Member Info for filthylucre

Ralladaw, a very confusing post. “Clearly unless your waiting till late 2024, waiting for buyout or stuck at 1p or higher this is just a trading stock.” Stuck at 1p or higher sounds a pretty decent prospect. Why stuck?

“If JV comes then 0.20p-0.30p is possible, then what? It will just keep going up and down 0.7p-0.30p till drilling date late 2024.” I assume you mean 0.07p to 0.3p?

Stocks go up and down. No big deal. Late 2024 is nothing time wise in terms of what’s on offer. Big movements in share price often come well before drilling. A joint venture will send this extremely high with the potential for much more. Trading is always an option or wishing to hold for more. That’s how it works. The company is building towards a very big project goal. Huge. Gargantuan in terms of financial gain. That’s a pretty good reason to buy. It won’t happen overnight or in one RNS. Better to try horse racing or the lottery if share price fluctuations puts you off.

Excellent little nugget there from X. Recruitment underway. It will off course cost money.

With Passiton taking a break, it’s up to the rest of us to keep the conversation going. There will be periods of seemingly nothing which might drag but hopefully plenty going on behind the scenes. The success or otherwise of BOIL will happen long before any exploration is underway.

Budget planning for Greater Sunrise future development

𝐌𝐏𝐑𝐌 𝐇𝐎𝐋𝐃𝐒 𝐀𝐔𝐃𝐈𝐄𝐍𝐂𝐄 𝐖𝐈𝐓𝐇 𝐍𝐀𝐓𝐈𝐎𝐍𝐀𝐋 𝐏𝐀𝐑𝐋𝐈𝐀𝐌𝐄𝐍𝐓 𝐎𝐍 𝐈𝐍𝐒𝐓𝐈𝐓𝐔𝐓𝐈𝐎𝐍𝐒 𝐔𝐍𝐃𝐄𝐑 𝐓𝐇𝐄 𝐌𝐈𝐍𝐈𝐒𝐓𝐑𝐘

𝐃𝐢́𝐥𝐢, 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟑𝟎, 𝟐𝟎𝟐𝟑

His Excellency, the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, along with the Presidents of Institutions under the Ministry, institutions such as TIMOR GAP E.P., Murak Rai E.P., the National Petroleum Authority - ANP I.P., the Geosciences Institute of Timor-Leste - IGTL I.P., and the National Minerals Authority - ANM I.P., conducted a public hearing with the Parliamentary Commission on Public Finance and the Commission for Economy and Development.

During the hearing, His Excellency Minister Monteiro presented the progress of the 2023 National State Budget execution, the budget plan for 2024, and priority programs such as the development of the Greater Sunrise Gas field, ensuring a gas pipeline to Timor-Leste, developing infrastructure to support the Tasi Mane project, and the exploration and development of potential blocks in petroleum exploration both Onshore and Offshore.

His Excellency the Minister informed the Members of Parliament that by mid-2024, a "single select concept" decision should be made for the development of Greater Sunrise, projecting towards the construction of the Liquid Natural Gas Plant – LNG, refinery, and petrochemicals by the end of 2026 or the beginning of 2027.

"The negotiations to bring the Greater Sunrise Field to Timor-Leste is our number one program, not only for the ministry but also for the institutions under the Ministry.

Members of Parliament requested current information in the petroleum and minerals sector and urged the government and institutions under the Ministry to continue investing in human capital development, aiming to actively involve Timorese in the South Coast projects.

"We are also pleased to hear that, before 2027, the Supply Base development on the South Coast can be operationalized. This dream is not only of the Government, Members of Parliament, but also of the people of this nation.

To implement programs in the petroleum and minerals sector, aimed at assisting the nation's economy, the executives seeks the support of the National Parliament, which has the authority to approve programs and budgets.

https://m.facebook.com/story.php?story_fbid=pfbid0DaTe19ma9XRFbMHE91XKHPutPTgY26ZVR7y74hDaiCGpLzSHNfAAGWUkDcucWvRNl&id=100094730889338

OK. I concede defeat. The island of Timor Leste it is.

Today may not have been much in terms of sp action but it’s a major step forward. Tiny company on route to drill huge offshore gas field. A few hurdles to jump but the optics look really good with the “island” desperate to make this happen. Personally I’d be happy if a major Chinese company paid a substantial sum of money to take all or part of the Sundagas holding. Plenty of international investors watching this.

Come to the meat processing factories in N Ireland and meet the local Timorese. Friendly and hard working. Wrap up well.

I live in Northern Ireland. Never once described as an island. Nor is it.

It definitely is coming home.

Remember the Chuditch Gas Field is a key strategic Asset for Timor-Leste.

Oh. Timor Leste. That land locked country. It’s not an island. Stop calling it an island.

How about it’s complicated? Hasn’t been concluded. Discussions ongoing and technical matters surrounding gas to market still to be resolved. Yeo is quite rightly taking this one step at a time and appears to be getting support from the other actors particularly the TL government. He’s doing a great job and it’s very exciting.

We couldn’t have asked for more. Excellent update. So much riding on this for Timor Leste and so many potential backers. TL government have been brilliantly proactive this last year in attracting investment. I expect this will kick start a lot of interest and a lot of follow up announcements in the coming weeks and months. Fits in beautifully with large scale carbon capture project in TL. Sundagas and BOIL haven’t put a foot wrong.

Great to see things moving. The project is on target keeping alive the very real prospect of a partnership or complete company buyout. Let’s hope behind the scenes serious discussions are coming to a successful conclusion.

BACKGROUND

SundaGas Banda Unipessoal Lda (SundaGas) is a Timor-Leste oil and gas company located in Dili with its parent Company, Baron Oil Plc, being based in the United Kingdom and listed on the AIM market of the London Stock Exchange. SundaGas operates the offshore Production Sharing Contract TL-SO-19-16 in partnership with TIMOR GAP. The Production Sharing Contract area includes the Chuditch gas field, discovered in 1998.

SundaGas anticipates a campaign of offshore drilling operations, commencing in Q4 2024. The company plans to appraise the Chuditch field and to conduct a production flow test to confirm the commercial viability of potential future gas production.

Recognising the requirements under Offshore Petroleum Operations in Timor-Leste / Decree-Law No. 32/2016 / Article 159 & 160, SundaGas is seeking Expressions of Interest from reputable, capable experienced service providers for the provision of drilling and other support services as detailed below.

This request for Expressions of Interest does not constitute a commitment, implied or otherwise, that SundaGas will proceed to further contracting any of the scope of services outlined below.

FIELD AND LOCATION OVERVIEW

The proposed Chuditch-2 well will be located in the Timor Sea, approximately 80 km south of the Greater Sunrise gas field and 140km east-northeast of the Bayu Undan production facilities (see map). It is expected to be drilled in 60m water depths and to a target depth of around 3000m

Http://www.anpm.tl/expression-of-interest-drilling-services-sundagas/?

SundaGas is seeking Expressions of Interest from reputable, capable experienced service providers for the provision of drilling and other support services as detailed below.

fbclid=IwAR2wtoq_VCk62vYcaRix1V45hcTK-jnJYBtqVjQswoAGapuyIsuxSrD1XTo_aem_AbmyeHCNf8SgMuDmM98UMtWRlxhBrYmW_o4w4NFCvcMwSUREyMGtFktmxT87YZkfcjI

The UAE government delegation has successfully concluded its diplomatic mission in Timor-Leste. We engaged in fruitful discussions with Vice-Prime Minister, His Excellency Francisco Kalbuadi Lay, and key ministers of the Government of Timor-Leste. Their keen interest in collaboration with the UAE is commendable. We are eager to extend our expertise globally. Special acknowledgment to H.E. Abdullah Salem Al Dhaheri, UAE Ambassador in Jakarta and to ASEAN, for his instrumental role in enhancing our relations within the ASEAN region.

Tariq Alsuwaidi

Senior Economic

Affairs Specialist

https://www.linkedin.com/posts/tariq-alsuwaidi-55a838a0_the-uae-government-delegation-has-successfully-activity-7135141585771507712-4OVx?utm_source=share&utm_medium=member_ios

The One Belt One Road South East Asian NGOs Alliance (OBORSEANA) is dedicated in providing the platform for Small and Medium Enterprises (SMEs) in SEA nations and China to facilitate trade as well as maintain a good working relationship.

The Alliance would also be the main liaison in trade negotiations between SEA nations and the One Belt One Road Initiative.

Below a number of their posts on LINKEDIN

3days ago

Exciting week in Timor-Leste! Our Philippines President had had the pleasure of meeting with a fantastic Malaysian business entourage to discuss potential collaborations and opportunities.

Looking forward to building bridges and fostering new partnerships that will benefit all participating nations. Stay tuned for more updates!

2 weeks ago

We had the incredible opportunity to meet with some key figures in Timo-Leste recently - the Ambassador, Director General of the Labor Board, and the Secretary of State for Vocational Training and Employment. 🤝We discussed groundbreaking projects that promise to bring significant Foreign Direct Investment (FDI) into Timor-Leste. This is not just about business growth; it's about creating opportunities and a brighter future for our community.

Stay tuned as we embark on this journey to make a real difference in Timor-Leste. Together, we're building a stronger, more prosperous future!

1 month ago

Hosted a fantastic group of 40 potential investors from Malaysia, Hong Kong, and China, each representing diverse industries. They're all eager to support Timor-Leste's journey into the ASEAN and RCEP community!

A reminder Sundagas continue to educate future generations in the petroleum industry. Just prior to the drilling announcement.

Dear SPE Timor-Leste Student Chapter/ SPE membership, distinguished Lecturers from the four universities (UNTL, UNITAL, UNDIL and DIT), to inform everyone that SPE Timor-Leste will be holding a Technical Meeting on December 14th, 2023, at UNTL Hera. Sunda Gas Company will be the Speaker at this TM, to share their knowledge and skills with us students in connection to the Mining and Gas Industry. CEO Sunda Gas, Mr. Andy Butler, and Technical Manager Sr. Dino Gandara will also speak. Therefore, we ask that all SPE members come together with their lecturers to collaborate with us and participate to the maximum in the Technical Meeting. Take advantage of this brilliant opportunity to create a good line with Sunda Gas Company.

On November 24, 2023, Assistant Foreign Minister Nong Rong met with new Ambassador of Timor-Leste to China, Mr. Loro Horta.

Nong Rong welcomed Loro Horta’s arrival as new Timor-Leste Ambassador to China and said that President Xi Jinping and Prime Minister Xanana jointly announced in September this year to elevate China-Timor-Leste relations to a comprehensive strategic partnership, opening a new chapter for bilateral relations. China is willing to work with Timor-Leste to implement the important consensus reached by the leaders of the two countries, deepen strategic mutual trust and practical cooperation, and promote the deepening and solidification of the comprehensive strategic partnership between the two countries.

Loro Horta said that China’s development has brought important opportunities to the world, and cooperation between Timor-Leste and China lead to broad prospect. Timor-Leste attaches great importance to developing relations with China and is willing to take the establishment of comprehensive strategic partnership as an opportunity to further expand exchanges and cooperation between the two countries in various fields and promote new progress in bilateral relations.

Good to see a sizeable Chinese delegation attending the business forum.

On November 23, Ambassador Wang Wenli attended Timor-Leste International Business Forum 2023, with the theme of “Discovering Blue and Green Opportunities for Sustainable Investment”. The Forum is under the direct supervision of the office of Deputy Prime Minister, Coordinating Minister for Economic Affairs and Minister for Tourism and Environment. Prime Minister of Timor-Leste H.E. Mr. Xanana, President of the National Parliament H.E. Ms. Maria Fernanda Lay and Ministers of 9th Constitutional Government participated in the Forum. Entrepreneur representatives from all over China participate in the Forum and have constructive discussions on a variety of topics.

𝐓𝐢𝐦𝐨𝐫-𝐋𝐞𝐬𝐭𝐞’𝐬 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐅𝐨𝐫𝐮𝐦 𝟐𝟎𝟐𝟑

𝐃𝐈𝐋𝐈, 𝟐𝟑 𝐍𝐎𝐕𝐄𝐌𝐁𝐄𝐑 𝟐𝟎𝟐𝟑-

Timor-Leste's International Business Forum with the theme of Discovering Blue and green Opportunities for Sustainable Investment to demonstrate Timor-Leste's potential for international investors interested in investing in potential sectors in Timor-Leste.

The Business Forum officially opened by the Prime Minister of the Constitutional Government, H.E. Mr. Kay Rala Xanana Gusmao, with a participation of H.E. President of National Parliament, H.E. Ms. Fernanda Lay and member of parliaments, member of ID Constitutional Government, Diplomatic Corps, international businesses from Australia, South Korea, Cambodia, Malaysia, Indonesia, China (Hongkong and Macau), Singapore, the UK, Japan, USA, EU and Thailand, national businesses and Development Partners with estimated total participant around 700 people.

Someone was asking about the Woodside and the PSC.

In parallel to the concept select program, the Sunrise JV is progressing the negotiation of the new production sharing contract, petroleum mining code, and associated agreements with the Timor-Leste and Australian governments, which upon finalization will provide the fiscal and regulatory certainty required for a development to proceed, Woodside previously said.

https://lngprime.com/contracts-and-tenders/woodside-gets-ok-from-east-timor-to-start-work-on-sunrise-concept-study/98369/?fbclid=IwAR0USuzUw5HmW6W1lTPB7brHG5oMf0dEZcK0OYytqpVRDXLMuGDG0ZyJF1w_aem_ASFsSaxq0KpywzWhb-x8r8A8Tit8KLrRbjhMAuFcj3opd8n91DHrPUzULKP6AIE0NZI

Finalise technical discussions June 2024

GOVERNMENT OF TIMOR-LESTE DISCUSSES GREATER SUNRISE PROJECT WITH WOODSIDE CEO Segunda-Feira, 20 Novembro 2023 His Excellency Prime Minister Kay Rala Xanana Gusmão, accompanied by His Excellency the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, met with Woodside CEO Mrs Meg O'Neil and her team to discuss the Greater Sunrise exploration. "Today, Prime Minister Xanana discussed the Greater Sunrise project and his clear message on how to work together to develop Greater Sunrise for the benefit of Timor-Leste," said Woodside CEO Mrs Meg O'Neil. Woodside declared its availability to work with the Timor-Leste government to reinforce the confidence between the two sides for the future of the petroleum industry in the Timor Sea. Before this, His Excellency the Head of Government and His Excellency the Minister of Petroleum and Mineral Resources have already met with Australian Government Special Representative for Negotiations and Development of Greater Sunrise, Steve Bracks, to inform that Timor-Leste and Australia will finalise technical discussions in June 2024. Australia recognizes that the Greater Sunrise project is crucial for the people and families of Timor-Leste and that the development of Greater Sunrise is promoted in a viable manner, both technically and commercially.

https://m.facebook.com/story.php?story_fbid=pfbid0fpWr4SZ95kd75Eh5vhK6UyA5zARTZ8UYAQkJVN1UfPpFAyxkxY45nxmwM9VeYnRWl&id=100094730889338