Sirius Petroleum Share Discussion Threads

[htrocka2] 12/8/2016 11:26

'Partner' is a term that can be used loosely & formally'


I'll have to go along with that one as Oilworld never acknowledged Owena as a Partner which has parallels with Guarantee not acknowledging SRSP as partner.

[htrocka2] 12/8/2016 10:33

'Hydrocarbons flowing? I suspect my heating oil delivery this morning was a far greater amount than has been pumped there in recent years.'


If that's the case then Oilworld are in a similar boat as SRSP in that after 11 years, since 2005, no oil out of 241..... 11 years salary for a senior GeoScientist, he must be worth £100k p/a..(£1m+)...and no oil.....an expensive business this oil game.....virtually a bottomless money pit.

[dr rosso] 12/8/2016 10:15

Chevron divest. The lease is held 80/20 Owena/Oilworld. The actual eventual outcome of the award was that OW paid nothing whatsoever. They were awarded the block but couldn't come up with the promised cash. Back came Owena, paid the $20m and in so doing took 80%. In effect, OW finished up with 20% for free and retained all operator rights. The block licence runs until March 2020.

As far as I'm aware the block contains 5 existing appraisal wells, all drilled by Chevron. Oilworld's MD is Olawepo, who also heads up Transnational Energy Corp whose HQ is San Ramon (also Chevron's HQ). TEC partners Bresson Energy (owned by guess-who) on a string of power stations down the Lagos/Ondo State coast and they all are going to need gas, lots of.

Most knowledgeable guy on this O&G basin is Roland Barbullushi, a co-D of Comet Energy along with GVL. Note that the 40% limit rule for foreign participants only applies to fields. It is thought that Sirius will take up to 60% of 241. Of course, if they merge with Owena, the Enlarged Entity has 80%, and no farm-in fees.

[sherl0ck] 12/8/2016 09:11

HT - Oilworld as designated operator will naturally be the key entity recognised by the DPR regardless of their smaller licence share. 'Partner' is a term that can be used loosely & formally. As far as I'm aware NNPC/NAPIMS aren't involved in 241 and they have no equity participation. I also think it's a stretch to say 3D seismics were completed in 2005 as his LinkedIn profile just lists stuff from that point to present. Hydrocarbons flowing? I suspect my heating oil delivery this morning was a far greater amount than has been pumped there in recent years.

[dr rosso] 12/8/2016 07:52

TEC is worth following up because it shows what this guy is up to ...

[htrocka2] 11/8/2016 22:29

I found this interesting...

We have deduced on this board that Owena Oil and Gas, the Ondo State vehicle, are the majority percentage holders of OPL 241 and 'Oilworld' hold the remainder, yet even with their lesser percentage Oilworld claim the DPR as one of their 'partners'. If that is the case then maybe we've well and truly under estimated the size of OPL 241. IF, as suggested in the link below, that the DPR are partners to 'Oilworld' and OPL 241, then one can assume that Owena, srsp, Oilworld, the DPR...are all in this together. Further more, if the 241 3D Seismic was completed in 2005, ie, 11 years ago,.. then OPL 241 is probably already pumping hydrocarbons.


(Technical presentation on OPL 241 to partners, NNPC/NAPIMS and DPR )


(undoubtedly the financial backers to 241)


NAPIMS represents the equity holdings of the Federal Government of Nigeria


NIGER DELTA OPL 241 1,257.44 kms(squared)

[carados] 11/8/2016 22:08

Anybody reakon we might see an rns tommorow? Yeah rite lol 😅

[aventador] 11/8/2016 21:23

Bloody good question Rosso bloody good question !!

[dr rosso] 11/8/2016 20:55

How is it possible that an O&G Company, founded in July 2008, can spend 8 years sitting in one of the world's most prolific basins, pulling every trick in the book to AVOID producing even a teaspoonful of oil?

[htrocka2] 11/8/2016 20:14

O/T

The Saudi's have solved the oil 'problem'...when the price of oil drops by half....just pump twice as much....simples (and to think that the head of OPEC is a Nigerian)

[ropot] 11/8/2016 18:13

TSTR, that's another Corvus share, yes? One is enough thanks, although I've looked at it occasionally in the past, but not recently.

[drrichard] 11/8/2016 17:28

You are not the only one, although I would add TSTR to your cited two

[ropot] 11/8/2016 17:21

My modest savings are in this and KDR, both massively in the red, but they seem to be companies that I feel are different from the usual AIM targets which attract the usual P&D masses.

I too have learned a lot in here, through the explanations of the dodgy shenanigans that go on behind the scenes, and more recently that anyone can get in on placings rather than those in the industry, and presume that I've been buying shares that the Big Boys were selling over the past year, knowing that they'd get many more at cheaper prices in future placings.

Anyway, it's been the recent media visibility, and particularly the Investor Show, which has helped me believe it's all been worth waiting for since the appearance of that Glencore 60k bopd RNS which first drew my attention to SRSP just over three years ago...

(Although this week the thought of being squeezed out completely by a concert party consisting of all the insiders has resulted in a couple of restless nights)

[carc] 11/8/2016 17:07

Completely agree Witchywoo. I'd say there's a few on here at it, ones that most people wouldn't suspect.

[shez20] 11/8/2016 16:55

Cant see any of the decent folk on here doing that witchy woo ;)

[handygandhi] 11/8/2016 16:03

Well spotted Bron.

[witchywoo] 11/8/2016 16:02

only way to make money on this share is to get in on the placings and rinse your shares in the ramps - simples ;)

[mikeclem2] 11/8/2016 15:52

I have spent several years on oil and gas projects in Nigeri and yes I was involved with Train 6 LNG plant on Bonny Island which was my last project there. However I did not get involved with this share until a few years later when working in Cape Town on sub Sahara onshore oil exploration so no real insight into the Sirius infrastructure or project planning,

[mikeclem2] 11/8/2016 15:52

I have spent several years on oil and gas projects in Nigeri and yes I was involved with Train 6 LNG plant on Bonny Island which was my last project there. However I did not get involved with this share until a few years later when working in Cape Town on sub Sahara onshore oil exploration so no real insight into the Sirius infrastructure or project planning,