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Hmm , AB has good connections in Singapore, when bringing Sundagas to market, knowing they where getting Chuditch non tender , for services rendered , for the 3 previous years. Floated on the Singapore stock exchange and brought a $22m Singapore bank loan with it👍 ( not a gazillion confetti placings 😲)

Have the greatest of confidence, AB and his team, will bring the heat , both partnership and financial wise, now in full control of both Boil and Sundagas/Chuditch destiny.🤔🤑

It is a bit , as China BRI have been involved in a lot of that infrastructure building work since around 2002, which is why it came as a strange statement , when Xi said a few months ago at the meeting with Gusmao, the BRI would now become ACTIVE in TL , could only take that as STEPPING UP, from the smaller projects to the bigger plans (Metinaro/Beaco) the only two on the books , both under the TL ministry of P&I who signed the MOU with the Chinese Ministry of Overseas Development, in Cabinet , 3 days prior to Gusmao's visit to China to meet Xi.

Back to previous post, one time Horta did not give a speech, the week before that MOU signed, he was listed as a keynote speaker at the Chinese Conference in Havana Cuba, his travelling deputy , last minute change , did the speech, so a week later we knew what Horta had been doing instead, arranging that joint MOU, signed the following Tuesday, last minute motion to Cabinet agenda, pre Fridays state visit. 😉

Chris

That's always been the main worry under Yeo ho ho, did he have the backbone to stand up and fight our corner , for a good deal, not just take a few million and give most of the crown jewels away.

Got to credit the more rough around the edges freedom fighter Guamao, his life long bff , only returned to politics in the 2022 Presidential election as Gusmao asked him to, he was odds on favourite to win the election himself , stood down and got his bff to stand, withdrawing and throwing all his support behind Ramos.

The plan worked Horta elected, Gusmao returned to politics to as expected win the PM Election the following year, Tasi Mane and the dream, jobs for all Timorese , own up/mid/downstream industry and project Tasi Mane (now split Northern/Southern Projects) Gusmao's dream and brainchild after leading TL Fighters to Independence.

Horta speech (he always has one 😂) on standing for President, ,I do not wish to be back in politics but while my good friend Xanana works tirelessly for our people everyday, It would be remiss of me not to help. 🙏

Lol , the locals have always over egged the pudding, said years ago , noting would happen until the local politics and issues resolved, still nothing new has moved offshore yet BUT all the external infrastructure has been built , the roads , highway and two primary deep water ports, for supply ships and offshore support vessels. Multi airport upgrades both Dili and regional.

Workforce developed from a hand full , to hundreds across ANPM and Timor Gap, a lot of that training since 2016 and continues to this day , by our own Sundagas team led by Andy Butler , who is now Boil CEO, AB and his team, in particular Colin , also active members of Seapex, where they rub shoulders with all the regional industry elite. AB still a VP of Seapex and Colin heads the association in charge of the upcoming London event.

Sundagas and AB , have always been the key to progress and getting Chuditch to market......... GLALTH 🤔

Now just tooooooooooooo many moving parts, for things not to progress and start to move things along.

Australia , Japan , China and Korea, ALL looking for increased DOMESTIC supplies, for years to come.

Sunrise/Beaco announcement and 🤞🤞🤞🤞 crossed a resolution IMMINENT

Metinaro FID IMMINENT

China MOU with TL Ministry of P & I ,under which the two above fall, for development and funding

Japan MOU with Woodside

Santos/ENI/Korea long term relationship and MOU's

Albanese OZ Government , putting restrictions on industry BUT expecting them to increase Domestic supplies AND maintain Australia's position as World No1 for Gas/LNG

Brunei , Indonesia , UAE , Kuwait amongst others pledging financial support for TL developments.

As said toooooo many moving parts now , once the Juggernaut starts to move, it will take some stopping........GLALTH🙏

Plenty of interest but still no one taking an early mover advantage, all still appear sitting on the fence, awaiting that Elephant in the room , Sunrise saga resolution.

Eni almost a year late finally signed its Area P psc, still not seen Santos sign off on the wider Bayu Area R, neither having conducted any work so far, both also having their own JV MOU for developing more Timor Sea assets, not just in the TL waters.

Guess they are chilled , now Barossa HUB and pipeline going to Darwin, plan was for both Barossa (santos) and Evans Shoal (Eni just North of them) to both fill the pipe once built.

Likewise both being the current (with sk korea) holders of the right hand side of Darwin refinery complex and the converted to output Darwin - Bayu Carbon wastes, their fortunes have been restored, last read Barossa pipe over 60% completed.

They put a 4 year down time for Darwin on the plan, so going to be well inside that, plus that output line from Darwin to Bayu will very quickly have full capacity , left side refineries at Darwin Ichthys , right side Barossa and the new in progress mid section being made ready for onshore production from the OZ Beetaloo basin fields.

From what , was it Ian or JC posted over the weekend, ENI having a rethink as Evans will take the Bayu operation beyond capacity.

That could also be good for us, Boil have also talked about the potential for future Carbon Storage on the Chuditch license, which ENI themselves might now think about targeting, take Chuditch with Santos under their JV, drain , convert to storage, meanwhile developing follow on assets on the wider Chuditch license (shells leads - not touched by boil) and their own area's R & P🤔

Think it was on one of your previous FB posts, UAE Minister and large entourage, had talks on the Island and his statement pulled no punches, said if they got involved, we would show the WORLD , what we can do !

Might have that wrong but was deffo , one of the two Middle East visitors , Kuwait or UAE, without tracing back, 90% sure it was the UAE ? 🙄😂

🤦‍♂️

to support the development of TL and the development of the Greater Sunrise fields.

Nice timing indeed Filthy, if China finally put some meat on the bones, re their support and mou , Oil and Gas statements.

TL like to play hardball with name dropping and one sided statements, to poke at OZ, what will they do if armed with, fresh real financial backing from China BRI.

Australia will have to put up (funding) or shut up (move aside) to honour their own COMMITMENT statements, to all they can to support the development of TL and its Development.🤔

TL SDP 2011-2030 , is all based on building all it's other sectors for the future , from it's Oil and Gas revenues/taxes 😉

The Betano link , for anyone new looking in, is the site of the current Oil refinery, which under the Southern Project (tasi mane) was to be expanded and refurbished. Extra security , guess that one is gathering pace also, as Timor Resources (Australia) drilled 5 onshore wells, with 3 being provisionally being labelled potential commercial Oil discoveries.

Gov told their partner Timor Gap, to now do whatever is required to get them moving, has been a funding dispute between the two for a year or so. Substantial commercial onshore oil to Betano , could give them more fiscal cliff breathing space and we don't want that 😉😅

We want them to stay on track with focus on getting their much bigger Gas industry moving ASAP. 🤔

Sooner the better, then things hopefully can move on at a much quicker pace, those we have supposedly been in talks with since 2021 , might finally jump off the fence, knowing 3 giants , Chuditch , Kelp and Sunrise, with more to be found, will finally have a route to monetisation one way or the other , after 20 years of Sunrise on care and maint, impasse, force majure , multi boundary changes and final agreement, that was supposed to open things back up in 2018.🤷‍♂️🤦‍♀️

Time to see an end to the multi demon duo and 🙅‍♀️🙅‍♂️🙅‍♀️

Time for them to come clean and the man from TL he say FPSO , yes you can, long before the Southern project is a reality, if they agree to the Islands demands this time.

If that is BUILD , its good for us also , as it will already be one acceptable to the locals , monetisation route for Chuditch.

9th Sept 2021 TL Gov, new studies for Sunrise HUB and Beaco Gas Lng Exports refineries, economics based on the coordinated development, of CHUDITCH , Sunrise and Kelp, to all feed Beaco from day1. 😲🙄

When we were talking of a decision to FPSO.🤷‍♀️🤷‍♂️

As Geronimo said , TL Ministry man, many times speak with forked tongue............ 😉😂

Https://www.timorgap.com/wp-content/uploads/2024/03/Advertisement-security-Betano.pdf

Woodside delivering on its MOU with Japan signed about 18 months ago, JERA Japan also getting a slice of Scarborough.

That MOU was for Woodside to go out and secure Japans domestic supply for the next 20 years, Japanese Gov Bank the principle mou JV , the Bank also promised Woodside, whatever they needed, new assets, development, ALL Japanese companies WILL be available to assist (Inpex , national and city companies offtakes , JERA , Tokyo Gas ,Osaka Gas and many more)

If only Carlsburg did Chuditch bidding wars................. 😉😂

China v Japan v Australia........... bring it on 😲🤑🤑🤑🤑🤑🤑

In addition, since that Gusmao visit to China, the head of China Gas has also visited Timor Leste, if it talks and walks like a plan in progress, its ..........

Also lets not forget around 18 months ago , our very own poster Doug, came across the projected budgets for the next few years and the Ministry of P&I provisional budget requirement for 2025-2027 , each year MORE than the entire annual budget for the Island, this year TL budget 2024 est 1.6 - 1.8 Billion.

Think it was 2026 P&I was $3.2b peak, the only thing of scale that fit for $7b over 3 years, is METINARO, which was provisionally pencilled in for operational ,feeding 3 converted to Gas/LNG Imports power stations.

The provisional P&I budget dropped back to under $700m for 2027, timescales that did not remotely fit for the Southern project, with still agreement/bigger funding required ($16 - $18 Billion) and provisional tenders for Sun/Beaco 2030/31.

BRI could easily fund either project. 🤔

That China BRI one is a good un, deepest annual development pockets on the planet. Annual budget in the $ TRILLION's, they have the financial muscle, to do whatever Xi Jinping tells them to do, he invented BRI, currently on his phase III plan.

Xi has already written " 6 " phases. Chinese Leadership and guidance with world trade and economic domination.

The Belt and Road Initiative (BRI or B&R, known in China as the One Belt One Road sometimes referred to as the New Silk Road, is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in more than 150 countries and international organizations. It is considered a centrepiece of the Chinese leader Xi Jinping's foreign policy. The BRI forms a central component of Xi's "Major Country Diplomacy" strategy, which calls for China to assume a greater leadership role in global affairs in accordance with its rising power and status.

Timor Leste Cabinet signed off an Mou with China 3 days before PM Gusmao flew to meet Xi in China late last year.

Timor Leste Ministry of Strategic Planning and Infrastructure with Chinese Ministry of overseas Development.

During visit, Xi promised Guzzy help with various industries , including Oil and Gas, Gusmao himself a couple of decades ago also invented TL's Project Tasi Mane (Since split into the Northern Project Metinaro all fuel Imports and the Southern Project Bettano Oil refinery , Suai port offshore ops support and the Sunrise pipeline HUB/Beaco Gas Exports fac's.

Both projects fall under the TL Ministry of Strategic P&I

Enter the Dragon, appear now close to revealing what that assistance will be........ 🤔

Asx like the lower Canadian cse exchange moves in increments, so always wild swings on NO volume, yesterday was a total of 16m today 19m , not even a good single trade, with 25b in issue, unlike London, that moves in every fraction available.

As said yesterday, the ASX is best ignored 99.9% of the time , on any dual London listed share, same with Canada, eg for years before copl did a share consolidation, the Canadian exchange was bid 0.28p v 0.58p ask equivalent, while London was rangebound in the 0.24p to 0.32p area.

Unless volume, lower asx and cse best ignored.

Almost forgot , GB's link the other day, had ITS changing its share base by what was it 19 shares, that probably a good sign things are moving forwards, share base adjustments plus/minus often come into play, to have a base evenly divisible by the negotiated price agreed by the companies. 😉

Someone posted earlier , In the Style turned a profit of was it £1.2 million, say give it a p/e style range of 6-10 , gives it a valuation by that metric of £7.2m- £12m plus icon £1.116m at Brad's often mentioned, he still sees the floor as 10p, if that metric , then return £8.316m - £13.116m shares at 10p ,would give a return of 83m - 113m shares.

The market will then see that as a say £8m mc company with current revenues closing in on £50m and seemingly set to increase, in terms of both revenues and profits, so like on many previous ipo/rto's , would see that as too wide a gap.

Rapid correction and find its new floor and trading range, until further news, raises or lowers the bar of expectation.

GLALTH............ 🤔

Back to snooze and zzzzzzzzzzzzz's , until Brad breaks the silence....... a little 🤑🤑 or 💰💰💰💰💰💰💰💰💰💰➕

As for value and shares in issue at the end of the negotiations, only those involved will know, until an update RNA message over the rns news wire, lets the rest of us in on the details.

One of my others currently undergoing rto , gave an immediate heads up, the target company in negotiations with would be valued at between £6 - £8m and the company itself would be determined by the final figure agreed, as being worth the higher of £1m or 15% of the new company valuation.

So pretty easy to calculate a ballpark number of shares and return value. In icon case or whatever name In the Style or other it returns with, until some meat put on the bones via RNA update/s, all is guesswork, been in a hell of a lot of rto's and the one thing for certain the valuation is always conservative and never close to revenues, hence majority of returning rto companies , tend to boom.😉

Totally agree Jarem, as said before , we are in the long game, the return to market is 4-5 weeks, now up to all parties to make agreements and get the new company signed off and submit the new enlarged company prospectus.

All we can do, is sit on hands and hope Brad not telling porkies about negotiations being advanced, all long rto's are down to the companies involved, first getting the deal done, then having all paperwork up to standard to submit to the FCA for a quick and clear acceptance , 2-3 weeks , then market 10 working days process, basically the last two steps of an IPO , is the end game. 🤔