Member Info for filthylucre

Share price has that ready to be unleashed feel about it. I feel it in my bones with every buy recorded. Anyway, the question has changed from will there be a deal to what sort of deal. The news, when it drops will be absolutely fascinating. Who’s involved, what they offer and what they take in return. Will news on funding cover all matters or will there be loose ends still waiting to be agreed? Financial security going forward will dramatically change the picture. Not long to find out. An exciting time for investors coupled with a few nerves. Can’t take your eyes of this one.

You mean 0.1p. Surely.

There’s confident, smiling, hopeful Andy Butler. Then there’s this, business done and dusted, Andy Butler. Funding news imminent. New asset successful bid, already in the planning stage. That’s my reading. Should be quite a few weeks coming up.

Not a direct link to Chuditch but the approach taken by the petroleum ministry is the right one. Hopefully some pressure being applied to finalise a Sunda deal.

Finder Energy, today signed an agreement with the government of Timor-Leste finalising its acquisition of a 76% stake in PSC 19-11 for drilling in the Kuda Tasi and Jahal fields. The President of ANP, Mr Dino Da Silva, as well as the President & CEO of TIMOR GAP, E.P., Mr Rui Soares both signed the agreement.

The President of TIMOR GAP, E.P, Mr. Rui Soares, commits to working together with Finder to quickly develop the oil field that can support state financing and await the Greater Sunrise project. His Excellency the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, said that the signing of the PSC represents the confidence of investors Timor-Leste's geological development and bring prosperity to the nation.

https://www.facebook.com/share/p/VgjPzi6GgSyH8BFc/?mibextid=WC7FNe

The announcement of funding on Chuditch -2 together with an assembled consortium committed to a drilling programme of future commercial wells. Quickly followed by the award of the Sulu Sea basin wells. Not too much to ask for.

Makes sense to leave any major announcements until after the Pope’s visit. TL entire population and government departments is an almost a kind of hysteria right now. Better the attention after the big event.

JC, Sunda haven’t named the blocks or our bid partners. The other three companies haven’t announced the bid to their shareholders. All very odd considering the local governments have reported all the details.

There were three bids which got through to the final round. One has already been rejected. I’m hoping the award will be fast tracked. I think the initial assessment stage was ear marked for November. It’s already concluded. South China Sea now off limits to PXP. Sulu sea becomes very important and they’re in a hurry. Just a hunch.

The first one. Very high. The second one. Very high.

This company , if all goes to plan could be in a great place in a matter of weeks/ months. Off course, risks always abound. I’ve added more. The Philippine bid hasn’t even been properly registered or assessed by investors.

Eddie, it does indeed clearly set a timeline for end of year in your linked document. Can’t argue with that.

The statement 5 days ago from the Department of Energy appears to differentiate the COC timeline from the petroleum awards, one end of year, the other left entirely open. Maybe just clumsily stated. AB also stating, “there is no certainty of the timing of any potential awards”. Anyway, I’m excited and hopeful.

This new project ( if we get it) would be transformative for Sunda.

Full article ( Energy Circle) on the Tasi Mane project

https://www.energycircle.org/articles/building-timor-lestes-future-how-the-tasi-mane-project-is-changing-the-game

Eddie, the joint evaluation and recommendation (J-REC) targets to complete the comprehensive bid evaluation of COC ( COAL) applications in the fourth quarter of 2024 and shall recommend to the Department of Energy Secretary and MENRE (Minister of Environment, Natural Resources, and Energy) for signing and awarding before the end of the year.

The petroleum PSCs has no stated timetable according to the release by the Department of Energy and in Andy Butler’s own words, could come at any time. The article Ive read said by Q4 2024, which is basically anytime.

I think this might get in ahead of Chuditch. A brilliant bit of work from AB to get to this point.

Worth noting the license (as part of a consortium) for the two petroleum service contracts in the Philippines could be awarded at any time. Possibly this month. Targeting huge gas fields. Already discovered fields. Only two bids remaining from a starting number of 50 companies bidding on three PSCs and coal licences. Could be massive for Sunda if won and with PXP on board, highly likely.

The TWG ( technical working group) from the National and Bangsamoro Governments scrutinized bid applications from PXP Energy, SundaGas Ltd, Philodrill Corporation, Triangle Energy Global Limited, and DML Mineral Resources Corporation to determine whether they comply with the technical, legal, and financial qualifications for petroleum exploration.

These bids already passed the completeness check of requirements that was performed during the bid opening.

The Department of Energy expects to finalize the legal, technical, and financial evaluations by the fourth quarter of 2024, with top applicants being recommended to the Office of the President.

"Interest from prominent international players in hydrogen and petroleum exploration highlights the sector's potential,"

"This marks the beginning of a significant process that could extend over several years.

Immediate action is crucial for progress. “

Timor-Leste is on the move, and the Tasi Mane Project is at the heart of this exciting change.

🚧 What is the Tasi Mane Project?

Along the southern coast of Timor-Leste, three key areas—Suai, Betano, and Beaco—are being transformed. Suai will become a hub with a new port and supply base, Betano will host a refinery, and Beaco will see the construction of a pipeline and export facility. These developments will support the oil and gas industry, making it easier to explore, process, and export the country’s resources.

🌱 Why Does It Matter?

The Tasi Mane Project is more than just a construction project. It’s about setting up Timor-Leste for long-term success. By building roads, ports, and refineries, the country is preparing to play a bigger role in the global energy market. This means more money coming into the country, more jobs for local people, and more opportunities for everyone.

Plus, the project is being planned with the environment in mind. The goal is to develop the oil and gas industry in a way that respects Timor-Leste’s natural beauty, ensuring that progress doesn’t come at the cost of the environment.

📅 What’s Next?

There’s a lot more to explore about how the Tasi Mane Project is changing Timor-Leste. We’ll dive deeper into the details and what it means for the country in our full article this Wednesday.

https://www.linkedin.com/posts/the-energy-circle_timor-leste-is-on-the-move-and-the-tasi-activity-7236599019257425920-eSls?utm_source=share&utm_medium=member_ios

Timor-Leste: Santos concludes negotiations for TIMOR GAP’s entry into the Bayu-Undan joint venture

02 Sep 2024

Santos has announced the Bayu-Undan Joint Venture (BUJV) and TIMOR GAP have agreed terms of a Sale and Purchase Deed (SPD) to transfer a 16 per cent interest in the Bayu-Undan upstream project to TIMOR GAP, with an economic date of 1 July 2024. Execution of the SPD to effect this transaction is planned to occur in mid-September.

A seventh extension of the Production Sharing Contract to 30 June 2026 has also been confirmed.

https://www.linkedin.com/posts/holt-energy-advisors-ltd_timor-leste-santos-concludes-negotiations-activity-7236240502193295361-qu8y?utm_source=share&utm_medium=member_ios

Nice to see that Chryssa and Romina are flying in for Sunda’s announcement of their partnership deal on Chuditch. Should be quite an event.

On the 2nd of September, our CEO, Chryssa Tsouraki, and our Global Commercial Head, Romina Krauss, will arrive in Dili, Timor-Leste, to meet with the National Petroleum and Mineral Authority (ANP TIMOR LESTE) and our long-term industry partners in the oil, gas and mining industries. 💼

IN-VR has been actively involved in Timor-Leste's growth over the years. We’ve proudly organized the Timor-Leste Oil & Gas Summit for five consecutive years, bringing together international investors and industry leaders with Timor-Leste’s stakeholders. We served as the official promotion agency for the country’s oil, gas, and mining sectors, establishing partnerships and securing investment in offshore projects to, support the development of Timor-Leste’s energy and mining industries.

Chryssa and Romina will be discussing ongoing business and new opportunities to further strengthen the proud relationships we share with Timor-Leste and will continue to work towards driving growth in the country. 💡

https://www.linkedin.com/posts/in-vr-energy_on-the-2nd-of-september-our-ceo-chryssa-activity-7235088963886059520-1o_f?utm_source=share&utm_medium=member_ios

Thanks. It’s frustrating. We aren’t far away from a lot but held up waiting for the push of a pen. If we get the Philippine fields with a major local partner driving the exploration. Could be drilling in Q1 2025. Have to wait to December to find out. AB has plenty to report on in his next interview.

PXP partner on Chuditch? I doubt that. Things are moving that’s for sure.

If you do want to develop a minor company into a major player. This is how you do it. Off course we need events to work in our favour. But look at the potential (yes potential), then look at the share price.