Sirius Petroleum Share Discussion Threads

[dr rosso] 23/9/2016 12:38

OML 110 sits between OML95/OPL241 and the coast. It has just been handed back to Ondo State by Delta State. The Obe Field lease is owned by Cavendish but they no longer have financial partners and so production has ceased and the project mothballed. Chevron refused to let Cavendish use their pipeline infrastructure. Location and state make it a target for Sirius. Credit to minichris for this one.


Of more pressing importance is the reason why the Gaffney Report on Ororo deeper sands/reserves has been covered up. Sirius has all that data but chose not to pass it over to Rockflow for inclusion in the recent cpr.

From Dec 2013 RNS containing Schlumberger's assessment
"Ororo-1 well did not encounter any hydrocarbon water contact in any of the seven hydrocarbon bearing reservoirs which suggests that the contacts are located down dip of the Ororo structure."

Highly likely that Gaffney-Sirius-Schlumberger-Havoc all pretty much know by now where that crucial owc is. Schlumberger will drill down through G to prove it up. Should result in a tripling of reserves if other nearby fields are to go by.

[bumhammer] 23/9/2016 12:22

Dr Rosso - Block 110?
First I've heard of that one..
Explain please

[solarno lopez] 23/9/2016 11:20

I like the theory Doc to the extent I will buy a few more

[dr rosso] 23/9/2016 11:14

I'm buoyed by the increasing agitation of our resident troll. Desperate Dim. If there was just one sign that a huge deal is being pulled off, the unsavoury presence of this vociferous bb babboon pulling himself off speaks loud.

[solarno lopez] 23/9/2016 11:02

perfectly timed Doc

[bumhammer] 23/9/2016 11:01

Yes Sol, I agree mate.

[superhuperdrugdealer] 23/9/2016 11:00

There will be a suspension,but it won't be brief it will be prolonged and have a nasty ending for some!

[dr rosso] 23/9/2016 10:55

And no need for knives or a variety of rotten fruit

[solarno lopez] 23/9/2016 10:51

that crossed my mind Doc ...wrap everything up in one meeting

[dr rosso] 23/9/2016 10:45

In which case, I think that we'll be seeing a brief suspension through to a GM in the latter part of Oct.


Unlike Ke, the important thing is that the 3 year licence extension has been approved by MPR. I suspect that all infrastructure is pretty much in place by now, with most prepatory work completed. Once re-admitted, the NewCo as operator can submit the permit applications to DPR. A promised 2-week turnover would mean drilling can start in Nov.

Above all, this venture is not about a marginal field. It is a hub which will bring block 95 back into serious oil and gas production, to which will be added a further major offshore 1bbn+ block 241, and quite possibly 110 too.

[solarno lopez] 23/9/2016 10:42

if they don't get the results out by the 30th the shares will be suspended, its an AIM RULE

[flazak] 23/9/2016 10:37

Delays don't surprise me, getting something on time would !

[dr rosso] 23/9/2016 10:34

Do not be surprised if the HYR, due out by 30 Sept, is delayed by two weeks.

[dr rosso] 23/9/2016 10:31

Why would Rockflow send a Summary Report, dated 6 Sept, to an address which is different from Sirius' registered address of 42 BS?

Why have all the technical details of the field (and hub) been withheld?

Why did Sirius not provide for inclusion the technical report from Gaffney which was done on the Ororo deeper sands in 2012?

[superhuperdrugdealer] 23/9/2016 10:15

You may think so...Have a great investment and keep up the opinionated vibe man ;)

[bumhammer] 23/9/2016 10:07

Drugbloke.

My conversation with you is over. You were owned.

Have a productive day :)

[herman_m] 23/9/2016 09:39

This time next week we should be in receipt of the H1 half year report which will include a commentary on achievements and outlook from the Chairman. Very interesting to see what this will contain. What would be even more interesting is if it isn't delivered on time, delayed for the same reasons as AGM delay. We've got an interesting week ahead of us. GLA

[solarno lopez] 23/9/2016 09:12

oh dear how unsavoury

[aventador] 23/9/2016 08:03

The Share price will only move when this company actually get a move on and gets this long winded funding finally finalised and start putting all these plans and expectations into fruition.

Nearly a decade under there belts something must be going on behind closed doors to attract all the big players here but its getting to the point now people have had enough and want an end to this never ending debacle.

Good luck LT holders let's hope they get something price sensitive announced by end of the year we deserve something for our patience.

[minichris] 22/9/2016 20:53

The share price will only move on ratification of ownership and increased reserves.

2p on Ororo % ratification. Id argue thats guaranteed.

241 is valued at a maximum of 25p on its own (based on a speculative 1bboe and 3bn shares in issue). Id also say that its going to be lower than 25p, maybe 15p.

Deeper sands of Ororo could tripple its value so add 4p to the upper sands initial 2p.

If were talking other assets - who knows.

My magic number is 32p... but a real world 20p much further down the line seems plausible.

[cornishtrader1000] 22/9/2016 20:12

If this pans out as you say Dr I actually think this could go higher.

[cornishtrader1000] 22/9/2016 18:40

Cheers Bron. Appreciate it's an impossible task, was looking for the level of confidence opposed to holding someone to a figure.

[jimduggen] 22/9/2016 18:33

Awful but will it booom?