focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
This is more VTโs area of expertise. Itโs good to see they are pushing ahead with the work. But one wonders , how long is this going to take? Will the Chinese continue to stump up the cash? Dangers of social unrest if Greater Sunrise is pulled. It has to happen.
๐ ๐ฃ๐ฅ๐ ๐ฎ๐ป๐ฑ ๐ฉ๐ฒ๐๐ฒ๐ฟ๐ฎ๐ป๐ ๐๐ถ๐๐ฐ๐๐๐ ๐ง๐ฎ๐๐ถ ๐ ๐ฎ๐ป๐ฒ ๐๐ฒ๐๐ฒ๐น๐ผ๐ฝ๐บ๐ฒ๐ป๐
๐๐ผ๐๐ฎ๐น๐ถ๐บ๐ฎ - ๐ง๐ต๐๐ฟ๐๐ฑ๐ฎ๐, ๐๐ฒ๐ฏ๐ฟ๐๐ฎ๐ฟ๐ ๐ด, ๐ฎ๐ฌ๐ฎ๐ฐ
Veterans in Covalima welcomed His Excellency the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, to the village of Kamanasa, Suai Administrative Post, to discuss the ongoing development of the South Coast.
His Excellency Minister Monteiro, who previously served as the President of TIMOR GAP E.P, is well-acquainted with the veterans in Covalima for their strong support in implementing projects such as the Suai Airport, Highway, compensation for citizens and land affected by the Suai Supply Base, and other initiatives.
He also emphasized the importance of continuing the South Coast project due to its critical role in creating jobs and other economic activities that will drive economic development in Covalima and Timor-Leste.
https://m.facebook.com/story.php?story_fbid=pfbid0tfUxHmQYUzKgR183iyFinuR9ztov7wckEC5EzaSriditCotMT2rbmjo4LZx9QBGhl&id=100094730889338
ShareBel. Please post more often.
Cheers
It wasnโt news in the true sense of the word. Already factored in. However, it wasnโt bad news either and it established progress.
Expect lots of news over the coming months. Hoping for a better reaction.
Risible. He says โthe share price will double, but then fall back for the remainder of the yearโ. What give him that idea? We were a certainty to be bought out a couple of weeks ago.
Charles Archer seemingly changing his tune with more predictions.
Baron Oil have JV funding arranged for Chuditch in the first two weeks of April 2024 โ and the partner will be Woodside. The share price will double, but then fall back for the remainder of the year.
https://investingstrategy.co.uk/stock-tips/i-now-have-a-crystal-ball-heres-what-happens-next/
I agree with everything thatโs been said today. But I will say this. Iโve had up to here with potential. Frankly sick of potential. Time to realise that potential and get this share price moving. Now where was I?
Iโm extremely disappointed in the falling share price. Was absolutely convinced we had broken through the 0.1p ceiling. Weโre now significantly lower than we were before the farm up. That canโt be right. I live in hope a reversal unexpectedly appears to propel us back up. Where we should be.
The company is 100% focussed on preparing for drilling. Funding is an issue and yes, I am concerned about more dilution. But holding tight.
The Sunrise decision before we drill will impact us enormously. Iโm optimistic Woodside will say yes based on the TLโs government current activity on oil and gas infrastructures. Horta on his travels may just have funding lined up. Plenty to look forward too. An announcement of crucial offshore investment would be very welcome.
You are correct Mr FlipFlop. Off course it hangs over this share like the grim reaper. They need money. Lots of it. A JV would be massive but thatโs not easy.
Howey, thanks for the kind words. Every day could be THE day. Small company. Massive asset. Drilling campaign planned. Thatโs worth hanging around for.
Australian Firm Plans Oil, Gas Development in Timor-Leste
This isnโt new. Must have missed first time around. On LinkedIn this morning.
An anonymous Australian corporation has plans to develop and utilize onshore oil and gas resources in Timor-Leste.
The company, which remains unidentified, is proposing an ambitious project to tap into Timor-Leste's onshore oil and gas reserves. This initiative could potentially revitalize the struggling nation's economy, providing substantial income through the export of these valuable resources. The onset of this venture comes at a critical time, as the government revenues of Timor-Leste have been facing a concerning decline over recent years. The implementation of this project could not only stabilize the economy but possibly give it a much-needed boost. However, the complex environmental implications of such a decision must also be considered.
https://newhorizonoilandgas.com/australian-firm-plans-oil-gas-development-in-timor-leste/
Howey, Iโm not going anywhere. Seeing this right through to its conclusion. When youโve been hanging around since Gold Oil and Z34, you do get fed up. Iโd rather itโs not just Ground Zero or Jackpot time. Would love to see share price movement and consolidation.
The potential is enormous. The company are doing their utmost and I will be over the top and bubbling with enthusiasm once the trajectory is up again.
Off course. However, I think good news might receive a very muted reaction after this latest spike and collapse. I hope not. Itโs not too much to ask for to watch a share price which slowly builds as a company progresses. Certainly provides me with a nice warm feeling inside.
Almost as if Iโm actually making some money.
We are all exasperated and scratching our heads. Too many feeling trapped from a high entry point last week and ready to jump at the first opportunity. Resistant points now hammered down extra strong.
Damned annoying.
A courtesy meeting between President of ANP Timor-Leste and the World Bank team, consisting of Ness Smith, Institutional Reform and Marine Specialist; Jose Paulo Pinto, Environmental Specialist; and John Martins, National Disaster Risk Management Specialist.
Good one Eddie and there is no doubt we are drilling a well with Timor Gap.
A major wanting to buy will no doubt want to see whatโs down there first.
The share price is making a complete fool out of me and anyone else who has talked up the company. How to make investors stick around in the run up to a drilling campaign is beyond me.
Unsustainable use of the oil Fund
Last year, according to the rectification of the General State Budget (OGE), approved by the National Parliament and promulgated by the Presidency of the Republic at the end of August, the FP financed about 68% of the total amount, which corresponds to 1.21 billion US dollars. The rectification also revealed that 82% of the total OGE was directed to the operation of the public machine.
The Oil Fund, which finances more than half of the OGE every year, is being spent in an unsustainable way, surveys reveal. In a report prepared by the VIll Government, at the time the details of OGE 2023 were discussed, it is stated that "under the current trend of expenditore- the Oil Fund will be exhausted in 2034".
According to the NonGovernmental Organisation (NGO) La'o Hamutuk, since 2008, when the investment policy of large projects was created, the Government has used much more than predicted by the Estimated Sustainable Income - a value advised to be withdrawn from the Oil Fund to guarantee long- term.
Timor-Leste Oil Fund grows more than one billion in the fourth quarter of 2023.
6 February 2024
Report of the Central Bank of Timor-Leste shows that the values increased from 17.5 billion US dollars to 18.2 billion US dollars.
The Oil Fund (FP) increased by about one billion in the last three months of 2023. Released on Tuesday (6.02)
by the Central Bank of Timor-Leste (BCTL), the authority responsible for the management of the FP, the report highlights that, from the third to the fourth quarter of last year, the value grew from 17.5 billion to 18.2 billion.
Part of the values of the FP are invested in international financial instruments, such as securities (in countries such as the United States of America and Japan) and
equity, which involve shares. Agostino Maia, BCTL investment technician, explained that the increase in FP in the period has to do with the rise in the interest rate that central banks in the world have applied in recent times to mitigate global inflation.
"The positive return of the FP reflects the expectation and investment policy in the market, since central banks try, in the future, to reduce inflation, in order to follow its path without harming FP's investment in the international market," he argued.
Regarding the direct revenues from the exploration of oil and gas, the coordinator of the FP of the Ministry of Finance, Filipe Nery Bernardo reported that, last year, the values came only from the Bayu Undan field. Located on the maritime border of East Timor and Australia, the area is in the process of being dismantled, as its reserves have been exhausted.
With this in mind, the coordinator warned of the need to use the amount of FP with more caution. "If we can no longer improve the inflow of FP revenues, we can only do two essential things: the first is to reduce the withdrawal of the Fund, in order to follow what is provided for in the Estimated Sustainable Income (CSR) - or we can even raise less than is foreseen in the CSR. The second is to realise the value of the Government's survey so that we can review our investment strategy, in order to obtain more revenues and guarantee the Fund in the long term," said Filipe Bernardo.
The authorities, however, hope that the exploitation of oil and gas in East Timor will bring good returns and place confidence, above all, in the Greater Sunrise field, the only one with commercially proven reserves so far. Representatives of the governments of East Timor and Australia, as well as companies interested in the business are still defining an extraction plan.
The field is submerged, 150 kilometres from East Timor and 450 kilometres from Australia. According to the Maritime Border Treaty, signed between countries in 2018, if the gas is processed on the south coast of East Timor, Australia gets 30% of the revenues and East Timor with 70%; if the gas is taken for processing in Darwin LNG, Australia, 20% of the revenues stay with the country and 80% with Timor-Leste.
Pacific Island economies show resilience amidst challenges
A new report by ANZ Research says there are challenges ahead for six Pacific Island countries in sustaining the momentum of economic growth.
But they caution that slower job growth, capacity constraints in the tourism sector, and subdued consumer demand are expected to moderate growth rates
Timor-Leste, on the other hand, is eyeing significant economic growth potential with the development of the Greater Sunrise gas project, which could transform the nation into an upper-middle-income country.
https://islandsbusiness.com/news-break/pacific-island-economies-show-resilience/
Agree Jc. They have pencilled in end of this year for a drill so they must be confident of obtaining the permits in a reasonable amount of time. The rig might be a bigger deal.
Thanks Meadow. I agree that company defining breakthrough news is what we need. It does surprise me however, to see the current sp when significant progress has been made and a timetable towards drilling is laid out.
Many posters have complained at the lack of PR. PR is important between RNS releases. It keeps investors up to date and brings in new ones. It can often in itself generate a rise in the share price. Hosting the president of TL in front of an audience of financial and other interested parties is a big deal. Itโs worth posting about. Well done Andy Yeo and good to see it on social media. Zero effect off course but very impressive nonetheless.
I guess funding and the fear of dilution hangs over us.
I noticed the companyโs legal team (Teasdale) were all over the LinkedIn posts with their likes. They, off course arranged the last two equity fundings .So the less I hear from them, the better.