Sirius Petroleum Share Discussion Threads

[carados] 28/8/2016 06:40

Not exactly Pam Ayers is it Dr. 😅

[dr rosso] 28/8/2016 04:27

There was magic abroad in the air
There were angels dining at the Ritz
And a nightingale sang in Berkeley square

The streets of town were paved with stars
It was such a romantic affair
And as we kissed and said goodbye
To 42 Berkeley square

[vatnabrekk] 27/8/2016 22:54

Does anyone on here believe in charts? I'm not sure that I do, but I've just been looking at the "cup and handle" theory. This chart has been forming a perfect cup starting back in March, and looks like it might be complete in a week or two. Then watch for the pull-back (the handle) followed by the break-out that we've all been waiting for.

As I say, I don't particularly believe in these charts theories, but it will be interesting to watch and see if it follows the pattern.

[deadly nightshade] 27/8/2016 22:18

just be nice to see this back above 1p. any poor soul who is sitting here with 4p average would probably be happy just to get their money back. we have got to get some good news here soon just to try and keep up the share price momentum. i think its fair to say that the next couple of RNS here will be the most critical in the history of this company. shareholders will totally lose the last 1 percent of our faith if we are fed more jam tomorrow RNS'S. The fact the company appears to be in total silent lockdown will hopefully mean that big negoiations are on going here.

[vatnabrekk] 27/8/2016 20:35

Ah, sale of more body parts?

[dr rosso] 27/8/2016 20:14

Angel messenger says weds. Hold off until 8.30 chaps cos I have £900 to go in.

[1alfi] 27/8/2016 20:03

Are you able to expand on what those signs are DrR

[dr rosso] 27/8/2016 19:52

Is WRN our obstacle? Waiting on them to complete their investment here. Signs are that it is done, in which case Sirius move is next week.

[1sonic] 27/8/2016 17:52

Bron, what's the 16th September?

[bronislav] 27/8/2016 17:18

We will find out soon enough what Sirius has been doing over the last six plus years.i doubt it concerns mid 2017.The sixteenth of sept may well be pivotal.

[carrbradshaw] 27/8/2016 15:45

'Hoping for developments next week' - thought it was more or less guaranteed by the angel of the North!!

[dr rosso] 27/8/2016 15:24

Hoping for developments next week. The Ororo schedule should reveal the field itself capable of producing 10k+ boepd from 3 wells drilled together so as to take full advantage of ppt exemption. But there is more to this marginal than meets the eye. It's strategic location links it to a number of smaller fields whose licences are held jointly by Sirius/Chevron who will participate in a 50/50 PSA to flow into the main production platform being constructed. Looking at about 8 fields being tied in. Smallish flow of 2.5k pd from each makes the fields uneconomic unless they are linked. The oil channels are also known to be interconnected, with Ororo thought to be a mini depocentre. Chevron licence renewed in Feb 2015, so fields such as the linked West Isan (which has a gas compression platform) should be ready to flow again, in line with Ororo starting late Oct. Mid-2017 should see 30k boepd coming out of Ororo/OML95. Field and block lie in Ondo territory.

As does the adjacent block to the NW which is 241. Value undeveloped = $1bn, rising considerably as production kicks in. Similar to OML18 and OPL245.

[dr rosso] 27/8/2016 13:34

Interesting how these Nigerian indigenous Cos operate. Here's Pan Ocean, with 40% lease ownership of 2 oil blocks. Turns out to be a subsidiary of Marathon Oil.


Pan Ocean Oil Corporation (Nigeria) Ltd. provides oil and gas exploration and production services in Nigeria. It offers crude oil and gas. The company was founded in 1973 and is based in Lagos, Nigeria. Pan Ocean Oil Corporation (Nigeria) Ltd. operates as a subsidiary of Marathon Oil Company.

[dr rosso] 27/8/2016 12:34

So what is Owena Energy, a subsidiary? In much the same way that Havoc Oil is a subsidiary of Havoc Partners LLP, one focused on Nigeria and owed $454k by Sirius.

Check out OE on LinkedIn and you come across names, and these ppl feature on Kuti's friendship network. Daramola, Ojo, Agbelusi, Oluwaseyi. Assume that OE is not a hostile entity. Is it a subsidiary which is overseeing OPL241?

[sherl0ck] 27/8/2016 09:41

Owena Oil is likely one & the same as Owena Oil & Gas. Bit like saying Shell instead of Royal Dutch Shell, or Sirius as opposed to Sirius Petroleum.

We'll probably never fathom all the goings on with Owena over the years, especially as stuff has been agreed behind closed doors. All that really matters now is that the prior issue has been resolved, Owena is 100% state owned and Sirius can crack on.

[carrbradshaw] 26/8/2016 20:49

Do you ever lose faith in this company Dr R - I admire your optimism when I despair of the whole drawn out situation - and still we know no more than we ever did.

[dr rosso] 26/8/2016 20:34

Fri cop held at 45. No p&d sell-off.

[dr rosso] 26/8/2016 20:33

SLE 82% up on return. 62m shares @ 29p became 440m shares @ 54p as a result of picking up a 10% indirect interest in the OML 18 producing block.

The asset has completely overwhelmed the dilution. SLE mcap has moved from £18m to £240m overnight on opening up after suspension.


If Sirius has the dilution already factored in, and grabs a greater (40)% share of an asset block similar to OML 18, on production (Dec 2017 for OPL 241) we are looking at a 50x increase in the current share price ie 20p. Chuck in an extra 5p for Ororo/95 and xp for any other acquired asset.

[dr rosso] 26/8/2016 20:11

We still do not know how this "Owena Energy" entity fits into the picture.

[jamie40] 26/8/2016 16:23

Don't be so harsh on yourself Jim, I'm sure you don't smell that bad!

[jimduggen] 26/8/2016 15:49

About to drop back to march levels.

Nothing changes with this pile of dung

[6cer] 26/8/2016 15:29

Brent now $50.67 per barrel !