Sirius Petroleum Share Discussion Threads

[bronislav] 16/2/2017 22:19

Those 1.7 billion will be chipped away at ,the final tranche will be held back until everything is water tight.Only then will they be switched.Safety has always been kept as the priority .Perhaps why they didnt issue all the shares that they had shareholder approval for last year. They were there to issue just in case.

[htrocka2] 16/2/2017 21:20

deadly..

...that's an excellent point and the obvious answer is 'yes'.... however, in any case, the company have to be careful not to issue 1.2bn shares to a single entity or concert party, as this would trigger the 30% rule whereby the holder would be obliged to make a cash offer for the rest of the shares at the highest price during the previous twelve months.

'could they even be needed to fend off a possible hostile takeover at some point???


The bottom line...yes, eventually they'll be utilised, probably as part of the end game or even within the proposed JOA, but their current purpose is to act as a defence mechanism against unwelcome, hostile predators.


drr...

'Only 6 weeks to April..'(very conveniently close to the 2017-2018 ISA date)

[minichris] 16/2/2017 20:53

What you hinting at BorR?

[drrichard] 16/2/2017 20:37

Good posts, black_or_Red, as usual. In your last paragraph you say that subsea plant will be in place. Lots of other stuff to do.
If we back calculate from oil in June, or gas, or whatever, we can then factor in a drill time, before that the placement and hook up to these subsea bits of kit, before that the drill has to arrive. 6-10 weeks? Perhaps 12. Say early April?
From this end we have the AD to sign off, the EGM to arrange and enact, the relisting to arrange. Phew. Only 6 weeks to April.
Things ought to start happening soon and there is still time. I reckon, anyway. Thoughts anybody?

[black_or_red] 16/2/2017 19:26

For example::
Aquaterra Energy’s conductor supported platform (Sea Swift) allows marginal fields to be developed quickly, using just the jack-up and supply vessel needed to drill the wells to install a complete platform.

Sea Swift (conductor supported platforms)
Sea Swift offers all the benefits of a platform, coupled to the rig based installation of a subsea development. Doing this, the widely used, field proven technology helps our customers to achieve reduced platform costs, lower installation costs, simplified critical path and reduced intervention costs within
shallow water developments.
Sea Swift offers operators different development options, increasing overall development flexibility. It opens up opportunities for accelerated first oil and removes the scheduling barriers inherent in developments requiring multiple
installation vessel types. It has become a key ingredient in minimising field development costs.

The Sea Swift wellhead tower provides an easy solution for adding new slots to existing platforms or enabling wells to be drilled and completed before the arrival of a larger platform for new developments. It is a low cost option that is delivered significantly faster than traditional platforms and can rapidly increase production from platforms constrained by existing slots. It also offers the ultimate application for pre-drilling template operations, enabling wells to be drilled, completed, with dry trees installed, before the arrival of the main processing platform. This allows pipelines to be laid and tied-in before platform delivery and its simple hook-up method enables oil and gas production to begin as soon as the platform is delivered, eliminating the need for rig and construction vessel’s intervention.



This is a very large, complex operation involving several contracters. It is not too much a surprise it becomes long and dawn out. However do not worry if the rig has not arrived, first oil from drilling can come very quick as subsea installations will all be in place.

Using the well conductors to support a simple wellhead platform is an elegant way of limiting the costs of oilfield development in shallower water, especially if you can install the entire structure from a drilling rig and without any special heavy-lift vessels.

[carrbradshaw] 16/2/2017 19:02

The question is black or red - do you think we'll hear anything this year about what's occurring - I'm thinking another year away - these things take absolutely ages.

[black_or_red] 16/2/2017 18:52

One production platform can boast as many as 80 wells, though not all of them go straight down. Directional drilling allows oil platforms to sink production wells into the ocean floor at an angle in order to reach deposits miles away from the drill site.

Even after its wells have run dry, offshore production platforms often find renewed life as a central hub for other nearby oil platforms. The other platforms pipe petroleum over for processing and/or storage.

Offshore drilling platforms often boast full production facilities as well. The liquid that rises up to the platform is a mixture of crude oil, natural gas, water and sediments. Most oil refinement takes place onshore, but oil companies sometimes use converted tanker ships to treat and store oil at sea.

A mobile drilling platform provides everything a team needs with minimal investment. Jack-ups, the most common rigs, typically cost between $180 million and $190 million to build.

Once the exploratory drilling phase is over and geologists have determined that a petroleum reservoir is worth the massive expense, oil companies prepare to establish an offshore production platform. These rigs are designed to last decades. Construction crews typically build the platforms on a nearby coast and then transport them as needed to the drilling site.

Offshore, where a wellhead is located on the production platform it is called a surface wellhead, and if located beneath the water then it is referred to as a subsea wellhead.

Subsea system: This approach takes the idea of mounting the wellhead on the sea floor and applies it to even greater depths -- 7,000 feet (2,1334 meters) or more. Once the well has been drilled by a surface platform, the automated systems transfer the oil and natural gas to production facilities by either risers or undersea pipelines. Subsea wells may be installed on a template where the reservoir fluids from all the wells are channeled to a manifold that is tied back to a host platform.

For multiwell templates, major savings may be possible by transferring the reservoir fluids through one large flowline. ROV intervention has become an integral part of the subsea completion system.

[witchywoo] 16/2/2017 17:23

quite possibly HT. just wondered how many (if any) of us regular investors were in on them

[htrocka2] 16/2/2017 16:45

witchywoo..... the majority of the placings seem to go out to 'existing' shareholders... do you think maybe these holders are part of the 'end game'?

[jenny tulwought] 16/2/2017 15:29

I've never taken part in a placing.
- But I have done a fart in a basin.

[witchywoo] 16/2/2017 15:04

Talk of placings eh...in all my years in this wretched share only 1 person on here has admitted to being in a sirus placing. So hands up folks if you've taken part in one in the last 2 years...just curious, we're all friends on here, right ;)

[kwizza] 16/2/2017 13:09

Would that not come in costs for the rig from COSL Dr R

[dr rosso] 16/2/2017 12:32

Cash needs to be raised in order to pay rig mobilisation fee, so if there is to be a placing to secure the finance required for this, bring it on.

[donald trumpton] 16/2/2017 11:29

Buying hard this morning.

Has to be done.

[uncle john] 16/2/2017 10:31

Re 60944
I heard a presentation from Jim Mellon and others on Monday, He reckons that for the EU, the Euro is the greater risk to stability than is Brexit. For Germany and the north Euro is undervalued and for Italy and the South it is overvalued. Ask the Greeks!

[htrocka2] 16/2/2017 09:27

Another reason why it's got to be soon....

[1sonic] 15/2/2017 23:59

As the days / weeks / months pass / we start to doubt our investment as bum states but hang on in there! All will unfold and profit us!

[1sonic] 15/2/2017 23:54

Bum, glad we agree at last! Just hope it soon!

[bumhammer] 15/2/2017 23:29

1sonic makes sense in his last post. Sit tight. No deadlines have been missed. The silence gives cause for paranoia and frustration which is totally understandable, but relax and let it go. The loose time frame of H1 can mean anytime within that window. With the three signings we'll be OK.Peace.

[htrocka2] 15/2/2017 23:09

This board of late has created it's own pessimism. I have no problem with what the company have declared...that contracts have been signed and they WILL drill by H1. My advice is...if your not happy or a bit worried, sell up, no one's compelling you to stay here. The markets are waiting, in fact willing, to take your shares off you, 'tree shakes' are all part of the game (those that have been in the game as long as I have, will appreciate them as a good sign)...and it's doing its job by extracting shares from weak holders....its pointless driving yourself into the ground and posting negativity...As Warren Buffet famously said....if a share is keeping you up at night, sell the share and get some sleep.

[deadly nightshade] 15/2/2017 23:07

I personaly do not see this 1.7 billion dilution if it happens as a problem, if we do have more then ororo and bigger oil fields are revealed then 4 billion shares in issue will not be a lot in my opinion. I have never bought into this 25p + end game here, i might be totally wrong but with 4 billion shares in issue that figure could be a very tall order. I will just be glad of seeing this rns and am not bothered if this dilution is added into the mix.

[donald trumpton] 15/2/2017 22:56

solarno, pack it up mate. 18 aliases is ridiculous. The thread doesn't make any sense.