Member Info for filthylucre

Interview with EU delegation spokesman. In English.

https://fb.watch/qjeEskynZL/

No doubt they would welcome the gas once in production but investing pre-production. I’d be amazed.

EU were talking about tourism, coffee etc. said they first needed a change in TL legislation to protect. investors money. Very green agenda.

Timor Leste surely

19 February 2024

AG&P LNG has emerged as the new supplier of a floating storage and regasification unit for an LNG import terminal in the Australian port of Adelaide.

The United Arab Emirates-headquartered LNG terminal developer has replaced GasLog on the Outer Harbour Project, according to project developer Venice Energy.

https://www.tradewindsnews.com/gas/ag-p-lng-replaces-gaslog-as-fsru-provider-for-aussie-import-terminal/2-1-1600207

Dili February 19 2024

Minister of Foreign Affairs and Cooperation, Bendito dos Santos Freitas, met with productive brothers and sisters and delegations from the United Arab Emirates (UAE) Embassy on Monday to discuss reinforcing bilateral cooperation between Timor-Leste and the UAE. During the meeting, Minister Bendito Freitas and UAE Deputy Chief of Mission, Shaima Salem, discussed friendly bilateral relations and mutual cooperation between Timor-Leste and the UAE, and agreed to exchange visits between the two countries' leaders in the coming years. Minister Bendito and Shaima Alhbesi also discussed the continuation of the process of the "Double Taxation and Promotion and Protection of Investment" agreement, which serves as an important basis for creating a favorable investment environment for UAE investments in Timor-Leste.

Steve, that’s a great post and eases some of my concerns. I hope the relationship is still strong but as Meadow and others have mentioned, TL officials start pushing the Chuditch story in their media interviews.

Meadow, I don’t think it’s hype. Japan are throwing bucket loads of cash in together with China’s Belt and Braces initiative. Not as yet energy related. But TL need to save guard new investors with legalisation to protect their investment. Still a backward country in many ways. Their focus is on Sunrise and they are investing heavily on its development which is bound to incorporate Chuditch.

They never talk about Chuditch. Why? Is it some sort of agreement with BOIL because of their market status or do they have no confidence in our company to see it through. I don’t know. Horta signed off the Timor Gap deal. Again. Never talked about it. It’s annoying and strange and it’s not helping. I agree with you. Still, the primary responsibility in seeing this project through belongs with us.

Meadow, to put the blame on TL for this seems mildly ridiculous. As you say, we were given the license for free. It’s our job to run a PR machine and our job to find a partner. If we can’t fund it, we should hand it back. Timor Gap have done their bit with a company saving cash injection. Horta and Co have spoken to Inpex, CNOOC, are we talking to them? I worry the relationship between TL and Sundagas is not good. I hope I’m wrong. BOIL could yet surprise us but running out of cash yet again strikes me as crisis management.

I’m far too forgiving but I find it hard to believe the dilution was something they did callously and without any consideration for their investors. Their hand was forced but that suggests deep seated problems at the very heart of this company with possibly more to come.

No need. But thanks. We’re all a bit tetchy.

Had anyone considered the possibility that this dilution was as a result of pressure from the TL government to get a move on. A number of extensions granted. Timor Gap assisting with a Farm Up to raise cash. Has the company gone to Horta with a begging bowl and been told to find the cash to move forward. Let’s face it, Horta might be thinking the project is too big for BOIL. A major would have drilled by now. I thought the reception at the embassy was cool towards BOIL. Horta hardly if ever mentioning Chuditch and BOIL in his comments about the UK visit. Is the relationship with TL government good ? Or is pressure and impatience a factor in all this. Can the licence be revoked if deadlines aren’t met.

Jelly, again, the comment about my time with BOIL was never meant to be anything other than “ I know how you feel” sentiment. I was emphasising with you. We both agree. There is no argument. Sorry, if I coming across badly. Let’s move on.

I think I will do. Thanks for the invitation

You’re absolutely correct. As a long term investment, it’s been an absolute disaster. Comes a point when you just write off your losses and hope that an unexpected turnaround comes along. Stranger things have happened and this was always a gamble. Expectations are rock bottom but whilst the possibility of a buyout or joint venture still exists, it’s not over. I haven’t given up on it.

Easy on. It was a simple question. You mentioned a mandate. I didn’t see one. You haven’t been here as long as me and we are all fed up. Not having a go.

Nothing for it now but hope they can redeem themselves. A master plan we hadn’t see coming. If we thought it was a trading share before, we ain’t seen nothing yet. Over to the board now to make this happen or move aside.

Jelly, they’ve been discussing drilling Chuditch for three years or more. Haven’t you noticed? Where does it say they’re not a drilling company? From their website:

Baron Oil Plc is an independent oil and gas exploration and production company incorporated in the UK in April 2004. The Company currently holds exploration acreage in the UK and Timor-Leste.

Maybe the unpalatable truth is, for a small outfit like BOIL, a project of this size and complexity is simply too big. Needed a partner right from the start. The cost is swallowing us up. Can’t believe we’re trying to fund this alone. Bigger hurdles ahead. Investors are paying the price. Simply can’t go on like this. One crisis to the next.

Fair points. They have questions to answer. Plus. There has been leaks. A lot knew about this. There has to be the mother of all news releases to win back investors. Like tomorrow.

Jarv, can they really be that cynical and dishonest? I’m trapped now, so I’ve just given up complaining. I naively think these people are better than that.

Flip flop, the worst part of this is the placing. Away from that, the company are now very well positioned to drill a huge gas filled asset. How is that possible for a minnow? The licences and the progress belong to BOIL.go back and read each RNS.