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It’s surprising that Chuditch hasn’t been sold or fast tracked to sell gas on the open market to fund the islands progress.
I imagine until the 2 controllers of Timor leste actually make a positive decision to grow the countries prosperity, no major will want to invest. It's their rules albeit it effects the poorest people of that nation.
The potential for boil is massive but the market clearly sees too many hurdles at the moment hence the lack of movement.
We apparently have been in conversations with potential tie ups for a couple of years now but we have seen zero movement.
I was hoping AB being made CEO would change the parameters but clearly it hasn't at the moment. It does amaze me that some companies double their market cap on news the CEO has farted and it smells like roses. Hey ho.
Jelly, that post is way too negative. The TL government have made great strides to improve their economy. They are attracting international investment and raising living standards.
The market doesn’t give two hoots about the TL government or possible hurdles relating to Chuditch. They just want to take profits on any and every increase in the share price. The TL state oil company has invested in BOIL. ENI has invested next door to Chuditch. INPEX are committed to increasing their presence in the country and a deal will be struck with BOIL. Complex and difficult and lengthy though that is. There are not many hurdles left to clear. Patience is required and we will be rewarded.
Filthy-I do agree with Jelly on the delay in announcing the funding for the drill bearing in mind if you believe all the rns over the years of being in advanced talks with potential funding partners.The extra 15% that TG investment is significant, although at the time I though we let it go to cheap but if we need bank funding which could be the case they could be the guarantor.Hopefully we will hear before the drill or drop decision on the 18th June if it goes right to the wire It would concern me on the deal we get.
Deal is a long time coming. needs to be reflected in the asset scale the company/ ceo keep alluding to! carp deal won't go down well at all.
A fishy deal wouldn’t look good at all. I’m assuming previous talks failed and these are new negotiations. Off course there could be a reversal. If it was certain, this would be too easy an investment. AB describes the drill as if it’s a nailed on certainty. That suggests to me, a deal in principle has been agreed. It won’t be fantastic but hopefully good enough. The interviews given are very bullish. AB gives me real confidence in this all or nothing project
AB does seem very confident they will drill. He does also say in the interview in early April that they are “looking for” and “having interesting discussions with funding partners”.
So if they were still looking for and speaking to investors in early April. Perhaps no news is good news in this instance. The new bod have only had a few weeks in the job.
As meadow touched on, the bank loan and TG guarantee could be the reason why he’s confident they will drill regardless. Plan B?
He does also talk about them wanting people to “come on this journey with us” in another presentation.
For me the fact that TG have skin in the game is still the crucial piece of the puzzle. Surely that’s a huge positive for an investor or bank.
We need an announcement that a port/terminal is to be built and finance is arranged signed and sealed,only then will any majors or the market believe it’s a go.They will not take nods winks anymore.
The big to are just not trusted and sadly that is where we are at.
MD
Manual, the oil and gas infrastructure that is being built on the south coast has been described in this board many times. Plus the state of the art port already operating is described on the Baron Oil web page.
The Tibar Bay port, the country’s first public-private partnership (PPP) on the outskirts of the capital Dili has given Timor-Leste a new gateway to the world as well as to lucrative shipping lanes and the potential for more trade, investment, and jobs. One of the biggest single investments the country has ever seen, the port created over 500 jobs during its construction phase with a similar number expected in the future.
Filthy
Whilst I respect your opinion, and respect your view to an opinion, please respect mine, even if we disagree.
I have been a shareholder for 6 ye
Horta and Guasmo are doing a fantastic job. Their only mistake is continually saying yes to Woodside who are holding back the Greater Sunrise project.
Years, and I am just stating that the market , which normally trades forward, does not appear to see what we see.
We have had several positive announcements that have not had any real effect on an increase in the mkt cap.
We for years have been told we are in discussions. Just stating a fact.
The TL govt have taken 20 years to get to where they are now. Which to me is not progressive
Jelly, I thought your post was a bit negative. You’re entitled to make it. It’s a board for discussion. There was no disrespect intended. Apologies if I have offended you. You could well be correct in your assessment.
I consider the market is well aware of the H &G globe trotting habit avoiding positively hoping for a hand out ,their track record is well known !! Just pray they will see the light if only for there destitute population.
Well, I suspect all will be revealed either way shortly. The next drill or drop date is less than four weeks away and I doubt they’ll take it to the wire to make an announcement as all previous extensions have been announced in advance of the deadlines. If we are going to have to extend they’ll be requesting the extension now. If they’re going to secure the Q4 drill, I’d imagine they will need to pay a deposit or book the rig very soon. Hopefully they are in the final negotiations for securing funding, which may involve multiple parties, which takes time. So in short, whichever way this goes, I doubt we’ll be waiting much longer for the next piece of news.
Butler has been excellent in his communication so far. It can’t be too far off. Obviously, he’s dropped a few hints and now investors want to know more. An air of despondency seems to have gripped the board. A blue day is definitely required to life spirits. I had completely given up on this share after the dilution. Still working that off but there is plenty of reasons to feel optimistic.
Despite all the damage caused by Yeo, there is still plenty that can go right with this share…
My thoughts only, Transparency from the board in any company is key. We had a long time with Yeo and the chaiman giving out snippets and then a long silence followed.
I just hope AB is not following that pattern. Sound bites are great if they are followed up. And that means even letting the shareholders know that the bod are behind schedule, I understand nothing goes to schedule but just let the investors know, by any means of communication channels.
You should have a clear roadmap, stick to it as best as possible and inform the shareholders where you are on that roadmap. Transparency and communication goes a long way to giving shareholders confidence, even if it means telling us the timelines will not be met as originally stated.
I read what you said lucre,but I see it in a less positive light.I think it will get there eventually.If the majors and market saw it in the way you do the sp would be far in excess of the present level,which can only mean they have a very different opinion
MD
MD, first of all, great to see this board in discussion mode. Not the 0.08p by Friday posts. Does the market sometimes undervalue a company? How much is down to sentiment. BOIL’s reputation as a pump and dump stock is hard to shake. After the last episode, trust went out the window. Off course a section of investors don’t rate the project and don’t believe it will happen. Many others just want out at the first available opportunity. No matter what transpires. Not sure how we get past that. Maybe only a drill in place will do. I’ve heard AB spell out what’s in store and it sounds pretty good to me. The big attraction is the low risk nature of the drill. Huge selling point. Confident Butler and his team will deliver.
Filthy
You are right, the only issue is the funding for the drill. AB made a very bold statement that the company would not lean on the shareholders to finance that drill. A statement was made that the company are in some very interesting discussions with possible funding partners. We have heard nothing as yet.
Mr Yeo said pretty much the same thing then raised at a ridiculous rate , then left a few weeks later.
So Mr Butler has to deliver a funding partner very very soon. As I repeat , he said we are having very interesting conversations, we will not need to lean on shareholders ( not the exact words) etc etc.
We need transparency, because we are all just guessing.
Lucre,yes they sometimes do,but,the way the price is controlled and little spikes are created by the aim mm’s to make them a living every few weeks is quite annoying if you’re an investor.
The very low level of sp at present, because of the lack of trust, just helps the market because it is so obvious that many people have their finger on the buy button knowing that it could take off in an instant.The market then makes the most of this to do their thing.So that’s where they’ve had us for so long now and it just winds me up 😀
MD
Jelly. Absolutely certain nothing is being held back. Once something is in place, it will be reported. Let’s hope we can pull off a deal which secures us financially. There’s nowhere to hide. AB has laid out the timetable.
MD. Drives me nuts. I believe it will change at a point when the project becomes irresistibly attractive and potentially hugely lucrative to investors and company alike. That might be tomorrow morning.
0.08p by Friday. 👍
We have been treading water here for a while,but all good things come to those that wait :-) our new boss is putting all the relevant pieces in place and i am sure we will see some decent newsflow over the next 3 months.
As an aside anyone see that UPL came out of voluntary suspension yesterday to judge by company statements and hints in various RNS i would say they about to announce a big JV partner,haspotential to double or treble your money there very quick IMO there will be buyers flocking in there today imvho
We are down a tad today but UPL looks set for a decent move up IMO