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BRUNEI DARUSALAM - President of the Republic Jose Ramos Horta said that investors from both countries are willing to invest or develop Greater Sunrise.

The President of the Republic Jose Ramos Horta spoke these words to journalists, when he ended up meeting with

He said that the pipeline to Timor-Leste before the Prime Minister Kay Rala Xanana Gusmao had been talking to Australia and has been mediating the Greater Sunrise, the maritime border is a short-term idea that PR has reached an agreement with Australia to attract the pipeline to Timor-Leste.

"The first question about whether funding for this process is drawing the pipeline from the Timor Sea to dry land is very heavy at least 10 billion dollars is estimated to be up to 18 billion but at least two large investors from China and one group from Kwait are ready to contribute with the government to develop a great sunrise and other fields," said PR Horta.

The President added that at the time the Government of Timor-Leste has reached an agreement with Australia, therefore the Government needs to confirm what the investors are saying to see what their conditions are.

The President added the government's mandate to see when the pipeline agreement came to Timor-Leste, so Timor-Leste should urgently mobilize investment, the potential being one of the two major Chinese groups and one from Kwait.

7/11/23

BRUNEI DARUSSALAM - President of the Republic (PR) Jose Ramos Horta said that investors from two nations are ready to invest or develop Greater Sunrise. President of the Republic Jose Ramos Horta made these remarks to journalists when he met with His Majesty Hassanal Bolkiah ibni Omar Ali Saifudden in Brunei Darussalam on Tuesday (07/11/2023). He said that a water race (kadoras) came from Timor-Leste before Prime Minister Kay Rala Xanana Gusmao spoke to Australia and mediated a clear understanding regarding Greater Sunrise, these maritime borders are things that the PR thinks would result in an agreement with Australia so that water races would come to Timor-Leste. "Firstly, there was a question about whether or not financing would be done towards this process, the water race from Timor's seas to dry land can cost tens of billions of dollars. There are estimates that say the amount could be up to 18 billion. However, at least two large investors are prepared to contribute together with the government to develop Great Sunrise and other fields. One group is from China and the other is from Kuwait," said PR Horta. The President stated that at the time the Timor-Leste government reached an agreement with Australia, it needed to confirm the presence of these investors in order to consider their conditions. The President noted that the government needs to consider the timeframe of the agreement to bring the water race to Timor-Leste. Therefore Timor-Leste needs to quickly mobilize investment potentials that could come from two large groups, one from China and the other from Kuwait.

I concur CDF.

The company has provided us with lots of bones. A shed load. Waiting for the flesh.

I mean all of us now know the Timor Leste economic and political arena better than our own. I could stand in their elections. The roads are in a shocking state.

Andy Butler is interacting with Santos, Woodside and Eni regularly through his SPE Timor Sundagas connections. Time to deliver a deal on chuditch.

April? I want a killer RNS tomorrow morning. Or the following day. Quite frankly the SP and the lack of forward momentum is boring me to tears.

Thanks Charlie. I wasn’t aware of that particular talk. Certainly AB is a busy man behind the scenes. I think it’s important to point out there was nothing one would consider inappropriate or price sensitive on the FB page of the individual. I was surprised to find Sundagas employing a “geoscientist” but heartened to see him giving a big thumbs up on the ambassador’s comments re Chuditch.

The London embassy FB page has a lot of followers no doubt related to those seeking a visa to come to the UK. We have a big community of Timorese here in NI working in the meat processing industry. It would collapse without them. Cold physical work very few local people want to do. They are excellent people.

4.2K lines now on the BOIL story. Maybe Chuditch is considered far more significant and important amongst TL society than we give it credit. It has to happen and soon.

It was a good week. We were reminded , once again, if needed, that this share is like a taut elastic band ready to fire at the first sign of good news. A Facebook post, some speculation and it rises 30%. Hang on to your hats when some real news break.

Speaking of FB posts, I did some snooping around the embassy post. The one with close to 4K likes. Of those liking the post, I found one individual who reposted the Ambassador’s words complete with a raised fist emoji. It turns out he’s an engineer working for Sundagas. I had a little stroll through his FB page. First impressions were one of encouragement to see Andy Butler front and centre of so much activity in Dilli with government officials discussing Chuditch, conference talks, Seapex work etc. As Pass has often commented, he’s a popular and respected figure in the TL community.

A photograph of one particular conference showed a presentation talk given by Andy Butler entitled;

All that Chuditch Gas. Where did it come from, where will it go?

Sounds interesting. Is it on the BOIL website?

As many have pointed out on here, the promotion of a mega gas asset in Chuditch just isn’t cutting the mustard and falling on deaf ears. BOIL is on the cusp of greatness yet we can’t even get out of the starting blocks. It could all end in tears. Never a certainty but currently a very good bet.

Incidentally, the Facebook post on Boil’s Embassy visit is now heading towards 4,000 likes. Which is totally bizarre. Clearly Chuditch and it’s development has galvanised the entire Timor: Indonesian region.

Smiley face.

This is an excellent article (far left publication) on Greater Sunrise which includes a few new (for me) TL statements regarding Greater Sunrise.

Sounds like possibly an agreement behind the scenes is in place. Certainly been a complete silence in recent weeks coming from all sides. Interesting times.

In September last year, Ramos-Horta visited Australia and publicly warned that Chinese companies had expressed interest in Greater Sunrise and were willing to step in if Australia refused to go along with Dili’s plan.

The Timorese president earlier this month declared that there was “a much better climate between us and Australia” on the oil and gas issue, adding: “I don’t enter into details because this is up to Prime Minister Gusmão and Anthony Albanese, but we are going to find, very soon, early next year, a solution for the development of Greater Sunrise.”

https://www.wsws.org/en/articles/2023/10/31/jgje-o31.html

I am a little confused. This is Boil’s presentation from October 11th in relation to their well location RNS. On their website. What am I missing?

Pass, you’re correct that all this stuff is continually discussed and churned across this BB. But coming from a financial journalist with, let’s face it, a much wider reach than anything written on here, this is heartening. He really believes this could be a huge winner and he doesn’t hold back. We could use it.

Rise, great post.

I urge everyone to read this article by Archer ( sorry, Pass, I disagree). Not sure about a November decision, ( he’s wrong, I think) and a few darn right eccentric suppositions about the embassy meeting , but generally very bullish with compelling arguments to back it up.

Boil is reaching a turning point.

Thanks Pass. We need an update. The Ambassador heard an update and he thought things were just “wonderful”. It very much suggests forward momentum on Chuditch. No matter how much Boil want to play it down. Cat truly out of bag.

Boil be aware. If there’s anything out there. We will find it and post it.

Together we stand!

IMF, World Bank, Saudi Fund, Bank of New York

Begging bowl is truly out.

From the IMF/World Bank Annual Meetings October 2023. Timor-Leste Delegation met with Federal Reserve Bank of New York on strengthening relationship and share views on how to avoid unintended consequences in managing and withdrawing funds from Timor-Leste Petroleum Fund, with Word Bank Asia Pacific Director and Executive Director on refreshing relationship and cooperation given the change of political landscape, including change of government, Saudi Fund for Development on their interest to support development in Timor-Leste, and attended IMF Conference on global economic and development in an uncertain world. In addition, the delegation also met with long time friends including the current Central Bank Governor of South Korea.

https://m.facebook.com/story.php?story_fbid=pfbid0359j3cMwmFNZifMvJfpvARWLPjVCPCmsmGrP8Ve6Q8WhUEYNkhz2f3k8euMCLFUHXl&id=100002257988385

Nearly 800 likes on the Timor Embassy post regarding BOIL. Mostly young Indonesians and Timorese. Seems strange. I often wonder if BOIL has a lot of investors from the TL region. Just a thought.

Pass, I think he was trying to say tens of billions of dollars, but let’s not split hairs. Anyway, the FB post was shared by a a TL government minister. Also BOIL put the same message on LinkedIn. Interestingly, liked by Joan Yu (partner and head of capital markets at Armstrong Teasdale) and Cameron Sutton, solicitor at Armstrong Teasdale.

TBH, BOIL may have been reacting to what first appeared here and then felt compelled to follow suit. Otherwise we may never have heard about it. But why not just post the FB link? Nothing controversial, nothing to hide. Just an enthusiastic and upbeat ambassador.

Love the way Boil’s official twitter site emasculates the Facebook enthusiasm posted by the TL ambassador. I prefer the 10’s of billions of dollar version.

The embassy post was liked by government Minister of Foreign Affairs and Cooperation, Benito Freitas.

Nice to see.

Good point. Maybe loose language, maybe something more tangible. A curious comment nonetheless.

Possibly. financing/ partnership in the bag?

Https://m.facebook.com/story.php?story_fbid=pfbid0oVKKUZKUfK61bn9CteSvfx8Fk2Ko1N8zBYmsK6X4rbV32er3suZnxsFBpLHBepNdl&id=100095158414540