focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
What we have going is a tight relationship with the Island itself
by we I mean Sundagas , not Baron....
Sundagas arrived on the Island in 2016, helped set up the Islands industry
T/Gap ANPM, training , presentations and co-sponsors of the first two , Oil
and Gas Conferences.
Sundagas , showcased and rewarded with Chuditch out of the blue, probably
for services rendered to the Island and with it came the Island launch of its
bid round November 2019.........
Sundagas doing all the local work and their plan is FPSO, our partner Timor Gap NOC
and ANPM, curiously did not publish their 2021 Annual reports, until after we made our
announcement.
The report directly states, SundaGas and its progress being made at Chuditch, which would
suggest, the Island ARE onboard with SG's plans........
The Island last week DROPPED
The 3 majors had Sunrise, the Islands holding at the time was 0%
the two main players now, Horta and Gusmao, were President when
they proposed taking it to Darwin in 2001 for production commencing
2003 at a being built (and was) facility owned by Woodside, the pipe
line would run directly south to meet the Bayu line, built by Conoco
as was the Bayu line. They said NO
2004 Sunrise to care and Maint, Majors having spent over $400m on it.
2008 Shell then proposed using FLNG Super-Barges , it had invented and
being built in South Korea, 26/28 wellheads to each. They said NO
Shell and Conoco , said right we are leaving........finally did in 2018/19 when
the Gov loaned Timor Gap NOC money for the wealth fund, to buy them out
on the cheap, given what they had spent.
Somewhere in that madness, Mobil had also left , it discovered Kelp Deep 14 TCF
which sits idle with neither operator or license..........
This is why its all taking so long, deep seated mistrust , that the Islands will follow
through with a YES you can......
Horta came back to power earlier this year and the first thing he did was put his lifelong
best bud , Gusmao back in charge of project Tase Mane which he invented.
All along the South Coast, on the left Bettano Oil refinery , in between Suai support port
and on the right Beaco Gas/lng Export facility fed from pipeline HUB at Sunrise.
The Islands Domestic supply would be also from Beaco , with a smaller single string
Gas/lng Import facility (no longer the case new site near capital - North Coast)
Gusmao, when PM , declared it a decree law , they are all our resources and they will all
come to the Island.
In September 2021, new studies for Beaco and pipeline hub initiated, stated CHUDITCH
sunrise and kelp would have coordinated development to feed Beaco on commission,
from the HUB at sunrise, while our crew where talking FLNG (again mixed messages)
So much bigger companies than our little minnow were thwarted, hence the mistrust
and sitting on the fence. (see next post the pro's for us)
:))
As posted earlier, many will have viewed both the Islands and our data room's
the winners in the bid round , were supposed to have singed off their PSC's by
June , none have, now tabled for completion, by end of 2022 - Feb 2023.
Still think, there will be a Yukon style rush, once the Sunrise PSC is finalised.
Mediator in place and both sides have said for a long time, they want the PSC
sorted by the end of 2022, more recent press, including a Reuters article just
a few weeks ago, ref'd by the end of November............GLA
:)))))))))))
That PSC news, could land anytime, as could mediation and further progress under
the OZ PM initiated Timor Leste - OZ Gas/LNG Cooperation development fund.......
Set up by the previous Government but funding increased shortly after Labour PM
came to power......
Charlie
the Islands own data room with the entire on/offshore 50,000 sq km
was supposed to be available around October 2020 , when TGS had
completed the 2D Cubed survey that included the entire 9000 sq km
of Kyranis 3D.........GLA
;))
The new tech 2D/c presents like 3D
Amen to that Benny , 5 little words each of 3 little letters
GAS , LNG
YES , YOU CAN................
The Russian invasion of Ukraine and the subsequent surge in energy prices amid fears over the loss
of Russian exports of natural gas, LNG, crude oil and coal has provided Australia's LNG exporters with
windfall revenues.
https://www.reuters.com/business/energy/australias-lng-exporters-have-no-win-domestic-dilemma-russell-2022-11-22/
As per previous post, Shell , Conoco and Santos , the big 3
coining in that windfall..........
Santos , now with NYSE ENI JV MOU in place, to acquire more assets in THE TIMOR SEA
Shell and Conoco , originally majority holders of Sunrise
Conoco - original Bayu and built pipeline Bayu-Darwin
Shell - Chuditch
Now there are 4 big names to conjure with, for an impressive offer for Chuditch
from the windfall's slush fund..........
Bookies favourite , Santos and ENI , who never left, Santos with Barossa in limbo,
could have Chuditch in mind , as a replacement HUB, for the now fully approved
and funded, for the pipeline 2 duplication project. ( $300m)
Brings Barossa back to production, the new input line HUB Chuditch - Darwin vice the
original plan Barossa - Darwin, with current pipe Darwin-Bayu becoming an output
for waste/carbon capture storage at Bayu.
That would leave Santos, with a new tie-in to the Chuditch HUB from Barossa, which
is in OZ waters to the East of us, which would bypass the courst ban, to go through
Tiwi Islands waters
On the map below, the large Island group just North offshore Darwin ............GLA
https://wp-baronoilplc-2020.s3.eu-west-2.amazonaws.com/media/2022/06/Timor-Leste-Regional-Map-1024x769.png
:)))))))))))
Far from moving to cap gas prices, or even offer household rebates, government ministers insisted
that relief would be provided by a new “heads of agreement” with three of the country’s major LNG
exporters, Santos’s GLNG plant, the ConocoPhillips-led APLNG group and Shell’s QGC, which control
more than 90 percent of gas reserves in Australia’s eastern states.
https://www.wsws.org/en/articles/2022/11/22/lsae-n22.html
but it was not the one you are looking at.........lol
:))
Long been in my bottom drawer Shouston.....lol
you know how I like my freebie builds over
5-15 years..........and yes took some but not from
crtm....mine getting near m8.......more to go
;))
over 100% on AJAX, or as you posted cleaned up.....sliced some capital
back out.........GLA
Tick, Tock , UFO , played right by the BOD, could be out of this world
Re 15:03 post TGS seismic long available........2D Cubed was done
June 2020, with first deliverables October 2020 and on homepage
was long ago advertised as available from them (at a price) or via
the ANPM data room for bidders
Timor-Leste 2Dcubed
In collaboration with the ANPM, and supported by industry TGS has completed a 2Dcubed seismic
data project covering offshore Timor-Leste. The project combines all available open file and applicable
TGS multi-client data across an area of over 50,000 square kilometers, incorporating over 2,500 2D lines
and all existing 3Ds within the project area.
The data, from over 45 legacy vintages, covers the entire offshore area south of Timor-Leste where
the 11 offshore blocks in the second license round are located.
Those senior players would not have waited, they would have bought and reviewed long ago
(as said BPC , shell paid £1.5 million for due dil and walked away)
All the Majors and Tier1 players that left and Timor crave to return need is, clarity within the
PSC.
Recent ANPM announcement , none of the few that joined in the bid round, have yet signed
their PSC contracts off, was all supposed to be finalised by June, now dated end of 2022 to
Feb 2023 to be completed........
If that is not another sign , they to await the Sunrise PSC (expected before end of 2022) most
recent coms, all parties looking to finalise by November........could happen anytime.....GLA
;))
Sunrise , is like Jurassic park , .......years in the making........lol
(1974-2022?)
They made a showcase of Sundagas, who helped them set up their own Industry
T/G ANPM , training , presentations and co sponsor of the first two Island oil and
gas conferences........and rewarded with Chuditch, to launch industry and bidding.
They could do worse than repeat that scenario, Showcasing Sundagas once more
Permit to FPSO and Domestic contract to supply..........
Would send the message to the Industry, Sunrise/Beaco not the be all and end
all and the Island open for other business......come and get it........GLA
:))))))))))))
As said many times , while Baron was snail pacing its portion of Kyranis
TGS had already done the entire 9000 sq km of Kyranis and all else in the
50,000 sq km (all on/offshore) region, in their new 2D CUBED format that
presents like 3D
Long advertised to the industry, any suitor could have long looked at the
entire license, long before Baron , finally published its portion.
Remember , the Majors/Tier1's have deep pockets, many will remember
just a couple or so years ago, Shell paid BPC £250,000 per month for six
months, for exclusivity on Due Diligence........ £1.5m and walked away..
Said months ago, the Timor Sea is no secret since the mid 1970's, the industry
know the potential, they also know , senior players have been frustrated over
decades.
So, many, many will be sitting in the wings, awaiting Sunrise PSC and final
production plans........
Alternate, they have now announced , the Northern site to be developed, including
LNG Tank Farm, who is going to supply it, it won't be Sunrise HUB/Beaco, that was
the original plan years ago , co-located Import fac for Domestic use.
Plan was Islands power stations converted by 2025, Beaco still years away if it happens
latest tender (Oct 2022) for completion 2030.
Which leaves, Chuditch as the next best local rates, cheaper than imports, from elsewhere
(supply deal with partner NOC) front and centre, to provide the Islands domestic needs
and the big player who develops quickly, free to sell excess production via FPSO at market
rates.
The Island, would be well happy with that scenario, it suits them and their own plans to save
millions annually over current diesel costs.
:)))))))))
Here's why gregorio
Sea across North OZ Hubs ,Darwin in the North and offshore Perth Western Australia , the two main
area's but expansion now also going on to meet domestic demand, Queensland (East oz) Gas/LNG
industry now booming.
Energy Skills
Queensland has released a new report which clearly maps out the rise of Australian gas jobs.
Indication are the gas sector could employ over 14,100 workers when activity is expected to
peak in 2024.
This is a staggering 200 per cent increase on the previous figures that were originally forecast
back in 2009.
Queensland`s CSG-LNG workforce is expected to peak at 14,100, however, if production increases
the workforce peak would expand to 17,000,creating an extra 3000 gas jobs for varying trades and
skill levels.
Australian Government , has stated several times, it intends to support LNG expansion and to
maintain, Australia's position as one of the worlds leading exporters.
Knock , Knock, Timor Leste get back in the game and 30 TCF sat on their doorstep for
starters , Sunrise/Chuditch/Kelp , with most of the rest of the 50,000 sq km, unexplored.
Unlike the OZ and Indonesia Timor Sea area's that sandwich it, they have been prolific
with huge discoveries since the 1970's.
Look at a map , Sunrise, Bayu , Chuditch etc all on trend with those discoveries.
All it requires, is the Island to say a simple YES you can...............GLA
:))))))))))))))))
Its the spreads, same on many shares daily 1700-1730
and always at the UT price.....
Guess they are allowing them last week was £324 Tuesday
£180k , £57k , £6.9k Friday, None this week until today
Flagged as usual ECHO XOFF
vice AIMX AIMX (aim) or XLON XLON (Main Market)
;))
Final AIM Volume
997,163,785
Turnover (on book)
£4,384.82
So in the range I predicted this morning another 1.1 billion
AIM/AQSE
Another long is msmn, not for it's current USA operations
but for its hidden gem, Australian Helium, down the road
Diluted a lot for the USA and consolidation coming
so time for that one............
Shared Baron on Chuditch long ago but have always
put the rider it's long term and Island cooperation
needed..........
Got in that one window shopping a couple of weeks ago
sub 16, some resident said a bit late he got 5p........lol
as always say , its the asset , not the rest that floats my boat
recent window shop tipped was
CRTM , AJAX , COBR, all main market, first two now about 50% and 100%
and the latter , should join them soon, read last update RNA message
has a timetable at the bottom, for Nov , Dec , January
RNA' s coming their way.........GLA
;))
I go window shopping and see a hidden gem
ask Shouston , I share some very good ones
:))
Yes some stuff on ANPM but its the first time have seen anything on
Chuditch or anything other than Sunrise on OUR PARTNERS site
hint of large dollop of sarcasm to my post .........lol
:))