Sirius Petroleum Share Discussion Threads

[carados] 18/9/2016 19:54

Thanks rod☺

[rod99] 18/9/2016 19:51

Carados I don't know why the link doesn't work on here, just go to the company website that's where I got it from. Or I also put it on lse chat board it works from there.

[carados] 18/9/2016 19:18

Can somebody please post the link rod posted as I cannot click on it😢

[dr rosso] 18/9/2016 18:10

Sure enough, it's multi-directional drilling off the main Ororo-2 wellbore, into 6 hc-charged reservoirs (D1-5, G) to start with. Shouldn't be any problem pulling out at least 5k boepd for starters. Dual lateral wells to follow, off the single O-2 main bore.


Be sure also that none of those involved; Havoc, Schlumberger, GVL, Chevron would bother getting out of bed for just 5k. So just where is this leading?


O-1 drilled to 10,000 feet TD. Halted due to high psi. No OWC. Nearby fields indicate that much big stuff is 250m further down in the deeper sands, resulting in a tripling of reserves.




Multilateral completion systems allow the drilling and completion of multiple wells within a single wellbore. In addition to the main wellbore, there are one or more lateral wells extending from the main wellbore. This allows for alternative well-construction strategies for vertical, inclined, horizontal, and extended-reach wells. Multilaterals can be constructed in both new and existing oil and gas wells.
Multilateral systems combine the advantages of horizontal-drilling techniques with the ability to achieve multiple target zones.

Depending on the type of multilateral design used, the target zones can be isolated and produced independently—or produced simultaneously, if commingled production is allowed or if a parallel string completion is used.

[bronislav] 18/9/2016 18:09

In the infrastructure action plan for Nigeria.

One of the specific goals in support of the development of the gas industry is.

to establish a network of hubs comprising gas gathering and processing facilities ,and a network of gas transmission pipelines that will result in a reduced cost of gas supply in Nigeria and eliminate flaring.
Www.afdb.org project and operations.

[dr rosso] 18/9/2016 17:45

RNS 22 April 2016 Operating Update

Sirius is pleased to announce that it has engaged independent petroleum consultants, Rockflow Resources Limited ("Rockflow"), to produce a Competent Person's Report ("CPR")




Turns out that the commissioning date was 13 Jan. We get to hear about it 13 weeks later.

[dr rosso] 18/9/2016 17:35

Lightweight, low-cost, fast-track installation

[drrichard] 18/9/2016 17:28

As you say, Sherlock, it rather looks like game is really on, at long bloody last, I might add.

[sherl0ck] 18/9/2016 14:38

Good spot Rod. Some useful info in there:


Sirius has stated that they intend to install a Conductor Supported Platform prior to drilling Ororo-2. Oil from the EWT will be piped from the platform to a barge, where it will be treated and exported via a shuttle tanker. Gas will be exported via a 5km 8” pipeline to Parabe. For Full Field Development, it is envisaged that further platforms will be installed and the barge be upgraded to take the greater volumes produced. Export of hydrocarbons will be using the same routes as the EWT.

Gas pipeline linked to Parabe.

The naysayers may yet still get to eat a little of DocRosso's humble clown pie!

[rod99] 18/9/2016 13:47

hxxp://www.siriuspetroleum.com/images/uploads/Ororo_CPR_Final_Executive_Summary.pdf

[dr rosso] 18/9/2016 12:53

Dirty little firm as far as the share shifting agents are concerned.

The real business is managed by the Havoc crew and GVL who have taken care to detach themselves from the chicanery

[cornishtrader1000] 18/9/2016 10:34

Can't argue with what Chris outlines above.

[bumhammer] 18/9/2016 10:29

Fair points Chris.
Can you not see anything happening in the near future?
CPR done and an AGM being held back for a reason..

[dr rosso] 18/9/2016 08:47

The funding being finalised atm is less to do with a marginal field than securing LTF for the development of 2 potentially hugely prolific shallow offshore O&G blocks. One acts as collateral security for the other.
The way it should work is that $400m or so should become available in phased batches. Firstly to realise the relatively small amount of cash for the initial 3 wells on Ororo. Successful conclusion of drilling triggers the next stage of the fdp, bringing onstream the other assets which have been quietly prepared.
All required subsea infrastructure is likely to have been completed on the blocks, courtesy of Schlumberger and Chevron.
The next rns is likely to be notice of gm, containing essential resolutions. The most important will be the transformational move into an enlarged entity production Co, with the partners having stakes in the project subsidiary, whereby Sirius has already its 40% indirect interest in the field + block.
A re-admission doc will be necessary, including the full cpr integrated into the Company's field development plan. it will be interesting to see how the marginal field is to act as the central strategic focus within the OML95 block.
Whether it is rto or whether the 241 block get revealed at this stage are open to question. I suspect a partial yes, perhaps not full 241 revelations at this moment but an indication of how its potential is linked to a $400m long term finance facility.
Sp of 2p for starters is looking pretty much nailed on for mid-Oct upon AD publication. Platform rerate as NewCo swings into production/operator mode. Hold for considerably more when O&G get into full flow, this midcap-to-be Co. prob targeting near-on 100k boepd within 3 years.

[bumhammer] 18/9/2016 07:53

Chris, care to elaborate on your statement?
I always thought you were pro-Sirius - what's changed?

[cornishtrader1000] 18/9/2016 07:49

Due to the wall of silence we have no ideal what these shares will be worth. In 12 months they could be .2, 2, 20 or 200p.

[1alfi] 18/9/2016 07:06

What makes you so sure it is not going to rise above 2p.

[chris shiherlis] 18/9/2016 06:52

Waited 8 years for 2p. Great. I wished i had never heard of this vile firm.

[drrichard] 17/9/2016 15:46

You guys any thoughts as to the relative merits of Cantor F vs Cairn, vis a vis SRSP?
CF are bigger, of course

[bronislav] 17/9/2016 14:08

Sherlock ..bobo said last year that he would be setting out certain things that would not only bring short term plans (ororo)but all our plans together (pipeline and others).My take is that all the events of the last 12 months were predetermined and had a timing attached.It is my opinion that we are close to the unfolding of the plan and although we may not see big bucks straight away ,there will be a specific prices that they are working to .ie 2p the initial rise which fits with the ororo valuation once reserves are booked.One would assume the CPR alone is not enough and the licence would also be a requirement alongside an off take deal..Given schlumberger is the likely driller and they are to get monies back from oil flow then the off take deal we have with what used to be BTG may well be for gas alone .

[bronislav] 17/9/2016 13:54

6cer ..looking back at the reasons for the delsigma deal not going ahead seem a tad ambiguous.sirius were suspended for a long time.It was the powers that be that scuppered it if I am reading the rns correct and yet here we are all these years later with ororo still not drilled and those powers that be being very patient with us ..I am only speaking from memory when I say I think Sirius has the right to go back in on ke field but as I say it's from memory so may be wrong.With all our potential seemingly around ondo state I had discounted the delsigma stuff .

[sherl0ck] 17/9/2016 13:49

Frustration is completely understandable but it's time surely to look forward instead of backwards. The newly shaped Board have set out a serious of steps that should lead us to funding and it actually seems like we're ticking some decent things off along the way.