Sirius Petroleum Share Discussion Threads

[jimduggen] 17/3/2017 13:10

241 next imo

Imo part of the agreement disputes over 241 settled

[drrichard] 17/3/2017 12:57

Absolutely magic, deltaman!

[deltaman2] 17/3/2017 12:52

Absolutely no chance of any oil until we get Dr Bakare Tunde back


hxxps://boingboing.net/2016/02/12/nigerian-astronaut-lost-in-spa.html

[drrichard] 17/3/2017 12:31

Agree, on the COSL timescale and assuming that their contract is a reported, we should kick off every soon indeed.

[solarno lopez] 17/3/2017 12:09

The question about, will there be oil by June and the answer is YES on my timescales

[bumhammer] 17/3/2017 12:06

So are you suggesting we kick off in early April or have I totally misread that?

[solarno lopez] 17/3/2017 12:04

Dr depends on what you mean fast track. Fast track can mean rushing the paper work through or drilling the well.

A number of factors need taking into account to drill a well quickly (fast track)for one are the drillers using vertical or directional drilling for instance.

It should be possible to drill the well on Ororo within 15 to 30 days. Once the drillers start they will more than likely be working 24 hours a day 7 days a week until finished.

It will then be necessary, once drilling has been completed, for the completion crew to prepare the well for production and that can take up to 30 days

Hope that helps to work out time scales

[minichris] 17/3/2017 11:58

Best Case -

20-30 days to ship the rig, 1-2 days to position and 15 + days to drill the well.

Add in a few days for supplies and what not, lets say 2 months to hit TD on a lateral well if the rig ships today for example.

Assuming a ready stacked rig and team/supplies are ready for arrival in Nigeria.

[drrichard] 17/3/2017 11:44

Remember fazertracy finding the Schlum adverts for "fast track" off shore work? Could be us? Either way we have around 4-6 weeks to get spudded if we are to have any hope f reaching the June target I reckon. Tight but doable? Others might have a more knowledgeable view of a doable timescale.

[htrocka2] 17/3/2017 11:40

good find dr...as 1sonic states...'BEFORE June'...implies oil IN or BY June ,ie thereby confirming oil in H1.....1'm going for 3p by the end of June.(after the new AD is announced)

[drrichard] 17/3/2017 11:30

Agree. Bound to be some slippage but if they are to stick to this timescale there is a lot of stuff to do on the ground (or sea as it were)and we should see a good run of RNS from around now I reckon.

[1sonic] 17/3/2017 11:07

Nice find Dr Richard... BEFORE JUNE 2017

[drrichard] 17/3/2017 10:58

Mr B, you would hope so


"The contract is for a multi-well campaign that begins with Ororo-2, before June 2017"

[bronislav] 17/3/2017 10:52

Only made a relatively small dent in those 1.7 billion...next lot before spud.?

[bumhammer] 17/3/2017 10:37

Hopefully by June it will be a full on Bukkake party

[aventador] 17/3/2017 10:36

Yes true Alfie as Bobo said cash generative later this year probably later summer autumn time at the earliest I'd imagine, aslo depends what kind of cash flow we are talking about and on how many assets, will it be just ororo or a whole batch of assets including 241 if so then that's Sirius cash ;)
Although I want to sell these sharpish once every things out in the open the big rewards will be for those who hold for the bigger picture to unfold after all these years another 6-12 months isn't to long to wait if we could see a large double figure share price that's for sure, even those lti pi's with high averages and a modest to small holding could still be big profits to be had no doubt a multi multi bagger brewing that's for sure.

[aventador] 17/3/2017 10:01

If they announce all them assets Rosso in the next few weeks this is going to be huge! Especially if they get to work on all of them and not just ororo as they are letting on then we will see a very tasty share price indeed.

[htrocka2] 17/3/2017 09:36

I believe I read, can't remember when, that SRSP would eventually end up as a Nigerian entity. The transfer of shares to Taglient (if this is indeed what is happening) with this transition currently in progress , SRSP lose nothing...as shares are being transferred into a subsidiary that SRSP have a 50% interest in and an option to regain control at any time, should they so wish, for a nominal sum......very clever.

[dr rosso] 17/3/2017 09:24

I agree that the share transference has been from one subsidiary to another. The loose shares in the process have been hoovered up by enthusiasts taking advantage of a suppressed share price That in itself is enough to keep the pi herd at bay but is also a risk that if set too low it'll bring in a rash of unwelcome buyers. This morning's showing suggests that the process has completed.

Would the big 3 have signed up to definitive major contracts in the hope that funding Partner 4 might join in at some point later? Of course not. We sit back and await the unveiling of the mystery, along with the multiple assets. We know they have Ororo + around 8 further marginals in 95, we know they have 241. Is there another to be added? It also looks like, via Taglient, that they'll be operating in midstream distribution, hence the segmental reporting.

[htrocka2] 17/3/2017 09:12

Transferance of shares finished?....they slipped in another 13m last night.




My view of events.....I believe that Sirius Taglient are soaking up these shares....for the following reason. When oil is hit and produced in H1, SRSP acquires the 40% economic Interest and becomes the major player of the three partners. The current Field Licence is in the hands of Guarantee P. Nigerian legislation stipulates that ONLY a Nigeria Incorporated entity will be eligible for Field Licence awards. The current Ororo field Licence, held by Guarantee P, has about two years to run. When this expires and if the Government are happy with it's compliance the final Licence is issued that has a life expectancy of between 20 and 25 years...As the major holder in ORORO,SRSP will, through the Nigerian incorporated Sirius Taglient, apply and obtain this final licence. This is where the really big money lies.....about two years down the line. (26 months to be exact)
(during which time OPL 241 should have moved to OML status, ie, permit to extract hydrocarbons....and another ball game.)


from the website
Sirius Petroleum Plc (AIM: SRSP), the investing company focused on oil and gas exploration and development opportunities in Nigeria, is pleased to announce that the Nigerian Federal Ministry of Petroleum Resources (FMPR) has agreed to grant the Ororo Field Partners a three-year extension to the Ororo Field Licence (OML 95) ("Licence") with effect from 1 May 2016. Renewal of the licence is conditional on the payment of a Renewal Fee of $500,000 ("Renewal Fee") by no later than 29 July 2016.

[twentysixpointtwo] 17/3/2017 08:54

Volume's certainly dried up. In this case that should be good.

[pipelinepete] 17/3/2017 08:44

Yes, dangotes got his 29.99% back, ready for the news now

[bronislav] 17/3/2017 08:41

Transferance of shares finished?