Drilling Rig and 900 tonnes of casing arrived in Timor.
Two of the well pads have been prepared and cellars installed in preparation for the drilling campaign. Civil preparations are ongoing.
Timor Resources intends to spud the first exploration well in Q1 2021.
A 5-well exploration program has been designed.
Timor Resources successfully acquired it’s 2nd onshore 2D seismic survey – Fafulu 2019 2D seismic survey across Block C with 147 line km’s.
Timor Resources successfully acquires the Fafulu 2018 2D seismic survey with 183 line km’s across Block A.
This survey is the first onshore seismic survey in 25 years and represents a quantum shift forward in imaging quality.
Timor Resources proudly employed 500 Timorese skilled and unskilled workers on contracts to support the project.
Timor Resources opened an office in Dili in early 2017, employing highly experienced exploration personnel from Australia, the UK and locally from Timor-Leste.
Timor Resources entered into an unincorporated Joint Venture with Timor-Leste national oil company Timor-Gap.
2000 – 2016
Timor Leste became a free, democratic, stable country where independent and democratic elections are held.
Over this 16 year period Timor-Leste worked to become an independent new nation, defining a rule of law, that met the 98% Catholic population’s approval. The constitution and legal framework ensured that the natural resources should be developed consistent with the National interest.
Timor-Leste held three peaceful elections, with opposite sides of politics holding Government through democratic process. Regardless of political party, full support was in place for onshore development of oil. This was a an era of rapid growth, peace and cooperation, with a focus by the Timorese Government, to follow the National Strategic Plan for the development of the nation.
Timor-Leste’s onshore potential had remained untapped for the last fifty years. There had been much focus offshore, with the success offshore exceeding 5 billion barrels of oil recovered from the Bayu-Undan and Kitan fields in the Timor Sea.
12 wells were drilled in the late 1968-1972 with 4 oil discoveries in Block A, mostly light oil in character and up to 45°API.