Sirius Petroleum Share Discussion Threads

[pipelinepete] 24/10/2016 10:07

Payday buys this week? Resolutions? Where's the news Srsp board??!??!

[aventador] 24/10/2016 09:56

Chart certainly looking like its on a steady climb back to recovery, few weeks to the agm they surely must be close to getting funding completed, as for ht rocka earlier saying 5p in 22 months I did mention similar last week as some the warrant dates are 2018/19 I believe, obviously let's hope not though and we are closer to 5-10p 2017 ideally sooner, all depends on how much they've progressed or are willing to tell us, also depends if everyone has there shares now in the right place which seems to be the case finally.Gla.

[cornishtrader1000] 24/10/2016 08:07

Someone keen to put £5k in first thing.

[solarno lopez] 24/10/2016 07:20

How the 'ell did you know that Doc nothing like a tot of rum especially when there's a nip around......( too subtle for most ) !!

[cornishtrader1000] 24/10/2016 06:30

Is THIS the week we kick on, or should it be kick off.

[drrichard] 23/10/2016 22:24

Blimey, Ht, I am hoping for more than 5p in 22 months, my friend. More like like 8-10 pence I hope.

[htrocka2] 23/10/2016 22:17

If Havoc have already, quietly, accumulated 100m shares at these levels then flogging them off to II's at 1.5p would make good business sense, otherwise it's not their MO...they've always taken stakes in the companies they work for. Further more, a 2p warrant is of absolute no value if you're going to exercise them at 2p (you might as well buy the shares at 2p)...it only has real value if exercised above the exercise price, ie, 4p for instance, that way you get the shares and a 100% 'bonus'. This is why I believe that the share price will be some where around the 5p area within 22 months as we approach the exercise date line.

[dr rosso] 23/10/2016 21:40

Interesting point made by Sherl0ck last week about transferable warrants. As with HNR, is Cornhill or ano surreptitiously passing Sirius w over to iis. 329m exercisable. Get em for free, flog em off at 1.5p. Another nice little earner, trousering £5m.

FFS, get the O&G news out.

[drrichard] 23/10/2016 19:44

Very nice find, ht

[dr rosso] 23/10/2016 19:41

October 2014


In 2012, Nigeria was the twelfth largest oil producer in the world and the largest in Africa. The country has an abundance of gas (rich in liquid and low in sulphur) in gas reservoirs or produced along with oil as associated gas in the Niger Delta region. These reserves make Nigeria the country with the 9th largest gas reserves globally. Worldwide, Nigeria flares the second largest amount of natural gas after Russia; however, it also has one of the lowest net electricity generation rates per capita in the world. As a result, the Federal Government of Nigeria has a plan to achieve by 2020 an annual target of 40,000 MW of electricity. Over the next three years, the power sector is estimated to require up to 3.5 billion cubic feet per day ("BCFD") of gas, and could possibly require more than 5 BCFD when power plants under the National Integrated Power Projects ("NIPP") scheme are privatised. In March 2014, it was announced by the Nigerian Government that gas prices would be allowed to rise to international levels over the next three years to 2017.

[htrocka2] 23/10/2016 19:16

Enquiries:

Jefferies International Limited [phone]
Toby Hayward
Jack Pryde


Dr...do you think that these 'band of brothers' concluded that if we can do this for others, why not set our own operation up.....and call it SRSP?

[dr rosso] 23/10/2016 19:00

OPL241 will become OML97

[htrocka2] 23/10/2016 18:40

An addendum to Dr's post..

This has parallels to srsp in that... 'As a result of the successful implementation of its work programme, OPL 469 was converted to Oil Mining Lease (OML) 112 for a term of 25 years in 1998...'


Amni International Petroleum Development Company Limited (AMNI) was originally granted oil prospecting licence (OPL) 469 on a sole risk basis on the 24 August 1993 for a term of 5 years by Nigeria's Ministry of Petroleum and Mineral Resources as part of the Nigerian Government indigenous licensing programme. As a result of the successful implementation of its work programme, OPL 469 was converted to Oil Mining Lease (OML) 112 for a term of 25 years in 1998. OML 112 covers approximately an area of 437 square kilometres (169 sq mi).



Let's hope that the implementation of the work programme on 'Ororo' etc, will also extend the current 3 year field licence to 25 years.

We've about two years or so left on the 3 year field licence, Ask yourselves, logic would dictate that srsp would wait until they obtained the 25 year licence before selling. Obtaining this 25 year extension would send the share price and valuation through the roof. I'm prepared to wait.


(ps...ororo is in about 27ft of water.....they'll probably use a 'jack up' rig as did Afren for Okoro in 46ft of water)


Had AFREN, once valued at £1bn, not accumulated so much debt, it would have probably survived...fortunately it looks as if Mr Pryde has learnt the Afren lesson)

[carados] 23/10/2016 15:40

Can't wait until next week's trading☺ hopefully boom time ☺

[dr rosso] 23/10/2016 13:30

Should be seeing a concertinaed version of how Afren developed its Okoro field between June 2006 and early 2008, including a substantial $200m project debt funding provision. Details below. Expect Sirius to mirror these developments, within a much shorter time span, with O&G to flow from Q2 2017. share price should follow the AFR rise during that period. Much more to come from Sirius once the Block assets are revealed.




"The Company is now entering the second phase of its growth strategy, the actual
development and production of proven oil and gas fields. The management team – with a strengthened development and production focus – is well placed for this next phase and to realise Afren’s near term target of 15,000 – 20,000 bopd of production.

Afren announced the Production Sharing and Technical Services Agreement with AMNI in June 2006 to appraise and develop the Okoro and Setu oil discoveries located in OML 112 in the shallow waters of the eastern Niger Delta. Within six months of announcing the agreement, Afren, as Technical Service Provider, successfully
drilled two appraisal wells, Okoro-3 and Okoro-3ST, between September and December 2006. The successful results of the appraisal programme fulfilled all pre-drill objectives and have significantly delineated the development. The independent reserves verification completed by Netherland Sewell & Associates Inc – prior to any reservoir modelling studies – estimates a 2P reserve level of 32 mmbbls gross. The Field Development Plan for the initial development of the Okoro field, which was recently submitted to the Department of Petroleum Resources in Nigeria was approved in March 2007.
Development drilling is due to commence in the second half of 2007, using Global Santa Fe’s Adriatic VI drilling unit. Afren completed discussions to secure an FPSO in April and announced the signing of a contract with Bumi Armada Berhad for the Armada Perkasa, contracted for an initial five-year term. Target for first oil is on schedule for early 2008, with peak production expected to reach 15,000 to 20,000."


Main man in that consortium project funding for AFR back in 2007 was none other than Jack Pryde, Sirius' current Chairman who will shortly step out of that role, to be replaced (imo) by G. Lyon .

[dr rosso] 23/10/2016 12:45

A rum Gaymount from Sol or a nothing-doing no-news Oct. Both scenarios looking extremely unlikely.

[cornishtrader1000] 22/10/2016 18:28

'Backbone infrastructure completed by 2017 will enable Nigeria to supply 1billion cubic feet of gas to western Nigeria.'Let's hope the Sirius share price is reflective of our importance.

[htrocka2] 22/10/2016 14:47

Just a thought.....Interesting that Cantor's latest 'target' price that went from 1p to 2.3p is conveniently above the warrant exercise price. If this is part of a strategy then all we need is a bit of substance from the company to get it there. Fingers crossed for next week.

[dr rosso] 22/10/2016 09:15

Stay there pal. We'll all be able to join you. Mountgay rum is Sol's tipple.

[drrichard] 22/10/2016 00:10

Oh, man, I would love to, but I will be on the high seas in the Caribbean 😟

[1sonic] 21/10/2016 23:48

Dr Richard, are you going to AGM?

[drrichard] 21/10/2016 23:31

Nice one Sonic. My average is 0.69 so a bit to go yet till I turn a profit. Not selling for a bit either as I want a lot more than just a profit