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Good word in that post Trade , AB Confident, something bedroom scruff presenter former ceo , never looked or inspired confidence in shareholders.
Right man, Right time, Right place, Right Deal , Right Winner coming.🤔
AB the real deal, asked for , prayers granted, eventually😉😂
As posted the other day, Shell rated Chuditch across the whole license , Boil only played with 1/3 to 1/2 , as probably going to be bigger than Sunrise, one fully explored , multiple additional leads , like its bandicoot, what the seismic dragged in the edge of on the re run and we labelled Quokka.
Sunrise was originally 3 big boys, Shell , Conoco and Woodside, that's the large project scale , our minnow sits holding 60% of currently.
AB's words reflect that scale, do not rule out anything at this stage, I find the very interesting comment fits with that thought, now the area opening back up , we could have a lot of options, top 3 being
JV with one or more senior players paying the bills, free ride drill/s + to x£m deal, common in the industry
JV with one or more , very large cash payment to boil, retain x% , pay our way
JV Partners (talking INPEX with Woodside level type deal) very large cash payment, retain only royalties x%
Others include, Bank's , AB has previously tapped , Singapore bank for $22m loan for a minnow, sector offtake funding, think at one point TotalEnergies and INPEX , Ichthys giant field, was something like 5-6 Japanese gas supply companies in for small % each originally. Like Osaka City is in Sunrise for 10%.
So indeed AB and his team will be very busy and not want to commit to early, if indeed , as should be the case now, a known unexplored prolific seaway , is back open for business, as posted before, imo the people he often rubs shoulders with , in his role as a VP of Seapex, AB could stun many , with the level of announcement of the final deal.
Contacts galore and options, options ,options 👍
Said for a long time, AB a whole different mind set and level , to those now gone and well forgotten, on the earlier post Jarv , myself and others, have discussed the future and fully expect AB once the dust settles , to change company name and MO, his "we are now a focused Asia GAS company" , was a big clue, those gone had ZERO interest in production. AB , Colin and the rest of the Sundagas team (high profile sector background)
Fully expect the change , perhaps not until the full plan laid out after CH2 drilled (as per the rna options/talks with tl)
Likewise the new AB bod appointment/s , should give a strong hint, Gas co , or remain investment co, imo its Gas co. 🤔
Miker44 - agree, for me tho it's the "very interesting discussions with funding partners INTERESTED IN PARTICIPATING IN THE PROJECT" indicates a shift from just pitching to actual getting down to finalising it with entities who want to participate.
Also the fact he was so clinical in his Director Talk interview about Drill Funding being at the project level with no equity component at the PLC level at all. To go on record was bold, you only do that if are close to concluding negotiations and you know you have something.
"Interviewer: Now, I understand that you’re seeking an additional funding partner for the project, are you happy with the way discussions with potential partners are progressing, and is it true to say that the focus is on funding at the project level rather than through the issue of additional equity in the company?
Butler: Well that’s correct, yes, we are very interested to bring in additional partners to participate in the project, to bring additional funding, and a number of discussions going on. Those discussions are in an interesting phase, I obviously can’t say too much in terms of the detail but that’s the situation at the moment and I’m very confident around it.
Am I happy? Yes, I am, I will obviously be truly happy once we’ve concluded some of those discussions, but we are most definitely making good progress at the present time.
With respect to bringing additional equity funds into the group at the corporate level, the plc level, to pay for the funding of the well, I can say unequivocally that that is not the intention and what we are looking to do is bring in funding at the asset level.
So, there isn’t a plan to bring in additional equity money anytime soon, it’s definitely project level investments that we’re looking at."
Yesterdays interview with Butler from 4mins 11 secs:
https://youtu.be/Q7ht8YhV7vs?si=uNjavPzqX2k4Sy6E
"...we are preparing tenders with respect to long lead items and we have conversations ongoing with rig owners with respect to being able to deploy the rig...
...so on a technical level on a commercial level on a regulatory level we are making good progress we are definitely on track...
...with respect to that drilling planning we are working on that we're working on the environmental approvals that go along with it, we are still working on and having some very interesting discussions with funding partners interested in participating in this project and so yes absolutely they'll be quite a lot of additional news..."
From 40mins 20 secs - Butler discusses route to markets for Chuditch, not contingent on Sunrise at all.
https://www.youtube.com/live/PpW7FJfHxGk?si=2HExcOKuu3EjyuFy
All good. Butler been clear route to markets exist, JV & Rig Contract is anticipated this quarter per Feb 15th RNS. Lets stick to company comms.
Timor Gap and another Island company also got contracts for a nice wedge of the platform being dismantled and rebuilt for its new purpose, although ENI statement suggest they won't be needed yet as it does not have (currently) enough capacity for all the Darwin wastes. As said that could be a boost for us, as Chuditch has been spoken of as also hosting carbon capture, another potential bow to AB's negotiations strings. 🤔
later gator..........
Bayu still owned by the old consortium headed by Australia's Santos, TL bought in for a % age
The Bayu-Undan Carbon Capture and Storage (CCS) Project targets the capture of up to 10 Mtpa of CO2 at a Darwin hub - initially from the Darwin LNG facility (DLNG), with potential future expansion to proximal 3rd party. Captured CO2 will be transported to, and stored in, the offshore Bayu-Undan reservoir (in Timor Leste waters).
The Project will require additions and modifications to the DLNG facility, which is proposed as the foundation for a CO2 processing hub, as well as the repurposing of the Bayu-Undan to Darwin Gas Export Pipeline (GEP), the offshore processing facility and the facility wells for reinjection of the processed CO2. Santos is working closely with the Timor-Leste Government towards the necessary agreements and regulatory framework that will be required for the Bayu-Undan CCS Project. A required Australian Industry Participation (AIP) Plan is also in place for the Project and the summary is available at www.industry.gov.au Santos has partnered with the Industry Capability Network NT to assist with Australian vendor identification and raise awareness of the project. To register a general expression of interest please submit in the work packages tab.
Bayu probably not a route for us for Carbon Capture the Santos (Barossa) and ENI (Evans Shoal) long been talked about by the pair as first and co mingled production down the new Barossa - Darwin HUB, to their own currently idle refinery owned by the pair and SK Korea.
ENI only a few days ago announced , rethinking the Evan Shoal plan as Bayu would have to increase its annual take by over another 2.5 million tons per annum, to cater for both fields. And they should have first dibs, its that consortium that owns both Barossa - Darwin and converted Darwin to Bayu wastes pipelines.
No biggie as Boil have spoken of the possibility of part of Chuditch being made a Carbon storage site, we could feed ourselves 😉 and take others wastes, as it appears Bayu overbooked already.
Darwin to Bayu could feed Ichthyus wastes from the left , Betaloo basin from the middle and Barossa+ from the right hand sides of the complex. Leaves a lot of scope for another storage site in TL waters 🤔
Bayu Undan was an Australian license under the JPDA and the owners where Conoco Phillips who built the pipeline to Darwin and until very recently still RENTED it to the current ENI/Santos and SK Korea, now in the middle of being dismantled and converted to a Carbon/Waste storage platform, the old pipe wastes from Darwin and on the platform connections for others and maritime unloading. TL invested in becoming part of the new storage facility , the only thing they had of Bayu was taxation and fees. The refinery belonged to others , passed on and the JV finally took all of it and the Koreans got a 20-25% share of it about 2 years ago.
Conoco, Phillips Petroleum as was originally at Bayu, also proved the concept of going to the Island in the 90's , coming up with an innovative SUSPENSION BRIDGE pipeline across the 2500-3500m deep Timor Trench, said they had 3 ways of doing it but that was the best , suspended below shipping and held by wires and concrete blocks (support diving team required) Phillips shareholders voted NO, on the grounds of high risk and after care costs, not to mention the pipeline would cost 3-4 times that of the one eventually built to Darwin route all shallow waters. 😉
The only other thing that proceeded to development under the JPDA force majure etc was ENI/jv Kitan Oil field , added to TL coffers 2008-2015, everything else froze, TL had zero equity interest in anything back then just territorial rights.
Likewise Timor Gap and ANPM did not exist, AB and his Sundagas team helped develop those and trained the Timorese and still do to this day, Colin Murray principally in recent times but you will still find old articles in TL press with AB in the picture of the events, he had just done a presentation, or some training at.
Sundagas arrived on the Island in 2016 , rewarded with the (zero cost) NON TENDER award of Chuditch for their services and as the showcase for the TL new 18 licenses Bid round.
Back then TL as said had no NOC and no equity in anything, only got into that recently with the introduction of their own Industry 2019 after the borders settled by the international maritime agreement, Timor Sea , Indonesia ,TL and Australia.
Then also gave a $650m loan (on the books to be repaid from first revenues) from the Island wealth fund to Timor Gap to pay off , long time wanting to leave Shell and Conoco 56% of Sunrise.
Prior to that they held zero equity , just the right to say yes/or no to permits and production plans, which then was always NO , as their plan has always been Tasi Mane ALL comes to the Island. Chuditch was also an Australian license back then, hence the leads names , Chuditch , Wombat , Bilby (now chud N an SW) and Bandicoot (what boil picked up on the limited area seismic 2013 Kyranis re run and now call Quokka) shell had more of such leads to the south and south west, they thought all those additional leads Oil OR More gas over LARGE condensate fields.
Anything else you need to kn
Bayu Undan belongs to Timor Leste and was developed and delivered $billions, being further developed (over 70% complete) as a ccs now and will be ready to go in 2025
Listen to Butlers interview towards the end yesterday "funding partners interested to participate in this project and so absolutely they'll be quite a lot of additional news..." we are on the cusp and its due to complete this quarter per RNS.
Evans and Barossa NOT in TL Waters, so they can do what they want, now ban by the courts overturned and pipeline HUB from Barossa nearing completion to Darwin., ENI and Santos planned to drain both through the new pipe and carbon storage via the old converted to waste Darwin Bayu , Bayu no longer a producer. Main reservoir drained a couple of years ago, 3 wells on offset reserves, extended life into late 2023. 😉
We are on track per Butlers interview yesterday, Chuditch JV is expected this quarter. Multiple projects exist with partnerships already made so absolutely Chuditch is happening now
Bayu Undan partners - Santos 43.4%, SK E&S with 25%, Inpex on 11.4%, Eni holding 11%, Japan's Jera with 6.1% and Tokyo Gas on 3.1%
Barossa partners - Santos 50%, SK E&S (37.5%) and JERA (12.5%)
Evans Shoal partners - Eni 65%, Petronas (25%) and Osaka Gas (10%)
Greater Sunrise partners - TIMOR GAP 56.56%, Woodside (33.44%) and Osaka Gas (10%)
Nice bit of consolidation today. Volume will ebb and flow. We can't expect an up day every day thats not how markets work. We've traded over 25bn shares since the raise, that is the entire market cap of the company. More importantly we've broken out of a two month range where we were held by the overhang which is greatly diminished if not entirely gone. There are no large placing sells now, the book looks free to move up. As i've said repeatedly it pays hugely to accumulate a big position at these levels. We will be heading into double figures in the coming sessions. Don't look a gift horse in the mouth.
md
probably spot on with that, mr market still not a believer , area sorted moving on and our gas worth a mint, it's why i have long hoped and wished for , tl to publicly back us and our plan, note the tone in the rna extract from earlier, nothing decided on how to proceed after the drill and analysis alongside consultation with the tl parties.
said before they have used us in other studies, while we have talked fpso, ab now matching that with that line in the recent rna, nothing is certain until tl say it is, as far as , permits for monetisation plans.
as also said many times, still hoping they make that statement, yes you can fpso and bring it to the island in 2025/26 for metinaro gas/lng imports facilities for the 3 power stations and domestic security, well before the other project sees the light of day (tenders 2030/31)
likewise they showcased chuditch , not sunrise for the bid round, another dog and pony showcase , for us and their northern project would not come amiss.
that china mou with tl p&i , now also comes into play, will funding for that be part of horta's upcoming visit and deal signature/s, seen the same in other countries and several times in ****stan, minister visit with team , followed by xi and the pres/pm of the country , having a big public signing and photo op, with an obligatory horta speech thrown in , singing his good friend xi and china's praises. 🤔
When Ramos Horta heads to China is the time we will find out what Cash is inbound, that is the only news that will move this on.We will then have an idea what ports and terminal structures will be in place.Only then will bigger players will show their hand
MD
Disappointing its only taken 2 sessions for the volume to fall back off a cliff
Late comers ? otherwise not good aim 223m and aqse 8m, no volumes and not in the fun zone, lesser spotted FOMOF tomorrow it is then 😉😂🤣😂
On that list , chalk off BHP as Woodside took them out about a year ago, also tried to absorb Santos more recently, talks ended last Month? . Woodside flexing their profits from recent years, also did the U ee on TL processing, MOU with Japan Bank/INPEX so could be we are also in their view. 🤔
Tbh next news is the Rig Contract & JV now. Board appointment to but with the Technical Site Survey all done it is almost game time
Think you set him straight before Meadow, think was the one looking for other links a week or two ago, as did not believe me about some and aqse stats, as posted from this site and its link BOIL.GB.PL , turned out someone else had to provide aqse web details , as mine out of date, been a complete aqse website change and my old front page easy entry no longer existed. Eye off the ball😂🤣😂
Trading Tuesday 1400m , Wednesday 400m
Thursday tailing off to old levels aimx 220m and aqse 8m
Friday FOMOF , or back to waiting for news snooze fest😲🙄
IFIK- This is Baron Oil you need more patience[patients] than Barts
Trade back to your earlier post, that is the long hope , TL has had and said so many times, want the Major's back , those with deep pockets that can fast track FFD , said so in all the conferences , since they kicked off their own industry 2019
Even named us , advance and carnarthen (oz listed) , as not what they want more of, they want the big boys back.
So your earlier post , on the money, huge license, demands the big players Major/Tier1 for the long term FFD, for our Chuditch and the equally idle Kelp (also 1998 Mobil 10.5-14 tcf they gave it) reference material only quotes Mobil but presume that was Exxon Mobil, likewise a lot of the old stuff quotes Phillips Petroleum, which became Conoco Phillips
Area was littered with them, then it all ground to a halt, prior to that, in the TL area of the Timor Sea under the JPDA
Joint Petroleum Disputed Area, you had
Shell , Mobil , Phillips, BHP , Nexen , Woodside , Inpex , ENI ,Santos and a host of other less Major players.
Its opening up and they all know what is on offer 😲🤑🤑🤑🤑
The problem with most of the newbies on this board is that they buy in followed by idiotic ramps and think the share price will automatically go up in a straight line for an instant profit. Unfortunately it doesn't work like that .