted some sections of the budget for 2021 released this month
and sounds pretty much like all is a go and Tasi finally kicked into touch, not much
point in having exploration, discovery and production if the facilities DO NOT EXIST
TR1's yes would be nice to see a name or two but as always say do not hold your
breath for a timely one, FCA fcuked that up in 2018
area moving, other operators planning, new bid round in progress, all the pieces coming
together but more importantly , we hold the only known DISCOVERY inside the old JPDA
area that has not been developed, held and mapped by Shell as big as Sunrise (£64BILL)
Come the day like the link below , nuke explosion and some of the bigger holders here
could wake up millionaires, if they sit on their hands and do nothing but wait
as we all know the hardest thing of all to do, when you see those zero's racking up in
the PF , the finger and the button collide lol
:))
So next news will likely be TR-1(s) or an official approach from an operator or a full buyout offer from an operator? and these bits of news could come literally any day now?
guess the syntax pick and click on that one failed miserably lol
:))
This was the last it may be the plan in 2015, the Maritime boundary now set and ratified , in 2019 it was announced
FID expected to be by the end of 2021, Woodside in 2002 originally stated its preferred option was FLNG to its own
being built currently refinery/LNG facilities, in more recent times has also promoted the idea of production via
Bayu Undan's in place pipeline to Darwin as a back fill when 2022 Bayu expected to be depleted
While the legal status of Greater Sunrise area is still unclear between Australia and Timor-Leste and preventing
any final investment decision (FID) of the companies, Timor Gap and Timor-Leste Government have decided to revive
Woodside first scenario to develop Sunrise and Troubadour gas and condensate fields through offshore plaftorm
export subsea pipeline and onshore LNG plant on the Timor-Leste south coast. In that perspective Timor-Leste would
finance the $800 million export pipeline and called for tender the pre-FEED of onshore LNG train with a capacity
of 5 million tons per year LNG. Timor-Leste allocated a 230 hectare site at Beaco which could accommodate four LNG
trains for a total capacity of 20 million t/y of LNG alternatively to Greater Sunrise FLNG solution.
If Beaco Tasi Mane now a dead duck, Chuditch like Sunrise no longer stranded and has options for production and
processing be that at Darwin or elsewhere, several Indonesian facilities nearby but given their invasion of
East Timor and occupation 1974- un peace force - 2002 2nd Independence , fist 1974 from Portugal, Indonesia
invaded 9 days later, probably not an on the card option lol
:))
The ref page is just our rna message from the 8th January figures now need adjusting
to reflect our increase from 25% of license to 63.75% x 2.55
Update on TL-SO-19-16 Production Sharing Contract (the "Chuditch PSC" or the "PSC"),
Timor-Leste
Baron Oil Plc (AIM:BOIL), the AIM-quoted oil and gas exploration company with
opportunities in SE Asia, Latin America and the UK, is pleased to provide shareholders with
the following update on the Chuditch PSC.
Key Points
Proposal presented to ANPM to allow project to progress
Includes request for minimum 12-month extension
Significant upgrade in estimated resources
Gross Mean GIIP: 4,703 BCF
Gross Mean Prospective Resources: 3,527 BCF
Mean Prospective Resources net to Baron interest: 882 BCF
( 882 x 2.55 now 2.249 TCF or 382mboe)
This was SG/Boil revised estimate for the immediate CH1 discovery area
not the fully mapped Shell details which where higher with much upside
think the guy has not done his research, shell left the area completely unable to monetise
and the only other ref found was a Norwegian company looking to take 100% of a US
Holding company mirza? that planned to produce from Chuditch via floating platform
in 2009 under the previous JPDA license designation, force majure area reassigned to
East Timor ownership vice Australia under the Maritime boundary that was eventually
ratified by both parties
So those must be the two that left ?
Busy mum, we have been enjoying this education for the last few weeks.
HFB 1st para p18.. why would they have taken that view at the time 20yrs ago? Appreciate the Chuditch resource estimation will be better understood with modern day technology,
yeah catch you then x
That is your homework assignment for the weekend completed
but really loving the sentiment and sarcasm in the annual budget ref Tasi Mane
that has been the bone of contention between Australia and East Timor for new
production for the last 20+ years
IF it's gone it's great news for us also
catch ya Monday mum
:))
HFB will you stop posting info, I am never going to catch up at this rate
PART 3 25th March Conference 42 international oil and gas attendees mentioned
page 20
In May 2020, the restructured government replaced the Minister for Petroleum and Mineral Resources,
the head of the National Petroleum and Minerals Authority (ANPM) and the head of the TimorGAP national
oil company. The new men have said that previous studies were biased and that a thorough review of
Tasi Mane’s costs, benefits, and risks will be done before proceeding further. In March 2021 ANPM
President Florentino Ferreira told an oil industry conference that Tasi Mane “is currently subject to
reassessment of its viabilities”
page 22 we are on a page of document references
Baron Oil (2021). Update on TL-SO-19-16 Production Sharing Contract. 8 January.
www.laohamutuk.org/Oil/Project/SO-19-16/BaronChuditch8Jan2021.pdf
http://www.laohamutuk.org/econ/ScheinerTLSurvey3May2021en.pdf
PART 2
Page 13
The red-and-white checked segments show the oil and gas revenues Timor-Leste has received each
year, which include royalties, profit oil taxes and corporate taxes. About 93% of this came from
the still-active Bayu-Undan offshore oil and gas field. Timor-Leste has already received 99% of the
revenue it is expected to receive from nearly-depleted Bayu-Undan, and the slight increase in 2023
is taxes on decommissioning that field.
Page 14
Figure 10 only look five years ahead. According to my estimates (Scheiner 2015), which were
recently confirmed by government scenarios (MoF 2020b, Book 1, Figure 2) and the World Bank
(World Bank 2020b, p. 36) the Petroleum Fund could be entirely empty within 10-15 years
Page 16
Map of all license area's Chuditch labelled
Page 17
List of current and potential oil and gas projects ding ding Chuditch on the list
page 19 LOVING THIS PAGE - SAY GOODBYE TO TASI MANE
Table 3 shows that the capital investment needed to build Tasi Mane will be around $19 billion
dollars – equal to the entire Petroleum Fund. This does not include operational costs or consider
financial returns, which require further study. However, government documents reveal only about
12% of the required investment, and nearly half of that is the money borrowed from the Petroleum
Fund to buy into the Sunrise joint venture. International media have reported that China will loan
Timor-Leste money to build Tasi Mane, but TimorGAP and other officials deny this. As of this writing,
no known investors have expressed interest in this project.Tasi Mane’s future economic benefits to
Timor-Leste are greatly exaggerated20 (ACIL 2016;TimorGAP 2020 p. 48). Nearly all of the billions of
dollars for construction will go to foreign companies.After operation begins,these facilities will
provide hardly any local jobs or subcontracts.According to Australian economist Brett Inder,investing
money in improved coffee production would employ six times as many workers and stimulate six times as
much GDP growth as the same amount invested in Tasi Mane
PART 1
page 8
Timor-Leste deposits its oil and gas revenues into a sovereign wealth fund – the Petroleum Fund (PF)
– which is invested overseas; withdrawals finance five-sixths of the annual state budget. The black
dashed line is the “Estimated Sustainable Income” (ESI), the amount of money which could be
withdrawn from the PF each year without depleting the Fund’ In December 2020, Timor-Leste enacted its
$1.9 billion state budget for 2021, the second-largest in the country’s history and the first one in
four years to be enacted on time
page 10
The five green-shaded slices in Figure 7 represent money withdrawn from the Petroleum Fund.The two
largest ones, the Estimated Sustainable Income (ESI) and the excess above ESI, will be withdrawn in
2021 (see below). The cash balance and carryover are money that mostly came from the PF in previous
years but was not spent; about 85% of the loans will be repaid with Petroleum Fund money.All together
the Petroleum Fund (PF) is expected to pay for 86% of 2021 budget appropriations.
page 11
Figure 8 shows that the PF gradually diversified its investment portfolio from U.S. government bonds
to other countries’ bonds, then to stocks, and, since 2019, into petroleum projects in Timor-Leste
page 12
Withdrawals from the Petroleum Fund are decided by Timorese officials, but the amount of its
income is not within their control. Although the Timorese people have achieved victories that
international “experts” said were impossible, including national independence and the Timor Sea
maritime boundary, no amount of determination, struggle or strategizing will be able to create new
oil and gas reserves
The authorities consider the $650 million loan from the PF to TimorGAP for Greater Sunrise
(discussed below) as an investment,not a withdrawal.Therefore, its principal and accrued interest
remain part of the PF balance.
http://www.laohamutuk.org/econ/ScheinerTLSurvey3May2021en.pdf
The Timor Leste 2021 Budget released this month
Looking good
its 26 pages long but 3 pages of clips to follow