Member Info for Jarv55

Can't fault the communications from Andy Butler well detailed rns shame the twitter account isn't doing its job but fortunately Proactive are. We are still churning through the placing imho. And people buying at 0.050 taking their 10%. I see it as a buying opportunity because if we are named along side ENI santos or Inpex we aren't going to be sitting down here for long.

David do some research we are not fully funded yet

Very good news today things moving along nicely

The Company is also liaising closely with other operators in the region that are expected to drill wells in locations relatively nearby. Got to be Wni and Inpex for sharing the Valaris 247

One well contract with Eni for heavy duty ultra-harsh environment jackup VALARIS 247. The contract is expected to commence in the third quarter 2024 in direct continuation of the rig’s current program, with another operator, and has a minimum duration of 45 days. The operating day rate is $180,000.

https://www.valaris.com/news/news-details/2024/Valaris-Announces-Contract-Awards-and-Fleet-Status-Updates/default.aspx

Good find by FIlthy looks like Austrailia is ignoring the Green agenda and carrying on as usual with gas.

Exciting news! The #McDermott and Baker Hughes consortium signed a strategic multi-year Framework Agreement (FWA) with INPEX Australia to execute engineering, procurement, construction, and installation (EPCI) projects. The agreement paves the way for more synergies and collaboration in Australia and covers the supply of advanced subsea production system solutions, fabrication and offshore installation services for INPEX.

https://m.facebook.com/story.php?story_fbid=pfbid021aDEf93AvBkA54ZjrLAKgbPAM4P3FTHD4MU5hmWP9xiPUexCwEcHseja8zGdaUMTl&id=100068553572343

Last year, Italy's Eni was awarded offshore Block P, which is close to the Greater Sunrise and Chuditch fields in Timor Leste's maritime area. That PSC is expected to be signed shortly. "Block P is immediately adjacent to the north of Baron's Chuditch Block, on the gas migration route from Chuditch towards the Greater Sunrise field. That fairway is very interesting," noted Butler. "A successful explorer like Eni doesn't enter a new block for a small resource, they will be looking for something of size. This fairway has an enormous amount of gas within it. So, it's good news. I see their arrival as a validation. It's great to have such a big name as a neighbour," he added.

We all know that Eni signed the Psc and they are next door to us so would make sense to share costs with them.

Baron's confidence was boosted by the latest seismic imaging works and its focus will be on a single appraisal well at Chuditch to confirm the much larger resource, before exploring the adjacent features. The company plans to do a production flow test at the field, which Shell did not do previously, as there was no real gas market in the region in 1998. "We anticipate that the reservoir will flow very well. It's like the nearby Bayu Undan field and we expect similarly excellent rates. It's an equivalent reservoir, maybe slightly better. Similar depths, normal pressures, essentially the same setup geologically," said Butler.

however, the key here is the value creation narrative. "most modern oil and gas exploration is laser-focused on finding resources that can be brought to market within a short timeframe to enhance returns. asia-pacific has many large, stranded gas resources, including chuditch, that have struggled to find commercial routes to market for many decades. greenfield development in a frontier area like east timor will take time, therefore any fast-track commercial solutions that could bring this gas on relatively quickly, such as utilising existing infrastructure, will create a more attractive investment thesis," cautioned rodger. peter ****roft, an oil and gas expert, that has advised east timor, also known as timor leste, for decades, told energy news that "chuditch would be a very important project if it works and there should be more focus on it. "if successful, it could improve the economics for the whole of timor leste, in terms of national revenues and improving the economics for the development of greater sunrise."

"chuditch could move quickly if successfully appraised. if chuditch expands and gets bigger, a pipeline could be laid connecting it to the undeveloped greater sunrise fields operated by woodside energy, which enhances the economics" added ****roft.

Low risk investment? Some of the geological risk should be reduced as Baron's proposed drilling is an appraisal of a discovered resource, Angus Rodger, a senior upstream analyst at research company Wood Mackenzie told Energy News. "If the well is drilled, it will also flow-test the reservoir - which didn't happen with the original discovery which will give us a greater understanding of the field's commerciality. However, one risk will be CO2 content though, as high levels of contaminants will be problematic," added Rodger.

"The good news is that because this is an appraisal of a discovered resource, potential partners will not feel like they are being exposed to frontier exploration risk. Plus, there is still healthy levels of appetite for exploration in the region - recent licensing and drilling success stories in nearby Indonesia and Malaysia is testament to that," he said.

Funding the drilling could prove challenging for Baron, so an ideal solution would be a farm-in partner, who could carry them through this period, added Chambers. Baron have set out several potential developments for Chuditch and the other prospects in the PSC. Commercialising the gas will require access to an LNG liquefaction facility, be this a floating LNG (FLNG) plant at the field, a new onshore LNG plant in East Timor, or the gaining of access to existing or expansion LNG trains in Darwin, such as Santos' Darwin LNG or Inpex's Ichthys LNG. Of these, the standalone FLNG solution is likely to present the quickest path to first gas, added Chambers.

"Based on Baron's resource estimates, a standalone FLNG development around the 2 million tonnes per year (t/y) scale would certainly be commercial in today's LNG price environment," noted Chambers. Moreover, "the new government in Timor Leste is very focused on accelerating oil and gas development and understands the positive impact that the revenues could have on the country's economic future. Timor-Leste has seen positive signs, with a successful 2022 bid round seeing blocks awarded to Santos and Eni," he added. "It is likely that any investor would require experience in the LNG space and, ideally, the experience and patience to navigate the above-ground challenges. This would put companies such as Eni or INPEX into prime position. Santos could also be included on this list, but will likely be focused on solving their development challenges at Barossa. Other options could include PETRONAS for their FLNG expertise or the Chinese NOCs," said Chambers.

Baron reported it has recruited a well operations manager and is holding workshops with Timor Leste government regulator ANP and joint venture partner TIMOR GAP. The firm is also in talks with other regional operators to identify potential logistical and operational cost-saving synergies and has submitted first-phase documentation to ANP for environmental permits.

The might be sharing the Valaris 247 with Eni Eog and Inpex

Baron Oil has successfully reprocessed 1270 square kilometres (kms) of old 3D seismic to PSDM and applied full wave inversion techniques (FWI) and modern algorithms, as well as various approaches to maximise the information that was in the data," Andy Butler, the company's director Asia-Pacific and MD of Baron's Timor-Leste operating subsidiary, SundaGas, told Energy News in an interview. As a result, the mean contingent resource is now estimated at 1.16 trillion cubic feet (cf) of gas for Chuditch, up from around 700 billion cf, which was previously talked about, added Butler. The explorer also mapped out three adjacent prospects, in the same Plover Sandstone reservoirs, and at similar depths to Chuditch. As a result, we estimate an additional 2.1 trillion cf of mean prospective resource potential, said Butler.

"Although they are undrilled features, we see them as pretty low risk. Overall, the contingent and prospective resources on the block are very exciting," he said.

Baron expects to drill a Chuditch-2 appraisal well in late 2024, subject to drill financing. "We have discussions with various parties for financing and we are working on all aspects of funding. However, we are very confident that we will drill, hence preparations are already underway," said Butler.

Well what happened was Furion our dear Ceo at the time Yeo thought it was a good idea to place at 0.050 shareholders didn't think that was a good idea at all and voiced concerns but he still did it. So we now have a new Ceo in place someone who knows what he is doing and how to get value for us all hopefully, including himself seeing as he has plenty of skin in the game.

Santiago you would be chancing it rns might land Monday with the new Chairman appointment.

Big chunks sold buyers coming in to take them off their hands https://invst.ly/14dgbp

All the lenghts know the risks with Boil, but don't think even the placees realise what this could be worth if they hit more gas. https://x.com/Jarvy55/status/1778685192292479119

Further to the announcement released by the Company on 15 March 2024, Baron Oil Plc (AIM: BOIL) announces that Andy Yeo has stepped down from the Board of Baron with effect from 1 April 2024. This follows on from the completion of the transition of responsibilities to Andy Butler as the Company's new Chief Executive Officer.

The Company is making good progress with respect to the appointment of a new Non-Executive Chair and a further announcement will be made by the Company at the appropriate time. Can't be too long now unless the nomad is the slowest in the business.

Dm me on telegram

Inpex working with Eni on a couple of projects https://www.inpex.co.jp/english/news/assets/pdf/e20190902.pdf

Don't forget the ENI and Santos tie up https://www.santos.com/news/santos-and-eni-sign-mou-to-collaborate-in-northern-australia-and-timor-leste/