DILI, 17 April 2026 (TATOLI) – Timor Resources Pty Ltd, a private Australian oil and gas company engaged in onshore oil and gas exploration in Covalima municipality, provided an update on the successful drilling of three onshore wells in Covalima municipality during a meeting with President José Ramos-Horta.
Timor Resources has been exploring oil and gas in Covalima since 2021, and has drilled three wells in the municipality, namely Feto Kmaus, Liurai, and Lafaek.
During the audience, representatives from Timor Resources reported the successful drilling of three onshore wells.
The company also expressed its commitment to moving forward with the development of these fields, with the goal of producing oil and gas in the near future.
“This initiative is expected to play a vital role in boosting the local economy and infrastructure,” the statement added.
The team and the head of state also discussed progress in onshore energy exploration and development plans in the country’s energy sector.
Chris McCown, the company’s Interim Managing Director, briefed President Ramos-Horta on the company’s strategic plans to transition from exploration to the development of Timor-Leste’s natural resources, marking what both sides described as a significant step in the nation’s energy sector.
McCown emphasized that the project’s primary objective is to provide energy security and sovereign energy resources for the people of Timor-Leste.
Following their meeting with the President, the delegation is scheduled to hold further discussions with Prime Minister Xanana Gusmão and other key government regulators to coordinate the next phases of the project.
It is recalled that in 2024, Timor Gap, the state-owned oil and gas company, and Timor Resources signed a settlement agreement to end a commercial dispute over the exploration of the three wells.
The signing of the settlement agreement put an end to the commercial dispute between the two companies and allowed both parties to continue oil and gas exploration in the southern municipalities (PSC TL-OT-17-08 (Onshore Block A) and TL-OT-17-09 (Onshore Block C).
The two companies also signed a Joint Operating Agreement (JOA) to continue oil and gas exploration activities.
In 2023, Timor Resources announced that it had invested more than US$64 million in the exploration of the three wells.
The results of the drilling of the three wells indicated hydrocarbon discoveries, with fluids identified as oil, and gas.
Timor Resource announced that hydrocarbon pressure was above 8000 psi, revealing the potential for a significant recoverable reserve.
Timor Gap with Timor Resources signed the Production Sharing Contract (PSC) with ANP in 2017 for both onshore blocks, PSC TL-OT-17-08 (Onshore Block A in Covalima Municipality) and PSC TL-OT-17-09 (Onshore Block C in Manufahi & Ainaro Municipalities) and became a 50:50 joint venture partner with Timor Resource as operator.
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