Member Info for filthylucre

Noticed the last couple of Sunda Energy social media posts detailing plans for their Chuditch campaign got the thumbs up from a Mr. Agostinho Maia. Currently, Head of Investment Division within the Petroleum Fund Management Department, Central Bank of Timor Leste.

A funding Chuditch deal might stretch far and wide.

A little reminder on X

#SNDA's Chuditch Project lies in the heart of a prolific gas fairway with good reservoir quality. Sunda is planning a high impact appraisal drilling campaign on Chuditch-2 to accelerate the project's development.

MPRM PARTICIPATES IN DEBATE ON THE IMPORTANCE OF TIMOR SEA DEVELOPMENT Dili, February 21, 2024

His Excellency Minister of Petroleum and Mineral Resources, Franciscoda Costa Monteiro, participated in a debate on the program Haksesuk at RTTL, E.P., to talk about the importance of Timor Sea development for the development process. During the debate, the deputy from the Popular Liberation Party, Maria Angelina Sarmento, and the economist and lecturer at UNTL, Fernando Anuno, questioned the consistency of the Tasi Mane project and the strategic shift from the LNG plant in Beau and the Petrochemical plant in Betanu to Natarbora. Minister Monteiro stressed that the Tasi Mane project is a national project that will finance the country's needs for the near future, ensuring that the project meets the established schedule and the development of the oil industry, such as the LNG Plant, Petrochemical plant, and Refinery, to ensure operational efficiency and effectiveness and create synergy in the oil industry.

https://www.facebook.com/share/p/12EJUJ9fgBC/?mibextid=WC7FNe

Let’s kick off with Venezuela

𝐌𝐈𝐍𝐈𝐒𝐓𝐄𝐑 𝐌𝐎𝐍𝐓𝐄𝐈𝐑𝐎 𝐌𝐄𝐄𝐓𝐒 𝐖𝐈𝐓𝐇 𝐕𝐄𝐍𝐄𝐙𝐔𝐄𝐋𝐀𝐍 𝐀𝐌𝐁𝐀𝐒𝐒𝐀𝐃𝐎𝐑 𝐓𝐎 𝐃𝐈𝐒𝐂𝐔𝐒𝐒 𝐂𝐎𝐎𝐏𝐄𝐑𝐀𝐓𝐈𝐎𝐍 𝐈𝐍 𝐎𝐈𝐋, 𝐆𝐀𝐒, 𝐀𝐍𝐃 𝐌𝐈𝐍𝐈𝐍𝐆 𝐒𝐄𝐂𝐓𝐎𝐑𝐒

Dili, 21 February 2025

His Excellency the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, met with Her Excellency Ambassador Jessica Maria López of Venezuela to explore potential collaboration between Timor-Leste and Venezuela in the oil, gas, and mining sectors.

During the meeting, Ambassador López expressed interest in strengthening bilateral relations and exploring opportunities for cooperation. Minister Monteiro acknowledged Venezuela’s extensive experience in the oil and gas industry, as well as its significant mineral resources, and discussed the possibility of technical exchanges to enhance Timorese expertise.

Venezuela holds one of the world’s largest proven oil reserves, estimated at approximately 300 billion barrels, making it a key global player in the sector.

Minister Monteiro highlighted the importance of capacity building and knowledge transfer, suggesting that Timorese professionals could benefit from training programs in Venezuela, particularly in petroleum and mineral exploration. Both sides expressed interest in further discussions on collaboration in the near future.

𝐌𝐏𝐑𝐌 𝐏𝐑𝐄𝐒𝐄𝐍𝐓𝐒 𝐎𝐕𝐄𝐑𝐕𝐈𝐄𝐖 𝐀𝐍𝐃 𝐎𝐔𝐓𝐋𝐎𝐎𝐊 𝐎𝐅 𝐓𝐇𝐄 𝐎𝐈𝐋 𝐀𝐍𝐃 𝐆𝐀𝐒 𝐒𝐄𝐂𝐓𝐎𝐑 𝐓𝐎 𝐃𝐄𝐕𝐄𝐋𝐎𝐏𝐌𝐄𝐍𝐓 𝐏𝐀𝐑𝐓𝐍𝐄𝐑𝐒

Dili, 20 February 2025

His Excellency the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, presented an overview and outlook on the development of the petroleum, gas, and mineral sectors to resident and non-resident ambassadors during a session organized by the Ministry of Foreign Affairs and Cooperation.

Minister Monteiro highlighted the importance of petroleum revenues in driving Timor-Leste’s economic development and the need for a comprehensive strategy that goes beyond extraction, prioritizing downstream industries to generate broader economic benefits and reduce long-term dependency on the sector.

To achieve this, Minister Monteiro outlined the government’s strategic programs, particularly the Tasi Mane Project, which includes the Suai Supply Base, the Natarbora Refinery, a petrochemical complex, and a Liquefied Natural Gas (LNG) plant. These developments are designed to process hydrocarbons from the Greater Sunrise gas field and other nearby fields, stimulating economic activity and maximizing the value of national resources.

The presentation also covered ongoing and upcoming exploration activities, including the Chudditch gas field, where drilling is expected to commence this year, and Kelp Deep, which is under consideration for near-term exploration. Updates were provided on the Kitan and Bayu-Undan fields, which have already contributed over $23 billion to the Petroleum Fund, as well as onshore exploration in Covalima, Betano, and seismic studies of additional blocks.

In the mineral sector, Minister Monteiro highlighted the establishment of Murak Rai Timor, E.P., a state-owned entity tasked with advancing mineral exploration. The company is leading the evaluation of 28 mineral blocks with potential resources, including marble, chromite, gold, copper, and rare earth elements, which could serve as an alternative revenue stream for the country in the future.

His Excellency the Minister of the Presidency of the Council of Ministers, Agio Pereira, representing His Excellency the Prime Minister, presented key government initiatives focused on infrastructure development as the foundation for economic transformation, ensuring access to opportunities and employment, reducing inequalities, improving living standards, and fostering economic growth.

https://www.facebook.com/share/p/1A79UTo54V/?mibextid=WC7FNe

Yes. It’s taken a while but Chuditch in the same sentence as Greater Sunrise is progress of sorts. It’s an unstoppable, game changing, economic life line which has to happen. I just hope investors are not blown away with a crummy deal and AB gets this right.

𝐌𝐈𝐍𝐈𝐒𝐓𝐄𝐑 𝐌𝐎𝐍𝐓𝐄𝐈𝐑𝐎 𝐌𝐄𝐄𝐓𝐒 𝐖𝐈𝐓𝐇 𝐑𝐔𝐒𝐒𝐈𝐀𝐍 𝐀𝐌𝐁𝐀𝐒𝐒𝐀𝐃𝐎𝐑 𝐓𝐎 𝐃𝐈𝐒𝐂𝐔𝐒𝐒 𝐎𝐈𝐋 𝐀𝐍𝐃 𝐆𝐀𝐒 𝐂𝐎𝐎𝐏𝐄𝐑𝐀𝐓𝐈𝐎𝐍 𝐀𝐍𝐃 𝐂𝐀𝐏𝐀𝐂𝐈𝐓𝐘 𝐁𝐔𝐈𝐋𝐃𝐈𝐍𝐆

Dili, 20 February 2025

His Excellency the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, met with the Ambassador of the Russian Federation to Timor-Leste, His Excellency Sergei Tolchenov, to discuss opportunities for cooperation in the oil and gas sector, capacity building, and potential technical training programs for Timorese professionals.

During the meeting, Minister Monteiro highlighted Timor-Leste’s ongoing efforts to develop its oil and gas sector, particularly in upstream and downstream activities. The Minister emphasized the country’s openness to collaboration in exploration, noting the potential of Timor-Leste’s key gas fields, including Greater Sunrise, Chudditch, and Kelp Deep. His Excellency also welcomed the participation of Russian oil and gas companies in future projects, highlighting the importance of mutually beneficial partnerships.

https://www.facebook.com/share/p/14xzT9GKyf/?mibextid=WC7FNe

Your daily reminder of what is possible.

Clarion was an early investor in InterOil Corp (IOC) which drilled the largest vertical onshore gas well in the world, and was subsequently acquired by ExxonMobil for $2.5 billion.

Pacific LNG Operations Ltd. was incorporated by Clarion in order to hold a direct interest in the concessions in Papua New Guinea (PNG), and subsequently sold its interest in the PRL-15 gas field in 2014 for USD $900 million plus further payments.

Pacific Rubiales (PRE) has become the largest independent oil and gas exploration and production company in Colombia in just five years. The company was co-financed by Clarion in 2008.

Yes. The Philippine award is coming and 100% in the bag. Doesn’t excite me one little bit. BARMM is currently in the throes of increased violence and constitutional uncertainty. Great blocks though. If you’ve got 10 years to play with.

Well, that’s very interesting, Silver. Could well be a different one. Has to be in the area though. We will wait.

Ps. Better keeping his email of the board. He would want to keep a lid on the type and number of queries coming his way. In fact, he’s a decent spud for replying. Thanks, anyway.

If it’s the Valaris 247, then it’s unlikely we will be drilling Q2, but not impossible.

The 1998-built Valaris 247 was awarded a one-well contract with Jadestone Energy offshore Australia. The contract will start in March 2025 in direct continuation of the rig’s current program with Eni.

The deal with Eni started in December 2024 and will end in March 2025. The rig is working on a $180,000 dayrate.

https://splash247.com/valaris-wins-120m-in-deals-and-gets-rid-of-four-stacked-rigs/

How can be so sure there is no deal agreed? I’m assuming this is all in order. Just waiting for an official announcement.

Let’s see what the subject matter of his talk is. Reasons, to raise the profile of the company. Looking beyond Chuditch for new deals. I like to see Sunda sitting with the giants of the industry. Money well spent if we benefit from new partnerships.

You seriously don’t expect a response on this matter to an individual investor. He can’t do that.

I love the sound of speculation in the morning. PLNG insisting Timor Gap pay their share of the upcoming costs as part of a final financial package.

Speculation but could be what has been holding up the Chudutch funding arrangement.

The Council of Ministers approved the expenditure authorization for the celebration of the Subsidy Contract between the Ministry of Petroleum and Mineral Resources and TIMOR GAP, E.P. with an amount of 16 million US dollars for the fiscal year 2025. The

expenditure authorization was presented by His Excellency the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, at this Wednesday's Council of Ministers meeting, to ensure financing for the activities and strategic programs of TIMOR GAP, E.P., for the year 2025.

That’s worth repeating. It isn’t a case of hurry up with the sensational news and I can grab my winnings. It’s more a case of hope that the plans work and the rewards follow.

Gold Oil/ BOIL. Different personnel, connected to Sunda vis handovers but not the same company.. This started with Sundagas and now Sunda Energy. You can’t lump them all together and blame the new crew for failures in the past. Sunda Energy have moved quickly and have secured meaningful agreements which should come to fruition over the coming weeks. It’s taken a long time to get where we are now but I for one am thankful for the new board and the progress made. That includes the charitable work and the close relationship with Timor Gap and the TL government.

Five days to conduct an environmental survey. The data has to be analysed then added to a completed submission. The last one Eni put forward to their regulator was 700 pages long. The delay in booking the rig was due to the current work programme over running. How can Sunda Energy be blamed for the Philippines delay? They were told Q4 2024. All members of the consortium are waiting. Investors in the energy sector in TL are committed to giving something back in the form of community support and rightly so. How anyone can complain about this is beyond me. Ridiculous whinging on a nuclear scale. The company have worked miracles to get this far. Communication has been excellent and Andy Butler comes across as a dynamic and trustworthy leader. Couldn’t really ask for more.