Member Info for VisitTimor

On Metinaro, the Indonesia companies doing the studies, said the work would be completed October 2023 (July?) and all data would be handed over to Timor Gap and partners, to then commence FEED.

This already stated FEED ongoing, did hear recently that was also completed and being handed upstairs, to the Ministry of Planning and Infrastructure, who hold the purse strings for the project (also have an MOU with China) Last Feb they stated expected FID Final Investment Decision on Metinaro by end of 2023 (so overdue)🤔 GLALTH.

LNG Import

Terminal Project (Metinaro)

(Regasification)

• Completed LNG Import Terminal Pre-Feasibility Study.

• Completed LNG Import Terminal Feasibility Study.

• Completed LNG Import Terminal Follow On Works (Layout design for PIT).

Petroleum Import

Terminal Project &

LNG Import

Terminal Project

Survey Work

• Ongoing Survey Works in Metinaro: Completed Topography; and ongoing Onshore Geotech; ongoing Offshore

Geophysical & Geotech; ongoing Metocean [One year cycle]; and ongoing data collection every 3 (three) months.

Petroleum Import

Terminal Project

(Land Title

Identification and

Engineering

Studies)

• Completed Land Title Identification and Publications.

• Completed Feasibility Study.

Ongoing FEED Study.

Petroleum Import

Terminal Project

(Land Title

Identification and

Engineering

Studies)

• Completed Land Title Identification and Publications.

• Completed Feasibility Study.

• Ongoing FEED Study

Beaço LNG Plant

Project

• Completed dialog with Beaço Community.

• Completed project study comparative.

• Completed Land and Properties identification and publication; and ongoing work on mediating claims and ready to

entering to the contract signing.

TIMORGAP

Chuditch Block,

PSC 19-16

• Completed 3D Kyranis seismic re-reprocessing.

• Completed 2D seismic interpretation both in collaboration with the JV partner (Sunda Gas) and in-house.

• Completed 3D Kyranis seismic interpretation and prospect identification.

• Preparations are underway for an exploration/appraisal well campaign.

Still no Cabinet meeting notes but came across this Timor Gap document, summary 2020-2023, I have not previously seen

our license gets a mention and even mentions the appraisal drill preps, so must have been released recently, last saw on the TG website, way out of date, still ref's to doing the seismic ffs 😲🙄

https://www.timorgap.com/wp-content/uploads/2023/09/TIMOR-GAP-ACHIEVEMENT_2020-2023-English.pdf

Was advertised for 9am local on the Gov Web yesterday, today showing pushed back to 11am, no idea why, a first on me. Fingers crossed, so an item could be prepared for the meeting, hopefully something of interest Metinaro P.I.T gas/lng for e.g. , it was designated last February as FID by end of 2023.

Minutes not available yet, usually the 9am meetings published by 10am UK time, two hour delay, so perhaps nearer lunchtime today, fingers crossed the Minister of Petroleum or Minister of Planning and Infrastructure have something to say .......GLALTH.

Was previously 0.89p and over 1.25p depending on, so no change , it's a monster if it ever gets unchained, even Yeo ho ho expected Chuditch as depending on operational factors at the time, 1.7p to 3.7p per share, factor in the new dilution and that's still in the 1 - 2p range, not forgetting , we should really throw in a little for our other asset, Dunrobin over 200mbo with 66m to Baron, that more than covers the lowly Market Value we still sit at. 🤔

Take Shells 90's mapping or Boil's snail paced partial license catch up and Chuditch 500 - 900mbo/e , remains on the market for FREE........😲🙄

Said that 4 years ago MD, out of our hands, like Shell and others, made many plans , even built a new refinery at Darwin and FLNG ship in local Korean shipyard, both specifically for Sunrise, only to be thwarted by Horta/Gusmao dream Tasi Mane, the dream has turned into a nightmare, having been IMMINENT to their shores for 22 years.

Those flows, would have had the Island SPW Fund sitting at over $100 BILLION, minus what they could have spent developing all their other sectors🙄 (Chud/Sun/Kelp/Troubadour around 5 billion bo/e)

All coming to a head now, Horta and Gusmao have racked up some astonishing air miles, this past 18 months, begging bowl out to all and sundry, to help develop their dream (Guzzy invented Tasi Mane) . We still as do those Majors/Tier1's still sitting on the fence, waiting for clarity on what , will be permitted NOW !🤔

Mega Mult bagger case remains , on PROGRESS. 😉

Remain the same, unless bedroom Andy a complete 🤡, Shell mapped Chuditch in the 90's at 5 tcf 850mbo/e plus other leads on the wider license upside, Boil have snail paced a catch up on a partial 800sq km of 3,571 sq km license, to still have over 3.5 tcf 595 mbo/e plus upside, it should be many multiples of current market value.🤔

As said for 4 years , MINNOW holding a SUPER MAJORS license by default and non tender local award to SG for services rendered, long before Boil came on the scene and failed to RTO, then taking SG out in 3 steps over 2 years or so. 🤔

Has never been a real offshore operator involved with Chuditch, since it became a TL license , vice all previous under Australian licenses, Timor Gap now have an Mou, say to be expanded in scope with PVD Petro Vietnam Drilling, so if all else fails , that's an option TG get PVD involved for our Q4 Drill.

Fingers crossed, a public support message from TL , our plan accepted, comes much sooner and a Major/Tier1 shakes bedroom Andy by the throat and takes it all/part for his , at the right price (2023 spring presentation) 😉😂

Stay strong Filthy, it's coming, the words compromise , a first, plus the possible split production with Woodside all new, starting to wonder if those recent Natarbora articles have some validity, would make sense for a small scale LNG plant to be co-located with Bettano (Oil refinery near Natar) IF they back track on Beaco and Metinaro for one smaller project, all the oil and condensate, will go to Bettano anyway. 🤔

When Shell tried to go FLNG 2008/09 Sunrise (spiked by Horta) Woodside agreed it was a better option, than their previous Darwin plan and also adopted it as their option of choice. Shell and Conoco departed, Woodside stated no interest in TL Plant but would continue to look after offshore, Sunrise on Care and Maint, since 2004.

So those upfront cost , probably closer than back then, as it would appear, without further deep digging, Woodside might have far more competition in sharing available Darwin facilities , or more costs in building refinery expansion. ? 🤔

If Woodside do get to take Sunrise to Darwin, more pipe would be involved, a tie in with the new Barossa pipeline, or a whole new independent pipe to Darwin but to what facilities, Woodside purpose built Darwin facilities for Sunrise for production from 2003, half built when Gusmao spiked in 2002.

If I remember the Santos/Korean group, bought those off Conoco who took them for 2005 processing of Bayu?, so do Woodside have capacity to go to Darwin or will more trains need to be built there also ?. The other side of Darwin is filled by Ichthys huge gas field, which itself recently announced , will be further increasing production. ?🤔

Bayu Undan is still Santos/ENI/SK Korea, they still remain focused on switching the current pipeline, to output carbon wastes from Darwin, with a new INPUT gas pipeline from Barossa (oz timor sea waters) to feed its existing facilities in Darwin.

Last read Barossa given the go ahead, courts overturned but challenges remain , including from Green groups, as some of the Barossa sampling was 50%+ carbon

plan Bayu-Undan Darwin wastes, prob includes Ichthys trains from North West OZ waters to another section of Darwin facilities, at sea, old platform dismantled and purpose rebuild to take other wastes via other pipes or ships, for storage in the long depleted Bayu main reservoir (offset drilled reserves it's last 2 - 3 years of production.

Https://mahakarya.co.id/services/

Mahakarya, have done a lot of various work for TL , they cover a lot of bases/services and Sundagas more than well in with the people that hired them, so would not rule them or other previously used Indonesian firms being involved.🤔

Perhaps but doubt they will stump up for us, on something they do not have yet, Sundagas developed the local industry long before Boil came on the scene, so would imagine, the majority of cost sharing will be with local companies, that have also grown, in anticipation of the TL Waters opening back up, plenty of others nearby, Indonesia (done a lot of TL studies and surveys)

Be brilliant, if they came out and said Santos/ENI group involved as we are the filling in their own sandwich but you know with bedroom mushroom Andy, that little nugget, like many will be kept to himself, until if ever he chooses to use it, an upbeat release, to help the wonga's shift more confetti etc😉🙄 GLALTH

Given the uncertainties around the various pipeline export possibilities, the prospective Chuditch field development will probably be based on a standalone solution, using either a floating liquefied natural gas (FLNG) processing vessel or a fixed platform.

And as in the brokers note, as it has always been, with the will we get a YES denied others , from TL for it.

Worth $40+ BILLION in production value (with upside) based on figures bandied about on Sunrise and why we remain, unloved and splattered with micro chads, taking over from confetti issues.🙄 GLALTH

And still getting well PAID , to do so😲