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Hopefully Boil can bring some better news forth before Christmas, or the snail paced Island now in tune with our own snail paced ceo , Yeo ho ho, announce Metinaro FID and even just a tenuous link to , as it says in the TL SDP , using Timor sea gas, Chuditch being involved , Chud spud 2024, Island all converted to Gas by 2025/26. Beaco Sunrise not in that game or timeframe. 🤔

As posted yesterday CDF, its extremely disappointing, after saying in February, they (Woodside) would now do new studies into potential processing paths, with an emphasis on the onshore TL option, checking out modular designs etc, appears now, have waited 8 months for a permission slip from TL to start them ffs 🤦‍♂️🤦‍♀️🤦‍♂️🙄

After the U turn then statement in Feb, it seemed the new studies would be completed by end of 2023 , not started 😲

Looks like they finally got the message, with recent moves to garner funds/Investment by China, Kuwait and the UAE. The original plan again, you pay for it all , take all the risk and we will pay our part back from our share of production, you can see why the Industry stayed away....... 🙄

Very young aggregate age nation, low education and prospects level for around 25% of the population, malnutrition and growth stunting common place, alongside many other social and health issues, those same leaders promised would be a thing of the past, wealth for all they cried from our oil and gas resource BUT it is they that have dragged all the projects and licenses heels, not Woodside, 2002 while almost completed purpose built refinery for Sunrise piped to Darwin, spiked by Gusmao, Sunrise mothballed 2004, in 2008 Shell announced new FLNG ships being built in Korea, first nearing completion and designated for Sunrise 26/28 wellheads and 4 million tons per year production - Horta NOPE...

They and others announced departing, Chuditch still and Australian license at the time within the JPDA Joint production disputed area, moved on to Mitra, who also set their stall out to FLNG Chuditch, years later Shell and Conoco Phillips departed Sunrise on compensation of a combined $650m for their 56% moved to Timor Gap paid for by A LOAN, still on the books for repayment to the Island fund, on commencement of production , deal completed early 2019, loan for it and other things still await Timor Gap repayments to start, zero production still.

Woodside ceo at the time Mark, stated his company would happily continue to look after offshore aspects and C & M of Sunrise but held ZERO interest in the onshore TL plan.

20+ Years of impasse caused by the demon duo, Gusmao and Horta, no one else, they broke it, now up to them to fix it with other than the likes of the original plan , offered to Sunrise JV Majors and the China BRI, you take all the risk, build the pipeline across the moving 2800-3500m seismic Timor Trench, pay for and build the onshore facilities and run it, at then lower gas prices, on a Sunrise only plan that would be breaking even at best, with mass local employment, while we do sfa other than glean, what were higher tax rates and fees in, those were greatly reduced by outgoing PM Rauk in support of the , mostly fell on deaf ears 2 1/2 year bid round.🙄

Yes all a bit sad Jarv, Sunrise discovery well (1974) will have already long celebrated its 50th Anniversary, perhaps our 2024 appraisal drill and it can have a joint knee's up. 😂🤣😂

Would not have a fiscal cliff looming, if had let the industry just get on with it years ago but then we would not have our minnow holding a Majors asset. 😉😂

Sunrise 1974 , Chuditch 1998 Shell , Kelp 10-14 tcf Mobil also 1998 and not a fart in a whiskey bottle released between them🙄

Boil/SG continue to be a minnow, holding 75% of a SUPER Majors ex asset, mega bagger in waiting , if they ever get their regional 💩 sorted

Quite simply, not that simple, turning around decades of thwarting the industry and the mistrust of each other that evolved along the way, Santos, ENI and ourselves, other licences supposedly nothing to do with Sunrise/HUB, none have moved or had further exploration in decades, only the chase the Oil seeps onshore activity. Only TL Gov can change that by proving, it is the case, you can execute your own plans, not spend shed loads and be told NO to your production plans.

Sunrise had over $400m at 90's prices before being mothballed in 2004, according to the online CPI Inflation Calculator

that would be $942m NOW 2023 Prices or £752m, Chuditch $47m / $111m NOW prices aka $89m.

Any of the very large offshore licenses, most still unoccupied, will require very deep pockets and a Major/Tier1 consortium to develop to FFD, Sunrise was originally , Shell , Conoco Phillips and Woodside, Shell from its own work, had Chuditch as probably LARGER than Sunrise across the whole license.

Would you commit to spending Hundreds of Millions, with uncertainty still standing in every corner. Hence no additional PSC's signed from the bid round, now 18 months late from date supposed to be signed by.

Should find out more soon, China will not be met with DEMANDS, they always have demands of their own ,for their heavy investments, for preferential trade deals on the back of BRI projects.

Perfect scenario for us right now, is China state banks, China Gas and CNOOC swoop in take up Metinaro and Chuditch to build and supply the Islands Northern PIT project, while exploring the currently vacant licenses in a wide ranging arrangement with TL.

OR

Woodside similar arrangement MOU with Japans state investment bank and INPEX etc available to support, makes a move, perhaps a Woodside sweetener , they and OZ fund G.S hub/pipe, if also permitted to also execute other plans on the wider Sunrise license (Osaka Japan also part of the JV) or even take Chuditch for Domestic deal + Japan

Imagine that, China v Japan turn up the heat, with a bidding war for our GAS production.

If so Yeo ho ho , take the money and RUUUUUUUUUUUUUUUUN😉😂

They constantly quote, we meet the highest International standards of openness and transparency and are OPEN for business, high time they proved it, why have Santos and ENI not signed their Area R an P psc's yet (due Jun/Jul 2022)

Its an easy one, they are also looking for answers, they and the Koreans have their own Darwin refinery and plan a duplication pipeline (new) to them for input production, the current pipe Darwin-Bayu NOW wastes only.

Same as Woodside had for Sunrise production to commence 2003 , quashed while being being built by Gusmao, with Conoco having offtake agreements in place , for the majority of gas to the S.W. USA States. Will they also be restricted

from using their own plans ?

Time for answers and actions..........all yours Gussy. Give us, Santos etc, a big fat YES 😉😂

If I was A.B. I would be inserting myself in that conversation and also reminding them, of the TL statement last year, we are the majority owners of Sunrise, so the JV should do what we wish. Well we own 75% of Chuditch, so surely the same bench mark applies ? 😉🤣

Although it was very much a double standard, for years told Shell and others NO you can't DARWIN/FLNG, when they TL (Timor Gap did not exist) held 0% of the license, just territorial rights, what goes around comes around dear PM/Pres. 😉

The big difference between us and Sunrise , is it won't be built for years, they want domestic supply security much earlier, a deal with Sundagas (75% own Chuditch) but since we have in 3 stages taken 100% SG, so the big player remains Andy B and his team on the Island, not Yeo ho ho in his bedroom presentation PJ's.

A.B recently added to the Boil BOD and in the recent Embassy Ambassadors meeting holding Yeo ho ho 's hand. As said the Island policy for 22 years , announced by Gusmao its ours , it all comes to the Island, would still be satisfied, if Chuditch did come to the Island by FPSO to provide their own domestic security as they now can not wait for BEACO themselves 😂🤣😂

Timor-Leste has access to vast reserves of gas in the Timor Sea. The availability of natural gas for electricity

generation has the potential to provide much cheaper and cleaner fuel than liquid fuels. In environmental terms,

for the same amount of electricity produced, the carbon emissions from natural gas-generated electricity are

considerably lower than from diesel-generated electricity. A feasibility study will be carried out to assess the long-term prospects of attracting gas processing facilities to Timor-Leste.

To quote them from their own Timor Leste 2011-2030 SDP , Strategic Development Plan. 😉

Hera Generating Station, Betano Generating Station, The engines run on light or heavy fuel oil and will be capable of being converted to natural gas.

Conversion plan announced by PM Rauk in Parliament 2021 for by 2025 the above and 3rd site ,Comoro Power Plant😉

TL need, as just above Timor Sea Gas, so that's Chuditch or Imports, until at least 2030 (Sunrise) , is it not ?😉🤔

They started the ball rolling in 2019 with a showcase of Chuditch NON TENDER award to Sundagas for services rendered to the Island since 2016, a service A.B. and his team continue to this day, setting up and training TL Industry workforce.

That was to promote the bid round, they could do worse than do it again, Sundagas-Timor Gap to develop Chuditch to provide ........(Gloriously flannelled Horta special speech) and get something flowing coffers into the Island fund much sooner than Beaco will, tenders 2030, new studies YET AGAIN it appears in progress from that Woodside news today.🤔

Still keeping some hope that it was no coincidence , Metinaro and our drill or drop date extended to fit with it, FID announced by end of 2023 and we go nudge, summer 2023 to 18th of December, strange to have a vague open period date all these years, then be so specific, day and month? 🤔 Chin up CDF, it's a prime date for a Christmas present.

Said before, Sunrise set in stone for Beaco (islands only option for 22 years) leaving Chuditch front and centre, as their only other developed , drill ready field, Metinaro and its facilities, were part of the original Beaco plan on the south coast years ago, stripped away as a NEW project a couple of years ago, with a plan to

1. Save money over Diesel costs

2. Convert the Islands 3 power stations to Gas, two are in the North

3. Avoid the domestic disruption suffered during storms and covid

4. Secure 3 months (90 days) always available supply (Tank farm)

The Gas/LNG Import fac and 90 day tank farm at Metinaro in the North, just East of the Capital Dili is that plan, the head man of China Gas visited the Island a few days ago (filthy post) no wrangle or problem with them taking that project on, its a 100% TL project.

The Indonesian company doing the site physical surveys for the plant and port at Metinaro, in August said should be all complete by September, with October Timor Gap being in possession of all the data, for them to finalise FEED for Metinaro, so would appear to be still on track , for TL to announce by end of year, as previously stated.

Point 1 above, nullified if they then go and ignore what's on their own doorstep and supply Metinaro with more expensive imports, for 5 years , then switch to Sunrise production, having moved the site of the Gas/lng Import fac's away from their in the first place.

Chuditch drill 2024 then FPSO , is the only other game in town and ideally placed to supply Metinaro with their own cheaper gas deal 2025, new owner operator,Boil long gone, can then expand later to a 26/28 well program, as was Shells plan for Sunrise FFD by FLNG ship , all we need, is a simple YES. 🤔

Guess its now all eyes on Yeo ho ho, Jv or Sale , Drill or Drop (its drill) , Rig and finance , FPSO approval by TL, TL FID Metinaro and who might supply local gas, wildcard Dunrobin JV or Sale , all before the Santa rally. 😉😂

Well that's disappointing, says exactly what they said they were going to do this time last year and again in February, after Meg did a 180 and said we will conduct new studies with an emphasis on Island production path and checking out modular designs etc......does fit with what Gusmao said a couple of weeks ago, not expecting anything on Sunrise now, until next year. So what the hell did they do this past year, nothing by the look of it. 🙄🙄🙄

Wonder if Santos/ENI/SK Korea now IDLE Darwin refinery going to get some good news, linked to jobs for the Timorese living or commuting in the Darwin area ?

Upon returning from the Cook Islands, the Minister of the Presidency of the Council of Ministers, Agio Pereira, was on an official visit to Darwin, Australia, and on November 16, 2023, he had two meetings in the Parliament of the Northern Territory (NT – acronym in English) from Australia, with Mark Monaghan, President of the NT Legislative Assembly and Nicole Manison, Deputy Chief Minister of the NT Government, to discuss the existing strategic partnership between Timor-Leste and the NT Government.

The agreement covers several strategic sectors such as labour mobility, commerce, business, agriculture, tourism, oil and gas, minerals, among other areas.

Given that this strategic partnership agreement also works as an extension for the management of the Pacific and Australian Labor Mobility program (PALM - acronym in English), and following the meeting between Minister Agio Pereira and Pat Conroy, Minister for International Development and the Pacific of the Australian Government, one of the main issues discussed in these meetings was labor mobility and the possibility of increasing the number of Timorese workers participating in this program. The desire to expand the Labor Mobility Program to include technical and qualified areas, such as hospitality, was also expressed.

Strengthening the partnership between the National Parliament of Timor-Leste and the Legislative Assembly of the Northern Territory of Australia was also discussed.

Think the drill or drop , is just a timing formality, since putting the extension in place , Boil/SG have moved on to planning and looking for drill funding, for a Q4 2024 first spud of probably 2 wells, one appraisal (wider thicker CH1 1998 drill area, the other Andy would like in addition, is an exploration well. (other lead? or Bilby/Wombat now Chud North and Chud SW)

Still also have that coincidence or not ? Metinaro (Near Dili North Coast) Gas/LNG Imports facilities and 90 day tank farm to 3 converting to gas power stations, final investment decision FID , it was announced for Nov/Late 2023, then suddenly our drill or drop, moves from Summer 2023 to 18th December , Chuditch looking to drill 2024, Metinaro and domestic supply to flow 2025/26, sound like a cunning plan to me Baldrick ?

In this case it would suit the Island to give us a first ever YES to other than wait for the South Coast Beaco, Gas/LNG Export terminal (tender 2030) with our FPSO plan and a tied in Domestic deal.🤔

The INPEX is an interesting one, late last year, Woodside and the Japanese state Investment bank, signed an MOU for Woodside to go out and secure future domestic supplies of Gas/LNG for them (forget but think was a 20 year plan)

It also stated that in addition to the Japanese banks funding, Japanese companies would be on hand to assist in any new developments, INPEX Japanese and already a major player off the Australian , Western and North West shelf areas

including Ichtyus , which supplies the only currently active pipeline into Darwin refineries complex.

China or Woodside (Japan) should make for an interesting game. 😉😂

Looks like Meg followed through on a similar statement to the last PM Rauk, it seemed to suggest further exploration across the 3,200 sq km license, her predecessor Mark, had the entire Sunrise license 3d seismic rerun in A DAY, back in late 2020 with AWS support (eqiv of laptops 4 was it miles or km high) Perhaps now going to reveal what else they found ? 🤔

That previous meeting ref specifically to Oil and Gas cooperation and what the UAE has and can do.