Sirius Petroleum Share Discussion Threads

[shez20] 12/5/2016 20:27

Pacino or de Niro?

[dr rosso] 12/5/2016 19:58

Sirius BoD has spent 4 years pumping out a load of fairy tale tosh about striding towards Ororo field production, whilst at the same time knowing full well that Sirius never had producer status, couldn't possibly flow anything, and had every intention to avoid doing so. That includes sounding out funding offers with no intention of getting any STF for first oil. The backers simply wheel out Coco from time to time for some puppet-on-a-string claptrap or wheel in the office junior to cobble together some half-hearted error-ridden garbage they can pass off as an rns.
Nothing incompetent about this crew other than the failure to complete with Ophir first time around. All revolves around 2 blocks, 241 and 95.

[deadly nightshade] 12/5/2016 19:44

Dr R, ophir could be buying back more shares in coming weeks as it was voted for at their agm this week. As great as all this sounds and hopefully it will all come to fruitition i just do not get or feel the urge to buy more shares. The current share price should see folk loading up left right and centre before good news comes but that is just not happening for some reason. It just feels fantasy land that one day we are all going to wake up and get this block buster RNS that is all going to make us a good few quid. I just get the feeling at the moment that a watched pan never boils.Dr R you've been here years and to keep positive for that long i take my hat off to you i just hope your theory's come true as you always are so convincing to read.

[dr rosso] 12/5/2016 18:29

Which means that through 2011 to 2015 their focus was to prepare the assets then SELL OFF the Co. In shell form, the intention could never have been to flow oil.

It would seem that the prospective buyer (Ophir) pulled the plug in late 2015.
Plan B ... bring in CN to take the Co. forward into self-funded production, so transforming the shell. Looks like Ophir is now back at the negotiating table and GVL is is in the process of completing an enormous gas project business deal.

I repeat that Ophir, with a big bundle of treasury shares + $0.5bn cash to burn, is desperate for revenue from producing assets. Niger delta shallow offshore is hugely attractive for them. I think it'll be a deal.. Ophir jv with NewSirius O&G. Nigeria gas master plan/Lekki FTZ/Dangote/Oluwepo (OilWorld) need big gas by 2017.

[solarno lopez] 12/5/2016 17:14

spot on Doc

[dr rosso] 12/5/2016 17:12

Berkeley Sq to become Berkeley St

Nothing is going to move any further forward until we see the AD which transforms Sirius into an O&G Producer, complete with full funding for the acquisitions.

[aventador] 12/5/2016 17:08

Fingers crossed.

[howdlep] 12/5/2016 16:36

but a nice 1.5m buy just after the bell. Bodes well for tomorrow

[comedy] 12/5/2016 16:29

lol mr.19minute holder...u cant make it up..shares 376384

[comedy] 12/5/2016 16:28

de ja vue posting??

[tim duggan] 12/5/2016 15:46

The volumetrics have been concluded and they are incorporating the FDP into the CPR.
It's a precursor to the funding so it's fair to assume that its the condition on the funding likely thrashed out at number 42 or a requirement of our rumoured rto.
Either way it suggests that Berkeley square is no longer needed.

[htrocka2] 12/5/2016 15:40

A quick story..


Just to get back to the gas business...it reminds me when I was lad, I used to work at British Sugar, as it was then. One sugar beat would produce, on average, 16% of sugar, the rest was disregarded as waste......until they found out that cattle loved it and thrived on it. They now make more money on the pulp pellets from the by product than they make on the sugar itself....and so it may turn out with SRSP and it's gas.

[carrbradshaw] 12/5/2016 15:37

Is new CPR completed - where have you read that?

[tim duggan] 12/5/2016 15:33

With new CPR completed can we assume number42 has done its intended job and if so where are we going next.?

[htrocka2] 12/5/2016 13:19

As CPR's are not an exact science, let's do some maths... In Schlumberger's 2013 CPR, they quoted the ororo gas at being estimated at 390.66 Bscf (high end). Rockflow gave a conversion factor of 5800 cubic feet of gas as equivalent to one barrel of oil...crunch the numbers and the gas comes to an equivalent of 67m barrels of oil. That makes it five times as much gas as oil. The problem with the gas is that no chokes or pressures have been given so we don't know how much will come to the surface in a given day....but it looks promising. The gas, which has no doubt recently been the subject of new 'flaring' laws may have been originally over looked has now become an important factor in the equation and negotiations..

[howdlep] 12/5/2016 13:13

Price being paid has bee rising slowly since yesterday. Time perhaps for this to bounce?

[drrichard] 12/5/2016 12:45

We know that NOMADS can be pernickety to the point of obstructive. Sherlock, thus, these words would not be there unnecessarily. I agree with your thoughts.

[tim duggan] 12/5/2016 12:33

Sherlock.There is no doubt that for whatever reason sirius has been disappointing as an investment,the reasons behind our demise to the lowly so perhaps will never become public knowledge but given we have lots of evidence in rns,s pointing to a link up with Owens ,plus our limited foray into nnumber42,,New INDEPENDANT CPR,Graham Lyon ,Simon Hawkins and lockins,subscriptions etc.Shareholders could be forgiven for thinking that when bobo said he had put plans in place to bring it all together it had a timeframe and that timeframe may well be close to a conclusion.
The wording in the rns also leads me to believe that Oromo and any other assets are close to production as IOC,S would be unimpressed by the gas from one well on Ororo,although we don't know what gas is coming our way from chevron interest in oml 95.
Drilling "OFF" ororo mentioned in the rns. Is in my view not a mistake .

[sherl0ck] 12/5/2016 12:21

Speaking of interpreting RNSs, what do folk make of the following?:

"The potential to exploit gas IN ADDITION TO THE OIL REVENUE has generated interest from international oil and gas companies to secure and purchase such gas..."

It seems as though it can be read in different ways. If it just simply said 'exploit gas' then it would be very straightforward. If it said 'exploit gas in addition to the oil' then you'd also still interpret it as such. But the inclusion of the word 'revenue' is curious and potentially gives a slant that it's BOTH the potential gas that can be exploited and the 'oil revenue' that Sirius will receive that has generated IOC interest, even though there's only mention of gas being purchased.

Interest in just the gas or wider interest in Sirius? Maybe I'm reading far too much into it but it does seem a little ambiguous. Badly written, badly interpreted or hinting at more?
Either way, RNS confirmation of gas commercialisation is a massive positive, not only in terms of the additional revenue, but for me it's a signal that this is indeed a large hydrocarbons project that goes beyond Ororo.

If you're really struggling to fund a single well, do you really start muddying the water further by considering various gas monetisation strategies? Now maybe the additional gas angle helps seal the deal with a wavering funder but that's not my reading of things.

"With the potential High Case volumes of gas available, alternative gas monetisation schemes are also being reviewed"

And there's the caveat that this could be a significantly larger gas project. Large enough to generate interest from IOCs (would a high case of 133 bcf gas from Ororo be enough?) and large enough to potentially demand something other than a simple containerised Marine CNG solution.

Prior to any more recent 3D analysis work, 241 was thought to be 60% gas. If the overall block is anything close to the scale supposed, you'd want to put in place a pretty robust large scale strategy to exploit and monetise that gas. And to think you can still buy these shares sub 0.3p!

[dr rosso] 12/5/2016 11:16

DPR has not yet formally renewed the Ororo licence. I suspect a production licence will be issued to NewCo O&G Production Co. as part of the process currently underway.

[htrocka2] 12/5/2016 11:05

Sher10ck... I've given up worrying about the Field Licence. I posted an article about a week ago that stated that Chevron had an eight year battle to get their portion of OML95 Licence revalidated..... they got it in the end. The only concern being that there may be a reduction in the physical area as a result of re-application. The Licence was a major concern with the Del-Sigma deal. The company said that the Licence was verbally agreed and 'on its way'...but it never came and the deal fell through.

[sherl0ck] 12/5/2016 10:55

Anyone know the latest with the Ororo OML 95 licence which expired in March 2015? Seems like that's a far more fundamental piece of the jigsaw than the individual drill permit.