Sirius Petroleum Share Discussion Threads

[x54v] 27/3/2017 16:08

"Sirius Petroleum has signed a contract for a seabed survey that is needed as a preparation for rig positioning. This should enable the market to relax in the hope of a spud dare in the not too distant future…"

[sherl0ck] 27/3/2017 15:41

Efficiency is important so how about 2 weeks for Polaris to potentially survey the WHOLE Ororo licence area and determine optimum and safe siting of each of the planned 'multiple wells' referenced and not just O-2?

Whilst we might feasibly opt to initially drill O-2, conduct the EWT over a longer period of time, secure some revenues and then assess siting & organise funding of further Ororo wells, it also wouldn't surprise me if we're perhaps planning a much more ambitious approach; more rapidly utilising COSL's 'fleet' of available rigs on this 'multi-well campaign'

After all the time and effort spent on thorough preparations, when this does all kick off, I don't thereafter anticipate a slow, conservative approach. Certainly not with the kinds of partners we've signed up. I think the pace on Ororo in H2 and the acquisitions of other assets could surprise people. We should be targeting the mobilisation of multiple COSL rigs this year for drills on Ororo and elsewhere.

[deadly nightshade] 27/3/2017 15:20

malcysblog has a little positive snippet about sirius today

[htrocka2] 27/3/2017 15:12

Some of the changes in the PIB....there are also tax changes...that a potential buyer will need to know.




'In addition to the foregoing, the PIB proposes that Oil Prospecting Licences (OPLs) and Oil Mining Leases (OMLs) will be renamed as Petroleum Prospecting Licences (PPLs) and Petroleum Mining Leases (PMLs) to reflect the emerging realities in the industry.'


you would have thought that they would have renamed them to reflect the gas aspect as well?...unless they define gas a petroleum product.

[deadly nightshade] 27/3/2017 15:03

yep takeover prefered just to put everyone invested here out of their misery, can you imagine if it went into production, we don't get told anything now and the pr is next to nothing so we would probably end up with one rns every once in a while telling us naff all. sound oil must be one in a million where their shareholders get kept informed of every move. as i have said before if all this no news end up in the favour of us current shareholders then fair play to sirius but if this turns out to be about one small oil field then we will be asking ourselves whats this all been about. i am prepared to hold tight till the end of june and then weigh things up then.just looking at all the positives the last year lets hope this results in a big end game

[bumhammer] 27/3/2017 15:02

Adven, Got a 32" Bush plasma thanks to my Argos store card.

[aventador] 27/3/2017 14:54

I hope Rosso gets one prediction right after all these years a swift take over would be preferable to another few years drawn out production process.Sell up give us our 10-25p plus and we can all move on finally.

[solarno lopez] 27/3/2017 14:53

hahah good man BH I wish I knew

[bumhammer] 27/3/2017 14:43

Sol, can I have the date to stick in my diary please?

This way I know when I can go and tell the benefits office to stick it.

[solarno lopez] 27/3/2017 13:35

Guys just relax all will be revealed shortly

[bronislav] 27/3/2017 13:28

Carc.it could be infrastructure that they are waiting on but the likes of Stein and havoc would have surely had any subsea work sorted by now.unless the rig is drilling elsewhere and they are waiting on that although I doubt that very much ....A rig would have been available soon after they all signed up ,probably a while before the AGM.

[carc] 27/3/2017 13:11

Bron, although the PIB is out of Sirius' control, I don't see it factoring in much risk. The proposed terms are largely in the public domain and it's clear Nigeria needs external investment more than it needs Nigeria. Just got to get it over the line.

[bronislav] 27/3/2017 13:00

Carc.something outside of Sirius and co,s control is what Sirius are working towards ,has that stopped progress ?.personally ,I doubt it ..All being positioned for whatever the last few years have been about and the reason the long list of experts are associated with us.

[dr rosso] 27/3/2017 12:58

No AD, no sign of funding. The pointer swings back to T/o at point of production.
What's on BBC Cambridgeshire at this very moment?

[carc] 27/3/2017 12:49

Stalling progress to tie in with PIB, perhaps? We don't need the PIB to drill Ororo, but seems like it could be a requirement for the 4th partner to finalise on whatever else we're involved in. Maybe their role emerges with first oil from Ororo, which could explain the apparent stalling?Suggests to me that all will be ready to go at the same time... one way or another...

[witchywoo] 27/3/2017 12:41

it sure doesn't doc!

[dr rosso] 27/3/2017 12:26

So it seems that the 3 available COSL jack-ups, "Power, Seeker and Boss", have remained stacked idle for 5 months, still stuck in the Pacific region sat waiting for a call up once an indigenous local has carried out a 2 week seabed survey by end-Apr on a field licence that Sirius has been working on for 5 years.

Doesn't really stack up, does it.

[htrocka2] 27/3/2017 12:23

With respect to 'indigenous Involvement'...it seems that an earlier rns,12/02/15, suggests that 'the lead in items' are to be manufactured locally



'The long-lead items required for the drilling of the Ororo-2 development well have all been identified and are either in-Country or in close proximity in West Africa,...'

Also the 29/06/16 rns states 'Exploration programmes are to be approved by the board' this implies that all parties, COSL, ADD,, Havoc, Schlumberger, will have to agree along with the SRSP board, Polaris' final decision. For the JOA to succeed, a consensus must be agreed by all concerned......(which no doubt will be a formality).

I was surprised when Rockflow's CPR was an 59% improvement on Schlumberger's 'Independent Assessment'......You never know, Polaris, a local entity with local knowledge, may come up with an even greater number. With reference to the URL below, it looks as if Chevron's data has already been discarded and in the bin.

[solarno lopez] 27/3/2017 12:05

the 3.1m late recorded bargain is a BUY just after 8 this morning

Now there is confidence

[bronislav] 27/3/2017 11:47

The whole idea of the delayed payment was to ensure rigs and manpower were not sat idle..haha really!!

[solarno lopez] 27/3/2017 11:15

A bit of profit taking today and only to be expected.

Once these profiteers are out of the way, we move to a fresh level

[parisv] 27/3/2017 11:04

Dr Rosso would the delay of had something to do with the other partner we are waiting to hear about?

[htrocka2] 27/3/2017 10:26

Nigerian participation (where practicable) is a statutory requirement..


Oil and Gas Industry Content Development (NOGICD) Act of 2010, which became law on April 22, 2010, and giving birth to the Nigerian Content Development and Monitoring Board (NCDMB),





The Indigenous Nigerians themselves will be shortlisted for the oncoming Marginal Fields round.