RE: Trader’s Café with Zak Mir28 Nov 2023 09:01
It's not that long ago, another aim minnow with a similar sized asset, was targeted by shell, opening bid around £750m, bidding war ensued (offshore Mozambique) which was won by the Thailand NOC for a whopping £1.25 Billion.😲🤑
Low end of that initial bid, above the ceo comments and Thailand a lot closer to Timor Leste as are the much larger top regional gas guzzlers China, Japan, Korea and Australia (OZ largest exporters also) 🤔
Shell originally owned Chuditch , so know exactly and more than Boil/SG do about the whole license, who knows, having been hammered in the courts 2021/22 , they declared moving out of oil and into Gas and Gas infrastructure project, plus blue/green developments, they might decide to come and get their ball back.
Contrary to rumours Shell ditched Chuditch as no interest in Gas, they did not, they moved the license on to Mitra , having stated leaving after a 2nd NO from Gus/Horta, their own first LNGS ship being built in Korea, designated for draining Sunrise, said leaving, moved on 2008/09, finally departed Sunrise with Conoco Phillips 2018/19 , after the Island gave a LOAN of $650m to Timor Gap Noc to take their combined 56%.🤑
Another indication of what Boil could get for Chuditch, pre gas price boom 56% TCF $650m which was recognised as a after years of leaving, lowball exit route. Against 75% of Boil 3.5 TCF, or shells original 90's comments 5 TCF with more upside, they thought bigger than sunrise on further dev. 😉