Sirius Petroleum Share Discussion Threads

[black_or_red] 15/3/2017 18:27

Mr Kuti has confirmed in kind that his company will be going into production. The three wells will target 3 seperate zones : D1/D2 ; D3/D4 ; and G. The field plan when we reveal will show how the field is part of how a big picture features the block, then they expand to other offshore. It comes along very nicely but first focus is gas and how they optimise flow rates from Ororo. Number 4 is likely a big rich player in gas.

[dr rosso] 15/3/2017 14:43

2013

“There are only very few indigenous oil and gas operators bringing new gas supplies to market. It is mainly down to Frontier and Seplat,” Dele Kuti, head of oil and gas, power and infrastructure at Stanbic IBTC, told OBG. “There is significant gas potential on Chevron’s divested blocks, but the legal challenges to the divestment process are delaying this.” Although Shoreline holds about 1trn scf of proven gas reserves on OML 30, which it acquired from SPDC, it has delayed plans to restart production"


Oladele Kuti joined Stanbic Bank Nigeria Ltd, a member of Standard Bank of South Africa in 2006 after a brief stint at Standard Chartered Bank. Dele has about 17 years of banking experience and is the Head of the Energy Finance group and a member of senior management at Stanbic IBTC, member of Standard Bank of South Africa. Oladele has been involved in energy finance deals and actively participated in the finance structure of the deals in excess of $2 billion including; $625m oil field acquisition and development funding; $95million drilling rigs acquisition; $200million field development funding and various downstream structured trade finance in excess of $500m. He is also a member of the core global energy finance team for Standard Bank New York and London.

[dr rosso] 15/3/2017 14:31

"Who is picking them up is more important in my view"


Not the hnw clients of Partner 4 by any chance? And a nice little tip for Cornhill boys for moving then over. Cantor holds things steady around the 76-78 mark.
Good work, Cs. Nearly done the lot? OK Bobo, back you come, hit us with the O&G.

[htrocka2] 15/3/2017 13:54

'Who is picking them up is more important in my view.'


I'm still of the opinion that entities connected with both Owena and Guarantee P, who will soon be obligated to divest percentages of their respective Ororo holdings to SRSP so as to satisfy FTSA compliance and update their respective websites accordingly, are buying up shares in SRSP, not only to compensate for the loss of economic interest percentages but it also allows them access to the other SRSP assets via their holdings, hence the 'partnership' continues onto SRSP's following projects. We know from past tax records how much Guarantee have in cash...and I'm fairly certain that both Owena and Guarantee are the 'existing' shareholders, who keep picking up the share issues at ridiculously low prices, that the bod keep referring to.....my opinion only.

[bronislav] 15/3/2017 12:58

Who is picking them up is more important in my view.

[dr rosso] 15/3/2017 12:55

Supposed big seller yet mms will take 7.5m. Makes no sense.

[htrocka2] 15/3/2017 12:36

NO.4's just popped to the bank

No 4 is the bank..

[carc] 15/3/2017 12:17

Did you think they were a backstreet, Dutch, fast food shop, Jenny?

[jenny tulwought] 15/3/2017 12:13

One of the most interesting parts of the podcast for me, was the pronounciation of 'schlumberger' - I've been hoplessly wrong all this time, what a numpty (sniggé).

[x1000] 15/3/2017 11:44

Deferred payment !

[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.