Member Info for passiton

After 2 decades of TL/OZ impasse and little/no interest from elsewhere, in the past month.

Dates set for Timor Leste membership to ASEAN and the WTO in early 2024

China Mou with the TL ministry of Strategic Planning and Investment ( Xi mentions his BRI to come in) Strange statement , considering BRI have been active on TL for 20 years, built the Government Palace, Roads, ports and more, can only mean, they are now prepared to enter the LARGER PROJECTS.

UAE, Indonesia, Japan, India and others, also committing to increasing their cooperation, in developing sectors, all mentioning , the Oil and Gas sector...

Metinaro Final investment decision (FID) Imminent (Q4 2023) Gas/LNG Import facilities and 90 day tank farm, near Dili

Chuditch drill or drop (summer 2023) was extended around the time that expected FID announcement made, to me making Chuditch FPSO a prime candidate, to supply from 2025/26, long before Beaco if/ever operational. 🤔

After 22 years of Sunrise only, going around and around in circles , everything now hitting or about to hit the headlines.😉

News should now come soon, when it does, Boil sp will move like a rat up a drainpipe, VERTICAL take off....GLA

After last weeks news, the UAE to increase cooperation, in various sectors, including Oil and Gas developments, today TL announce , the opening of a TL Embassy in the UAE...... 😉

https://en.tatoli.tl/2023/10/16/timor-leste-to-open-embassy-in-uae/14/

The Ministry of Petroleum and Mineral Resources, in partnership with the National Petroleum Authority (ANP- Portuguese acronym) and the International Finance Corporation (IFC), organised a seminar dedicated to the legal and regulatory framework for Carbon Capture and Storage (CCS) in Timor-Leste.

The event, which took place from October 10th to 12th, 2023, at the Hotel Timor in Dili, was attended by the National Maritime Authority and representatives of ministerial lines, including Defence, Interior, Trade and Industry, Transport and Communications, among others.

The event's objective was to promote discussion on establishing a legal framework to encourage the development of CCS projects in the country.

The CCS initiative represents a crucial technological step towards substantially reducing carbon dioxide (CO2) emissions, something Timor-Leste considers of great importance, especially as the Bayu Undan field nears the end of its production.

The Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, stated that “the world is moving towards decarbonisation“ and that “the technologies adopted by the oil industry aim to maintain oil production while ensuring a significant reduction in carbon dioxide emissions into the environment”.

“The CCS project aims to stimulate the national economy, create jobs and increase state revenues. It will support oil production while reducing carbon dioxide emissions,” he said.

Francisco da Costa Monteiro also stressed that “the Bayu Undan field has optimal geological conditions as its operations come to an end” and that “these conditions are conducive to the capture and indefinite storage of carbon dioxide for the future”. He added, "There is great interest, not only from Australia but also from the region, in commercialising CCS to our nation”. 🤔

While the industry media, still think it's going to happen in 2024, I guess ceo J.A. Slothsnail , will get it done this time. 😂

https://www.offshore-technology.com/data-insights/oil-gas-field-profile-njonji-conventional-oil-field-cameroon/?cf-view

Tatoo, the contract boss, the contract

Roarke, no worries my little friend, its almost in hand

Tatoo, but boss, I see no pen in hand

Roarke, look deeply , it will emerge from the sands (of time😂)

Tatoo, ok boss, so all can continue to Whine

Roarke, I promise , one day they will wine and dine........

Tatoo, but boss you promised, I would become 6ft tall in the 70's

Roarke, 70's, as will Tower's sp ONE DAY Tatoo, one day! 🤣

So the eternal rounds of JV talks (some years 10-20 meetings) have gone round and round in circles, Woodside wanting Darwin or FLNG, which when proposed by Shell, Woodside adopted as its primary also, over its own built Darwin plant.

They (as in OZ/Woodside) have known, it can be done at risk/cost, since the 90's, they have also known, the Island have had only 1 option on the table, its ours, it comes to us BUT no money to do it themselves and no International support for the OLD plan. That has changed in the past month, China and Xi (Mr BRI) Signing off on support , others in the region and the middle east , also looking for broader development co-operation with TL, mentioning Oil and Gas.

That will now bring Woodside to the table, as it has now become, a use it , or LOSE it scenario and at the end of the day if it costs a bit more, so what, Greater Sunrise is Sunrise 5 TCF+ and 225-250mb condensate (Troubadour) estimated pre gas price boom, worth $60-$70 BILLION over its operational life span (30 years max) at the Oil and Gas conference in 2021 what is that in current prices ?. Certainly not something, most companies would want to walk away from.

JV Talks this week, Meg is now sitting looking at her laptop, feeling like Jeff Goldblum, TIMES UP !!! 😉😂

In the late 90's Phillips Petroleum (now Conoco Phillips) came up with 3 options, to take its then Bayu Undan Gas field to the Island, the option decided on a innovative suspended pipeline, below shipping levels, as with the trench being seismic in itself, a pipeline could not be "fixed" to the seabed, the suspension pipe, would be held in place by wires and large concrete blocks on the seabed. Equipment and materials have advanced a lot in the past 25 years since Phillips studies, so presume something better than pullies and blocks available😂

Phillips had the trench up to 3300m (10,800 feet) in places, it was put to shareholders , who blocked it on a Cost basis, estimated at 2-3 times the cost of going to Darwin very shallow waters , plus the additional risks/costs of maintaining the suspension. Phillips built , owned and operated the Bayu-Darwin line from 2005. While the area known as the JPDA, joint petroleum disputed area ( maritime boundaries not settled until 2018)

TL have NEVER had any other options on the table since 2002, when they spike Sunrise going to Darwin, when Woodside already had commenced building their own Darwin facilities specifically for Sunrise, with productions set for 2003, JV partner Conoco Phillips already having offtake agreements for the majority of Gas to customers in the USA, Similarly JV partner Shell 2008 announced FLNG for Sunrise, again spiked by TL , you can wait for Beaco. Shell 2009 decided they would be leaving, Chuditch went to Mitra, Shell and Conoco finally departing Sunrise 2018 deal, 2019 paid, when TL stumped up $650m LOAN to Timor Gap, to take Shell/Conoco 56%, the JV having spent over $400m on developing Sunrise, with it being on care and maint, from 2004 (as it remains)

September 2021, Boil/SG talk FPSO, TL announce vice old plan (sunrise only) new studies with a Sunrise HUB and that CHUDITCH, Kelp and Sunrise, would all be co-ordinated development, to ALL feed Beaco together once operational.

So you can see why the rest has also stalled, mistrust, will TL finally give a first YES to anything else, or do all roads still lead to Beaco ? 🤔

The dramatic storms on the back of Covid, brought forth another plan, METINARO P.I.T. with a timeline of 2025 , vice the still tenders for 2030 Beaco, the Petroleum Import facility, includes elements that were originally planned to be located at Beaco, including the Gas/LNG Import facilties, for the Islands own domestic supply, switching from Diesel to Gas ( 3x Power Stations)

The new complex is on the North Coast near the capital Dili, now making our FPSO Chuditch , a prime candidate to supply it AND most importantly, it will suit and be of benefit to the TL Gov, this is were, imo Andy Butler and his Sundagas (2016- still going) association with, preparing and training the Island, will be the difference, in getting that big fat YES ! 🤔

3 further studies have been done for Sunrise , contractors for studies, all same sort of statements, can be done but at a cost, compared to the more shallow water routes to Darwin ($400-£410m the recent estimate by Santos, for its planned HUB from Barossa to Darwin, blocked by Tiwi Islanders in the courts, so still looking for a new HUB, Chuditch for e.g. would be an almost straight line to Darwin and avoid Tiwi Island waters, Barossa and ENI's Evans Shoal could also as originally planned be sent to Darwin (pipe west) via that new HUB , where ever it ends up being.

GP

The ghosting, blank area's , the depth perception, the plover levels, where all over the place, higher, lower , blank much higher again type of patterns, so little certainty on the WHERE it actually was depth wise. The seabed moving at around 30ft per 25 years (from the original Bayu - TL , Conoco Phillips crossing the trench studies, they came up with a suspended pipeline , below shipping and held in place by wires and concrete blocks, that would move with the seabed.

Major shareholders vetoed that option, as much more expensive and risky. Phillips then built and operated the Bayu to Darwin pipeline.

The Timor Trough is an oceanic trough that is a continuation of the Sunda Trench (Java Trench) that marks the boundary between the Indo-Australian Plate and the Timor Plate and the region is geologically active with numerous earthquakes.

3000-3500 deep.

Nice on Jarv

now just need someone to create some from Dunrobin (having paid us to go away 😂)

The 3rd party sites like this lse (south east) have for decades used a similar dimbo algorithm, based on what IT sees as current Mid and range , hence so many posters , I just bought or sold but it came us as a ... , on many boards daily.

The BEST GUESS has been in operation forever on sites like this.

All above MID Buy (never the case)

All below MID Sell (ditto)

All exactly on its MID, delayed , or it now sees outside of ITS range , chokes and UNKNOWN.

If it now indicates, its a new addition (very recent) until a few weeks ago, they all ended with XLON XLON for place trade conducted and place of publication, that since the recent upgrade only shows the one, other venues and places of publication also published on the real LSE

e.g. P LRGS AIMX AIMX , for a delayed trade , AMND or CANC vice the lrgs slot, for a reprint and then publication of the AMND if that was the case (on 3rd party sites indicated by a HYPHEN )

Under the WHATS THIS , use to be an extensive looooooooong list , now just using a single field and most of that list removed, commonly 1700-1800 the spreads published , they ended ECHO XOFF (OFF exchange) vice AIMX AIMX or XLON XLON

https://www.londonstockexchange.com/stock/BOIL/baron-oil-plc/company-page

NCT

every trade, every share , every day ALL BEST GUESSES, never fact, the worlds market do not label, so many on every share daily , labelled incorrectly in both directions, even some of those on/near both limits. BUT its the only guide we have, stats likewise pointless and results in cries of buys 6 to 1 and no rise, as in Reality, trading volumes around even. 🙄

No mm games or hocus pocus etc, just a really 💩💩💩💩labelling system employed by 3rd party sites like this one

GP

Shell had multiple other leads but its primary three were, Chuditch (ch1 drill area) Wombat and Bilby , those became Chud North and South West, under the new Timor Leste licence (prev oz license designator) Shell theorised that all 3 were linked and one giant gas field. The problem was the Timor Trench, which is constantly moving and noisy, affected their own seismic and the later Kyranis 3d survey, the full rerun by TGS for the bid round and the partial done by Boil done in psDm mode, appeared to link 2 of the 3 but inconclusive, better than the original, which suffered major ghosting and depth perception errors, due to the trench vibrations. Hope that helps.

The several other leads further to the South and South west, (our new Quokka being one of them) Shell thought possibly Oil but more likely large Condensate fields, as a lot of similarity to Troubadour 230mb condensate which together with Sunrise makes the often given name of Greater Sunrise in various media.

Ideally its just another snail paced plan, that can be kicked to the kerb, by a bigger player, taking out the minnows, without operator that hold that over 200mbo oiip currently. They will do their own thing and MUCH quicker. 😉🤔

So true Brighty, if we ever get a JV/Sale, our cut around 66mbo, even if they gave us a $0.50c pbo, to go away, that's still a £27m wedge of cash for a fire sale. 🙄 add Chuditch and we are around 600 mboE, FOR SALE, 🙄

Not looking good for a FOMO Friday today, AQSE 1,837,441 Traded and AIM 15,850,582, not even a drip in the 19 billion shares in issue ocean, next week it is then. 😉😂

Only 6 trades in the first 90 minutes, the other 2 a reprint and amendment (price) from yesterday. (note the hyphen)

Just this sites GUESSING algorithm , getting it wrong as it does daily, on all shares and in both directions, looking across the trades and prices , the only real guide we have and it's still vague, only way we would ever know the true volumes either side is if , every trade was claimed like yours. 🙄