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Note the words on the itinary “Sundagas success and update”
Draw your own conclusions as to what that means. It looks a big part of the itinary on here https://www.in-vr.co/timor-leste-online

So I am expecting some good news based on that. They wouldn’t put that to share some bad news would they. Dyor guys but I’m following the dots and think we will do well. Let’s see.

We will see. It dropped in feb /March because Of the fear of placing and then the placing. It won’t follow the same pattern again and they have cash now until into next year. Value driver is the online conference where it clearly states on the agenda (and a big part of it too)

Exploration updates in Timor-Leste
- The Chudith Gas Discovery and the PSC TL-SO-19016 license, SundaGas’ success and update

Note words Sundagas success. Have they got good news to share? Sounds like it.
Also note that Sundagas Andy Butler is speaking, as is Francisco Monteiro who is President and CEO of Timor Gap (state owned who own 25% of Chudditch)
Ain’t selling a bean down here.

I work out the implied value for now of Boil’s asset to be 2.2p per share. Big upside and only 2 weeks until news from Sundagas

These figures are important because shells sold stake is almost identical to Boil’s.
However the gas in place (Sundagas/boil asset) is 45 % of the size of the field sold by shell. However since then a lot more activity is taking place.
By any metric, I assume value of circa 43% of the $300 million (Based in asset size) which gives Boil’s stake an implied price of $130 million or circa £104 mill. However this doesn’t include upside to the field or include the increased activity in the area.

HOUSTON – ConocoPhillips (NYSE: COP) today announced it has entered into an agreement to sell to the government of Timor-Leste its 30 percent interest in the Greater Sunrise Fields. The total sales price of the transaction, which is conditioned on the government receiving funding approval from the Timor-Leste Council of Ministers and National Parliament, as well as regulatory approvals and partner pre-emption rights, is for $350 million, prior to customary adjustments. Proceeds from this transaction will be used for general corporate purposes.

Oil and gas Shell is exiting the long-stalled Greater Sunrise offshore gas project in the Timor Sea, agreeing to sell its interest to the Timor-Leste government for $300 million. Shell follows the steps of ConocoPhillips which announced the sale in October.

Note just looking at this
https://www.in-vr.co/timor-leste-online
That interest now is picking up.
Net to BOIL their asset is circa 400 BCF. Producing comparable finds looking at circa $400 mill of value.
Pre production implied circa $120-150 mill imo based on above.
The mcap here is £6 mill with almost half cash plus other assets. See you all at 0.5p
Dyor

Usual trolls appearing now. Note that shell/ConocoPhillips sold their interest in Timor Leste back to the government for $350 million. They do have a bigger field but this was at a time where commercialization wasn’t as likely as now.
https://www.energy-pedia.com/news/timor-leste/shell-and-conocophillips-close-sale-of-interests-in-greater-sunrise-fields-to-timor-leste-176419

Agree. I’m staying long. Could tag 0.5p over next 2 weeks very easily imo.

For those that haven’t seen, the online summit for Timor Leste states
“ Exploration updates in Timor-Leste
- The Chudith Gas Discovery and the PSC TL-SO-19016 license, SundaGas’ success and update”

Worth reading through how significant the Timor Leste license is.
https://www.in-vr.co/timor-leste-online

Nickel- I’m in both. Both seriously could get to 1p pal

Nickel- they placed £2.5 mill to fund until next year

ommented…

"Now that our shareholding in SundaGas TLS is established, we look forward to the progress of the Timor-Leste project, which has the potential to make a step-change in the value of your Company. Following the recent Placing, our proposed work programme for 2020 and into 2021 in Timor-Leste, Peru and the UK is funded.

ommented…

"Now that our shareholding in SundaGas TLS is established, we look forward to the progress of the Timor-Leste project, which has the potential to make a step-change in the value of your Company. Following the recent Placing, our proposed work programme for 2020 and into 2021 in Timor-Leste, Peru and the UK is funded.

Brilliant. Look who’s talking
Andy Butler Sundagas
https://www.in-vr.co/timor-leste-online

Nickel- I would report that post . Funded until next year. That’s fraud posting that

Should do a copl imo and tag the 0.3’s in the coming days. News on Timor Leste should be in 2 weeks and they have circa 400 bcf net with 100% cos. Priced little more than cash. Should be at 0.5p already imo

Anything between 0.5p and 1p this should do imo

Should run and run to 0.5p imo

Jonesrichard- it’s position taking for the news. Timor Leste world class asset and has 100% COS according to RNS and as it’s gas, price is local gas price so not following oil directly