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In his meeting with the Australian minister yesterday, Horta did talk of a communique ready to go on Greater Sunrise. He hadn’t been updated on its contents.

Republic President (PR), Jose Ramos Horta had a meeting with Australian Interior Minister (MI), Tony Burke, at this mutual meeting the President asked for attention to be paid to Timorese workers in Australia and requested that their numbers be increased.

They also talked about the Greater Sunrise with the Prime Minister, which I do not know about yet, I have not heard how the Prime Minister dealt with it. Now, in January, the joint communiqué has been concluded, but I do not know if they have made any concrete progress, and I have not received an update from the Prime Minister," said PR Horta.

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It may well be nervous or extremely anxious investors bailing out because quite frankly this delay in funding an imminent drill is a concern. An update. Even a reassurance PLNG are still onboard would be useful. Nothing been said of late about progress.

I think we’re going to get a joint statement on Greater Sunrise in the next couple of days. Whether things have moved forward is another matter.

As regards Jobs, you forgot to mention Timor Gap just took delivery of two helicopters for offshore work, primarily at Bayu Undan. Bayu Undan could be our new home for future Chuditch gas flows.

IFK, the hydrogen blocks were part of the same bidding round advertised last February. We went for petroleum.

Around 50 local and international oil and gas exploration and production companies, including those foreign companies operating in the country, attended and shown interest in participating in the bidding for coal, petroleum, and native hydrogen exploration and development in the Philippines and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

Sulu left BARMM 6 months ago. They're currently trying to find a way back. The waters around the Philippines are under central government control. The blocks will be awarded by the governmental Department of Energy. They have already given out the some of the coal licences.

Five days is nothing. Permit in place might be the green light to proceed with rig hire and possibly get the funding over the line. The environmental permit is as important as anything else connected to the drilling.

IFK, I was pleased to see the ENI decommissioning project using the Valaris 247 at Blacktip began on time and is progressing. They were previously held up by the environmental regulator. There is no fixed time period for this work and we could well get early use of the rig. It’s close to Chuditch. I’m just speculating.

This is good to hear. Breaks the silence and reaffirms the project is on course. More to come.

MD, impossible to say. Depends on what type of deal is being negotiated. There can be nothing certain about construction work required to process gas without first the development of Greater Sunrise. Woodside still in talks with Timor Gap. Having set that, PLNG signed an exclusivity agreement before the recent progress on Sunrise. Is the exclusivity agreement still in place? What guarantees does PLNG have. We have to wait. Maybe tomorrow we’ll find out.

We needed a rig and funding in place for a Q1 drill. AB spoke confidently about making Q1 happen. That looks ridiculous now when we’re still waiting for an update, now in Q1. Maybe the extra quarter is being used to refine and optimise a better funding arrangement. It’s very odd to have so many loose ends still in place in late January.

Thank you Hoey. I like the Telegram people. I was actually part of the group and left of my own accord in a silly stubborn mood. I have friends who post there. The work done on helping to change CEO was unbelievable. The one downside is the closed nature of the group. This clunky platform reaches the wider investing community. It is possible to use both and I was silly leaving it.

I can only imagine negotiations around funding Chuditch involve the TL government as much as they do Sunda. PLNG (if still around) will want more than just assurances over proposed pipeline and future LNG processing. Hellishly complicated or maybe a simple solution depending on the deal. We wait.

I certainly am not. 😊 I gather there is some crossover? Bound to happen. Telegram must be bursting with theories. Hopefully positive ones.

Might be of interest to PLNG.

January 23,2025 (TATOLI) - President of the Republic, José Ramos Horta requested that the government quickly accelerate the approval of a new investment protection law to provide guarantees to investors who wish to invest in Timor-Leste (TL). "Timor must be in a condition to do-this. I have spoken about this for a year. There are already experts in the government working on the approval of a new investment protection law and double taxation. If it is well done, we can create a special tribunal for arbitration to resolve contractual disputes," President Hortatold TATOLI Agency during the closing session of the Annual Meeting of the World Economic Forum at Seehof Hotel in Davos, Switzerland this week. According to the President, there are many investors from various countries who want to invest in TL, but they want our legal mechanism, justice, and our own courts to resolve issues of identity, independence, and impartiality according to international rules.

"Investors contacted me, from Korea, China, Europe and others, asking for investment protection laws, double taxation justice and arbitration tribunals, but because it is not yet clear, investing in Timor is delayed," reported the Head of State. It was also recalled that before this, the National Parliament, through Commission D, dealt with economic and development matters, proposing to the Government a revision of investment and commercial society laws."

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It’s pretty terrible. Easing off a little but damage to property is widespread. Never experienced anything like it. I’m off to B&Q if it’s open. Rubbish strewn everywhere. Hopefully Scotland spared the worst of it.

The least biggest surprise is these blocks. Why get excited about something we know is already factored in. I’m more concerned about my garden fence which has disappeared overnight. Place like a war zone.

Frankly I would be surprised if this spike is related to the Sulu blocks. Let’s have a comprehensive RNS encompassing rig, funding and environmental approvals. Not impossible.

Interesting conundrum for releasing the Sulu sea block result. Triangle Energy are an Australian listed company. There is no time which suits UK and Australian markets. Maybe result this weekend.

Maybe, I might be wrong but I think the 45 days related to previous work by ENI just off Darwin. They are using it again right now. Different environmental type work at Blacktip.

Eddie, ENI currently working the Valaris247 at their Blacktip field. Decommissioning work, cleaning the sea bed type stuff. Work began on time a few weeks back. There is no fixed time for the work to finish but we could see the rig moved to Chuditch early Q2

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My experience of blue vs red over the years. When I see a lot of blue, the share price nearly always rises and when red appears, it’s likely to fall. If it’s a guess, it’s a damn good one. It’s not always correct but I find it pretty spot on.