Timor-Leste: East Timor Eyes Billion-Dollar Oil Bonanza, as Wildcat Drilling Starts in 2019

Oct 1, 2018 | Damon Evans, Forbes
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Timor Resources will drill its first exploration well onshore East Timor in April 2019 as it attempts to uncover an oil bonanza for the Southeast Asian nation. Consultancy Netherland Sewell, which carried out an independent assessment of potential reserves for Timor Resources, estimates the privately-owned Australian company is sitting on 127 million barrels of potentially recoverable oil onshore East Timor.