Member Info for filthylucre

Hey. You’ve got me all wrong. Pity we will never meet. I wouldn’t read too much into the contents of a posted message on an energy company bulletin board. Chilled out. Not frosty.

MD, no jokes required. This is an amazing achievement for two inspirational leaders. They have stood strong for the people of Timor Leste. An example to all in how to lead a nation. Sunda are definitely in the right place at the right time.

Head of State Jose Ramos Horta said that he believes with effort the 9th Government, led by Prime Minister Kay Rala Xanana Gusmão, will attract Greater Sunrise to Timor Leste (TL). President of the Republic, Jose Ramos Horta, gave these certain news to journalists when he finished his visit to the Convent of Madre Alma in Bebonuk on Monday (25/11/2025). Horta stated that he cannot believe 100%, but the PR believes that with the effort made by the Prime Minister, Greater Sunrise will be brought to TL. The President of the Republic said that despite FRETILIN voting against the Maritime Boundary, Dr. Mari Alkatiri also stated that he does not agree with the Pipeline coming to Timor, there are other people. However, the Government and Prime Minister have defended this since the President took office.

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

Recently, the process for the pipeline or Greater Sunrise project has been given the green light, because after debating the proposal for the State General Budget (OJE) 2025, the Prime Minister met with special representatives from Australia regarding the process of the pipeline project in Timor. CNRT Political Bench Deputy José Virgílio congratulated the 9th Government, which had debated on the 2025 budget and is currently in the execution phase of the 2024 budget, and now has paved the way for the pipeline project to proceed.

"We are all waiting for this progress, the pipeline from Australia to Timor-Leste will directly benefit the people, especially for young people who are unemployed, so congratulations to the IX Government," said MP José Virgílio in the National Parliament (NP) on Monday (25/11/2024). He stated that after the budget debate, there was a special representation for Greater Sunrise or the pipeline from Australia to meet with PM Xanana to discuss the process of attracting the pipeline to Timor-Leste. Meanwhile, FRETILIN Bench MP Joaquim dos Santos 'Boraluli' asked the government, through Prime Minister Xanana, to provide them with information on the results of the recently conducted study on Greater Sunrise, which has already been made public. He demanded that the results be distributed so they would have enough time to study the documents. According to the Deputy Minister of Parliamentary Affairs (VIMAP), Adérito Hugo, progress for the pipeline negotiated by the technicians who developed it publicly is ongoing. During an official visit by a special representative of Greater Sunrise Australia, Esteve Bracks, to meet with Prime Minister Kay Rala Xanana Gusmão, with PCM and MPRM (who provided various interpretations but not yet an official one). According to him, it is hoped that by the end of December before the end of 2024, the agreement between the two governments can be made official, the ongoing progress can be understood, and the Timorese government's position is clear that the pipeline should be developed into the country without any change thus far.

Meadow, Here are some of the corporations and key players involved in oil exploration in the Sulu Sea:

Corporations:

1. Shell Philippines Exploration B.V. (SPEX): A subsidiary of Royal Dutch Shell, operating in the Sulu Sea since 1978.

2. Philippine National Oil Company - Exploration Corporation (PNOC-EC): A state-owned corporation leading the country's oil and gas exploration efforts.

3. Chevron Malampaya LLC: A subsidiary of Chevron Corporation, operating in the Malampaya gas field, which is located in the Sulu Sea.

4. Nido Petroleum Philippines Pty Ltd.: An Australian-based oil and gas company with interests in the Sulu Sea.

5. Otto Energy Ltd.: An Australian-based oil and gas company with exploration interests in the Sulu Sea.

6. PNOC-EC's subsidiary, Galoc Production Company (GPC): Operates the Galoc oil field in the Sulu Sea.

Joint Ventures and Partnerships:

1. Shell-PNOC-EC Joint Venture: Explores and develops oil and gas resources in the Sulu Sea.

2. Chevron-Shell Joint Venture: Operates the Malampaya gas field.

3. Nido Petroleum- Otto Energy Joint Venture: Explores oil and gas resources in the Sulu Sea.

4. Ratio Petroleum Energy LP, an Israeli company, has been awarded Service Contract 76 by the Department of Energy to explore and develop oil and gas resources

Anybody think of a question for AB?

If you have any questions for our December Webinar guest speakers Dr Andy Butler, CEO of @SundaEnergy and Mike Ralston, CEO of @BlencoweRes, please submit them here -

https://x.com/_focusir_/status/1859601452206813212?s=46&t=4OhPIlkjr64BSxzsR8hkIw

I can’t keep up. Barely read the posts.

Inpex waiting patiently……

PRESIDENT RAMOS-HORTA DISCUSSED JAPANESE INVESTMENT OPPORTUNITIES WITH JAPANESE AMBASSADOR AND JETRO

Nicolau Lobato Presidential Palace - November 20, 2024

President J. Ramos-Horta met with the Japanese Ambassador to Timor-Leste KIMURA Tetsuya and JETRO (Japan External Trade Organization) Director Mr. Takhasi at the Nicolau Lobato Presidential Palace to explore potential investment opportunities for Japanese companies in Timor-Leste.

The meeting focused on promoting strategic investments, with particular emphasis on key projects including shipbuilding and solar power development. JETRO, a government-related organization that facilitates international trade and investment, is currently managing regional interests through its Indonesia office, which also covers Timor-Leste.

During the discussions, President Ramos-Horta expressed appreciation for the Japanese government's commitment to exploring investment prospects in the country. The talks centered on creating pathways for trial investments by Japanese companies, highlighting the potential for economic collaboration between Japan and Timor-Leste.

The meeting represents a significant step in developing bilateral economic relations and attracting foreign direct investment to support Timor-Leste's economic development goals.

https://www.facebook.com/share/p/15g8J3kGiw/?mibextid=WC7FNe

Plenty on FB, see Petroleum Minister’s post. No point in repeating what’ already been posted. Anything which is new, off course myself or others will share it.

The news hasn’t quite sunk in with Sunda watchers. The fallout will mean a lot more attention directed at not just Greater Sunrise but Chuditch also.. We need some news from Sunda.

JC, I think a lot of this looks to be agreed. Pipeline to TL, development of their South coast ( already begun) for processing facilities andPSC’s almost in place.

An agreement between the major players on Greater Sunrise is what’s been holding this up and unless they’re talking a big bluff. This looks now in place.

23 years in the making. It will move quickly now.

If I were Matthew Suttcliffe, I’d sign that piece of paper right away.

A very nice summary of today’s major news by the ministry of petroleum

𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐏𝐚𝐥𝐚𝐜𝐞, 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟐𝟏, 𝟐𝟎𝟐𝟒

The Governments of Timor-Leste and Australia have confirmed the conclusion of the concept select study for the Greater Sunrise project, conducted by Wood Australia, a company headquartered in London.

This significant development was the central topic of a meeting held at the Government Palace in Dili between His Excellency Prime Minister Kay Rala Xanana Gusmão, accompanied by His Excellency Minister of the Presidency of the Council of Ministers and Greater Sunrise interlocutor, Agio Pereira, and His Excellency Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, with Australia's Special Representative for the Greater Sunrise Project, the Honorable Steve Bracks.

The Honorable Steve Bracks reaffirmed the Australian Government’s readiness to support and expedite the Greater Sunrise project, promising that an announcement related to the project will be made in the near future.

His Excellency Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, expressed his satisfaction with the positive outcomes of the concept select study conducted by Wood Australia. He also noted that the report on the process is expected to be finalized soon.

Once the report is completed, the Sunrise Joint Venture (TIMOR GAP, E.P., Woodside, and Osaka Gas) along with the Governments of Timor-Leste and Australia will conduct thorough internal analyses before determining the next phase and announcing future decisions related to this strategic Greater Sunrise project.

Very encouraging news. The only thing missing is Woodside and their reaction. Looking more and more like a compromise is on the cards and Greater Sunrise will finally be developed. Major development for Chudich, funding and future plans.

DILI, STLTIMORLESTE.com -

The Parliamentary bench of the Popular Liberation Party (PLP) has expressed doubts about the Constitutional Government's commitment to bring the Greater Sunrise pipeline to Timor-Leste. "At present, our investment focus is almost entirely on the Tasi Mane project, as we want to be able to explore Greater Sunrise and bring the pipeline to Timor-Leste to improve and boost our economy.

However, we know that the IX Constitutional Government has not committed to bringing the Greater Sunrise pipeline to Timor-Leste before the end of their mandate," said MP Maria Angelina Sarmento during the debat on the 2025 General State Budget in the National Parliament (PN) on Wednesday (20/11/2024). She mentioned that even though several MPs from the government bench have declared that the pipeline will be brought to Timor-Leste in 2025, it has not happened yet. This is because the Minister of Petroleum and Mineral Resources stated that the pipeline will only be brought to Timor-Leste in 2032-2034. "The Minister of Petroleum's statement in the specialty debate contradicts the President of the CNRT Party, who is now the Prime Minister, who declared during the campaign that when CNRT is in power,development and exploration of the Greater Sunrise field will start in 2025, and in 2026, the funds from the Greater Sunrise field will be put into the Petroleum Fund to ensure that we have a larger fund," she clarified. Despite this, the opposition bench MP declared that if Timor-Leste does not explore the Greater Sunrise field by 2030, they will face serious difficulties in achieving global zero emission policies that major nations want to achieve. She concluded by saying that the government's inability to prioritize the exploration of the Greater Sunrise field and ensure the sustainability of the Petroleum Fund will pose challenges in the near future.

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

November 20th 2024 -Prime Minister (PM) Kay RalaXanana Gusmão intervened to provide an explanation to parliamentarians in the National Parliament (PN) regarding the loan plan that the government will make when starting the exploitation of the Greater Sunrise. This explanation is in the scope ofthe discussion and approval of the proposal for theGeneral State Budget (OJE)2025 in the seventh day ofthe specialisation phase in-the National Parliament, on Wednesday (20/11/2024) for-the opposition.

https://m.youtube.com/watch?v=Zd8GwnBMzvM

State General Budget

The government is committed to managing state resources rigorously and transparently, including the creation of strategic infrastructures, to project economic development and the well-being of the people's lives. Furthermore, it highlights the commitment to the realization of the Greater Sunrise project, negotiation of land and maritime borders with Indonesia, and making investments that benefit the nation and future generations. Her Excellency the President of the National Parliament, Fernanda Lay, appeals to the government to effectively execute the people's funds and prepare quarterly debates with the National Parliament, regarding the progress and challenges in implementing programs and budgets. The proposed budget for the year 2025, with 2.617 billion US dollars, aims to finance strategic investments, strengthen the economy, improve citizens' well-being, improve public services, promote economic growth, and build a prosperous future for all Timorese.

https://www.facebook.com/share/p/1AZbi2numS/?mibextid=WC7FNe

Discover the untapped potential of oil and gas in the Sulu Sea and Liguasan Marsh, located within the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), and learn how these resources could transform the Philippines' energy landscape!

https://youtu.be/091jtDihUBs?si=R-UqFXPKMGYMYW-0

Slightly different reporting

DILI, STLTIMORLESTE.com -

Minister of Petroleum Resources and Minerals

(MPRM), Francisco Monteiro clarified the relocation of two LNG plants; Kadoras in Beasu and the Petrochemical project in Betanu to Natarbora in order to increase efficiency. Monteiro explained that the relocation of the projects from Beasu to Natarbora was not only due to Beasu, but also because another project in Betanu was relocated to Natarbora. He stated that this relocation was necessary due to technical reasons in order to make the projects more effective and efficient. "In some components of the project, it is necessary to have some facilities located in the same place. Although some facilities like the LNG Plant in Kadoras and the Petrochemical project in Betanu need to be located in Beasu, they were moved to Natarbora because there was a place to combine them and there were not many people living there. Therefore, some facilities could be shared," explained MPRM, Francisco Monteiro in the debate of the proposal for the 2025 General State Budget (OJE 2025) at the National Parliament in Dili on Tuesday (19/11/2024). The government member noted that another reason for the relocation was related to commercial and financial reasons, concerning cost savings. If the projects were initially built in Beasu, then they would have to be relocated to Natarbora later. This means that at the time of discussion, some people argued about the need to not put too much pressure on the Petroleum Fund. Thus, there was no need to build an expensive road connecting Suai to Betanu, or to use an expensive hearing to spend $700 million. Therefore, it was possible to say that at that moment, there were discussions with the population in which they could receive a compensation of $500 million. Unfortunately, this happened too late.

Monteiro argued that if the refinery and petrochemical projects in Betanu continued, Kadoras would need to be built from Suai to Betanu, which would cost up to $80 million, and combined with a port in the area, it would cost up to $300 million. According to him, by looking at all the budgets, a saving of $1.3 billion could be made.

The National Parliament approves the budget of the National Petroleum and Mineral Authority and the IHTL, as well as the institution for the protection of marine resources. 19th November

The National Parliament approved the proposed budget with a value of over 11 million US dollars from the National Petroleum Authority - ANP, I.P. under the supervision of the Ministry of Petroleum and Mineral Resources. His Excellency the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro explained that the government is preparing a strategic orientation for ANP, I.P. to regulate and supervise both onshore and offshore petroleum industries.

After the signing of the maritime border treaty, the governments of Canberra and Dili continue to designate ANP, I.P. as the authority for the Greater Sunrise field, representing both states in the supervision and management of the petroleum field. This state entity has been able to promote oil blocks to attract investors in onshore and offshore areas, such as signing agreements with Kazakhstani company HTS to invest in the Ailembata area, Viqueque Municipality while continuing to supervise and regulate the drilling project in Covalima responsible for Timor Resources, also planning to drill in the Betanu area. In addition, with Finders company to explore the offshore oil block that includes Kitan field, with a total of 662 square kilometers and a reserve of 20 million barrels, equivalent to more than one billion US dollars, and also projected for continuation of production in Bayu Undan. Excellency Minister Monteiro justified that the government needs fund to finance important components of the South Coast project. Excellency Minister Monteiro also presented a strategic plan to shift the LNG plant from Beasu to Natarbora and to establish a refinery and petrochemicals from Betanu to Natarbora, due to technical synergy and commercial matters that can contribute to reducing the oil fund collection. Since the highway will only be constructed up to Natarbora and combining the industries in one place allows for more efficient and effective environmental management.

https://www.facebook.com/share/p/1WGJ7fe4GG/?mibextid=WC7FNe

Easy to forget in this dreary frustrating and nothing period that Sunda holds a significant portion of a world class energy asset with exploration a matter of months away. Expectations of big movements in our share price are fully justified.