TEG (ASX) Ann: Binding Offtake Agreement Signed with BP Singapore

Originally posted by Luvlife: ↑

Yes Rooster the closing of Kwinana refinery was a very sad and bad day for many.
Bad for TEG, but I felt so sorry for all those individuals that lost their jobs, their families, all the suppliers and contractors that are involved with the refinery. As you know it affected so many on top of the 600 jobs.
You having an office there would have seen and felt the devastation first hand.
So real bad and real sad but we got to keep moving forward.
After yesterdays news from RT/TEG we are now about moving forward with our oil and it was made official.

Hopefully Rooster if we can get this refinery up and going it will employ a few from Kwinana again, sure nothing like that scale but will mean jobs to quite a few as I think she will run 24/7.
The next 6 months for us here at TEG should be massive in many ways but I am just so pumped up about this refinery and the massive impact it will make to the TEG.
Refinery
Now that there is some positivity about on here at HC I would like to share with you all some thoughts I have as I have been doing lots of thinking about the Modular Refinery.
What we know at present from RT as fact-
He has employed a team of people that are currently working on the feasibility study to build and operate a Modular Refinery to produce Diesel.
Location will be at or near our stabilisation plant.
The Modular refinery will be purchased from USA or Canada and shipped in pre built modular capacity.
My understanding is they have been looking closely at the operation and process of the Eromanga Refinery in Qld in size and operation format.
RT has mentioned a cost in range of $40 - $70mil in an interview.
It has been mentioned on here that the cost of refinery will be prohibitive but I see many solutions to this.
Being state of the art in design and production I think the profit margin alone will have more than enough reason to find investors to build this refinery.
The Govt being at State and Federal level will endorse this refinery with stealth because as we know fuel security in this Country is a major issue and to have supply and production Oil/Diesel in the State of WA is win/win for all.
Fuel Security.
As I mentioned above employment for local individuals.

But my thinking is this-
If I am right now thinking like a BIG miner in WA with mines all over the place that live and breathe on Diesel to drive my trucks, heavy mining equipment and generators. You all know the picture they must have diesel to survive.
That may all change a bit down the track but honestly I can't see that transformation in under 10 years from now.
You know hydrogen/Electric and so on.
This BIG Miner is getting pressure to be more greener and more politically correct by the day.
You also think well we used to be supplied Diesel by Kwinana but now we are supplied by Asia imports and if anything happens with that supply our massive business is stuffed. We can only keep so much in storage. Diesel fuel is core to our billion $ business.
What about a bio-diesel fuel blend from our refinery.
TEG wants a refinery so lets help them build it and we will use some form of oily crop from WA that will constitute say 20-25% of the Diesel and make it a better for the environment and we will then have a much cleaner and greener mining operation.
Better for the environment, makes us look real good for all our mining operations.
We get confirmed supply on a weekly basis as the TEG continues to produce/supply oil and will have state of art refinery to produce from..
That refinery cost of $70mil is nothing to us and more than likely it won't be as much as that because I would think there will be a form of State and Federal funding involved as well.
Bio-Diesel blend from out own refinery using our oil and product/crop from our Aussie farmers.
Confirmed buyer of our oil/diesel and better for environment. Win/Win
Confirmed and booked margins for our bottom line at TEG as well. Win/Win
What do you all think about this?

Expand

You can sense the sheer frustration amongst the peers in that Australia does not have an oil refinery and the federal leadership mindset of just "digging it out of the ground" model.

Where is the "One Stop Shop" mentality? We have all the raw materials.

As investors start to get back behind oil and gas, we could see a transformation in this industry with a brighter future than the past decade with new ESG tech for Oil anf Gas. A diverse mix of Energy which includes a cleaner model for fossil fuel, rather than just removing it.

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Last 2.2¢		Change 0.001(4.76%)		Mkt cap ! $39.89M

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Last updated 15.49pm 01/05/2024 ?

You can sense the sheer frustration amongst the peers in that...

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