[skiwi]

Australia and East Timor in oil and gas talks

Australian and East Timorese officials will begin fresh discussions today on how to divide up
oil and gas deposits underneath the Timor Sea.

After nearly a year of negotiations, both sides finally appear willing to broker a compromise
on carving up the oil-rich Timor Sea energy reserves, worth an estimated US$41 billion ($57 billion)...

But

A group of Australians, from the Timor Sea Justice Campaign, will try to gatecrash the negotiations
in Canberra in an attempt to put their views forward on how they believe negotiations should move forward.

The Australian media version of the story sounded rosier

but again

Vets in Timor gas deal protest ads

WORLD War II veterans will appear in advertisements on Anzac Day aimed at embarrassing
the Federal Government over the carve up of oil and gas reserves with East Timor.

East Timor has argued it is being cut out of billions of dollars through an incorrect understanding of the sea boundaries

[skiwi]

Timor oil negotiations continue

...Australian negotiators are understood to be seeking to set aside the boundary talks for up to a century in a bid to ensure that the new $9 billion Greater Sunrise gas project can start earning revenue for both countries.

Australia has passed laws to enable the project to go ahead, but the East Timorese parliament has yet to do the same.

Greater Sunrise, being developed by Woodside Petroleum, would provide a revenue split of 80 per cent to Australia and 20 per cent to East Timor.

Foreign Minister Alexander Downer says if the Timorese continue to push for the boundary change they were likely to miss out on revenue.

But Paddy Kenneally from the Timor Sea Justice Campaign says the Australian government is trying to scare the Timorese into signing an agreement.

Mr Kenneally said the Timorese would be left to live off the crumbs of Australia if it did not stick to its guns...