Member Info for passiton

https://www.timorgap.com/our-business/downstream/downstream-projects/

Only 3 , outstanding issues, otherwise Timor good to go.

Bettano - Oil refinery still needs work, Timor Resources (On shore Oil) have offered
to help fund the work required.

Metinaro - Various Petroleum Imports, including LNG , for its power stations.
Budget funding in place , FID 2023, who will supply that LNG

Beaco - LNG Exports from Sunrise HUB pipeline, WHO will fund/operate.

Dunrobin previously called the biggest , non developed discovery remaining in the North Sea
at over 100 mbo, Upland referred to the much improved quality of data, when the seismic was
completed in July, with a bit of luck, that will firm up or even exceed the 100mbo mark.

We could be looking at the 3 current JV partners each having 35-40 mbo+, even a fire sale of it
to fund Sarawak, could bring $40m+ to Upland at $1 a barrel, at a 50% recovery $20m+

As Davies posted recently , at 2.5p our valuation is only £20m, with Sarawak to come.
Long way to go, something for all , short , medium or long term, all in play.

Ed on twitter sums it up

https://twitter.com/i/status/1613441465228615681

Australia , started talking a good game, with setting up, the Gas-LNG cooperation fund last
summer, after PM Rauk talked directly with the outgoing Australian PM, new man in the hot
seat Labour's Albanese, increased the funding. Time they walked the walk.

The Timor–Leste Australia LNG partnership builds on our existing industry and government
collaboration.

https://www.industry.gov.au/news/be-part-australias-liquefied-natural-gas-partnership-timor-leste

After Corallians departure, all three hold similar holdings, all should
boom together, if the seismic as good as we expect.

One of Uplands , earlier rns's , seismic data run completed, then mentioned data
quality has exceeded their expectations, we wait to see if the volumes do the same

They like us hold other assets, poster on the rbd board, expects them to get
a rise on the back of Deltic's North Sea find at pensecola, rbd have simwell
right next door.

Upland also expecting an update on it's primary asset, Sarawak Indonesia
so they like us, could rise , pre Dunrobin news for other reasons.

Creation of a National Procurement Commission ?

Procurement of long lead items for Beaco/Metinaro ?
Procurement of Chuditch Gas for Metinaro ?

The Highway Code ? is that for driving lessons , or use of the Highway, if the first, strange
that the PM himself presenting it ?

Election, expected before May, with Gusmao expected to be running for office. Checking it
over before the expected, large number of Foreign Election observers arrive on Timor.

That must have been a separate , one on one with the Minister of Petroleum

Yesterdays cabinet meeting notes, still not available in English but Portugese
version is now available and translates nicely. Highlights below others from
Ethics to Breast milk.

Approved was the draft Decree-Law, presented by the Minister of Finance, Rui Augusto Gomes,
on the creation of the National Procurement Commission (CNA), IP

Approved the draft Decree-Law, also presented by the Minister of Finance, on the Execution
of the General State Budget for 2023

Approved Fifth amendment to Law no. 6/2006, of December 28, which approved the Electoral
Law for Parliament National.

Presentation by the PM Taur Matan Rauk and the deputy minister of the interior Antonio
Armindo, of the legislative options underlying the creation of the new Highway Code.

http://timor-leste.gov.tl/?p=31725&lang=pt

Not a chance, Cobra famous for hitting ya for six, with clean sharp strikes
like Hales on a good day.

Full scale Rip Van Winkle, since September lol

Think the way they left it , Horta calling Australia and Woodside BULLIES
far more chance of us and Chuditch being called up front and centre, in
the near term for the more urgent domestic fuel and electricity security.

Think we should contact William Hill and get some odds and prices on the
Tasi Mane stakes, Australia , China, Indonesia, Japan , Korea , UAE, Qatar
100-1 bar

Probably why they are getting worried and making threats, to Woodside and Australia
have reached the point of no return, have to get both the Import and export facilities
up and running, or face the music, with the International advisors and NGO's , shouting
told you so many times.

All the governments , not just those with our two main men involved, have been slated
time and again in the press , for spending so much , when no deals or agreements in place
and money could have been used all these years to fund other sectors and social programs

Would need to remove them while still engaged in studies, to move things on,
another not so great move to get the wider industry back on side.

Hey maybe Gusmao met up with Meg and gave her a good time and she gave in
to more than just his plans

Unless something from left field, Woodside doing more new studies and have
said many times, PSC needs to be in place, before the next steps , be those, it
goes to Timor or Darwin.

The 6 month fellowship courses, six months long, also supposed to start this
month, jobs for top candidates on offer.

No shortage of training, is physical stuff that's still missing.

Timor Gap has grown from, not a lot, to a workforce in the hundreds, likewise ANPM
been recruiting loads the past 2 years and continue to do so, cart before the horses,
invested a hell of a lot of a limited wealth, manpower , roads, highways, Airports and
ports.

Must have missed that one, when was Sunrise sorted lol

Reading that stuff looks like the survey, was of Timor itself and the foundation
for the Onshore Oil and Gas and Metals/Minerals development

When you go on the ANPM website, this flashing over the homepage, Minerals stuff

http://www.anpm.tl/wp-content/uploads/2023/01/JORNAL-da-REPUBLICA_Resolucao-do-Governo-No-35-2022-de-16-Dez-22.pdf

Must have been on the old site, not seeing that today, took a look on ANPM and
they have some OLLLLLLLLLD, intro stuff on the IAGS

http://www.anpm.tl/first-seminar-on-integrated-iags-project-implementation/

For any newbies, worth a read , on what Timor could turn into, with progress.
as in previous post, if it's present, two websites, old and new and both keep
falling over, as well as needing updating, like Chuditch.

https://www.timorgap.com/newsroom/in-the-news/