Member Info for passiton

Dont put any stock in the seismic its been done before both shell 2d in the nineties
and the same data now being rerun with new tech from 2012 both Chuditch is a
big field just not sure how big due to ghosting on the images the only thing it might
do is confirm shells thoughts back then that the discovery drill area is likely one
massive field they had over 5 tcf (850 mboe) with upside
The freeze on the area for 20 years has always been the industry players wanting to
do one thing and the Island wanting to process all on the Island which never got off
the ground and still have not , that is why Shell and others left with customers that
had been waiting since 2002 with Woodside production at Darwin expected 2004

Its a step forwards at least they are talking again and looking to progress Sunrise if
a successful agreement reached and a funder found for the project onshore the
whole industry will want a piece of the pie

The 11 new offshore licenses in the current bid round all expected to be gas charged as
all on trend with dozens of large gas finds in the Australian and Indonesian waters on
either side of its designated area in the Timor Sea which is underdeveloped and decades
behind them Sunrise discovered in 1974 and still looking for a home

the plan was assessed years ago and all bar the Island dismissed it as economically unviable
and although possible geologically very expensive and challenging to place a pipeline across
the Timor Trench
So now we wait again and see what's different this time ( a funder for the project ?) or are they
still digging their heels in on a plan that has previously been dismissed by all bar the Island

Shaa you got a spare $16 Billion in your copl profits when it roars to 3p haha

Not getting to excited just yet the we are committed has been Timor 's line for many years
so its NO CHANGE to their rhetoric that is why Shell and others left in the first place all
talk and no actual action forthcoming
Timor wanted them Shell , Conoco and Woodside to pay for the estimated $16 billion plus
build when they already had a plan for Shells korean built super barge FLNG much much
cheaper and Woodside also the offered it they said would happily keep running the offshore
operations but had no interest in their onshore offer
The FLNG plan replaced the original looking to produce from 2004 consortium plan to
pipe and process at Woodside LNG refinery facilities at Darwin
Something has to give one way or the other the Island cannot afford to do it themselves
so WHO is going to stump up the funds for the pipelines to the Island and the onshore
facilities ?
Still a lot of questions to be answered but at least the ball appears to be back in play

https://www.upstreamonline.com/exclusive/timor-leste-eyes-new-dawn-for-sunrise-lng/2-1-1063555

https://www.upstreamonline.com/opinion/opinion-petroleum-success-could-raise-spirits-in-timor-leste/2-1-1064171

https://www.naturalgasworld.com/santos-oil-search-finalise-a21bn-merger-deal-91957

Said expected the news to flow prior to the bid round closing at the end of the month
Timor and Australia finally talking about moving Sunrise forwards , Chiditch and Kelp
also in the advancement plans for future production
Santos just completed a huge merger WOOOOOOOOOOOW

a few charts going around that agree with that Shaa , looking at an initial move into
the 0.70-0.80 range which would be a nice springboard when the news flow does hit
q3 revenues , nigeria , new asset ceo has teased with etc etc

Shaa
you are about to hit another jackpot read latest links and post on Baron (boil)

Excellent news for Chuditch as they have committed to try to reach a quick agreement with Australia
to move the project forwards the question is can they , they have been here before and then agreed
to disagree on the viability and cost of building on the Island plus pipelines from field to Tasi
If plan to build where is the estimated a few years back $16-20 Billion to build it to come from they
have previously offered it to all the regional players YOU pay to build it and operate it all declined
that generous offer including China's state owned Belt and road initiative

Its a step forward but only that they have argued the toss for decades fingers crossed they have
finally come to their senses to either get on and actually build or let the sector experts get on
with it

a nice little rns from Baron on Monday would not go amiss

problem is it still does not stat HOW they are going to progress things carte blanche for
operators to choose how to produce and sell or are all still waiting YEARS for them to
build the 20 year promised on Island facilities for large scale lng exports a second lng
small scale import facility to supply conversion of on island power stations
Plus roads , port , infrastructure and plan also included a new Airport nearby to
transport heavy equipment on to the island and supply offshore rigs and fields

https://www.upstreamonline.com/exclusive/timor-leste-eyes-new-dawn-for-sunrise-lng/2-1-1063555

https://www.upstreamonline.com/opinion/opinion-petroleum-success-could-raise-spirits-in-timor-leste/2-1-1064171

https://www.naturalgasworld.com/santos-oil-search-finalise-a21bn-merger-deal-91957

Already posted them filthy with an interesting development at region Australian player Santos

pretty conservative imo original assets at Atomic worth $200 we now have the Deeps drill
with a confirmed discovery and half a dozen new layers to play with and add further $'s
in reserves
Nigeria to return at some point Essar in charge on that one with a plan on its web for an
initial program of 21 wells each targeting 5000bopd plus on the first of 4 discoveries to
be developed on opl 226
88e got to £475m on fumes and various boards gas and hot air on the excitement of finally
finding some moveable oil in an area that is saturated with it

""""WE ACTUALLY HAVE OIL"""

https://www.upstreamonline.com/opinion/opinion-petroleum-success-could-raise-spirits-in-timor-leste/2-1-1064171

Need a subscription but headline has 4 projects that could

1 Bayu chasing 30mboe gas reserves main field depleted
2 Buffalo chasing 30-40mbo reserves ex bhp oil field
3 Sunrise in waiting 8 tcf gas and 240mb condensate
4 ???????

only other worthwhile one I can think of is ours, take shells almost 6 tcf with upside or
Barons original drill area only 3.5 tcf either way a huge, nay , as Allenby said world class
asset

https://www.naturalgasworld.com/santos-oil-search-finalise-a21bn-merger-deal-91957

and Santos beefing up with a huge merger

https://www.upstreamonline.com/exclusive/timor-leste-eyes-new-dawn-for-sunrise-lng/2-1-1063555

Just published looks like Sunrise coming to life , which means game on for Chuditch

out of kilter

could be cransley or at least shifted another good wedge today take all the daily routine
trades flags xlon xlon and the ones with ecru ( 1p to £300 max) and today we had what
appeared to be our seller with 6/7 delayed 2 after close and say 6/7 as the 12:54:14
trade was printed delayed twice for some reason ? that made a total of either 315m
or 340m (7) sold with those same details
We also had what appeared to be a buyer new? that triggered the rise after 3 trades
for a total of 250m and a completed after close 6,938113 the only 4 all day with flags
echo xoff totalling £807,742 and 256,938,113

Think we might finally be primed to pop , now just need the news flow to keep the
blue sky momentum going for a rerate to a more realistic asset valuation as the
current NAV against market capital our of kilter by a long way

Shaa look at the times of the latest 2 against the ECHO XOFF buy trades

buyer 125m at 1211 flags ECHO XOFF
buyer 100m at 1243 flags ECHO XOFF

offsetting delayed sells printed after close ?

seller 1206 125m flags LRGS XLON
seller 1243 100m flags LRGS XLON

Same size and time wise 1206/1211 1243/1243 for the two pairs do not believe in coincidences
could be an across market transfer if so would expect to see 2 TR1's coming soon with a large
drop in either HSBC or RBC and a new player in the game at some point with a rising holding

Monday certainly looking like its in the fun zone have a great weekend all

08:01:33 0.31 GBX 10,000,000 £31,000.00 Off-Book P LRGS XLON XLON
10.13:35 0.31 GBX 10,000,000 £31,400.00 Off-Book P LRGS XLON XLON
12:54:14 0.31 GBX 25,000,000 £78,500.00 Off-Book P LRGS XLON XLON
13:12:43 0.32 GBX 20,000,000 £63,000.00 Off-Book P LRGS XLON XLON
12:54:14 0.31 GBX 25,000,000 £78,500,00 Off-Book P LRGS XLON XLON Repeated between 1452-1502 trades
12:59:03 0.32 GBX 25,000,000 £78,750.00 Off-Book P lRGS XLON XLON
/
12:06:19 0.31 GBX 125,000,000 £392,500.00 Off Book P LRGS XLON XLON
12:43:15 0.31 GBX 100,000,000 £314,000,00 Off-Book P LRGS XLON XLON

Yes another 2 matching the earlier flags and another late completion trades with the
other flags

12.55.11 25,000,000 £078,500.00 ECHO XOFF
12:43:08 100,000,000 £314,000.00 ECHO XOFF
12:11:45 125,000,000 £392,500.00 ECHO XOFF
/
17:06:29 0.34 6,938,113 £23,242.68 ECHO XOFF

yes I did Tiburn haha

as I said the other day the leasing and sub leasing that goes on in the USA is a minefield
different depths have different owners on the same acreage or consortiums float the %
of contributions to any new individual or multi well program and if someone cant pay
others in the consortium take a bigger stake to the point sometimes outsiders invited
in just for that well/s event

Learnt a lot when in some dubious AIM minnows with dodgy CEOs like NTOG Lofgran
and some dabbling with USA oilers , the only thing that is certain is the operator lease
holder has all the cards and as far as I am aware COPL now fill that role vice previous
atomic owners
So our CEO can pretty much play his own game on timetables and the rest have to fall in

08:01:33 0.31 GBX 10,000,000 £31,000.00 Off-Book P LRGS XLON XLON
10.13:35 0.31 GBX 10,000,000 £31,400.00 Off-Book P LRGS XLON XLON
12:54:14 0.31 GBX 25,000,000 £78,500.00 Off-Book P LRGS XLON XLON * sent twice?
13:12:43 0.32 GBX 20,000,000 £63,000.00 Off-Book P LRGS XLON XLON
12:54:14 0.31 GBX 25,000,000 £78,500,00 Off-Book P LRGS XLON XLON Repeated between 1452-1502 trades
12:59:03 0.32 GBX 25,000,000 £78,750.00 Off-Book P LRGS XLON XLON

All above delayed late prints dropped in by prices on exchange at time place our seller

12.55.11 25,000,000 £078,500.00 ECHO XOFF
12:43:08 100,000,000 £314,000.00 ECHO XOFF
12:11:45 125,000,000 £392,500.00 ECHO XOFF

3 trades within 45m that appear to have triggered the rise , a new buyer ?

Looks like Monday should be in the fun zone, some news to keep the momentum would
also be useful can you hear us A.M rns rns rns any good one will do

Quiet day but again today strangely the AQSE keeping pace with the main exchange
16m v 13m as we drift into close