focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
That seems extremely optimistic. Good news that Great Sunrise will happen and the necessary infrastructure is being built right now. All of it. That’s confident and purposeful leadership. Their will be a route to market for Chuditch.
Betano will become a new city located by the sea.
(from ARS journal, 13-02-2024).
The oil refinery and petrochemical project will be established in Natarbora, and a new city in the eastern part of the sea will be built in Betano.
Minister of Petroleum and Mineral Resources shared insights into the government and TIMOR GAP E.P.'s master plan. The plan involves the development of infrastructure that supports the Liquefied Natural Gas (LNG) industry, petrochemical, and refinery operations in more strategically viable locations.
Furthermore, the commitment to bring the Greater Sunrise project onshore aligns with this strategy, promising to secure the operational functionality of the LNG plant and other industries, bolstering investment in infrastructure both existing and planned.
His Excellency the Minister of Petroleum and Mineral Resources remains confident that by 2031, the Greater Sunrise field, significantly larger than Bayu Undan, will commence production. This development is expected to last up to 30 years, providing a substantial boost to Timor-Leste's economic development efforts.
https://m.facebook.com/story.php?story_fbid=pfbid0gDVmk73zEHcJEYF3MyirHV9ogGd1AdDEaBCsw7wZxu3n6eSfsGudAf4UX5oZggiVl&id=100068692602149
Amazing the hindsight warriors . I must have missed their posts when the price was 100% up.
LOL.
You guys are down on Andy Yeo. I’m not sure bar a dressing gown and a humdrum zoom call what he’s done wrong. I’ve had personal correspondence with him from Gold Oil days. I’m impressed. He’s positioned us with Andy Butler into a strong position. Share price doesn’t reflect this and it’s difficult to take. But scapegoating him for this seems a tad unfair. I will now hide away whilst the outraged posts come flying in.
Thanks Meadow. Very interesting.
OK. thinking if this was a possible Chuditch partner, why monkey around with sharing elements of the work now and not just sign a comprehensive deal.
Share price needs that extra bit of information. There’s almost a lack of belief out there that Sundagas can actually drill Chuditch and sit on a huge bonanza of gas. Share price indicates no progress nor any down the line which is ignoring what’s actually happening.
Doug, you’re reading a lot into this. TBH, I don’t fully understand your post but it’s very interesting.
Surely operational synergies is exactly what it says on the tin. Two companies saving a lot of money via shared equipment/facilities and sub contracting tasks common to both their operations. If Yeo has skilfully negotiated joint working agreements which negates the need for dilution, then he should be carried shoulder high by investors. Not the same as a joint venture but pretty handy. The glass is half full or half empty. We’ll find out soon enough.
I’m not sure. This work plus much else will cost millions. However, if dilution is ruled out, then the share price should rise significantly. A lot of very strange trading patterns since the collapse in the share price. I’ve given up guessing. None of it makes any sense.
Would have been nice if the RNS had contained something like, Baron Oil has sufficient funds to carry out all environmental and preparatory drill work.
Thanks Meadow. Be very surprised if you get a figure. The RNS feels very incomplete. Lacking in the specifics for some reason. It could be argued the survey is a mini joint venture in itself. Like to see this on a grander scale. I’m not going to bash Yeo. This work is necessary and we on schedule to drill. Let’s be honest, we haven’t the capability to go it alone. Financially or otherwise. We need a very rich benefactor. We need a partner.
I suppose the question is, how much is the site survey going to cost? Excellent that they are saving money but offshore work will be expensive. This is before rig mobilisation and all the rest. The threat of dilution is weighing heavily on the share price. Is dilution inevitable? It’s actually a very positive update but we are here for the share price. Nothing else.
Meadow, what you say regarding the sum of money required for drilling and what any placing would actually raise is true and hopefully a good reason for it not to happen. That off course is offset by the temptation to bolster the war chest in an easy fashion with operational requirements the excuse.
Meadow, TL have already given their answer, pulling the country apart and risking social cohesion as they build an LNG based gas industry. They’re not waiting for Woodside. They are pushing ahead. Greater Sunrise will happen. Woodside or not. Fantastic for Chuditch which will play its part.
Better translation
Prepare a venue for the socialisation activities of the nine government programmes in relation to the development of the sea project to be carried out in BETANO / MANUFAHI tomorrow 12 February 2024.
Meanwhile work pushes on to prepare for a major gas industry. No going back now.
Secretary of State for the Municipality of Manufahi and the PNTL Municipality of Manufai to coordinate the activities of the Ministry of Petroleum and Socialization for the Socialization of the Plan and Program of the Constitutional Government for the Development of the Project for the Development of the Management of the Municipality of Manufahi which will be carried out in the 12th of February 2024 at BETANO Manufahi
[Timor GAP want to establish an LNG terminal in the country. It will convert its light fuel oil power plants, the Hera and Betano to run on natural gas. Betano is an oil power station located northeast of Betano, in the Manufahi District of East Timor. It was built to supply the South coast of East Timor with electricity]
Dough, TL may be very poor but they seem to have built layers of bureaucracy and officialdom equivalent to any western state. Quite impressive actually. More departments than you shake a stick at. I expect environmental permits will go through many channels before granting. However Sundagas will have done their homework and don’t see a hold up. Don’t see any corrupt rubber stamping either.
Jarv, that’s very well spotted re the previous spike. Very concerning. Not inevitable by any means but I’m beginning to fear the worst. Investors deserve better. Let’s hope Timor Gap’s greater involvement can help find a more reasonable solution to funding. What has happened the talks with other parties? Real or not.
Perth 10 February - Indian Ocean Conference
This morning HE Bendito Freitas, Minister of Foreign Affairs and Co-Operation held bilateral meeting with The Hon Minister Penny Wong, Minister of Foreign Affairs.
“The relationship between Timor-Leste and Australia is important and remains strong.
Our nations are closely connected. We have a shared history, and we share the common values of democracy, support for human rights and international law”, HE Bendito Freitas, Minister of Foreign Affairs and Co-Operation
🇹🇱🇦🇺🇹🇱🇦🇺
I’ll take the 0.3p
Absolutely. I know Yeo and Butler are working their socks off to make this happen. We seem to have gone from highly tipped minnow to most hated share almost overnight. Totally disorientating and incomprehensible to many of us. Feeling a little punch drunk. Some stability would be welcome.
Interesting week and a totally bizarre trading day.
Share price frozen in the midst of a lot of trades. Don’t understand the selling frenzy at this rock bottom price either.