Sirius Petroleum Share Discussion Threads

[dr rosso] 06/9/2016 14:48

HTR. 2 Owena O&G subsidiaries, Owena Oil and Owena Energy would fit the bill perfectly as we are looking at 2 Ondo blocks.

See that Havoc Partners LLP has created a subsidiary Havoc Oil Ltd. to focus on operations in Ondo State.

[5uns] 06/9/2016 14:48

Ocean Rig - ORIG

[6cer] 06/9/2016 14:45

Dr R - extremely prolific on here today - I always enjoy reading his stories.

[1alfi] 06/9/2016 14:43

Have Ninogas been accumulating any Sirius shares ?

[solarno lopez] 06/9/2016 14:33

I tend to agree with you Doc

[bronislav] 06/9/2016 14:32

Any wild guesses where the final important percentage has been tucked away safe.?If one exists of course .

[htrocka2] 06/9/2016 14:13

As I stated in an earlier post.... Owena Oil and Gas Ltd, Owena Oil ltd and Owena Energy Ltd....are all different entities.... and all three are involved with OPL 241 (and probably with Ororo as well)





(ps 'Owena Oil' say that they already have production platforms in place in 'Ororo')

[dr rosso] 06/9/2016 14:08

The recent intro of the ref to "reverse takeover" on the Co. website isn't something that has been dreamt up in the last 10 days. It marks the near culmination of a 5 year plan for a UK-listed O&G Co. Sirius Petroleum to be used as a vehicle to manage Ondo State assets. Starting with Ororo, the UK wholly-owned subsidiary Sirius Ororo OML 95 was created in 2012 for the purpose of transfer of the first field/block.
At the Nigerian end, the main Co. is Owena O&G. Owena Energy may well be the Nigerian subsidiary to put into effect the first transfer of assets.

The share shifting has been going on over 4 years in the form of blocks of round figure trades. Are we nearly there yet?

[dr rosso] 06/9/2016 13:41

Reverse Triangular Merger



A form of merger in which:

The buyer forms a subsidiary and that merger subsidiary merges with and into the target company.

The target company assumes all of the merger subsidiary's assets, rights and liabilities by operation of law.

The merger subsidiary ceases to exist as a separate entity.

The target company survives the merger and becomes the buyer's subsidiary.

[dr rosso] 06/9/2016 13:36

creeping takeover


Gradual acquisitions of the shares of a company with the goal of gaining a controlling interest. Shares are purchased over a long period of time in an effort to keep the share price down. There are typically limitations before how far the strategy can be used before a formal bid on the company must be placed.

[1alfi] 06/9/2016 12:48

It would appear that a significant amount of shares are being transferred. The million dollar questions are, transferred from where, to where, and for what purpose. As for the answers to those questions we are all limited to guesswork and speculation.

[dr rosso] 06/9/2016 12:48

Mothballed Obe Field could well be one of the distressed assets being eyed up by Kuti & Co. Interesting that Sirius is considering such additional ideal acquisitions, with infrastructure in place, when it hasn't raised in bean in 4 years for its original small field.



"Cavendish plans for Obe development off Nigeria
Indigenous operator Cavendish Petroleum expects to come with the first oil in the Obe field, located in the northwestern offshore flank of the Niger Delta, Nigeria, in March 1998. The company is shopping for an FPSO, after talks with Chevron broke down two months ago.
"They'd have started production by December 1, 1997," says a source at the Department of Petroleum Resources. "They were hoping to flow the crude through Chevron facilities in the North West OML 95." Cavendish sources say that the refusal by Chevron to allow use of its facility will boost the production cost of the field by $2 per barrel.
The Obe field, located in 20 meters water depth in OML 110, holds 10 million bbl of oil estimated recoverable reserves. Cavendish recently reported highly encouraging results on Obe-4, the first development well to be drilled on the structure. The well was drilled to a total depth of 9,315 ft, confirming the productive potential of two oil-bearing reservoirs. The well flowed an average of 9,500 b/d of 39 degree API oil. Cavendish and technical advisor Tuskar Resources of Dublin went ahead to complete the well as a dual-zone producer.
The field was originally discovered by Japan Petroleum in 1973 with the wildcat well, Obe-1, which flowed 3,500 b/d. The second well, Obe-2, tested only 507 b/d from thin sands, forcing Japan Petroleum to leave the field as sub-commercial.
Cavendish's first well on the field was Obe-3, which was drilled on behalf of Japan Petroleum in 1994 by Conoco. It flowed 1,850 b/d of 34 degree API oil with net reservoir pay of 56 ft. Conoco opted out of the partnership in 1995, citing the field as extremely marginal.

[dr rosso] 06/9/2016 12:40

Given the Co. silence interspersed with occasional official releases containing misleading info and a string of failed promises, one can hardly blame the market for remaining sceptical about any real progress being made. The peculiar high volume trading days are people closer to the action taking the opportunity to top up, switch or pull off little sell/buy-back moves.

[dr rosso] 06/9/2016 12:23

"The company is currently seeking funding to bring OML 95 in Nigeria (in which Sirius has an indirect 40% interest with its partners Guarantee Petroleum and Owena Oil & Gas) into production. If successful it is likely that Sirius would become the operator and this would trigger a reverse takeover"


No move has been made to correct the above website statement. No ref here to Ororo field, but elsewhere it has been officially stated that there'll be wellhead platforms. One of those will be a production platform, giving Ororo a highly strategic function within the OML95 block which contains a number of Chevron-operated smaller fields being brought into production.

[bronislav] 06/9/2016 11:34

Large volume days seem to be every week ,just one day and then back to normal.seems obvious that it's not related to leaks of what may lie ahead and volume on the back of those leaks but more transferring those percentages...Bobos statement about putting certain things in place to bring near term plans alongside all plans together would not just be about bringing ororo to production.If it was he would surely of said plans to bring ororo to production.Plans together meaning more than one.All the focus has been on ororo and that seems to have chugged along at a snails pace ,which has been ideal to create that negative sentiment within the market to allow someone to transfer shares at low share price ,meanwhile the company could well have been beavering away with its TAC team to bring all the other stuff(plans) together.

[htrocka2] 06/9/2016 09:01

O/T

I wonder if this is where SRSP came in? (further parts of OML 95 perhaps?)




“This status is compounded by the actions of International Oil Companies, IOCs, who are now abandoning and/or divesting with wild excuses of supporting government’s efforts at relinquishing more oil fields to indigenous investors

Read more at: hxxp://www.vanguardngr.com/2016/09/marginal-fields-contribute-less-4-oil-output/

[bronislav] 06/9/2016 07:33

Another high volume day ?

[bumhammer] 06/9/2016 07:14

So what you trying to say jamJim?

[jimjam22] 05/9/2016 23:09

PRAISE be the lord!
Blessed so blessed indeed
Highly honored my brother's here
But doc sewed the seed and the seed of the seed.


You're si fine, you're Si fine... HEY MICKY!

[swiz73] 05/9/2016 22:50

How lucky we are that you came thru at the last minute Mick, to guide us to untold wealth! Spooky!

[drrichard] 05/9/2016 22:48

Mayflies live around 24 hours, Mick. You have another 8.5 hours to win the all time greatest Mystic Meg crown for SRSP predictions. Or, like all the other contenders, you will fall, like the Mayfly.

[vatnabrekk] 05/9/2016 22:46

Yes Mick, the weather forecast says it will be beautiful and sunny where I live as well.
No forecast for my shares, however.

[htrocka2] 05/9/2016 22:34

no substance there Mick...have a nice day.

[mickogunsanya] 05/9/2016 22:11

Sorry my loyal brothers. I have been meeting very important contacts. Tomorrow is sure going to be a beautiful day, yes a beautiful day.

[dr rosso] 05/9/2016 20:08

Weds prob our D day as I believe it is deadline day for giving notice of AGM.
I've deleted a couple of previous posts with all the glitch trades