Sirius Petroleum Share Discussion Threads

[bonski1] 23/8/2016 14:19

Funding ..got to giggle when you keep hearing the funding drivel.

[drrichard] 23/8/2016 13:39

As you know, Sherlock, NOMADS are there to ensure that wording is accurate, so one has to assume that they have signed that off, in the presence of documents that support the statement :-)

[sherl0ck] 23/8/2016 13:21

Since only one well has been drilled on the field (a 'fact' according to RNS 22/4/16) they'll still need more appraisal wells to determine the lateral extent of the hydrocarbons and assess the deeper sands. I assume that while O-2A was going to cost circa $25m, they'll still go for this and hopefully two more for similar money. Perhaps the drill permit always covers up to 3 wells, I'm not sure.

Interesting that in same aforementioned RNS it states: "Directors remain optimistic that the Company will secure the necessary funds to achieve commencement of production." There's often potentially quite a marked difference in the amount of money required to 'commence production' as opposed to simply 'drill a well'.

[htrocka2] 23/8/2016 13:07

'because there's a major stumbling block that they're keeping secret thats why - what else could it be ffs ?'


A couple of years ago they stated an Ororo1 re-entry plan.....now put to one side.

Last year they came up with 'an Ororo 2A appraisal drill permit' (singular)....that never got used......since then we've now a three well scenario. It's as is the target is constantly shifting. It would appear that legislation came in shortly after the 2A announcement and has changed the ball game. No point in an Appraisal Permit now....just go straight for the throat and in at the deep end with a gas drill permit.(that I'm sure they'll tell us about in their own good time.)

[chris shiherlis] 23/8/2016 12:33

Bum hammer stop posting this utter drivel. Why dont you go and make love to yourself, again!

[carrbradshaw] 23/8/2016 12:28

Dire times - they need to do something quick or wind it up here as there must be a major problem here in going forward. No one can take this long getting things moving unless there is a major stumbling block in the way!!

[shez20] 23/8/2016 12:18

All smiles by Christmas! Yeah bobo will because he will be in Thailand on another holiday skiing with two ladyboys!

[6cer] 23/8/2016 12:14

At the next egm or agm the bod must not be questioned but INTERROGATED.

[shez20] 23/8/2016 12:04

If we read between the lines this year has been just as bad if not worse than the last three! Good work bod!

[bumhammer] 23/8/2016 11:53

1Alfi - A simple yet very important question..

Anyone got an answer?

[1alfi] 23/8/2016 11:52

The company received approval to drill a well on the 26 October 2015, raising shareholders enthusiasm that a well is going to be drilled and progress made. Here we are nearly twelve months later not even knowing if we still have the required drill permit authority to drill a well.

If Sirius is going to be a production company then what is stopping them from drilling a well ?

[drrichard] 23/8/2016 11:49

No mate, cannot think when I could be last bothered to red thumb a poster, I generally ignore. Very happy to green thumb though, esp Sherlock-again! I just wondered re the new poster out of nowhere,as it were.

[bumhammer] 23/8/2016 11:41

Dr Richard, you out Red thumbing some posts this morning ;)

[htrocka2] 23/8/2016 11:28

good post Sherl0ck

We don't know what the proposals will be in the up and coming AGM Resolutions.For all we know the BOD may decide to recompence their back pay via more shares, that may indicate the necessity for keeping a low share price There seems a definite 'hint' that the hand brake is still on and as far as 'paying Mike H's accrued salary from a few years ago, 'Since SRSP last attempted a suspension back in 2010, out of eight directors Pryde is the only one to have survived. It makes you wonder if all their costs have been lumped in as well.

I have to disagree with Aventador's 'normal' year comment....the BOD have acknowledged planning for THREE wells at Ororo and in view of Guarantee's tax liability, we also know that an SRSP Partner has access to cash... possibly as much $100m.


Ask yourselves, why would Chevron, Shell, NNPC etc find it necessary to spend $1.2bn by 2018 to drill further wells in unison on existing well sites . The answer of course is the new gas flaring laws and the requirement for upto an extra three mandatory wells for gas extraction per site. Since the introduction of this law, SRSP have now to deal with the same problem...with extra costs that obvious will induce further delays. Even if we'd have been up and running three years ago, the gas law would have caught up with us eventually. In view of this fact, there must now be a lot more work, extension of programmes and higher construction costs involved on the Ororo project than was originally envisaged from the initial re-entry of Ororo plan.

[drrichard] 23/8/2016 11:26

BillyRay, Good Morning. I see you are posting on several resource stocks. Are you in to SRSP? Have not sen you post before?

[billyrayvalentine] 23/8/2016 11:23

handygandhi
23 Aug'16 - 07:56 - 54052 of 54072 0 0
Hotrocka2 . . . . . . . "from an update rns
'San Leon is seeking to raise a minimum of $200 million via a placing of equity at a targeted price of 105 pence per ordinary share of San Leon (approximately a 261% premium to the price at suspension of 29.125 pence)"


I think you'll find it's 361%


...not anymore, they've reduced it to 45p, see RNS from 11/08

[bumhammer] 23/8/2016 11:20

Sherlocks post didn't need reposting. we are all more than capable of seeing it thank you. You have a thing for reposting others far more articulate and interesting views, this is no doubt as you have none of your own apart from doom and gloom and all about poor old Thundercat.
Do one.

[bumhammer] 23/8/2016 10:57

Lol @ Adventador
Try and at least be original please.

[aventador] 23/8/2016 10:53

Booomhttps://www.youtube.com/watch?v=H50gNQkfKIA

[bumhammer] 23/8/2016 10:43

Come off it you Old Todger, you use your other accounts to see what I write because you cant resist it can you, you wrinkly old snake.
Wheres your equally moaning friend Topgun? or Thundercat? Oh yeah it's you isn't it.
GFY.

[aventador] 23/8/2016 10:35

BumHammer - 23 Aug 2016 - 10:11 - 54064 of 54066 - (Filtered)Aventador - 23 Aug 2016 - 10:18 - 54065 of 54066 - 0Nice post sherly I agree we will eventually see a good outcome here it's just these last two years have been painful, pis have properly been screwed.Give us that 10p and we can get some compensation from it all at least.BumHammer - 23 Aug 2016 - 10:27 - 54066 of 54066 - (Filtered)Why does this reprobate always post after me?