Member Info for filthylucre

ASX-listed Triangle Energy has banked a trifecta in the Philippines, with contingent resources in the hundreds of billions of cubic feet and gas-hungry markets on tap, Triangle is now sitting on what could be Southeast Asia’s next major gas story. Capping off two years of determined groundwork - and bolstered by crucial backing from the Australian Embassy in Manila and Austrade - Triangle says the achievement marks a major new country entry.

What first drew Triangle’s eye to the acreage was the groundwork laid by Mitra Energy and its senior partner and oil giant, Exxon, which sank three wells between 2009 and 2010 to deliver two gas discoveries - an enviable hit rate by any explorer’s standards.The two finds - dubbed Dabakan-1 and Palendag-1 - came up trumps with a big resource of 470 billion cubic feet (Bcf) of gas and 5 million barrels (MMbbl) of condensate in the 2c recoverable category. Triangle has since done significant groundwork on the blocks using extensive 2D and 3D seismic surveys left behind by Exxon to pinpoint several lookalikes and it has landed on a massive primary target called Halcon. Described by management as a very large “basin floor fan” structure, the company believes Halcon is hugely prospective and could contain between three and as much as a whopping 6 trillion cubic feet (Tcf) of gas in resource. Backing Triangle in its offshore push, UK-based Sunda Energy has snapped up an equal 37.5 per cent stake in the venture. Staffed by several former Mitra geoscientists familiar with the region, Sunda brings a wealth of local know-how - making it an exceptionally well-matched partner capable of unlocking the Sulu Sea’s untapped potential.The remaining partners, Phillodrill and PXP Energy, were invited to bring up the rear with a 12.5 per cent share each. Their involvement as local Philippines companies is seen as a savvy move that will likely ease the path to what are already some of the best fiscal terms in the world.

📺 14TH EDITION OF ‘“PÁGINA DO GOVERNO”' WITH THE MINISTER OF PETROLEUM AND MINERAL RESOURCES, FRANCISCO MONTEIRO

The 14th edition of the “ Página do Governo” programme features the Minister of Petroleum and Mineral Resources, Francisco Monteiro, who addresses the Government’s strategic vision for the sustainable development of the oil and mineral resources sector, the progress of negotiations on Greater Sunrise, the implementation of the Tasi Mane project and plans for economic diversification through industrialisation and mining.

📍 RTTL | 🔴 Friday, 17th October 2025, at 8:00 p.m.

https://timor-leste.gov.tl/?p=45605&n=1&lang=en

I’ve applied through HL. Waiting to find out if successful. A decent offer.

If the company considers that it is on track to sign a rig contract before the end of 2025, then the company is on track to acquire the funding before the end of the year. A decent looking deal, nothing spectacular, would transform the share price. The gas field is an enormous prize. Been here before but back with renewed vigour.

As a long term investor desperate to see chuditch drilled and a rebound in the share price, the update was very welcome. Risky, uncertain but a clear path laid out and the return of optimism after the disaster a few months back. This is why I’m still in this share.

2028 mentioned. Guessing more delays.

The Government will work Finalizing the Greater Sunrise Negotiation Come to Timor-Leste

https://www.facebook.com/share/v/17Su8WyFX5/?mibextid=wwXIfr

Timor GAP and Sunrise JV will conclude negotiations 3 documents this year

https://www.facebook.com/share/v/16YN3rdwjt/?mibextid=wwXIfr

Seminar on the challenges and sustainability of the Petroleum Fund and alternatives to the post-Bayu Undan state was organized by the Ministry of Petroleum and Mineral Resources - MPRM and Core Group Transparency - CCD, 09 October 2025. The Ministry of Petroleum and Mineral Resources (MPRM) efforts to ensure fiscal stability and continuity of economic development, according to His Excellency the Minister of Petroleum and Mineral Resources, His Excellency Francisco da Costa Monteiro. For the governor, the oil sector is considered a productive sector, because it can produce and collect revenues for the state, but needs a comprehensive and integrated plan associated with the Tasi Mane Project, to develop Suai Supply Base with industrial park and highway connected to Natarbora. To sustain this strategic vision, it is necessary to develop the Greater Sunrise Field, to bring oil to Natarbora, revitalize the Bayu Undan field which will exist one-third (1/3) of the initial reserve, strengthen with the Chudich field and accumulate in the Bayu Undan Platform, to require the installation of the GNL Liquid Natural Gas Plant. Erased. This scenario could also stop the gas pipeline to Australia, but if Australia is interested in the CCS (Carbon Capture and Storage) project, it will be injected into the Bayu Undan reserve, to project production and ensure energy security in the future.

https://www.facebook.com/share/p/1F5L4BVejJ/?mibextid=wwXIfr

What first drew Triangle’s eye to the acreage was the groundwork laid by Mitra Energy and its senior partner and oil giant, Exxon, which sank three wells between 2009 and 2010 to deliver two gas discoveries - an enviable hit rate by any explorer’s standards.The two finds - dubbed Dabakan-1 and Palendag-1 - came up trumps with a big resource of 470 billion cubic feet (Bcf) of gas and 5 million barrels (MMbbl) of condensate in the 2c recoverable category. Exxon however, elected to simply walk away from the play due to low gas prices at the time, leaving Mitra as the sole operator of the blocks. Mitra was then taken over by Jadestone Energy, who then relinquished the blocks in 2018 to focus on oil, leaving the licences vacant and up for grabs.Triangle has since done significant groundwork on the blocks using extensive 2D and 3D seismic surveys left behind by Exxon to pinpoint several lookalikes and it has landed on a massive primary target called Halcon. Described by management as a very large “basin floor fan” structure, the company believes Halcon is hugely prospective and could contain between three and as much as a whopping 6 trillion cubic feet (Tcf) of gas in resource.Backing Triangle in its offshore push, UK-based Sunda Energy has snapped up an equal 37.5 per cent stake in the venture. Staffed by several former Mitra geoscientists familiar with the region, Sunda brings a wealth of local know-how - making it an exceptionally well-matched partner capable of unlocking the Sulu Sea’s untapped potential.The remaining partners, Phillodrill and PXP Energy, were invited to bring up the rear with a 12.5 per cent share each. Their involvement as local Philippines companies is seen as a savvy move that will likely ease the path to what are already some of the best fiscal terms in the world.Triangle Energy Global managing director Conrad Todd said: “We are delighted to add these high impact exploration Service Contracts to our portfolio. The awards are the culmination of substantial effort by Triangle and its JV partners, which we expect will lead to the drilling of significant exploration upside in these contracts.

Wags, the group is called Sunda Energy Plc. Check out the video.

https://youtu.be/whr_Q02tWl8?si=MzfUwKxNFVQNcgII

Hi Wags. The invitation to join the Telegram group has to come via the group administrator. In this case, it’s Jarvy55. She does occasionally write on this board. I will look into this more tomorrow.

Sulu Sea is underexplored but highly prospective, with structural similarities to prolific basins in Indonesia and Malaysia. Deepwater, higher-cost exploration. Co-management with BARMM MENRE adds regulatory complexity but also local engagement.➡ Best for high-risk, high-reward frontier exploration.

Chuditch and chuditch only will mean long periods of waiting. Even after a successful appraisal drill. Infrastructure to be built etc. Investors don’t like zero news periods. Other projects can fill that gap. Money needs to be found and that money put to work.

Certainly an issue with corruption in the country but having two local companies in the consortium has advantages. Based on the consortium for Service Contracts 80 and 81, which includes PXP Energy Corp. and Philodrill Corp., having two Filipino companies drill in the Sulu Sea offers several advantages, including mitigating political risks and ensuring stronger alignment with national interests. 

Streamlines regulatory processes. Local companies have established relationships with government bodies like the Department of Energy (DOE) and regional authorities, which can help navigate complex permitting and regulatory procedures more efficiently.

Ensures effective community engagement. Local firms are often better equipped to build trust and maintain open communication with host communities, which is crucial for obtaining and maintaining a social license to operate. This helps mitigate potential social and environmental conflicts that can stall or jeopardize a project

Good to have this under our belt. We have overnight become a more interesting acquisition for any buyers out there. Throw a good chuditch update on top and things could start to change.

It’s lovely and chatty over on Telegram 😉

With the upcoming webinar a matter of weeks away coupled with the real possibility of a pre-webinar update , there is, dare I say, an unspoken air of expectation, even excitement. Got to deliver something tangible. Given the timeline, I wouldn’t bet against it. Here we go again.

I think the recent student riots have shaken the government. Trust and stability is fragile. The pressure is on to show progress on Greater Sunrise and Chuditch. Solutions to develop these fields will happen and happen quickly.

This is a great article. Hasn’t been posted here. Seen it today on Telegram. Really interesting. Has the feel of insider knowledge about it and Chuditch sits very prominently in the overall plan described.

The plot thickens.

I have him on filter but I don’t see why it’s acceptable to have someone on here whose sole purpose is to abuse other shareholders. Because that’s essentially what is. I would encourage others to email LSE and report him. His sneering voice and childish antics spoils decent conversation and debate. I believe he will be removed.