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Lots of potential drivers , long before the end of the year

Sunrise agreement - path to market to be built, opening up the value of gas to the Industry in TL Timor Sea waters.

Metinaro FID listed as by end of 2023 , or IN Q1 2024 (now)

Boil secure drill funding and confirm Dec slot.

Boil secure JV with a serious player (free carry 1-2 drill for x% of Chuditch)

Boil kicked out by a Major , for serious compensation (56% of Sun 5 tcf was $650m 2019)

even

Dunrobin JV or SOLD

Does not work like that , to secure a FIRM rig slot, funding has to be in place long before that window arrives, or you lose the slot , to someone who can pay.

Now every fibre of AB's contacts and background, need to come to bear fruit, on that FINANCIAL certainty. GLA 🤔

Been in a few that have lost slots, one multiple times.🙄

Christoff

reading (or hoping) between the lines, that has been given (under NDA) Mitra planned to FLNG Chuditch when they took it from Shell under the Australian license, Andy and 3 others (think 3 of 4 from Mitra backgrounds) Formed Sundagas and arrived at the Island in 2016 training and developing TL's industry as they do to this day.

At no time in the past has Timor Gap shown any interest in assisting us, barely rated a mention in annual reports etc, now we have them , upping their stake from 25% FREE CARRY to 40% with a commitment to fund going forward, that initial move a saving of 8m over the next year, including a 1m cash refund.

Why do this now, if not going to support Andy and his teams FPSO plan

IMO, its still Chuditch, that is front and centre for their Metinaro and Domestic switch and supply to Gas/LNG by 2025/26

long before Sunrise/Beaco operational (last tenders by 2030/31)

It suited them on the grounds of revenues not to block Conoco from piping Bayu to Darwin , Island majority source of revenues 2005-2023. All developed and built under the OZ license pipeline and refinery in place.

It has to suit them to use their own gas, with a mates rates offtake with their own Gov NOC Timor Gap, rather than pay more for Imports from elsewhere🤔

Would just be more comforting to all, to come out and say say, give us that other option GREEN LIGHT, it would also seriously boost our position for JV/Sale partners.🤗🤩

Now fully expect, Meg to come back to the table with positive studies and an acceptance of what Gusmao/Horta have stalled the area with for 22 years, Beaco to be built , with at least one , TL permitted route to market , our gas like Woodside regains value from $0.00c on the books.

The two projects to a developer , Sunrise $65+ Billion (2021 o&g conference 30 year life - pre gas price boom) for its 5 tcf

Shell had Chuditch 5+ tcf with lots of upside but lets stick with Boils snail paced limited license area catch up (800 sq km v 3,571 sq km) which has 3.5 tcf plus upside. Makes Chuditch worth around $40 billion with upside.😲🤑

Woodside had its 34% of Sunrise on its books valued at hundreds of millions of $'s , before marking down year on year ,until reaching $0.00c in 2019?. Gas prices have risen, so on a successful Sunrise outcome, you would expect Woodside books valuation to swell back to those $100's of millions.

As a result of 22 year impasse ending, likewise Chuditch should also soar in value, to both the market and potential JV/Sale to the upper echelons of the wider Industry. (where there is 30 years of profits to be made , there is GREED)

Both Gusmao (set in stone Island option) and Meg on her U turn, have recently made comments , suggesting at last both parties are ready to push the project forward and study results are expected soon (Dictionary version or most ceo's ?😂)

End of the beginning and the start of phase II of PSC about to commence

(years 1-3 psc now over 4 years - phase II we drill and develop)👍

Apologies, the syntax fell over in places on that pick and click. 🙄

PART 1

Meg only 3 days after the 1001 st deadlocked meeting still wanting to go to Darwin, did a massive u turn, saying will have another look and do more new studies , with emphasis on TL onshore processing (Sun Hub/Beaco).

It appears Darwin is very much being expanded, the assets ref'd to are from ONSHORE Australia, Beetaloo basin heading to Darwin and Carbon wastes it would appear, will be heading to Bayu, via Santos current Darwin - Bayu pipe, new input pipe for that production being from the New East Barossa HUB (Santos) with Evans Shoal (ENI) also expected to use that HUB.

West from the Giant Ichthys field feeds the other side of Darwin, so Bayu set for at least 3 major OZ carbon outputs

Barossa HUB , Ichthys and Beetaloo basin fields. That should be more than enough to hit its 10m tpa storage target.

Northern Territories

Before Labor invests $1.5bn in Darwin harbour’s Middle Arm precinct project, it needs to look beyond the spin

How do you sell a major expansion of gas exploration in the face of commitments that Australia will reduce its

greenhouse gas emissions to net zero by 2050?

The answer is a combination of spin and reliance on carbon capture and storage technology. Like the emperor’s new

clothes, the planned Middle Arm sustainable development precinct on Darwin harbour in the Northern Territory is

being elaborately embroidered by the Albanese and Fyles governments with green phrases: “green hydrogen” “carbon

capture and storage”, “sustainable industry” and “decarbonisation” – when in fact most of the project will be devoted to processing fossil gas from two proposed natural gas fields and petrochemical production – activities that critics say will add significantly to Australia’s carbon emissions.

PART 2

Its claim to being “sustainable” hinges on the implementation of CCS, including a project Santos plans to build at

the depleted Bayu Undan gas field 500km north-west of Darwin in waters controlled by Timor-Leste. In turn, that CCS project is likely only to be viable if the massive planned gas expansion in the Beetaloo basin, as well as petrochemical manufacturing at Middle Arm, go ahead. New documents obtained under freedom of information laws show this

chicken-and-egg thinking is a crucial part of selling the interconnected developments.

The Middle Arm project is seen as a key enabler for Beetaloo gas to be transported north, further benefiting the NT economy one briefing document from the federal environment department says.The concentrated sources of CO2 from

industrial processes at Middle Arm will improve the feasibility of carbon capture and storage. This will support the

social licence of the Beetaloo Basin gas extraction and help meet the territory’s commitments not to increase emissions.

Bayu dismantle and reconfiguration of its platform, has additional new inputs being built, for wastes from other than the Darwin - Bayu pipeline, including transfers from shipping.

Does appear, it also leaves plenty of scope for another Carbon storage facility in the area, something touched on by Boil in the past as a possibility at Chuditch down the line. 🤔

Japan’s largest utilities — including JERA, Tokyo Gas, Osaka Gas, and Kansai Electric

Based on figures from the Japan Oil, Gas and Metals National Corporation (JOGMEC), LNG sales by Japanese companies to third countries surged from 14.97 million tonnes (mt) in FY2018 to over 38 mt in FY2021.

So Japan not only getting it for themselves, large scale offtakes, also being sold on to 3rd party countries.🤔

PART 2

These efforts are part of Japan’s broader strategy to enhance its self-sufficiency in oil and gas from 33.4% in 2022 to more than 50% by 2030. The industry ministry’s budget request indicates that Japan plans to allocate approximately Y108.2bn ($733m) for oil and gas exploration and asset acquisition in the fiscal year beginning in April. This would be a significant increase from the current year’s Y47.9bn.

“Natural gas and LNG will remain an important energy source even after the realization of a carbon-neutral society,” Takahara said. Under JOGMEC’s five-year business plan initiated in April last year, the goal is to increase Japan’s equity oil and gas offtake by 70,000 barrels of oil equivalent per day, reaching 1.05 million by March 2028. The plan underscores Japan’s commitment to natural gas as a vital energy source. 👍

About 18 months ago Japans primary Investment bank set up a MOU with Woodside , to go out and make acquisitions that would provide Japan with Gas/LNG security for the next 15-20 years. It also stated, all Japanese companies assistance would also be available if required (Inpex , City Gas firms etc) Just came across this from a few weeks ago.

Japan’s Organization for Metals and Energy Security (JOGMEC) is set to provide financial backing to domestic companies investing in NEW LNG projects

Japan to boost LNG project investments

The super-chilled gas is a critical component of the nation's electricity energy mix, accounting for 34%. The move aims to bolster Japan’s energy security by ensuring a stable supply of LNG. The super-chilled gas is a critical component of the nation’s electricity energy mix, accounting for 34%.

As the world’s leading LNG importer, Japan has seen state-owned JOGMEC previously support numerous LNG ventures, such as Indonesia’s Tangguh project, through equity investments. In an interview with the publication, JOGMEC chairman and CEO Ichiro Takahara said: “We have received several queries from Japanese companies regarding NEW LNG projects and we are preparing to decide on financial assistance.” 🤔

As said when set up Sundagas on the Singapore market , he brought with it a £22m Singapore bank loan, wish he had floated in London and used that bank loan. Rather than getting into bed with Yeo ho ho and co, small ever increasing confetti placings (wonga bucket shops not banks on speed dial) .

Was a condition of the bid license round , bidder had to prove they had at least $20m available to develop the huge licenses on offer. (hence Singapore loan)

Even bigger laugh was Yeo ho ho and co , we have entered the bid round 😂🤣😂🤣😂🤣🙄🙄🙄🙄 with next to no one bidding 9 bids on 7 of 18 licenses (Nigeria same timeframe 1,600 bidders on 58) and yet as it came to its 2 1/2 year extended conclusion, the 🤡 announces, oh we changed our minds, withdraw from bid round.

As if he could fund 2 licenses properly , just one of many RNA messages released over the rns news wire , to pump with news (we made a bid) the XXX is coming soon, in talks 2021 , early 2022 will double our talk efforts etc etc etc, that had nothing but the reality of shifting more bucket shop wonga confetti...

AB has a lot to sort out, financial mess, share base crucified , you name it, so at least give him the time his background and profile deserves, to get his own plans in place, starting with getting that Q4 rig funded and firmly booked. 👍

Well played Eddie

👏👏👏👏👏

A bit of very basic research and you would know, Sundagas has held the Chuditch license since 2019 Non tender award for services rendered by AB and his team since 2016.

Boil entered the fray Jan 2020 and having failed to rto, took out Sundagas in 3 stages over two years.

It still remains Sundagas AB and team hold the license and 60% of Chuditch , Boil in turn own 100% of Sundagas

Sundagas the license holder and Boil the up to now INVESTING company not oiler, now both headed by an OIL MAN

and his crew (mostly ex Mitra) with endless connections in the region , Andy Butler.

Shell on getting nowhere with the locals decided to leave behind both Sunrise and Chuditch, moving Chuditch on to Mitra still under an Australian license, they also announced a plan to FLNG as Shell had after also being declined Darwin.

Did not shift Sunrise until many years later , on compensation , via loan deal to TG via Island fund (still on the books to be paid back) Sun being on care and maint, since 2004, FLNG declined 2008, said leaving area & Mitra took Chuditch

The OZ license fell off the books and AB and others (original 4) set up Sundagas assisting the Island from 2016 and floated on the Singapore stock exchange 2019 , just prior to being NON TENDER awarded Chuditch as the Showcase (not sunrise) for the Nov 2019 bid round launch...........

You could say its always been about the Mitra guys working with the Island since around 2008/9, that evolved into Sundagas , long before Yeo ho ho and co , came in and snail paced and poorly financed the show...........circa 2020

GLALTH.

truth is truth not negativity but i expect that's a concept way beyond your teeny tiny grey matter in a big hole between your ears.

i will not post again but ffs 4 years of imminent finance and drilling and you still can't figure out ja who pays himself as an advisor to tower , is feckless , financially wasteful, as fast as baldricks moustache and will need others to make it fall into place in time, has always been a smirk and a smile full of bull💩

truth, two septembers ago, finance if not today , in the next few days, is just one of his many, many, classic take the **** comments in an rna message........could not hit a deadline , if he was stood right next to it

gone.........................................

Viqueque district is also the location of the planned Beaco port and refineries fed by Sunrise HUB.

At the meeting on March 13, 2024 , the Council of Ministers decided to authorize expenditure for the supply of electricity throughout the country and for the construction of two irrigation systems in Baucau and Viqueque.

In the first deliberation, the Council of Ministers decided to authorize expenditure for the transfer of funds from the General State Budget of the "802 Electricity" Program of the Ministry of Public Works to Empresa Pública Eletricidade de Timor-Leste (EDTL, EP). Therefore, the Council of Ministers decided to authorize the expenditure for the conclusion of subsidy contracts between the MOP and EDTL, EP, in the amount of 148.5 million US dollars, which will serve to provide EDTL, EP with the necessary resources to carry out the supply of electrical energy to the entire national territory, an essential public service for the population and the country's economy.

Thinking this is all development work associated with the last outgoing PM Rauk promise for Metinaro Gas/LNG Import fac's , convert 3 power stations to Gas from Diesel and stable cheaper Electricity for all ASAP

Rauk implemented the above Northern plan in 2021 , stripping the Import fac and p.i.t. away from the South Coast Beaco/Sunrise plans (Southern project Gas/LNG exports plus Betano Oil refinery)

Bring it home AB

Chuditch drill 2024 - 1 well FPSO - Domestic/Metinaro Gas supply contract for 2025/26.🤔

Once the gate is open, there will be a greed stampede, to get a share of the riches on offer, as said before at 2021 oil and gas conference , pre gas price boom, Sunrise valued at $65 - $70 BILLION over its production life to a developer, making our Chuditch a similar figure based on Shells 90's figures (full license) and just a mere $40 Billion based on Boils playing catch up 3.5 tcf on 800sq km dev's (full 3,571 sq km)

F and 👃what Kelp could be worth on development, Area R Santos the Wider Bayu region unexplored, Area P ENI the link block between Chuditch and Sunrise, long thought to hold the hydrocarbon kitchen that feeds BOTH.

Majors that TL crave to return (said so many times for fast FFD not a well here and there) or the still in situ Santos/ENI who have their own TL Waters JV with SK Korea, Expanding Woodside ( absorbed BHP and had a look at absorbing Santos very recently) have a Mou with Japan, who said finance and industry support (Inpex etc available to assist)

Talking of who, INPEX still hold part of a smaller TL old license just behind Bayu, nothing been done with it for donkey's but still present

China Ministry of overseas development MOU with TL Ministry of Strategic Planning and Infrastructure (under which both the Northern project Metinaro and the old des Tasi Mane now Southern project fall)

Statements of intent by Qatar, Kuwait also in the mix...........

Just to many moving parts now in the mix, for the 22 year impasse not to end, the gas will flow and imo Chuditch will be the first to flow to the Island via AB and SG FPSO and highly likely to be linked to the Northern Project. 🤔 GLALTH

Today marks a new chapter and the end of the beginning , phase II starts NOW !😉

Jarv post , Ok, that confirms he is still first vp of seapex, looked earlier and his photo missing from the list, just Sundagas Colin Murray listed, maybe pending new pic's , old one been on it a few years 😉😅

Seapex Platimum investor for 2024 is ExxonMobil , bring it on AB 😉

Mobil have history in TL Waters, the biggest untapped monster Kelp discovered the same year as CH1 1998, Mobil put a staggering 10.5 - 14.5 TCF on it (More than Sunrise and wider Chuditch license put together😲

Shell had Chuditch , Shell , Woodside and Conoco Phillips had Sunrise together and Conoco had Bayu Undan before the politics made a mess of things, prompting the big Maj's to leave.

If after years of ploughing money into infrastructure (other than the refineries) T/Gap Noc and ANPM, gone from 4 staff to hundreds with many more trained but not yet recruited, they really are going to work with , rather than against the industry , then every chance, those that departed, BHP , Nexen , Conoco Phillips , Shell , (exxon)Mobil etc, will look to return.

Dozens of monster discoveries since the 70's in OZ and Indonesian Timor Sea waters, TL Waters the little/unexplored filling in that sandwich, that still revealed Sunrise 1974 , Chuditch , Kelp and Bayu 90's, all on trend with those in the OZ and Indonesian waters.

Has to be more to be discovered , with already 25-30 TCF 4,250-5,100 mbo/e still waiting to be drained.. 😲

splattered

i will still be here calling him the snail lard **** he is, will find on many a board, i invest in assets, never the 🤡🤡🤡 in charge, the assets will eventually do the talking , while the monkey's stumble on and as said , i am here for namibia not little asset cameroon.......glalth.

Jarv 1555 post

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