focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
The day , some value returned to the regions Gas
The day, we get a serious JV player
The day, we get a much bigger sum to take out our 75% of a Super Majors Asset
Shell had both Sunrise and Chuditch
56% of that the Island took at a steal for $650m , after the 3 Majors had spent
over $400m in development cost , prior to placing Sunrise on care and Maint
in 2004 (how much is that in 2022 money)
Shell mapped Chuditch bigger than Sunrise
Every 1p is £189m on the MC
Cove got after a bidding war £1.25 Billion when gas prices 1/3 of current prices
for a similar sized asset.........
Not likely here , due to the 20 years of political impasse etc
but comparing to next door, an offer of 1p £189m for 75% of 5 tcf with upside
seems a tad on the bargain basement side.........GLA
:)))))))))))
lol
know the feeling, we all have one or a few of them
over the decades........lol
:))
1p is £189m , new official share base as of the 29th
what all the churn has been about, 12-1 rate so far..........
;))
Would take the majority of their Sovereign Petroleum Wealth Fund
to pay for it all......
Funds main source of revenues, Bayu Undan main reservoir already drained
just working on fumes from offset reserves, expected to end spring 2023.
Already stated , SWPF will only fund until around 2028/29, 2032 with annual cuts, the
whole idea of it was, oil and gas revenues would pay to develop all the other
sectors , preparing them for AFTER , oil and gas.........
Think it was a minus 2 billion budget deficit by 2035, so urgently need something
to provide new revenues and taxes soon.
And an increase in the Coffee trade, is not going to do that (TL big export)
:))))))))
Beaco and the hub, will need much higher external funding
hence , Horta/Gusmao, pushing OZ to fund with threats of China
and others , if they do not bring Meg/Woodside on side to their
own plans........
Also Stories in September and last week Horta , asking the USA to help
;))
Adam
it all also fits with the removal of the overall project name Tasi Mane
recently and the huge infrastructure budget increases for 2024-2026
as Doug and I posted a lot of recently......
FID 2023 - Get building the Northern facilities 2024.........
A lot more than most on here T
A lot more than most......lol
:))))))))))
All eyes on the CPR , that will give us a price guide.........GLA
Christoff
lets hope so, all seems to be coming into play, as posted this past few months
2021 Annual reports delayed only recently released for both , ANPM T/GAP
coincidentally (COUGH) just after our news was released........
The Timor Gap NOC , which is funded by Gov until first revenues, also has a
$650m Loan to be repaid to the Islands SWP Fund
Stated , Sundagas and progress at Chuditch
All suggests , the Island are onboard with SundaGas (Baron) plans to develop
Chuditch via FPSO
We sell and a deep pocketed player (the islands wish list, no more of us, adv etc)
and it can happen much quicker , than the Baron snail paced timelines......
;))
The power station plan was in Parliament a couple of years ago
The new studies for alternate GAS/LNG Import facilities last year
Nepotism , related Dr Buttlers on both boards, came out of that launch
and offered straight to Baron, who went for 100% RTO but failed to raise
so took 33% SG / 25% Chuditch initially.
Two further chunks taken over the next 2 years, to own SG 100% / Chuditch 75%
Advancement of Sunrise, will be good for us, gets their industry moving new Gas for
the first time during the saga, Woodside had hundreds of millions on its books for
its 34%, currently $0.00
Like wise Kelp Deep 14 tcf sits idle with no license or operator and we suffer little value
for our Chuditch , due to the 20 year history .......value returned to Woodside books
and we will get lifted up with it.......
After all Shell had both and mapped Chuditch bigger than Sunrise..........GLA
:)))))))))))))
New studies done/announced September 2021, keeping under their hats
One was for the Import Fac
the other Beaco/pipeline hub......
Beaco is years away, does not really matter to us, if the domestic
supply issue , which was urgent, goes ahead first........
We are in pole position , to get to supply it, unless the Island plan to defeat
the object of doing it and bring in expensive imports from further afield
Showcasing SundaGas would be great for us, like they did to launch the bid
round, SG got Chuditch out of the blue (helping the islands since 2016) as
part of the launch, A NEW Timor Leste license , vice the OZ one Chuditch
was previously with Shell , then Mizna.........until it disappeared into the
ether, until the Nov 2019 launch..........
Now that would be some RNA Message , Santos/ENI buying SG, with the
contract for domestic supply via FPSO/FLNG
:))))))))))))))
FEED is planned to commence Q3 2022 with a view to preparing for FID during 2023.
The other bit , goes along with the recent RFP , on the ANPM Website for LPG
said at the time probably, all going to the North, for what is required NOW.......
for the Island and its other development plans........
Split away from the offshore/pipeline and Exports project
While they continue to argue over Sunrise, we or new owners can be used
to satisfy the Domestic plans and export any excess production.......GLA
:))))))))))))))
You Twitterai and TG guys , get that LNG alternative
to original plan, out there.......Chuditch is coming
:)))))))))))))
Metinaro
Where the facility is to be built , is just to the East of the capital Dili
on the coast road........GLA
Come on , you know you want to, dog and pony show SundaGas once more
and announce, your Domestic plan , using Chuditch, please Mr Gusmao/Horta
:)))))))))))))))
BM
All the stuff about the projects , disappeared long ago off Timor Gap
website, loading all back up with some , old dates but new to me
and others , refreshed from previous.........
Fingers, toes and bring on the contortionists, Island news coming........
and the LNG TANK FARM, must be on the back of last years studies, for an LNG
import facility , to feed the 3 power stations (North 2 OCUSSE area) said in the
Parliament , to be all converted to Gas by 2025....
Those studies recommended a site in the North near Dili , vice the original old
plan to co-locate on the South Coast with the Export Fac's at Beaco........
Someone has to supply that Northern facility, as keep saying Chuditch , with a
real offshore operator, could Fast track much quicker,, to meet that demand.
Island stated conversions to save the Island millions per annum over Diesel costs
Defeat the object, if they go for more expensive imported Gas/LNG, when a mates
rates deal can be cut for local gas, with our NOC partner and whoever develops.
GLA
:)))))))))))))))))))))
https://chat.timorgap.com/databases/website.nsf/vwAll/Infrastrcuture%20Support
Everything about the projects , disappeared weeks ago from the
Timor Gap website, its loading stuff back on........here we go.....
https://chat.timorgap.com/databases/website.nsf/vwAll/Betano%20Refinery%20and%20Petrochemical%20Complex
https://chat.timorgap.com/databases/website.nsf/vwAll/TIMOR-LESTE%20LNG%20IN%20BEA%C3%87O
Project Description
TIMOR GAP E.P. intend to develop a Petroleum Import Terminal at a green field site at Metinaro
on the North coast of Timor-Leste.
The function of the terminal is to provide ninety-day national strategic stock of petrol/gasoline,
automotive diesel, maritime diesel oil, Jet A-1, LPG, and lubricants.
The proposed facilities will include a jetty, a liquids tank farm, an LNG TANK FARM,
and utility systems.
FEED is planned to commence Q3 2022 with a view to preparing for FID during 2023.
:))))))))))
Told ya the North was gonna get the Domestic LNG Facilities.......... ;))