Sirius Petroleum Share Discussion Threads

[6cer] 15/3/2017 11:43

So where have srsp been getting the money from to buy these other assets ?

[pipelinepete] 15/3/2017 11:43

NO.4's just popped to the bank

[x1000] 15/3/2017 11:40

....and what role if any will be left for SRSP once this is all packaged ?
Were the Investor Show and Podcast merely attempts to portray a run of the mill company trying to drum up some interest in an attempt to created a smokescreen for what is really going on ? No way does it fit in with the hints of what is going on in the background. Is NO. 4 at the dentist ?!! or Specsavers ?

[deadly nightshade] 15/3/2017 11:38

another positive in podcast was when bobo said schlumberger have knowledge about other oil fields close to ororo. very good news that comment

[dr rosso] 15/3/2017 10:55

The Board also continues to review additional asset opportunities, as well as distressed producing opportunities, that require funding.

O Kuti Chief Executive Officer 28 June 2016



Seemingly can't raise tuppence over 6 years to get their own smallish marginal into production, yet eyeing up acquisition of other assets + distressed opps. Nearby mothballed Obe and Seme fields perhaps, where both owners have run out of cash.

[dr rosso] 15/3/2017 10:36

Dunno what Sherl has spotted that everyone else has missed but for me the key RNS is that of Sept 2014. Extracts...


"I am delighted that we have entered into an Agreement with BTG Pactual Commodities (UK) LLP ("BTG Pactual") relating to the marketing of crude oil from the Ororo Field and other marketable products from other fields owned by Sirius Petroleum. BTG Pactual has agreed to be Sirius' exclusive representative to perform all necessary marketing, negotiation, sales and contract execution in relation to the sale of crude oil, from the Ororo Field and other fields subsequently owned by Sirius. BTG Pactual may also market other physical crude oil of Nigerian origin sourced by Sirius from fields which it does not wholly or partially own. Sirius has agreed with BTG Pactual to split equally the proceeds from the marketing of any crude oil from sources introduced by Sirius outside of its own production, which allows us to market crude where opportunities become available.

The underlying quality of our assets ... the strategy for Sirius remains to acquire off-shore assets. Specifically, we will target assets which have been drilled but do not tie-in to any onshore infrastructure, do not have significant farm-in fees and where we have the right to operate and to market the crude oil produced."

______________________


The fields unquestionably are the 8 or so Chevron-owned or Chevron-divested marginals in the more remote Northern part of Block OML95, lacking pipeline infrastructure so requiring marine cng shuttle into Ororo hub. Whether Neal and his pal Spencer have muscled in on that BTG (now Engelhart) contract remains to be seen.
Note that Kuti has just said that Sirius controls the offtake.

[aventador] 15/3/2017 09:54

80p would be lovely

[bronislav] 15/3/2017 09:46

I think drrosso,s point about who is runnig the show is valid ..no disrespect to the board but whomever brought hawkins and lyon in will be the ones running the show..The worst it appears is behind us and all the past years secrecy will start to be revealed.Interesting that the top notch numbers man is no longer needed ,crunch the figures and we have a value,a value for what exactly and a value for whom.

[drrichard] 15/3/2017 09:37

A good spot Ht. Just what we need.

[dr rosso] 15/3/2017 09:27

Most savvy pis will be well aware that Sirius is playing an important role in a huge and complex gas development. The scale of the enterprise will nevertheless be revealed as surprising, but maybe not when you consider who the illustrious partners are. Quite likely they'll be involved in mid-stream distribution too, using the Taglient subsidiary. Note that they've cornered the offtake as well to cement control of their part in the operation. Hence segmental reporting.

The podcast was credible, and the "back very shortly" sign-off says it all really.

[htrocka2] 15/3/2017 09:13

Nigeria are pulling all the stops out...



(no doubt to tie in with the $9bn refinery completion date)

[minichris] 15/3/2017 09:12

erm.... ok?

[jenny tulwought] 15/3/2017 08:56

I'm sure you're not - I was merely pointing out that, dependant upon whether the omission of said comma was deliberate (or otherwise), the general acceptance here-abouts that you've assumed a 'paragon of virtue' status, may appear yet to be universally recongnised as such innit tho.

[6cer] 15/3/2017 08:35

Xerot, another brain donor has popped up this morning.

[pipelinepete] 15/3/2017 08:29

3p, I think £'s

[dr rosso] 15/3/2017 08:25

Not exactly peanuts is it. Shift a couple of million at 1p into the ISA. At 3p within a month, there's a £40k gain totally tax free.

[pipelinepete] 15/3/2017 07:37

20k isa this year doc boom

[dr rosso] 15/3/2017 07:22

Why the Podcast? Well, there are more than a few ppl suspicious about what is really going on behind the scenes. The share trading volume has increased dramatically during certain days in the last 6 weeks. MMs taking up to 7m at a time despite large apparent sells going through. Hundreds of seemingly matched trades, two around the £150k mark. This is not normal trading. One suspects a couple of Cornhill traders on overtime.

Cue podcast. A method of letting out just sufficient info, ie producer-to-be, as an explanation for excessive share trading. Saves them having to put out a reveal-all Ad Doc RNS until they are ready. The podcast acts as a stalling mechanism for the share-shifting process to be completed. Distressed seller is a convenient red herring.

It does look like we are within 2-3 weeks of full revelations of the real O&G developments. They may be going for vertical integration rather than a simple upstream producer. Nobody believes that this is just about a modest marginal oil field. With Apr 6 looming, it'll be tempting to drag it out for another £15k ISA shift, but note that much of the matched stuff we are seeing is well above that limit.

[aventador] 15/3/2017 07:17

No rns again I think fourth partner will soon be announced and finally the share price will rise again been a long time coming.

[twentysixpointtwo] 15/3/2017 06:48

Nice one Jenny ;-)

[jenny tulwought] 15/3/2017 06:18

Oh for a comma.

wwwww,

(unless he's referring to minichris?) ,

[bumhammer] 15/3/2017 01:27

All that work experience will finally pay off 6cer