always been interest , they said so last year and the talk of jv talks
became a comment in the recent RNA message , we will re double our
efforts in the Summer
What they all say has ZERO SUBSTANCE , just like a Super Group NOT a minnow like
Baron , said , we are going to do this that and the other , The Island holds the RED CARD
Beaco (failed to find funding or interest) to any plans , other than their own.
Until they deliver a GREEN light to YES you can use other options , or stop the endless rounds
(current 4th merry go round of same old same old) of talking about Beaco and move it all
with ACTIONS (funded/finally a spade in the ground after 20 years)
The Majors they covet to return , will remain Sat on the fence as they did during the epic
failure of the twice extended , 2 1/2 year bid round.
Hence the comment , we do not want some other chancer JV with us , with a view to a killing
themselves, when it finally moves, having diluted us on the cheap from a 75% position.
That was Shells plan for Sunrise and Chuditch (to follow) back in 2001
the pipeline would go DIRECTLY SOUTH , not through the trench and
intercept/connect to the Conoco Phillips Bayu-Darwin Pipeline
Conoco themselves had customers to take all available gas/LNG to the USA
after processing at Woodside being purpose built facility at Darwin.
Posted it a while ago , probably still find the maps/pic's with a google...lol
2008 Woodside made Shells new FLNG proposal , its No1 option also , as they
agreed financials , far improved.
The Island said no to both , it will come to BEACO, so the Major's left, as you can see
from the 2 1/2 year bid round ABJECT FAILURE , they did not return , even though a
much bigger prize out there KELP 14.5 TCF , that has sat for years like Chuditch , in
its case, with neither an operator or license issued.
ENI has been supporting the Island , social program's and had some original Oil fields
since back in the 70's when Italy provided most of the UN peach keeping force , until
2nd Independence delivered, when the IMPASSE that remains started.
Until that changes , nothing will bring back the real value , they will continue to sit on the fence
we might get Santos/ENI as they have held on throughout , also hoping to do more at some
point, from INSIDE the TL area (all current future plans from outside like Barossa)
Posted it a while ago , probably still find the maps/pic's with a google...lol
75% of an asset bigger than Sunrise next door , it being valued at $0.00 on Woodside
balance sheet but $65 - $75 Billion in operation (2021 March 25th Conference) when
Gas prices much much lower, deserves a bit more value than a paltry 10 bags........GLA
Out rest of day , and gone at the weekend, some will be delighted to know lol
and they have a blank page link, ready for the results............GLA
Out the rest of the day , fingers crossed for some news and a blue rinse closing.
According to the procedure, the reports of these 6 companies are in the process of evaluation,
with the deadline for issuing the Final Evaluation Report of the pilot tests until June 15, 2022 by
the YLB EDL Monitoring and Information Commission.
Might be worth keeping an eye on the State Lithium Company , Facebook page today
after all they currently hold 100% of all in country processing rights and would be
part of any progress announcements/meetings.................GLA
Always been interest in the region , they just have not dipped their toes back
in since Shell left stranded , having held 2 of those 3 known monsters.
Bid round of 2 1/2 years and a pathetic 9 bids on 7 of 18 licenses , tells the story
of where the industry sits and waits , until the TL Gov get their **** together.....GLA
Nigeria same time frame 57 licenses OVER 1,600 bids made,, not 9
JV would be nice , with the right sort of partner , not another chancer , also looking
to move it on to a big player , when the Green Light given be that Beaco or a first
other option YES , for the Island.
It's a huge asset just like Kelp and Sunrise , the Majors left Sunrise , reputed smaller of the 3
having spent over $400 Million in development costs, moth balled since 2004 , with more
funding required to take it the final step (what ever that eventually is)
So real value will only come with the arrival of those very DEEP POCKETS..............GLA
We and the two OZ minnows got in by virtue that Western NEEDED money ASAP
to drill in time , they where under the clock, so for all parties a good deal , they
got funded , the 3 picked up a portion of a very large license in a prolific area.
What happens next , who knows, new drill pro rata , or a new deal and/or group
involved........watch this space..........lol
that drill now done and duster'd , lol , a new drill would need new funding
either via a new JV , or the consortium paying pro rata as stands , or a full
renegotiation , who's in who's out , where we could end up with a larger
or smaller %
Baron used the Shell , much bigger figures back in 2019 when we where offered Chuditch
(nepotism related BOD) immediately it was awarded to SundaGas (services rendered) on
the Island since 2016 and helped set up Timor Gap/ANPM Etc , the islands own industry.
We failed to raise the money ,,,,,,,,,,history well known , as said the Industry know what's
sitting in the TL Maritime Area and have done since the 1970's, won't be a knock on the
door , it will have the hinges taken off in the stampede, IF GOV give a real GREEN LIGHT
everyone has known its much bigger than baron snail pace catch up since day 1
the interest has to be there for the TL portion of the otherwise , exploited and prolific
Timor Sea (Indonesia and OZ sides) since the mid 70's
The stumbling block to value is and always has been the Islands politicians and without
them pulling their fingers our , we could say its 20 tcf and it would make no difference
stranded valued at $0.00c gas , is still worth zip, without a funder for the build , or a YES
for the first time in their history , to anything else...........GLA
Kelp sits at 14.5 TCF in Timor Leste waters , with neither an operator or a license issued
for many years...............
Monsters to be found BUT the industry , will continue to sit on the fence , until real PROGRESS
from Horta/Gusmao et al.................
lots of seismic already spoiler alert , Chuditch on all of them and Shell stated from
their OWN seismic , problems due to vibrations of the timor trench BUT they suspect
the CH1 drill area (east side of license) all linked an would be 10 TCF+ vice their now
provisional 5 tcf+ , with more upside to the South West (not part of barons snail
paced re run of the 2012 seismic) with more leads thought to be either Oil or more
likely large Condensate reservoirs
Woodside did their entire 3,200 sq km of Sunrise 3d 2 years ago in a FEW HOURS
of a SINGLE DAY (amazon computer support - available to the industry)
We where getting the seismic soon in 2020 and have had push backs ever since
snail paced for a reason , for IMPACT , when something else in place.
TGS did the entire 50,000 sq km all on and offshore TL back in summer of 2020
with their new 2d cubed , combining all historic 2d/3d and presenting like 3d
that included the entire 9021 sq km of Kyranis 3d , not just a bit around the ch1
The big boys , if interested , could purchase directly from TGS for a long time , likewise
that 50,000 sq km , available to all potential bidders , in the bid round via a data room
set up by ANPM and Zebra (something) a London firm...............
If the Island ever get their **** together , everyone will want in , currently they
are sitting on the fence , as they have for years, due to NO MONETISATION path
permitted , Shell had both Darwin pipeline and FLNG , given a bit fat NO
we want Beaco .............
has acquired a 10% interest in the high-impact multi-TCF (Trillion Cubic Feet) Sasanof exploration
prospect (located mainly within Exploration Permit WA-519-P) through the acquisition of a 10%
interest in Western Gas (519 P) Pty Ltd ("WG519P"), which wholly owns the prospect (the "Acquisition");
We bought into the license , thus paying Western to be able to comply with its requirement to drill by
(Hess condition) so a scratch the back , they got money to get the drill done in time , we got 10% of
a large scale license, not just participation in the Sass-1 drill......
as always , it depends WHO knocks on the door, many of the worlds leading companies
have already announced , massive profits from 2021, like EXXON , in excess of $25 BILLION
and they stated , it was mostly from the last 5 months of the year, also stated they now
EXPECT , 2022 and 2023 PROFITS , to be well in EXCESS of 2021 figures
Exxon , stated they plan aggressive use of this windfall period , to acquire new assets and
projects, in particular, blue and green gas projects and to further develop their own Carbon
Several other US Majors/Tier1 companies have made similar statements , as have Shell and
other internationals..........DEEP POCKETS.........hungry and on the prowl, can only be good
for anyone that can provide , the large scale assets they are looking for.............GLA
at an estimated cost of circa US$20 million (of which Clontarf is funding US$4 million), which
is fully funded.
In the event that the costs for the Sasanof-1 Well overrun, Clontarf will be responsible for 20%
of a further $5 million. Thereafter costs will paid for on a pro-rata basis
9th May RNA message sitting on the rns news wire...........
the conference , so what we have (sundagas ) co hosted 2 of the 4 so far
and presented at all of them, including last years 1500 registrations , that
included 270 companies,,,,,,,,,,,,,,,, result 9 bids in the bid round , worst in
Gov and a firm decision , the only thing that will unlock TRUE value here
shut up and build it , or let the industry , do what could have been done
for the past 20+ years...........all in their hands and actions , no one else
September 2021 , TL Gov announce , CHUDITCH , sunrise 8.5 tcf and Kelp 14.5 tcf ALL
to be used to feed Beaco on commission , via a regional pipeline HUB to be located
at Sunrise, new studies in motion................
Those studies now due , until they say it's not happening , like shell before us , we can
say what ever , it means nothing , as it did to shell , when the Island say , NO , you can
wait for Beaco...............