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Triangle Energy website 30th January........

New Ventures

Triangle’s application for one onshore permit (NA-11), and two offshore permits in the 2024 1st BARMM Conventional Energy Bid Round in the Philippines have progressed and have been submitted to the Office of the President for review and approval.

Https://geoexpro.com/the-home-of-the-worlds-first-deep-water-gas-development/

In the recent joint 1st Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Conventional Energy Bid Round and the 2024 Philippine Bid Round the De­partment of Energy (DOE) announced that they received applications for PDA-BP-1 (Cotabato Basin), PDA-BP-2 and PDA-BP-3 (both in the Sulu Sea Basin). Triangle Energy teamed up with PXP Energy, Sunda Energy and Philodrill for the two applications. The acreage was pre­viously drilled by ExxonMobil and three deep-water gas discoveries were made in Late Miocene turbidites. Signifi­cant upside remains in the play, which is analogous to the Kutei Basin to the south in Indonesia and the NW Sabah Basin in Malaysia.

At least AB has high ambition and standards , BARMM being another ex Super Major's asset (ExxonMobil) when he floated Sundagas in 2018 on the Singapore stock exchange, he brought with it Chuditch (Shell) and another from Indonesia (TotalEnergies)

Yeo ho ho and co , could not even be bothered to shave and dress well, for the Bedroom Presentations conducted. 😲🤦‍♂️

As posted previously , Shell thought the additional leads to the SW , might be Oil but more likely very large condensate fields (carries a premium to oil) with more gas over. That analysis was based on what they had observed with their own then Sunrise and Troubadour (220mb condensate) fields

Likewise as posted, the story and the GIIP figures are only going to GROW and GROW over the license long term development and Shell drilled the edge of the initial field Chuditch a 25 depth section CH-1 , our CH-2 from mapping, should be around "SIX" times as thick reservoir 150 estimated.

With Bilby/Wombat (Chud N and Chud SW now) and all those additional N / SW leads to add

This is just the end of the beginning , of the Chuditch / Sundagas story.......... GLALTH.

Bumps probably the other leads Shell talked about way back , our seismic only partial and the rerun brought in the edge of what Shell called Bandicoot, renamed on Sunda's books as Quokka but Shell had more of them to the North and South West of the smaller area boil remapped with the Kyranis 3d 2013 rerun in psdm vice original pstm processing (limited area 1200 sq km v license 3,700 sq km)

get that rig in place lard ****..........4 years tick tock...........

National oil company Société Nationale des Hydrocarbures (SNH)

In partnership with international operators, SNH is working to revitalize the country’s exploration sector, focusing on established hydrocarbon plays. Anglo-French independent Perenco recently signed a new 20-year PSC to continue developing the Rio del Rey Basin, which has produced more than one billion barrels of oil to date and holds an estimated 1.2 billion barrels of oil equivalent in remaining reserves. London-based independent Tower Resources is also spearheading exploration in the Rio del Ray Basin under its Thali PSC, which encompasses at least four distinct plays systems. The first exploration phase of the license has been extended through February 2025, with the NJOM-3 expected to be spudded in early-2025. Tower Resources is currently exploring farm-out options to secure funding for the drilling program and is also in discussions with various banks to arrange long-term financing for three additional wells planned for the offshore Njonjji structure, as well as one short-term project.

Tick Tock

📰👀👁👁‍🗨😜🤪🙄🔴

Scroll down , the BARMM at the bottom.......

As posted earlier , if you read various doc's on the DOE website, once approved Presidents signature, various follow on steps required, with number of days timelines attached to each step, latest Minister to press, all waiting on the Presidents desk and expect all completed by June.....Attached the timeline published, we are at the bottom of the rungs, PD. For all completed by June , that sign off has to be now/soon...... GLA 🤔

https://doe.gov.ph/pcecp/resolution-no-08-002-2023-rules-and-procedures-application-and-award-psc-barmm?q=pcecp/timeline-am

The asset is Sundagas, it owns 60% of the Chuditch license, we after 3 portions over 2 1/2 years own 100% of Sundagas, so the continuation of AB's plan to build a mid tier Asian Gas company , will remain, no matter how Chuditch pans out, full or partial sale will be at the Sundagas level, not the Sunda Energy.

Sundagas AB , CM and the rest of the team arrived on the Island in 2016 , long before Boil (snda) came on the scene 2020

They built the local sector from scratch and still provide training to this day. Being rewarded with the NON TENDER award of Chuditch (not sunrise) to showcase and launch TL's first 17 license bid round.......(who you know)

That Sundagas relationship with Gusmao and co, has always been our biggest ASSET......... 🤔

Unlike the previous BOD , who looked (as boil was an investment company not a true oiler) to exit asap. AB has never given any such indication, has bigger plans and unless its a real GODFATHER offer, will not exit in full. His whole building a mid tier Asia focused GAS Company, very much depends on funds flowing, at the mo he can only get that near term, with a decent offer post drill, or retaining a small percentage for many years cut of Chuditch revenues.

His vision is an across the board GAS Company, a full sale at an undervalued price, would have him sitting no higher than the Investment company that Yeo ho ho and co ran into the ground.

Still see his plan as part sale, unless a GENUINE fair offer is made, based on the known facts about the full license, not just the part played with by Boil (snda)

Remember at the 2021 Conference Sunrise valued (pre gas price boom) at $60 BILLION over its expected 30 year life cycle. Shell thought on full development Chuditch probably would end up bigger than Sunrise , many additional leads and possible Chuditch - Wombat - Bilby Linkage - the later renamed Chud N and Chud SW by Sundagas.

Shell stated if proven up, that linkage would at least double their current estimate for Chuditch which stood at 5tcf, so a potential 10 tcf if linked (boil/snda have also mentioned this possibility) plus all the additional leads on top of that.

The sector and AB will be well aware of the history, so cashing in early for a derisory LOWBALL offer , imo is not on the table 🤔

Its because they are all best guess labels, nothing to do with the MM's or Market, the worlds markets label nothing, you see buy/sell/unknown or colour codes, they are all a BEST GUESS not a fact. All 3rd party sites like this one rehash the real exchange TRADE print, trying to be helpful with stats BUT failing miserably on most shares daily.

Based on what ultra DIMBO ALGORTHIM sees as ITS MID and range now status only

All above mid = Buy (never the case)

All below mid = Sell (ditto)

All exactly on its mid price, all delayed trades and all seen outside of its range CHOKES = UNKNOWN

Its as simple and tragic as that........

Also from a recent March article.........

China will enhance carbon emissions data collection, implement accounting mechanisms, and develop systems for carbon management, labeling, and certification.

Additionally, the country will further promote renewable energy development by accelerating the construction of large-scale energy bases in DESERTS and other dry regions, expanding offshore wind farms, and improving the integration of renewable energy into local grids with enhanced transmission infrastructure.

Coal-fired power plants will undergo low-carbon upgrade trials as part of China’s decarbonization efforts.

The report emphasizes China’s commitment to undertaking major climate change projects while actively participating in and shaping global environmental and climate governance.

Nice line with deserts , dear China remember the THAR DESERT ...... 😉😅

Https://thedailycpec.com/china-advances-green-hydrogen-for-carbon-neutrality/

🤞🤞🤞🤞 They will come and do the same for ORCP and Pakistan soon...... 😀

All use the same ULTRA DIMBO Algorithm , based on what IT SEES as the current mid price and range.....

All above mid = BUY (never the case)

All below mid = SELL (ditto)

All exactly on ITS mid price, all delayed trades , or seen outside of its current range, CHOKES = UNKNOWN

All based on ITS NOW STATUS in all cases..........

Yes is the simple answer, on all shares daily, the buy/sell/unknown and colour codes are all a BEST GUESS not a fact. It has ZERO to do with MM's or Market, they just do their thing printing TRADES, they consider all to be both a buy and sell, so why label, so they don't.

All the confusion caused by 3rd party sites like this one, all taking and REHASHING the TRADE prints from the real exchange and adding a BEST GUESS to create stats and try to be helpful BUT failing miserably on most shares daily.

As you well know FL, always been undervalued by a sceptical market, so the bounce has to happen sometime. News now due on both fronts, so probably the source of the twitching.....

Posted earlier, the steps in the BARMM license round, so many days for this, so many for that, news must be imminent, the last official comment, said expected all signed off by June (that involves many steps after the initial award) Said on the President's desk awaiting signature, for all those steps to be concluded by June, he would have to be signing now for the REC meetings etc to sign off terms for the PSC by June. 🤔

As said for a long time, still hoping we are the domestic security plan, Tasi Mane original project at Beaco had both elements a single string GAS/LNG IMPORT terminal and a multi string GAS/LNG Exports complex , a plan devised by Gusmao in 2002 killing the 3 majors plans for Sunrise Darwin 2003 production. (26-28 wells FFD)

Things got moved around (Metinaro etc) but now seems Gusmao back in charge , the band all back together NATARBORA

for the imports terminal, our initial 1-2 wells program, would be more than sufficient, to satisfy their project and sell the excess to world market.

The production targets for both Chuditch (2028) and the Imports terminal (2025/26), have always been for dates well ahead of any possible Sunrise production was for years 2030 , last official comment now poss 2032-34.

Why always suspected , made for each other, especially with AB and his team involved, building the elements of the local industry since 2016 , long before Boil (Snda) came on the scene 2020....... 🤔

We drill asap, we hope the rest fall into place ASAP , our plan remains first PRODUCTION 2028 , not 2025. Plenty of time for that dual pipe C-B-N, Santos just completed their dual pipe project, Barossa to Darwin, it took less than a year, its now more a case of can TL have at least one processing string built and in place to receive our gas by 2028, than us speeding things up...........GLALTH

Always been the same , Mr Market will believe it when he sees it, due to the local situation, Boil (snda) failed to RTO initially , could not raise the money, even though using Shells Chuditch 5tcf plus upside data, ended up taking 33% Sundagas which then held 75% Chuditch giving Boil 25% Chud ........long drawn out history and much dilution to get the rest over time....

Fast fowards, now we have

A plan MOU to take Chuditch to the Island (not our plan but always G&H 's) will be GREEN LIT

Multiple parties talking with TL on Natarbora , a complex for all development

There never was any for Beaco/Tasi Mane in 20+ years

Drill nearing, Infrastructure coming.........tick tock KAAAAAAAAAAAAAABOOOOOOOOOOM

MT

Said for a long time , this would be a VERY COMPLICATED deal, not just about the drill, we drill its still just a now larger puddle in the ground with nowhere to go (sunrise remains on Woodside books at $0.00C) Fingers crossed that changes soon, was near $400m for their 34%, before being marked down year on year , due to the impasse/stalemate etc.

It's why a Sunrise decision has always been important to us, Woodside put money back on the books for Sunrise, likewise Chuditch will finally get some credit for all that gas, its always had and more based on Shells mapping. 🤔