Member Info for filthylucre

Thanks Meadow. Very interesting.

OK. thinking if this was a possible Chuditch partner, why monkey around with sharing elements of the work now and not just sign a comprehensive deal.

Share price needs that extra bit of information. There’s almost a lack of belief out there that Sundagas can actually drill Chuditch and sit on a huge bonanza of gas. Share price indicates no progress nor any down the line which is ignoring what’s actually happening.

Doug, you’re reading a lot into this. TBH, I don’t fully understand your post but it’s very interesting.

Surely operational synergies is exactly what it says on the tin. Two companies saving a lot of money via shared equipment/facilities and sub contracting tasks common to both their operations. If Yeo has skilfully negotiated joint working agreements which negates the need for dilution, then he should be carried shoulder high by investors. Not the same as a joint venture but pretty handy. The glass is half full or half empty. We’ll find out soon enough.

I’m not sure. This work plus much else will cost millions. However, if dilution is ruled out, then the share price should rise significantly. A lot of very strange trading patterns since the collapse in the share price. I’ve given up guessing. None of it makes any sense.

Would have been nice if the RNS had contained something like, Baron Oil has sufficient funds to carry out all environmental and preparatory drill work.

Thanks Meadow. Be very surprised if you get a figure. The RNS feels very incomplete. Lacking in the specifics for some reason. It could be argued the survey is a mini joint venture in itself. Like to see this on a grander scale. I’m not going to bash Yeo. This work is necessary and we on schedule to drill. Let’s be honest, we haven’t the capability to go it alone. Financially or otherwise. We need a very rich benefactor. We need a partner.

I suppose the question is, how much is the site survey going to cost? Excellent that they are saving money but offshore work will be expensive. This is before rig mobilisation and all the rest. The threat of dilution is weighing heavily on the share price. Is dilution inevitable? It’s actually a very positive update but we are here for the share price. Nothing else.

Meadow, what you say regarding the sum of money required for drilling and what any placing would actually raise is true and hopefully a good reason for it not to happen. That off course is offset by the temptation to bolster the war chest in an easy fashion with operational requirements the excuse.

Meadow, TL have already given their answer, pulling the country apart and risking social cohesion as they build an LNG based gas industry. They’re not waiting for Woodside. They are pushing ahead. Greater Sunrise will happen. Woodside or not. Fantastic for Chuditch which will play its part.

Better translation

Prepare a venue for the socialisation activities of the nine government programmes in relation to the development of the sea project to be carried out in BETANO / MANUFAHI tomorrow 12 February 2024.

Meanwhile work pushes on to prepare for a major gas industry. No going back now.

Secretary of State for the Municipality of Manufahi and the PNTL Municipality of Manufai to coordinate the activities of the Ministry of Petroleum and Socialization for the Socialization of the Plan and Program of the Constitutional Government for the Development of the Project for the Development of the Management of the Municipality of Manufahi which will be carried out in the 12th of February 2024 at BETANO Manufahi

[Timor GAP want to establish an LNG terminal in the country. It will convert its light fuel oil power plants, the Hera and Betano to run on natural gas. Betano is an oil power station located northeast of Betano, in the Manufahi District of East Timor. It was built to supply the South coast of East Timor with electricity]

Dough, TL may be very poor but they seem to have built layers of bureaucracy and officialdom equivalent to any western state. Quite impressive actually. More departments than you shake a stick at. I expect environmental permits will go through many channels before granting. However Sundagas will have done their homework and don’t see a hold up. Don’t see any corrupt rubber stamping either.

Jarv, that’s very well spotted re the previous spike. Very concerning. Not inevitable by any means but I’m beginning to fear the worst. Investors deserve better. Let’s hope Timor Gap’s greater involvement can help find a more reasonable solution to funding. What has happened the talks with other parties? Real or not.

Perth 10 February - Indian Ocean Conference

This morning HE Bendito Freitas, Minister of Foreign Affairs and Co-Operation held bilateral meeting with The Hon Minister Penny Wong, Minister of Foreign Affairs.

“The relationship between Timor-Leste and Australia is important and remains strong.

Our nations are closely connected. We have a shared history, and we share the common values of democracy, support for human rights and international law”, HE Bendito Freitas, Minister of Foreign Affairs and Co-Operation

🇹🇱🇦🇺🇹🇱🇦🇺

I’ll take the 0.3p

Absolutely. I know Yeo and Butler are working their socks off to make this happen. We seem to have gone from highly tipped minnow to most hated share almost overnight. Totally disorientating and incomprehensible to many of us. Feeling a little punch drunk. Some stability would be welcome.

Interesting week and a totally bizarre trading day.

Share price frozen in the midst of a lot of trades. Don’t understand the selling frenzy at this rock bottom price either.

Possibly this has been posted. Sorry if it has. One wonders if this is what triggered Charles Arthur’s crystal ball.

Woodside may hunt for acquisitions as Santos deal falls through.

Woodside Energy could look more aggressively towards acquisition opportunities overseas after talks on a merger with domestic rival Santos were scrapped and as it seeks to tap opportunities in the global LNG sector.

https://www.afr.com/companies/energy/woodside-may-hunt-acquisitions-post-merger-talks-20240208-p5f3fl?fbclid=IwAR0CSv7hrBW1Ke8YW2LcygXYD4r7gl6keszK4ApJtf8rtyq_-dvaf57gBI4_aem_AZElyLNH00jxaip7J3FyzkxUyET14aT_5CJTcBXUgpjJIAHurUhRg8AeXLSsHX6-8A4

Cheers, think I got most of that. Certainly the government have bet the house on Oil and Gas. Bottom line, whole villages and towns are being raised to the ground to build this petrochemical industry. Communities displaced. Social unrest is a real worry. Need to get this right. I read the Chinese built a highway. Two years overdue which now continually floods. Belt and Braces Initiative.

Anyway. I hope BOIL will be using that helicopter platform from the new Beaco Airport soon.

GemCorp looking after the refinery.

During a presentation on the IX Government's Constitutional Program for the development of the South Coast in Covalima, His Excellency Minister Monteiro also explained the relocation of the Liquefied Natural Gas (LNG) plant from Beaço to Natarbora and the refinery and petrochemical plant from Betano to Natarbora, due to adaptations required by the industry and national economy needs.

His Excellency Minister Monteiro stated that instructions had been given to TIMOR GAP E.P., to collaborate with ANP I.P., the Timor-Leste Air Navigation Administration Authority - ANATL E.P., and the company Santos, to use Suai Airport for helicopter movements to the Bayu Undan platform, Greater Sunrise, and future sites.

During the presentation, attended by over five hundred citizens and local authorities, concerns were raised about the relocation of the LNG plant, petrochemical industry and refinery, compensation for families and land affected by the Tasi-Mane Project, creation of new residential areas for the community, and the benefits of the Tasi Mane project.

The PNTL Commander of Covalima, Police Superintendent Calistro Gonzaga, appealed to the community to ensure stability and offer their properties to the state to guarantee the implementation of the Suai Supply Base project, supporting economic development.

This is more VT’s area of expertise. It’s good to see they are pushing ahead with the work. But one wonders , how long is this going to take? Will the Chinese continue to stump up the cash? Dangers of social unrest if Greater Sunrise is pulled. It has to happen.

𝗠𝗣𝗥𝗠 𝗮𝗻𝗱 𝗩𝗲𝘁𝗲𝗿𝗮𝗻𝘀 𝗗𝗶𝘀𝗰𝘂𝘀𝘀 𝗧𝗮𝘀𝗶 𝗠𝗮𝗻𝗲 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁

𝗖𝗼𝘃𝗮𝗹𝗶𝗺𝗮 - 𝗧𝗵𝘂𝗿𝘀𝗱𝗮𝘆, 𝗙𝗲𝗯𝗿𝘂𝗮𝗿𝘆 𝟴, 𝟮𝟬𝟮𝟰

Veterans in Covalima welcomed His Excellency the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, to the village of Kamanasa, Suai Administrative Post, to discuss the ongoing development of the South Coast.

His Excellency Minister Monteiro, who previously served as the President of TIMOR GAP E.P, is well-acquainted with the veterans in Covalima for their strong support in implementing projects such as the Suai Airport, Highway, compensation for citizens and land affected by the Suai Supply Base, and other initiatives.

He also emphasized the importance of continuing the South Coast project due to its critical role in creating jobs and other economic activities that will drive economic development in Covalima and Timor-Leste.

https://m.facebook.com/story.php?story_fbid=pfbid0tfUxHmQYUzKgR183iyFinuR9ztov7wckEC5EzaSriditCotMT2rbmjo4LZx9QBGhl&id=100094730889338