Member Info for JAllis

Lol. I have watched them. Including the October one. Nowhere in that presso does BOIL say the gov is on board with any route or a particular route has been confirmed.

They simply say theres this x,y,z option but point is, theres always been x, y and z option, but gov is only interested in one of them which no investor wants to pay for because its ECONOMICALLY UNVABLE

Where does it say the government are fully on board with the route they wish to take? Provide the link to this statement if its true.

This is the whole point why the project has not taken off for years, because the government are absolutely NOT on board with ANY route and want it piped to TL but that is ECONOMICALLY UNVIABLE and no major is prepared to stump up the funds for an unprofitable project.

as I said, these comments are from Lao Hamutuk, not me, its a well known issue with those close to the matter and has been going on for several years. Why else would the likes of Conoco sell out? Because they couldnt do anything with the project!

The comments below are from a TL think tank, Lao Hamutuk, check the link yourself, its not my opinion.

"We also wonder about the economic viability of the Tasi Mane project, given that no private sector investors have shown interest. From an investment perspective, the returns may not justify the amount of public money being expended. The Beaçu LNG plant will require natural gas from the Greater Sunrise field which the oil companies who hold the contracts don't want to bring to Timor-Leste."

and

"The fundamental non-sustainability of Timor-Leste's oil-export-dependent economy is unavoidable."

Davies, nothing has changed, the situation is at stalemate. BOIL can prove up as much as they want but until there is clear exit route for the gas no major is going to touch it. All depends on an economically viable exit route that the TL gov AGREES to!

Does this exist? I think you'll find not, and until it does, no one is going to pay a penny, the license is not worth the paper it's written on.

pay attention - important, this is from the TL government themselves:

"After several delays, $650 million was transferred from the Petroleum Fund to TimorGAP on 10 April 2019, and then paid to ConocoPhillips and Shell on 16 April. The April Petroleum Fund Monthly Report shows this as "Alternative", and it had grown to $656.7 million by the end of June. (In 2021, this loan was quietly ****revalued to zero**** because of uncertainties with the Greater Sunrise project -- see below.)"

TL government have written the project off and people on here are going gaga with $$$ signs in their eyes. SMH

Why would the majors buy back a project they themselves sold out of? Anybody that thinks that is going to happen is deluded and anybody that is telling you is ramping.

The majors will not touch this, nobody will farm into this until the exit route of the gas is cleared up. TL doesnt want it going to Oz or a FPSO but for it to be piped to TL which will cost ATLEAST $14B and nobody wants to stump up that money as the project at that outlay is uneconomical. Not to mention collapsing gas prices

And dont fall for all the posts and links to statements made by politicians either which are said to win votes, appease the public and plain old populism as Lao Hamutuk says:

"This is a different message than most Timorese politicians have been hearing and promoting at home.
Although technocrats in Timor-Leste are reconsidering the dominant role of oil and gas in its economy,
the inertia of prior thinking will be difficult to overcome, and nobody wants to be the bearer of bad news.
Many political leaders continue to declare “Hakarak ka lakohi, Projetu Greater Sunrise ita tenke kontinua”
(“Like it or not, we must continue the Greater Sunrise project”).

If decision-makers can overcome the fantasies and obsessions that have followed oil and gas into the
public policy arena, the remainder of the Petroleum Fund could be used to kick-start more sustainable,
equitable economic development"

http://www.laohamutuk.org/econ/ScheinerTLEconSurveyCurrentEn.pdf

The answer to your question is nothing. Its uneconomical. To build the infrastructure to get the Gas to TL will cost more than the returns from the project. For TL to pay for its share alone will be c$14 billion, TL just does not have the money for it. Refer to Lao Hamutuk:

"We also wonder about the economic viability of the Tasi Mane project, given that no private sector investors have shown interest. From an investment perspective, the returns may not justify the amount of public money being expended. The Beaçu LNG plant will require natural gas from the Greater Sunrise field which the oil companies who hold the contracts don't want to bring to Timor-Leste."

and

"The fundamental non-sustainability of Timor-Leste's oil-export-dependent economy is unavoidable."

TL itself sees the asset as worth zero :

"After several delays, $650 million was transferred from the Petroleum Fund to TimorGAP on 10 April 2019, and then paid to ConocoPhillips and Shell on 16 April. The April Petroleum Fund Monthly Report shows this as "Alternative", and it had grown to $656.7 million by the end of June. (In 2021, this loan was quietly revalued to zero because of uncertainties with the Greater Sunrise project -- see below.)"

"It is hard for many people to accept that Timor-Leste will never again receive $3 billion a year, as it did
when it was converting non-renewable oil and gas assets to financial assets a few years ago, and that the
savings in the Petroleum Fund will not be able to finance the state for generations. Existing fields are
depleted or near depletion. New prospects are minor, apart from Sunrise which may not be commercially
viable, and there are real risks of massive waste of public funds and land on the dubious Tasi Mane
project. The only way forward—it is not a choice—is to diversify the economy"

http://www.laohamutuk.org/Oil/TasiMane/11TasiMane.htm
http://www.laohamutuk.org/econ/ScheinerTLEconSurveyCurrentEn.pdf

Don't fall for the ramping. The majors are not going to buy a PSC that they sold out of even when they knew there was TCF gas there. They sold because simply put they couldn't get at it. Stranded asset.

price was in the 4s since that last week of Dec and above 5 for most of Jan so can hardly call it a 'one week spike'.

anyway, at 5p company is now valued at £10M, at 10p it'll be valued at £20M and Brewer is saying he expects it to be at 20P i.e. £40M by early April when it lists on AIM. That MCAP for 2 years worth of Lithium to sell and a Lithium resource that had a JORC study on it which concluded it had 'trace elements' of Lithium and was considered uneconomical.

Copper and Graphite no telling how much or how little they hold. Companies with far more are valued at far less. Extremely expensive and a CEO that has in the past just upped and left companies he's been involved with (GCAT).

Expensive with little to show for proven resource and management going AWOL risk

I'm referencing verifiable facts that can be checked independently, not really the same with you guys and these mysterious documents

what document?! how would one even know its authentic. needs to be official comms from the company etc otherwise anybody can write things on a word document/pdf and post screenshots in a telegram group.

AVL is multi million $ listed company, their full drill report is available online, you expect me to think a random document in some telegram group is the real deal and the AVL report isnt? gimme a break

uneconomical mine, couple of years of stockpiles, and just given half the company away for half the price and rns doesnt even explicitly state what the proceeds will be used for just vague general terms.

madness

so let me get this straight - just because you type a bunch of text into a forum and sign it off Peter Major (whoever that is ) im supposed to believe its in some way legit and refutes AVL's findings?! loool

so let me get this straight - just because you type a bunch of text into a forum and sign it off Peter Major (whoever that is ) im supposed to believe its in some way legit and refutes AVL's findings?! loool

Rather not join these echo chambers where anything can be made up. Like I said, post it publicly, let's see if its genuine

Most samples? I don't think you've read the Australian Vanadium report, literally tens if not hundred of samples with 0.2% ish grades.

Their overall conclusion was it was trace amounts

Telegram?! Haha. Pull the other one. Telegram where anything can be made up and narrative completely controlled!

Post it publicly if its genuine

and where did Peter Major say this?

On what basis can you say drill campaign was rubbish, they had 41 holes and hundreds of samples!

1360ppm is 1.3% not that big a deal and that's on the higher range of what they got. And only from one hole as you say. Rest were 0.2% range of Lithium.

The reason for drop had nothing to do with price of lithium but grades they were finding. Even at todays prices 0.2% are not considered commercial.

In a market where other explorers/producers are being funded at PREMIUMS eg KOD, MARU has given half the company away at 50%off!

Shows what the guy buying in thinks of the assets. Tbh, not surprising given Australian Vanadium did a drilling campaign and found very little and gave the asset up.

Also major issue that the guy taking50% of Co is now well and truly I'm driving seat with heavy board representation but as a minority shareholder will push for his own interests and that of the mining group. No longer any 'services' or 'expertise' he provides will be billable back to MARU.

So basically company now with mcap of about 12M just has a stockpile of lithium and some mining licenses - 1 of which has been dropped after a drilling campaign by another explorer as was deemed to have little Lithium and another couple with an unknown amount of resource as no drilling has been done on them. SMH.

it will cost billions to go it alone, funding is a huge question, majors don't have the appetite for that level of spend because it affects project economics.

Anyway key point here is the cpr could say they have the biggest gas field on the planet and it wouldn't make the slightest bit of difference if they can't get it out the ground!