Member Info for passiton

Chuditch up for JV / Sale, talks ongoing

China and TL Oil and Gas MOU, Several other regionals also have stated interested in Oil and Gas cooperation.

Santos/ENI/SK Korea JV , looking for more timor sea assets and a new HUB to Darwin, if Barossa/Evans Shoal HUBremains blocked by the courts/Tiwi Islands. CEO said Dual pipeline project will go ahead, old Bayu pipe, output

carbon/wastes, new pipe to its now IDLE refinery, set 3-4 year deadline, to resume Darwin production (1 year in)

Woodside signed an MOU with the Japanese Government Bank, to obtain domestic security Gas/LNG for many years.

According to the local Lao Hamutuk NGO (past few days) TL, Australia and Woodside now in ACCELERATED talks to bring Greater Sunrise (sunrise 5tcf / troubadour 240mb condensate) to a new site Natarbora and not the talked about for over 20 years Beaco (replaced) WHY ?🤔

Timor Leste 2nd project Metinaro PIT FID due now Q4 2023, around the same time that was announced, Baron extended its Chuditch drill or drop from June 2023 to December (coincidence ?) Metinaro Gas/LNG Import facilties and 90 day tank farm would be an ideal opportunity for Chuditch FSPO.

When Shell decided they were leaving, had to wait to shift Sunrise (TL fund loan to T/Gap years later) Chuditch was moved on to Mitra, who also planned FLNG, when Sundagas formed and moved to the Island 2016, part of the new bod were from Mitra, related Dr Butlers on both boards, brought Baron in on the action 2019.

Andy Butler, recently also added to the Baron board, has EXTENSIVE regional experience and contacts, through his vice presidency of SEAPEX, he imo is the one that will put the puzzle together, not bedroom presenter Yeo ho ho. 😉🤔

i became more confident ja will pull his snail paced lard **** finger out, a few weeks ago when the usual , kick the can down the road statement on looking for a rig, changed, not his usual waffle , talking about talking getting a rig , to being close to getting a rig long slot.......gla

Tower after JA's out of his depth scrambling around, we are getting finance and drilling , next year, oh that will now be another year, rinse repeat actions, has left Tower breathing with a snorkel in the flooded basement, priced to FAIL, as you know CDF, for me the SP is mostly meaningless, unless you are a visitor, trader/skimmer/scalper investing but not an Investor, the measure that only ever counts, is the Market Cap value and from here , with 3 good/great assets, only BLUE days and skies, IF he ever gets one over the line, Cameroon only the platform (production/revenues) the real money here comes on South Africa and Namibia.

Others enter shares for the next spike, as you know m8, I Invest for the Journey, as said priced to FAIL, any positive news and its 💥💥🚀🚀🚀 traders happy and investors on their way.......... GLA 😉🤔

😂🤣😂 CDF, you know me well m8, glass overflowing and a case waiting at the side to refill 😉

Will not be a takeover, just a sale or two, Sundagas own 75% of Chuditch, we own Sundagas, it will either be diluted JV or SOLD off, if as he said in the presentation, "the price is right", likewise our holding in the Dunrobin JV will be the same. Baron an investor in assets , not an Oil and Gas company, get in cheap, early development, sell on for profit, rinse ,repeat

For Baron in the case of Chuditch, the bigger the fish moving in the better and ideally a sale, Shell had Chuditch down as probably bigger than Sunrise overall across the license, that had over $400m spent on development with a lot more to come, the plan was 26 - 28 Wellheads FFD by FLNG (like Darwin Refused by TL) What's that in 2023 £'s.

Baron can not afford to stick around and it's not their plan, CEO/Presentation Feb 2023, get a large windfall, probable shareholder dividend and war chest for the next assets in the Baron Portfolio.

Sunrise, until the Darwin and FLNG NO's from TL, was 3 Majors plus Japans Osaka city gas (offtake) , we are as earlier posted said , a minnow, looking for a partner to fund the next step, another small company joining us, looses, as Baron's holding will be reduced and the other co will benefit from the % we handed over, as they will likely be looking to sell on after the first appraisal drill also. Big partner big bucks coming Barons way, be it JV or large £ millions outright sale.🤔

Bird in the hand Yeo ho ho, not more massive dilution of both share base and asset 🙄

Sunrise had over $400 million spent on its development before being mothballed in 2004, after Gusmao refused permission for it to go to Woodsides being built for it specifically facilities in Darwin production from 2003 , two or three years before Bayu an Australian license like Chuditch at the time, would come on line, what's that in 2023 money? and still millions required for the pipeline (santos new line est over $410m) additional wellheads , not to mention billions for the production facility to come.

Boil way out of its financial league to stick around beyond appraisal drill, if no outright sale achieved. 🤔

It's a big project overall, way beyond an asset investor and another minnow arriving, Shell who held both Sunrise and Chudtich said in the 90's , Chuditch across the entire license (not touched by Boil) could be bigger than Sunrise ,it ended up with 5 tcf (850mboe) and 240mb Condensate ,so basically almost 1 billion boe. Sunrise was originally 3 majors plus Osaka city gas Japan, who are only interested in the offtake product. As said Boil and investor , not a producer, Sale now

or after the drill is their remit and game plan. 😉

This is all about getting it sold or a next drill and then sell, Boil is not an oiler ,its an investor in assets, early develop, sell rinse repeat. Two JV/Sales in play, Chuditch and Dunrobin, as Yeo ho ho said in the presentation earlier this year , both are very much FOR SALE, at the right price, best option for us, Sales, shareholder dividend and cashed up for the next assets to join the Baron PF. 🤔 New assets being looked at already and likewise Baron entered the latest North Sea bid round, new on that also not far away. 😉

What price Shell returning to take its Chuditch ball back ? , they were hammered in the European courts a year or two ago for it's failure to lower emissions, previously cited, Shell also declared moving away from Oil, now to concentrate on Gas/LNG both resources and Infrastructure (TL refineries ?) and Green projects. Quite funny as they then hit billions of barrels offshore Namibia 😉🤣 Likewise they were part of the original Greater Sunrise multi major consortium. 🤔

Not to mention, others probably taking more note of recent events, as the area , now appears to be opening up 🤔

But at least we now have possibilities, not zip going on and all sitting on the fence

China MOU

Australia/Woodside

Japan/Woodside MOU

Santos/ENI JV

If it happens , it would likely be ENI/Santos and the Koreans, the current Bayu JV partners, who also have MOU's to obtain and develop more Timor Sea assets (not just TL part of it) Barossa (santos)and Evan's Shoal (eni) were next, from a new HUB at Barossa to Darwin (their own facilities now idle since Bayu stopped flowing) Barossa blocked in the courts by Tiwi Islands, nothing to stop them flowing both West to a new HUB , be it in Area P (ENI), Area R (Santos) OR even our Chuditch , new input pipe to Darwin, south then run parallel with the old now being converted to carbon/waste.🤔

Yep, Xi likes to keep his promises and he and Gusmao (Tasi Mane etc his baby for 20 years) spoke Oil and Gas

3 days after the MOU signed by Cabinet, China development corp and TL Ministry of Strategic Planning and

Investment, big moves coming CNOOC etc on their way, the only question remains is will Australia and co

stump up the funding for Natarbora (NGO Beaco scrapped for new site nearer Betano on the South Coast.🤔

All crossed tomorrows Timor Leste Cabinet meeting (default day every Wednesday) gives us something/anything

NGO must have got that change from Beaco TO Natarbora Gas/LNG Exports refineries and accelerated talks from

someone official, about Sunrise/JV, massive change , it's been NO GO, Wait for Beaco for 20 years, why new plan

now 🤔 Easier pipeline spot found across the trench (2800-3500 deep and seismic moving) a great big WTF 🤔

ASEAN full membership and membership of the WTO both moving close (last saw both early 2024) that will also

open more doors, if Australia/China do not come up with the finances soon. 😉

http://timor-leste.gov.tl/?p=34875&n=1&lang=pt

Apologies for the syntax posts corrupt, mine been like this since the last LSE upgrade but yay we got emoji's 🙄😂

from a little wonky, to a right mess every post, guess it's time to upgrade my comp ffs 😂

Nice Jarv, after all this time 🙄😂 It had not registered with me , a Santos rig was readily available, although

they still want a new HUB and pipeline of their own to their Darwin facilities, tempest fugit and all that, they

and their JV buds ENI/Koreans, had given themselves 3-4 years of zero production, until Bayu converted for

carbon waste (current Darwin-Bayu pipe) and already ceo said over 400m sat waiting to build the new input

pipeline to those Darwin fac's, Tiwi blocked the Barossa HUB/Line, so they need to kick on soon, or that 3-4

is going to turn into longer. Chuditch pretty much a straight line down an then run parallel with the old pipe

to Darwin, would be outside of Tiwi waters. (ya boo sucks) So IF TL will let them (old chestnut) Santos could

do worse than HUB Chuditch and pipe Barossa and Evan's Shoal to Darwin via it (original pipe plan Santos/ENI 🤔

Everything else, is in the lap of the gods, is as TL studies state Chuditch part of the Beaco, now Natarbora plan

or will our FPSO be given a first ever GREEN LIGHT for something else, have their own domestic supply to sort

which FPSO until Natarbora/Beaco? (last tender by 2030) Chuditch FPSO could do by their timeline of by 2025

with a new Senior JV/Partner, with or without Boil/SG 🤔

RATR, it just means the next well , is appraisal on the reservoir that contains the original Shell and consortium CH-1

discovery well, so will be CH-02, as for the rest , still not seen anything official on the NGO change of venue and

accelerated talks at this time but it's no surprise, the studies Sept 2021 leaked in Offshore Magazine, zip on any of

the TL sources , Gov web, Ministry, T/gap , ANPM at the time that leaked.

We still await a firm backing for Sundagas Chuditch FPSO, which their studies said Beaco, as its been for 4 years

TRUST and Clarity , awaited by the Sector, told for 20 years NO - you can all wait for Beaco and now it seems , that

plan has also changed to Natarbora ?