Sirius Petroleum Share Discussion Threads

[bumhammer] 04/4/2017 16:09

Not saying its not a possibility. Just asking why Pete thinks so

[1sonic] 04/4/2017 15:55

Why not Bum? Where is the 4th Partner??? Why hide them??? 4th partner will take us out.

[pipelinepete] 04/4/2017 15:21

Looking like a takeover now

[astralvision] 04/4/2017 15:07

IG Index not taking any more orders to buy at the moment

[htrocka2] 04/4/2017 13:00

I can only imagine those selling today are non ISA shares crystalizing tax free gains and utilising individuals current years allowance thereby reducing future CTG by the 2016/2017 allowance amount.

[astralvision] 04/4/2017 12:07

free money, wonderful.

[dr rosso] 04/4/2017 11:41

The easiest £50k tax-free gain you'll ever make as 0.8p in Apr becomes 1.8p in May

[sherl0ck] 04/4/2017 11:00

Gonna be some high volume days later this week. I have nearly 5m to safely tuck away into 2017-18 family ISAs and I'm sure there are many more needing to do similar after recent purchases/placings etc.

[dr rosso] 04/4/2017 10:32

Lots of ppl will be wanting this to stick at or under 0.8 for a 2.5m full ISA switch from Thurs. They'll have 7 trading days before sp-mover news starts to come through.

[htrocka2] 04/4/2017 09:47

We've got a bit to go to catch SEPLAT...however, SRSP mentioned 60k bopd ...four years ago.



'ENERGIA currently produces 4,500 bopd... but expects to increase to 15,000 bopd'.....as do others.

[edgein] 04/4/2017 09:02

Drrichard,

Well it suggests there's more than just the untested formations on Ororo as the company has suggested a mult-well campaign targeting more than just Ororo. So we can assume they've got the old data sets from Chevron courtesy of the licence and the Nigerian authorities. What could the other assets be? Cheap exploration on the licence in shallow water. CNOOC/COSL have deep pockets, so it depends I guess on what Ororo-2 tests, then we may get a bit of adventurous drilling depending on what other targets might be on the seismic. The company is certainly hinting at drilling beyond O-2. It makes sense after shipping the rig all the way from China. COSL will want to make sure their future pay back is safe first though with O-2 multi lateral, may be O-3 multi lateral before they'd do much more imo. An expo well or two in shallow water would be small beer to COSL and there is the possiblity that Ororo appraisal may bring in higher reserves from the untested oil zones. Certainly a very heavy weight vendor financing partner to have, all will be revealed in the weeks and months ahead as we suspect.

Regards,
Ed.

[solarno lopez] 04/4/2017 08:53

Therefore the implication of COSL being involved is, the assets are bloody marvellous !

[drrichard] 04/4/2017 08:52

Ed, tends to suggest that we more to play with than meets the eye, doesn't it?

[edgein] 04/4/2017 08:45

How Bobo and co managed to get vendor financing from a company like this is quite impressive, not unknown for a small AIM outfit to sign up financing (EUA did it with Sinosteel too for $176m). But to get COSL in is a triumph in itself:

"COSL Drilling Pan Pacific Limited is the International Branch of COSL China for the Jack-up Division and operates a Fleet of 8 high specification Jack-ups.

COSL is the leading integrated oilfield services provider in the offshore China market. Its services cover each phase of offshore oil and gas exploration, development and production. Its four core business segments are geophysical services, drilling services, well services, marine support and transportation services.

COSL as a whole, possesses the largest fleet of offshore oilfield services facilities in China. To date, COSL operates 31 drilling rigs of which 27 are jack-up drilling rigs, 4 semi-submersible drilling rigs, 2 accommodation rigs, 4 module rigs and 6 land drilling rigs.

In addition, COSL also owns and operates the largest and most diverse fleet in offshore China, including 75 working vessels, 3 oil tankers, 5 chemical carriers, 9 seismic vessels, 4 surveying vessels, and a vast array of modern facilities and equipment for logging, drilling fluids, directional drilling, cementing and well work-over services, including FCT, FET, LWD and ERSC."

Regards,
Ed.

[solarno lopez] 04/4/2017 08:42

One gets the feeling that positive developments are close to hand !

[edgein] 04/4/2017 08:40

Morning drrichard,

Well they're probably still in bed dreaming of spudding Ororo-2. :)

About the 10th of April Seabed survey will complete allowing selection of the Jack-up rig. Like semi sub rates and drill ship rates have halved since 2008, jack-up rates will be attractive now too. Good time to get drilling before the oil price recovers in the next year or two.

"This is a requirement by rig providers and as such the Company has been instructed by COSL Drilling Pan-Pacific ("COSL") to conduct this survey in order to finalise the rig selection from the fleet of Jack-up rigs owned by COSL, ahead of the anticipated multi-well campaign."

Regards,
Ed.

[solarno lopez] 04/4/2017 08:38

Good morning DRR and what a good morning it is !

[drrichard] 04/4/2017 08:32

Morning Sol, Ed,
Where is every one? 10% up and no ones shouting Boom!

[edgein] 04/4/2017 08:22

Well someone snapping them up as the vendor finance from CNOOC subsidiary, SLB and ADD covers jack-up rig, well services and well analysis. Moreover as Dr Rosso pointed out the Chevron well only tested a small portion of the oil formations in the previous well so upside aplenty from the impending appraisal programme. Also as this is barge offloaded and shipped by tanker when in production they don't have the same issues as the onshore producers so that's also a bonus.

Regards,
Ed.

[solarno lopez] 04/4/2017 08:19

Good start to the day

[htrocka2] 03/4/2017 23:30

17:38
0.77
1,440,000

17:08
0.77
2,975,000

[thedoogster] 03/4/2017 17:33

I think so Dr R

[drrichard] 03/4/2017 17:31

Do I spy a very chunky late buy?
2,975,000 and 0.77