RE: Issue is length of time and funds required still1 Feb 2024 14:11
2024 both Dunrobin and Chuditch drill to production drill ready, Boil not an oiler, investor in early stage asset, both assets also open to FARM OUT and FULL SALE, at the right price (ceo spring 2023 presentation)
Sundagas own the asset , we own Sundagas, SG on the Island since 2016 and developed Timor Gap and ANPM the local industry orgs, continue to train them. They are the real oil men with Butler a VP of Seapex other SG bod also involved in Seapex, rub shoulders with the industry heavyweight on a regular basis.
Nov 2019 SG awarded free (non tender) Chuditch to set their own still stalled industry going, for services rendered, related Dr Butlers on the two BOD, nepotism, failed RTO, took 33% sg / 25% chuditch and the rest bit by bit since, hence we now have such confetti in play.
Minnow holding a stalled asset worth tens of Billions in production , previously owned by Shell and then Mitra under its then Australian license, dropped off the earth and reappeared as the new TL License Nov 2019...
Has been about the local politics and permissions since day1, day they come out and support or provide a production path Chuditch goes from $0.00c value like Sunrise on Woodside next doors books, to in Woodsides case it was reduced year on year from hundreds of millions for their 34% to $0.00c in 2018.
They are facing a financial cliff, expecting the impasse to be broken , one way or the other Q1/Q2 this year, tick tock, just a hint of a home and those value return to Woodsides books, likewise Chuditch. BOTH sides have stated now committed to progress be that Beaco (tl only option for 20 years but need over $12 Billion to do it from someone) or not.
Not long to wait and Woodside new studies in progress, stated being developed with a bias towards TL production.