Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
LOL
I had the same problem in the early days. Skoda's were paper thin too. I buckled my work colleague's car just by leaning against it.
Local parts department:
Have you got a fuel cap for a Skoda?
Sure, mate - seems like a fair swap.
That reminds me of Willie Rushton's joke on prime time TV a few years ago:
What's the difference between a sheep and a Skoda?
It's slightly less embarrassing getting out the back of a Skoda...
The SP may even finish down today. Who knows. The webinar will shed further light on what we already know - nothing more.
But keep loading up. Everything is aligning. One of these days we'll wake up to an RNS that will be truly life changing - and it could happen twice, with both Chuditch and Dunrobin coming to the party!
GLA :)
ENI have now got experience of developing an FLNG too after bringing the Coral South FLNG into production this year in Mozambique. Next stop Timor Sea!
https://www.eni.com/en-IT/media/press-release/2022/06/coral-south-introduces-hydrocarbons-to-flng-offshore-mozambique.html
ENI as drilling partner makes a lot of sense. They were awarded block P in the last licence round which is right next to Chuditch - meaning both blocks can tap into the same hybrid platform/FPSO system.
If a major does make a grab for Chuditch you can be sure that the drilling will be fast-tracked.
FPSOs are becoming much more eco-friendly as they develop the technology too - which is something that the Timorese government will welcome.
https://www.upstreamonline.com/sponsor-content/fpsos-benefiting-from-decarbonization-and-digitalization/2-1-1326953
My 3.5M buy shows as a sell - just shows how useless the algorithm is
Just added another 3.5M at the off...come on BOIL!
This is a big step in the right direction, HFB, with the Timorese government publicly declaring that they'll be in trouble if they don't monetise Greater Sunrise very soon - and very positive language used in regard to Australia and Woodside.
Hopefully they'll soon go public with their need to monetise Chuditch too!! :)
Shallow water with minimal drilling costs - one of the most promising North Sea assets of all current licences. The sharks will bite soon.
This hybrid FLNG/platform concept must surely be attractive to the Timorese government. It doesn't require the laying of a pipeline across the trench to the southern shores, which makes it considerably more eco-friendly. And if they can capture and store the carbon dioxide in the spent Bayu-Undan field then that is all the better. Given Horta's recent comments and concerns over the use of fossil fuels, that "if developed countries give Timor-Leste $100bn, they will ‘give up on the Greater Sunrise development," BOIL's proposal must surely be gaining some traction. It provides TL with a fast-tracked route to meet their own domestic requirements, upgrading the three power plants into the bargain, whilst they build an onshore liquefaction facility. BOIL really have put themselves in the spotlight here.
If TL give the green light and one of the majors gets involved, I think they could fast track their LNG production target of 2028 to 2025. Seriously big potential here.
Agreed, HFB.
Today's RNS is very positive, but there's nothing much in there that wasn't known already - other than a revised update on the size of the asset, an increase in the percentage of gas recoverable, and a lower risk attached to developing the field. It had massive potential before - now that potential is a bit bigger.
It's all about the timing of this RNS. They must have known the results of the 3D seismic for a long time. It does rather look as though this has been timed for maximum impact when something else of major significance is about to land on the table. Let's hope so.
GLA
Sounds like my old girlfriend - double chin and chronic. Haha.
See you at the bar on Wednesday. What are you having? ;) :)
Those of us who bought at .06p or less have had a chance of a 6 bagger already. But I've hired a Luton van, not a Ford Fiesta, to bring home my bags.
We now have "significant increases in management's aggregate Gas-in-Place and Recoverable Gas Resource estimates" and BOIL are confident that a single appraisal well is all that is needed:
"As the preliminary subsurface interpretation is indicating an uncomplicated structural configuration for Chuditch, and subject to an ongoing revision of the Chuditch engineering concept study, a simpler field development concept is likely. The apparent increase in gas resources in the Chuditch-1 discovery itself suggests that a single appraisal well will suffice to determine commerciality of the project without the need for immediate follow-on exploration wells."
If a 6 bagger has been possible with zero value on the books, just think what this will be worth when a farmout or buy out becomes a reality - as it surely will in the not-too-distant future. Drilling is planned for both Chuditch and Dunrobin in 2023 so money would need to be raised to finance this. Both assets have huge commercial potential - it wouldn't be such a surprise if farmouts or buy outs took place before drilling commences. The CPR for Chuditch will be a big positive in affirming the commerciality of this massive LNG resource.
Hold and don't let go!
GLA
The question arises as to where the additional 1.35 billion is coming from. 3.15 billion is well above the 2022 GDP forecast of 2 billion. It can't all be coming from the Petroleum Fund since "The Petroleum Fund Act sets the withdrawal limit at 3% of estimated sustainable income (ESI)." ESI "is an important feature of the Petroleum Fund Act. It sets the limit on government withdrawals from the fund so it should not exceed 3% (annually) of the estimated petroleum wealth." Even allowing for the fact that "in reality the government’s withdrawal has reached up to 5% percent annually since 2009," 1.3 billion is an enormous chunk.
Has Australia stepped up to the plate and pumped a billion plus into the LNG Partnership Fund?
With dwindling funds and the drying up of revenue from Bayu-Undan, Timor Leste is on the edge of a fiscal precipice - so you don't commit to an additional 1.35 billion of spending without a measure of certainty that revenues from such an investment will be realised in the near future.
Let's hope you're right, HFB - Chuditch is the solution to the conundrum!
GLA
https://th.boell.org/en/2022/03/21/timor-leste-petroleum-fund
https://en.tatoli.tl/2022/08/09/bctl-report-petroleum-fund-decreases-from-us19-12-billion-to-us17-84-billion/09/
Of course - complete drivel.
And who cares if we hit the jackpot next week.
...it doesn't save properly.
CLON 6th on the list too
http://******************/rampchecker/rampchecktoptidm.php
LOL
http://******************/rampchecker/rampchecktoptidm.php