Member Info for passiton

also some stuff on the disappointing bid round and an update, non other than Timor
Gap itself have signed off yet.

https://www.laohamutuk.org/Oil/Bidding/220427EVEast%20Timor%20upstream%20licensing%20round%20disappoints.pdf

and
The winning bidders had until 29 June to sign the contracts, but on 8 November ANPM announced
that the process was taking longer than expected, and would be finished by February 2023.

The contract with TimorGAP for Block A was signed in Lautem on 22 December 2022.

Doubt anything fun in them but a couple of new files for March on Lao Hamutuk the
local independent NGO.

Rights and Sustainability: LH briefing on key issues facing TL. 21 MB Powerpoint or 5 MB PDF

Proposed Climate Change Law and documents

https://www.laohamutuk.org/index.html

That is an interesting line CDF

aimed at sharing information on issues relating to the oil sector as well as Greater Sunrise.

Suggests, something other than Sunrise , the main talking point, how curious.

Further evidence Oil (Dunrobin) will be in demand for decades to come still
Joe Biden (anti oil gov) have just permitted a huge operation that could be
188,000 bopd on the Alaska North Slope.

Good news for neighbours 88E also

https://www.bbc.co.uk/news/world-us-canada-64943603

Who knows where that Chuditch sale could go CDF

Ideally , Woodside/Other in league with the Island, announces funding for Beaco
or they publicly back Sundagas as they did in 2019, the assets are present, the
wider sector news develops, the more chance of the departed Majors returning.

Cash flush with billions in profits, prepared to flash that cash and fight for Chuditch
it happened to cove, Thailand won the gas and lng supply and it is a lot closer to
Timor than Tanzania, lol. GLA

As for the buy /sell , the markets do not use them , only sites like this one
GUESSING.

have seen delayed trade for 3 days, Maurel Prom buying on the open
market for a mere £6 million squids worth over 3 trades, one each for
3 sessions, all reported 3 days later, at big premiums to the highest
price available each of those days.

Once they were saited, that's when UKOG roared from the ground floor
to near 12p a few years ago.

As Dunrobin was referred to as the biggest , undeveloped discovery in the North Sea
at over 100mbo, after it's recent upgrade to over 200mbo still with upside leads.

Be very surprised if some talks not already been held , informally.

Forget the name, posted a while ago, some Norwegian Investment Group, joined at the
hip with several sector seniors, had already grabbed around 6 North Sea licenses last
year, our Dunrobin -Discovery drilled lots of Oil, right down their street. Who knows?

The sale of company , is like one of those question on family fortunes
the presenter crying, if its up there, I will give you

Boil is an Investment in assets company, it hold through subsids, so it is the
subsids that will be sold, Sundagas the o/g company doing all the heavy
lifting with Boil funding them, as they have since 2019, long before getting
to own 100% of them.

Already making plans for their next ventures and will be hoping a very nice
war chest heading their way, several statements about looking at other assets
and entry into the new North Sea license round.

Mission statement , to build a Portfolio of assets.

Be staggered, if any Major or Tier1 would want the host admin company, they have
plenty of their own, lol

The recent Corallian take out, they were the Operator/Driller of Dunrobin, Shell having
said last year , no interest in new Oil ventures, cherry picked Corallian and its drilling
arm and the advanced Viking Gas license.

Dunrobin and its other North Sea oil licenses, fire sale to RBD for only £250k the lot, RBD
already owned around 50% of Corallian , via its regular funding of their drilling operations
so set for a nice windfall soon, think it was around 12 million.

Take that as for the 50% of Viking and that gives 24 million for a gas asset , less than 10%
of the size of Chuditch, another ball park ref, of what a Major like shell might pay for
Chuditich x 10+ is 240m+

The upgrade for Dunrobin has us around 66 mbo of it, we all know the price of oil , a
sale of that alone for £1 a barrel , would still be a figure well beyond our current market
valuation.

In the current environment , Majors/Tier1's all cash flush, be a brilliant time for the BOD
to cash in both and use that huge windfall |(cough) after a special dividend , to apply the
company motto, to fund a PF of high percentage holdings in new early stage assets.

Rinse, Repeat, minimum expense development, with your favourite share motto
buy low (cheap assets) and sell high (to a real oiler for mucho £££'s profit) GLA

So as stated in the recent RNA Message on rns news wire..........guess we might get a snippet
from Rolf , sometime whenever, lol, GLA

IMC's claim before the ICSID is for a minimum compensatory payment of US$ 63 million, plus
interest and legal fees, to be assessed.

The ICSID tribunal designated to hear the claims has now been constituted and the first hearing
is scheduled for 9 March 2023.

Only 107 million today (aim+aqse) , come on Andy gets some positive PR flowing.

Those 1 - 4 plus Billion share days, starting to be a distant memory
GLA

Investegate and GNW , worth keeping an eye on if you find yourself in a
share dual listed in London and the Nasdaq, often a double release, GNW
first , then rns 10-15 mins later, same internal text, just weirdly a different
header title.

Came in very useful with one of the covid shares, heads up before the crowd
saw the rns/alerts. GLA

The upside with GNW is, if they chose to they could release anytime
it's open 24/7 and would be rns relayed at 0700 on opening anyway.

Still about 6 other sources for RNA releases , other than rns but all get
relayed, until an upgrade about 18 months ago, the rns system had all
under rns, for some quirky reason, they now after all these years, give credit
to the origin source, when rns now probably over 90% of all daily releases
for London listed reports.

The Stock Exchanges own news wire rns lists vast releases

Headline Source Date Time
Board Update GNW 03.03.23 07:00:00
Report on Technical Programme for Baita Plai Mine - Exploration Target for Mineral Resource upgrade and establishment of an Ore Reserve GNW 27.02.23 07:00:00
Settlement Discussions Update GNW 06.02.23 12:00:00
Placing to raise £2,382,500, Baita Plai Update and Director Dealing GNW 06.02.23 07:00:00
Holding(s) in Company GNW 03.02.23 11:20:00
Settlement Discussions Update GNW 02.02.23 07:00:00

https://www.investegate.co.uk/Index.aspx?searchtype=3&words=vast

Prefer the words in the RNA Message lol

and its cheaper, Vast do not use rns, they use gnw for rna releases
rns relays them like all good little news wires

Our now 100% owned Sundagas, arrived on the Island in 2016 and helped them set
up their own industry organisations, additionally providing training and co sponsor
of the early presentations and conferences (home and abroad).

Out of the blue, Chuditch that was an Australian license under the JPDA , with Shell
then Mitra, after the new boundaries ratified, out of the blue Chuditch under a new
shiny Timor Leste license, reappeared as the launch showcase of the Island bid round.

In the form of a NON TENDER award of Chuditch to Sundagas (services rendered) it's
plans for development, PSC already agreed and the opening presentation of 17 new
licenses being also available.

They showcased SG/Chuditch, to set the ball rolling, would not rule out , them scratching
each others back's in the media once more. GLA

As said a few times, lol, the Timor Government could do themselves a very big favour
and get the industry back onside, after all the years of impasse a great move for us and
them, would be to come out and support Sundagas plans for Chuditch via FPSO, with
a side order of , they will take all the initial gas themselves, for the Northern Metinaro
PIT, petroleum Import terminal.

They stripped the PIT away from it's original co-location with Beaco on the South Coast
WHY? if not to get it completed much earlier than Beaco's 2030 tender, with Parliament
statement, all 3 power stations to be converted to gas by 2025, the PIT to hold supplies
of all fuels, including a Gas/LNG tank farm, to hold a 90 day domestic security supply.

System currently found severely wanting, during covid and the mega storms that followed.

Why strip away and why turn to expensive imports, when they have Chuditch available to
give them that security blanket, much cheaper, dealing with TG and SG.

Cove offshore Mozambique / Tanzania, for a similar, got an initial bid
from Shell, who eventually lost to Thailand's NOC for $1.25 Billion.

As you said, lots of cash flush Majors and Tier's reporting 2022 profits in
the 25-60 Billion range, Saudi's Aramco $164 Billion.

The gas will not go away with green energy and quota's, recent articles have
all stated the new buzz , Green/Blue Gas, will still be 40-50% derived from
Natural Gas sources.

And very much a cut price for Timor, the consortium had spent over $400m
on developing Sunrise until they mothballed, care and maint from 2004.