Member Info for filthylucre

Friday, 09 August 2024: Regular update from Dr. Andy Butler, CEO of Sunda Energy and Managing Director of SundaGas Banda, after the recent change from Baron Oil to Sunda Energy, as well as Mr. Matthew Sutcliffe from Pacific LNG.

https://www.facebook.com/share/p/WKcvri8B6qVoqkby/?mibextid=WC7FNe

Thanks Chris. You couldn’t miss it. All over FB. Surely both companies had to know about it beforehand. One way or the other, a hastily worded update is coming our way.

Be very interesting to see how Sunda react to the FB post. Been shared countless times across the TL sector. Embarrassing or possibly intentional.

Picking up on the downstream Natarboro reference. “To ensure alignment with the potential development of the Chuditch field”. INPEX visited the energy ministry last February. From that meeting:

Minister Monteiro shared Timor-Leste's South Coast plan and extended an invitation to INPEX to visit the future site of these projects. INPEX mentioned planning a visit to Natarbora in the coming months to explore potential opportunities. Seems like planning for Chuditch gas is very much in play.

Surely an RNS in the making. We have a partner on the project A big one at that. Game changing news. So quiet so little interest. Has to change now.

TL government involvement. Forward planning on commercial development.

Bingo.

Pacific LNG Transport of natural gas

https://aplng.com.au/

𝐒𝐮𝐧𝐝𝐚𝐆𝐚𝐬 𝐚𝐧𝐝 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐋𝐍𝐆 𝐁𝐫𝐢𝐞𝐟 𝐌𝐏𝐑𝐌 𝐨𝐧 𝐂𝐡𝐮𝐝𝐢𝐭𝐜𝐡 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭

𝐅𝐚𝐫𝐨𝐥, 𝐃𝐢𝐥𝐢 – 𝐀𝐮𝐠𝐮𝐬𝐭 𝟗, 𝟐𝟎𝟐𝟒

Today, the CEO of SundaGas, along with senior management from Pacific LNG, met with Minister Francisco da Costa Monteiro to provide an update on the progress of their plans to drill a well in the Timor Sea. The meeting also focused on understanding Timor-Leste's development plans for the downstream sector, particularly in Natarbora, to ensure alignment with the potential development of the Chuditch field, contingent on successful drilling outcomes next year.

The discussions highlighted the importance of coordinating efforts to maximize the benefits of the Chuditch gas field, and both parties expressed their commitment to working together closely to support Timor-Leste's broader energy strategy.

https://www.facebook.com/share/p/rfAe2Dc6DXKa6HUh/?mibextid=WC7FNe

It certainly does. News output has been appropriate and timely. A much more professional and attractive company for new investors. I hope AB takes his time and only updates when deemed necessary. There is no rush.

Generally agree, both MD and Meadow. The interviews, presentations and news output have surprised and delighted me since AB took the reins. New name, professional image. No update is better than a negative update. There maybe delays, permit issues, impasse in the talks. Whatever. When it’s time we will hear. I’m toughing it out. Peru was a disaster. This looks much better. I’ve averaged down. I’m hopeful. Markets generally a disaster. Maybe this will buck the trend.

Spot on, Eddie. Good post.

MD, I wasn’t talking about you. Criticism and discussion are welcome. I’ve been very negative in the past. My mood fluctuates with the share price. It does however work both ways. I like Butler and I think he’s working hard for us. I was merely describing my thoughts on what I’d read. Not policing anything.

The Central Bank of Timor-Leste has disclosed the latest financial status of the Petroleum Fund's asset allocations. As of August 5, 2024, the Liquidity Portfolio holds assets totaling 3.1 billion, while a more substantial sum of 14.5 billion has been designated to the Growth Portfolio, reflecting the fund's strategic distribution of resources. Additionally, the Petroleum Fund currently maintains loans amounting to 596 million, indicating its lending activities within the broader scope of its financial management and investment strategies. This update provides a snapshot of the fund's financial disposition and asset distribution at this point in time.

The possibility of a loan from the TL petroleum fund is surely available if a deal isn’t possible.

An update with no progress from the last update is not what I want to see. I’d prefer to wait for real news.

MD, I agree, investors are worried and anxious. However rubbishing AB and his efforts doesn’t sit well with me. I think he’s genuinely doing his best to get the funding and everything else associated with the drill. I’ve seen failure with Gold Oil. I know what’s it like but I knew the risks and I got it wrong. I’m optimistic here and I believe we have the right man in charge and the prospect of substantial share price growth. I do not believe information is being deliberately withheld or the company doesn’t care about their shareholders. Getting a good deal or any deal is not without risks.

Absolutely Snodgrass. We simply have to wait. Share price decline is very disappointing but not unusual for this company. The drill and everything that could mean for shareholders as far as I know is still on course. It’s entirely down to each one of us to either hold or exit. You take your chances.

Jelly, maybe there are problems. Maybe the market knows and is reacting. Maybe this share will flop. But what exactly do you want people to say in response to your post? If you don’t like Butler or the company, you should sell now before a crash. I’m happy to wait but there’s nothing certain. If I lose it, I lose it. I knew the risks and I’m pretty sure AB is doing his best and good luck to him. If it goes tits up, my mistake and no one else’s.

Still open for business.

𝐌𝐏𝐑𝐌 𝐈𝐧𝐯𝐢𝐭𝐞𝐬 𝐂𝐡𝐢𝐧𝐞𝐬𝐞 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐭𝐨 𝐈𝐧𝐯𝐞𝐬𝐭 𝐢𝐧 𝐏𝐞𝐭𝐫𝐨𝐥𝐞𝐮𝐦 𝐚𝐧𝐝 𝐌𝐢𝐧𝐞𝐫𝐚𝐥𝐬

𝐁𝐞𝐢𝐣𝐢𝐧𝐠, 𝐉𝐮𝐥𝐲 𝟑𝟎, 𝟐𝟎𝟐𝟒

His Excellency the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, extended an invitation during the Timor-Leste Business Forum on Investment Opportunities in Beijing, China, for Chinese companies to invest in the petroleum, gas, and minerals sectors.

In the petroleum and gas sector, Timor-Leste presents potential investments in onshore and offshore exploration, as well as in the downstream gas industry. Specifically, the country is looking at refineries, petrochemicals, liquefied natural gas (LNG), and ammonia plants, which are considered catalysts for socioeconomic development in Timor-Leste, transforming the economy from subsistence-based to modern and industrialized.

Previously, PetroChina, a subsidiary of CNPC, has been responsible for conducting magnetic and gravitational surveys across the country, laying the foundation for petroleum and gas exploration in Timor-Leste. Numerous Chinese companies have also visited Timor-Leste to explore opportunities in petroleum and mineral exploration.

Https://www.facebook.com/share/p/arhQhPXCiBvujQmi/?mibextid=WC7FNe

Joint communique. Very grandiose in language if not a little short on detail.

JOINT STATEMENT BETWEEN THE PEOPLE'S REPUBLIC OF CHINA AND THE DEMOCRATIC REPUBLIC OF TIMOR-LESTE ON STRENGTHENING COMPREHENSIVE STRATEGIC PARTNERSHIP

Beijing, 29 July 2024

“The two nations will further their development strategies by deepening cooperation in four key areas: industry revitalization, infrastructure development, food security, and livelihood improvement. The Chinese side stands ready to strengthen cooperation with Timor-Leste in such areas as trade and investment, agriculture and fishery, health, water conservancy, energy, education and poverty reduction, expand cooperation on tourism, digital economy, green development and help Timor-Leste to achieve independent and sustainable development. The two sides spoke highly of the achievements of Belt and Road cooperation and agreed to sign BRI Cooperation Plan, Civil Air Transport Agreement and MOU on strengthening agricultural cooperation”