Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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You could be right actually, so long ago and the original articles I posted 3-4 years ago ,now seem to have disappeared into the ether, perhaps getting Mitra and its Sundagas overlapped with Minza and Shell departure.
Exceptionally old head and even I have the occasional brain fart 😂🤣😂 do remember who ever it was proposed FLNG with a Norwegian partner that was from 2009/10 one of the mags, Energyvoice , Offshore mag, one of the Industry mainstream publications. 😉🙄
agree md, the outgoing bod focus was asset investment never going to production and revenues etc, now a set of oil and gas experts in control (expecting ab to add more of his ex mitra , sundagas team) that focus could now transform to an oil and gas company , with a focus on asian assets, through all phases, not just what has been early invest and sell on.
ab and his team, have a lot of issues to correct before that can become a reality, so do not expect any early changes on that score, focus now firmly on chuditch until at least q1 2025.
question now is will they be looking to sell only , not jv dunrobin, to fund future operations and that change of direction
from early stage investments, to an asian all stage, oil and gas company?🤔
only thing for certain, things should start perking up , on the back of ab's appointment, as posted before, when brought sundagas to the singapore market , was straight in with a 22m singapore bank loan as part of the ipo, not layer after layer of poorly , dropping price confetti , small snail paced raises and development ,like the not remotely missed departing directors.
on success and progress, placings a good thing and should easily be done, at a rising price, all numbnuts ever managed was announcing success and progress hand in hand with another ***** slap and bend over to lth's
the epitome of poor management and lazy cfo , with bucket shop confetti wonga's on speed dial. 🙄
Did Mitra previously have the licence? I though Minza Oil & Gas previously had it (and had a deal with Flex LNG that fell through?)
VT,I would not be surprised if the exit of AY may bring about a change in Boil’s policy of get it sold as soon as possible.I wonder if Andy Butler may have different ideas.Obviously after meeting AY,Horta thought what a waste of space the ceo was and suggested he should go.I don’t expect any share price movement yet,but I think we may have some surprises in the future
MD
$180,000 a day, according to the Valaris site.
Apologies if already posted.
Investment company Boil, badly funded others doing all the physical and development work (Sundagas/others) now the guys doing that work in charge of their own destiny, why look beyond his own current, very experienced team, who will be basically doing all the operational side as planned.🤔
Jarv
AB only recently added to the bod , now CEO, so really its two out and AB +1 to come in for the mo, would not back against it being Colin Murray , the other man always in the news with Training TL personnel and like AB also an active member of Seapex and its associated organisations.
The main guys at Sundagas mostly came from Mitra, broke free to set up Sundagas themselves, rewarded for work with the Island from 2016, with the Nov 2019 Non tender award under the new TL License (prev oz). Mitra had previously gained the license from Shell under the OZ license, before all fell silent 2010-2019 award.
Now the focus is all on Chuditch, do not think he will have far to look for his new SG/Boil BOD's 🤔
Bump for Tradedesk. Hope everyone is well. I'll get back in the kitchen now lol.
A very good researcher on this board
Who's Kylie?
I think Kylie alluded to this. Might be a sign of joint venture preparations. Timor Gap vacancy.
Vacancy Announcement March 2024
1. National Legal Advisor – One Position
Main Responsibilities: He/she is required to assist and support TIMOR GAP subsidiaries in negotiating commercial agreements and JOAs with potential partners
2. International Legal Advisor – One Position
Main Responsibilities: Provide expert legal advice and guidance to the company, draft and review all types of agreements, including MOUs, Farm-Up agreements, joint-operating agreements (JOAs) and production sharing contracts (PSCs). The international legal advisor is required to provide legal support to TIMOR GAP subsidiaries in the PSC application process and PSC negotiations with the ANP and relevant Ministries.
https://www.timorgap.com/vacancy-announcement-march-2024/
Barging-seeker
So much to come!!!
Lol
I think you so much for you to learn!!!😂
Site survey results should any day now, the rig contract will be on the heels of that. Of course new bod appointments expected to, maybe an announcement on that this week.
Tradedesk I am expecting the survey announcement first. The the appoint ment of the new bod members.
Lol
Very big move expected massive churn complete now
We have the deposit to lock in the rig following the placing on 15th February "These funds are expected to be applied principally towards a rig deposit, the drilling project team, a site survey, certain long lead items and a bank guarantee"
Keep an eye for an announcement any moment on a rig contract.
Key anticipated milestones
The Board anticipates the following key milestones for the Chuditch project in 2024:
· Site survey at the proposed Chuditch-2 appraisal well location in the first quarter of 2024
· Completion of drill funding and securing a rig slot in the second quarter of 2024
· Obtaining the required environmental and drilling approvals in the third quarter of 2024
· Well mobilisation, well spud and drilling results in the fourth quarter of 2024
Baron is preparing for operations to drill and flow test the Chuditch-2 appraisal well in late 2024, subject to the availability of a rig, drilling services and the completion of drill finance. In this respect, discussions are underway to secure a rig slot and on 12 February 2024 the Company announced that it had entered into contracts to conduct a site survey at the planned drilling location for the Chuditch-2 appraisal well. Contract Year 3 of the PSC, which commences on 19 June 2024, includes a commitment to drill an appraisal well by 18 June 2025.
The Chuditch-2 appraisal well location represents a significant updip step-out, which is 4.8km from the Chuditch-1 discovery well drilled by Shell in 1998.
Baron's key objectives from the Chuditch-2 appraisal well include:
· prognosing a potential 133 metre gas column, versus a 30 metre column at the original Chuditch-1 location
· validating gas resource estimates
· performing a production flow test (drill stem test) to enable future field development planning
Advanced well planning in relation to the Chuditch-2 appraisal well is underway. Baron is also evaluating potential gas development and export options.
Baron's current activities in relation to advancing the Chuditch project include:
· Discussions with rig owners
· Identifying potential logistical synergies with regional operators
· Progressing the environmental approvals process
· Preparing to conduct a site survey at the proposed Chuditch-2 appraisal well location
· Commencing the procurement process for long lead items
· Updating of the well design and costs
· Recruiting for key posts, including Well Operations, Health, Safety and Environmental and Procurement
· Ongoing discussions with Farm-Out and other potential funding partners, as part of the Farm-Out campaign
Yes but I think some one mentioned on here we have to have funding in situ to guarantee the slot ? So in principal it seems like we are pencilled in subject to funding ?
Is the way I am understanding it ?
I added 2 mil today avg down somewhat and believ me onwards and upwards or pot simmering now
GLA
Lots of potential drivers , long before the end of the year
Sunrise agreement - path to market to be built, opening up the value of gas to the Industry in TL Timor Sea waters.
Metinaro FID listed as by end of 2023 , or IN Q1 2024 (now)
Boil secure drill funding and confirm Dec slot.
Boil secure JV with a serious player (free carry 1-2 drill for x% of Chuditch)
Boil kicked out by a Major , for serious compensation (56% of Sun 5 tcf was $650m 2019)
even
Dunrobin JV or SOLD
Boil he’s drilling in the end of this year🤞
Does not work like that , to secure a FIRM rig slot, funding has to be in place long before that window arrives, or you lose the slot , to someone who can pay.
Now every fibre of AB's contacts and background, need to come to bear fruit, on that FINANCIAL certainty. GLA 🤔
Been in a few that have lost slots, one multiple times.🙄
Usually the share price goes down and attract more investors because of the low mkt And then MM will go even lower make some Weak investors panic and sell
Christoff
reading (or hoping) between the lines, that has been given (under NDA) Mitra planned to FLNG Chuditch when they took it from Shell under the Australian license, Andy and 3 others (think 3 of 4 from Mitra backgrounds) Formed Sundagas and arrived at the Island in 2016 training and developing TL's industry as they do to this day.
At no time in the past has Timor Gap shown any interest in assisting us, barely rated a mention in annual reports etc, now we have them , upping their stake from 25% FREE CARRY to 40% with a commitment to fund going forward, that initial move a saving of 8m over the next year, including a 1m cash refund.
Why do this now, if not going to support Andy and his teams FPSO plan
IMO, its still Chuditch, that is front and centre for their Metinaro and Domestic switch and supply to Gas/LNG by 2025/26
long before Sunrise/Beaco operational (last tenders by 2030/31)
It suited them on the grounds of revenues not to block Conoco from piping Bayu to Darwin , Island majority source of revenues 2005-2023. All developed and built under the OZ license pipeline and refinery in place.
It has to suit them to use their own gas, with a mates rates offtake with their own Gov NOC Timor Gap, rather than pay more for Imports from elsewhere🤔
Would just be more comforting to all, to come out and say say, give us that other option GREEN LIGHT, it would also seriously boost our position for JV/Sale partners.🤗🤩