Nigel Wilson, Energy writer – Talks on a maritime boundary between Australia and East Timor concluded on schedule in Darwin yesterday after both sides agreed there was little chance of early agreement on key terms.

It is understood no agreement has been reached on the amount of money East Timor would receive if Australia's existing maritime boundary were maintained, with the parties reportedly some way apart.

A formal statement issued by the Department of Foreign Affairs and Trade said talks were productive. "The talks will resume after the election at a time and venue to be confirmed. We are continuing to pursue a creative solution," a DFAT spokeswoman said.

"Creative solution" relates to the view of East Timor's Prime Minister, Mari Alkatiri, that it could compromise on boundaries or on revenue from Timor Sea resources development, but not on both.

Australia has argued strongly that it will not cede its belief that the border should be at the edge of the continental shelf, which at some places is only about 80km from the East Timor coast.

But East Timor wants the boundary set at the mid-point between the two countries, or at least the lateral boundaries of the joint petroleum development area in the Timor Sea recalculated to include all of the Greater Sunrise gas reservoir and the producing Laminaria/Corallina and Buffalo oil fields.

At issue is ownership of oil and gas reserves the UN estimates could be worth $US30 billion over the next 30 years.

The Dili delegation to the Darwin talks, a continuation of meetings in Canberra last month, was led by East Timor's Secretary of State for Resources and Energy, Jose Teixeira, a close supporter of Dr Alkatiri.

Mr Teixeira has previously expressed caution about whether a deal could be achieved that would allow East Timor to ratify previously negotiated arrangements before the end of the year that could lead to early development of the Greater Sunrise gas reservoirs.

Australian Foreign Minister Alexander Downer said he wanted the negotiations to be concluded by Christmas.

The Labor Party is understood to have told East Timor that resolving the boundary will be a priority if it is elected on Saturday week.