Member Info for passiton

Meg has always stated, Sunrise PSC agreement first, then how to proceed, they have met several times in the past few weeks, with little info released, save the usual TL side , made progress (same for decades 😂) If those JV talks have made progress (last Steve Bracks comments suggest he is more confident) would now expect the PSC agreement to be before the end of 2023, with further Production/Path talks early 2024.

TL have FID for Metinaro down as Q4 (comments by end of 2023, another by November NOW!) Chuditch perfectly placed to drill 2024 and supply Metinaro Gas/LNG Imports facilities and 90 day tank farm, to supply their 3 being converted from Diesel to Gas power stations (all complete by 2025'ish). In their own interests , cheap local supply, to get behind Sundagas FPSO plans as reward for its services to TL 2016-Ongoing, long before Boil entered 2020.

Butler and co, built and continue to train the locals and build their infrastructure

Due to digging their feet in and burying their heads in the sand, they now find themselves fast heading to a financial cliff, hence the posturing against Australia, things have now progressed, China , Kuwait and others expressing firm interests, in supporting TL in getting what they want, their own full UP/MID/DOWN stream industry. Australia will now have to put up the funding

They are all tied together, Santos/ENI still have not signed off their new license psc's, first due June 2022, then extended to February 2023 announced Nov 2022 and until a ANPM line a couple of weeks ago, advancing psc talks with ENI, silence since Santo/ENI/Koreans have their own plans and Darwin facilities, so what's the hold up to committing 10's of millions, hundreds on FFD development, the obvious answer, they to are waiting, wanting assurance THEIR plans will be honoured, which was not the case with the Majors/Tier1 players that departed, having both Darwin and FLNG refused by the Island, the message , all can wait for Beaco, it all comes to the Island.

In essence, no YES permit ever given and no path to market, at least for us, if Sunrise plan to Beaco becomes a reality, it is A ROUTE TO MARKET, that will be permitted and so our long valued $0.00c Gas will have value returned to a prospective developer wanting to move in on Chuditch, a first ever YES to other, e.g. our FPSO plan would be better for the industry, showing, their slogan Timor Leste open for business, actually is for the first time ever, would move those sitting on the fence quicker imo.

Woodside for the past few years has had its 34% of Sunrise on its books at $0.00c after marking down year on year from hundreds of $ millions, its future secured by a HUB/Beaco development agreement, returns that big number to their balance sheet and should have the knock on effect, to return some sensible value to Boil/Chuditch 75% of 3.5 tcf gas.

Sunrise gets sorted, the Island become honest, can others develop, or all wait in a queue for their turn at Beaco etc and the floodgates should open and TL should get new owners for the 11 of 18 licenses not picked up in the pathetic bid round 9 bids on 7 licenses after 2 1/2 years, at same time Nigeria had 57 licenses and over 1,600 bids.

Why such a drastic difference, one country established and lots of homes and production plans available, the other sending mixed messages, a history of NO to the industry, you can wait for something that does not exits 20 years later.

All we need is a visible progression, or a plan that suits TL, e.g. we get a yes for FPSO but we have to supply them and their Metinaro project (Gas/LNG Imports - 3 power stations)

We only need a validated path/s to market, we do not even have to drill, Dunrobin Oil more than covers our current Market Cap, Woodside gas value returns on Sunrise resolution, then so should ours.........GLA 🤔😉

No Timor Leste Government weekly Cabinet meeting, a first on me.

Gusmao and Horta (PM & President) both skipping next weeks Pacific Islands conference 6-10th.

Local NGO Lao Hamutuk , reported Australia and Timor Leste in accelerated talks to bring Sunrise to the Island

(then it disappeared from the website a few days later, included talking alternate site to Beaco at Natarbora)

Metinaro Petroleum Import Terminal (PIT) which includes , Timor Leste Gas/LNG Import facilities and 90 day tank farm has a final investment decision FID, of late 2023 (q4 now)

Baron extended it's drill or drop decision for Chuditch , from summer 2023 to December 18th around the same time, FID for Metinaro was announced.

Looking to drill Chuditch in 2024, TL looking for Domestic Gas supply for its 3 power stations (currently Diesel) conversion complete, supply from Metinaro Gas/LNG Import fac, announced for by 2025

The two Andy's had a meeting this week, with the Ambassador at the Embassy, he seemed pretty excited, our usual update and PR to give details, was once more ,nothing but tumbleweeds.

We go again next week GLA....... 😉🤔

While doing what !

🤔😉😂

Ooh I could crush a grape, the image of the Meg , flexing her muscles 😉😂

https://media.tenor.com/nD49aHbiAUEAAAAC/strongwomen-strong.gif

Yank response

https://laughingsquid.com/wp-content/uploads/2020/03/Trouble-With-Tumbleweed.gif

Hoped to have it (rig contract) done this week........a month later , leopards and spots, last year, on the finance, if not today, in the next few days............ still waiting for both and the license to be renewed ffs. Mother of RNA Messages needed over the rns newswire, or all three together , like London buses 😉😂

Https://youtu.be/tCckFVp8dbI

Show us a rig............

JA, JA Show us a rig, show us a rig, Show us a rig, JA, JA show us a rig and get Tower to half a pee🙄

Which sort of stamps the recent comments, we would not refuse any Chinese assistance BUT would not do so, at the cost of upsetting others, by allowing a military base on our shores. Australia might use that to its advantage, soon agreeing to co fund progress, with perhaps China CNOOC etc, pay for, build and operate the required infrastructure long term.

Or perhaps given the tying of its own industries hands, will want to now FULLY fund , the Hub/Beaco for production offtake rights, NIMBY carbon footprint reduction, someone else (Bayu-JV ccp project) can have it all on their resume. 😉🤔

Goes along with what the demon duo (B & R) keep saying, we are friends with all USA, Australia and China. 😉

A region that must feature more prominently in the discussion is the Association of Southeast Asian Nations (ASEAN). Not only does ASEAN demonstrate that strategic neutrality, however fragile and tenuous, can and should be embraced as a feasible option amidst deteriorating Sino-U.S. relations, it also provides for a series of exemplary case studies on how regional, medium powers, and small powers, can seek to preserve agency over domestic affairs through a delicately maintained approach to external relationship.

East Timor’s prospective accession to ASEAN

https://www.chinausfocus.com/foreign-policy/how-southeast-asian-countries-are-navigating-the-era-of-sino-american-strategic-competition

Pennpetro Energy Plc Ord 1p is listed on the London Stock Exchange trading with ticker code PPP.L. It has a market capitalisation of £1.96m, with approximately 100.30m shares in issue. Over the last year, Pennpetro Engy share price has been traded in a range of 8.55, hitting a high of 10.25, and a low of 1.70.

Remains, very low shares in issue and a long way off the year high of over 10p 🤔

😂🤣😂 love the Batman stuff, although had Meg down as Poison Ivy , until the recent U turn.

"Good news! Our oil development team in Texas have been very busy registering our 100% interests in these oil wells and preparing for the well workovers to start. Noble is now finally visible on the Railroad Commission website as owner / operator of the wells thereby allowing us to formally appoint contractors to carry out the on-site well works to bring these well back into oil production. Our current plans are to start with the workover of the Chalk Talk #1H well before moving on to flowing oil from Chalk Talk #4H, City of Gonzales #1 (COG#1) and our Whistling Straits 5H wells. We have a very busy work program ahead and look forward to updating shareholders in the near term." - 8th September 🤔

More oil and gas coming.

Come on Leni , give it some Gas 😜😂

Will we have an afternoon rally, Yank PI's now open for business (core hours) big boys can access London much earlier, will they like, the news on our US Asset, with PPP back on the market ? 😉🤔

David is like Marmite BUT have had some serious gains, on his shares, before the rot (placings) set in or he leaves, eternal dog of the last decade UKOG, floor to almost kiss 12p, he left, what is now KDNC before consolidation and name change, whopping 0.04p to 1.35p (then 3 rapid placings taking it back to 0.65p still well up for early birds) He's a market smarmer and charmer BUT at some point they all usually have a big KA💥💥💥💥💥💥💥💥💥💥💥💥M 😉

PPP , well under valued for the potential it has, plus Main Market, NOT the unregulated wild west casino AIM. Standby for the charm offensive and news flow , then worry after the rise he usually brings to the table first. GLA 🤔

Bracks is a former Victorian premier and long-time Gusmão confidant with deep connections to Timor-L este. Bracks said for this article that his job is to “get Sunrise up.” When I asked him to rate from one to 10 his certainty as to getting the development going, Bracks demurred but said he was “very confident.” Gusmão's visit to Beijing will only add an extra torque to Australian deliberations and an extra coal to Dili’s always scalding hot rumor mill. The city has very much a Graham Greene novel feel.

Doggedness defines his bid to bring the Greater Sunrise gas onshore to the South Coast, despite some analysts discounting the plan as folly. Timorese research institute La’o Hamutuk estimated that capital investment needed to build the entire south coast project as more than $19 billion U.S. dollars. La’o Hamutuk researcher Charles Scheiner queried whether “the actual public benefits of the project will outweigh its costs and risks, in an era when the world is moving away from fossil fuels.”

Is Australia changing tack? In a speech in Dili in July, Foreign Minister Penny Wong acknowledged that “Australian governments have acted in ways that Timorese people — and many Australians — found disappointing.” Wong didn’t specify further but it’s a long list, everything from Gough Whitlam turning a blind eye to Indonesia invading to espionage. Her words went down well with Gusmão, who wrote in a response to questions from the author (he turned down a request for an interview) that “Australia is committed to working with us, including on the development of our petroleum industry … the appointment of Steve Bracks … as special representative for Greater Sunrise demonstrates this.” (Gusmão turned down the author’s request for an in-person interview.)