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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sirius Petroleum Plc | LSE:SRSP | London | Ordinary Share | GB00B03VVN93 | ORD 0.25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.40 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
09/4/2017 19:15 | Only believe what you read in the rns' 'Under the terms of the Vendor Finance Contract, COSL will extend delayed invoice and payment terms to Sirius which will have the effect, dependent on successful drilling, of deferring a significant portion of the cost of the rig until after the Company commences the production of hydrocarbons, but is otherwise on normal industry terms. The contract envisages a drilling programme on the Ororo Field and could be expanded to include other potential offshore assets. ...the bit I'm struggling with is..... 'but is otherwise on normal industry terms.'...sounds like money to me.(and this was before the 'other two' signed up) | htrocka2 | |
09/4/2017 19:01 | Oh dear, all this speculative bb nonsense. Only believe what you read in the rns. Subject to satisfactory completion of the preliminary works programme, including Environmental Impact Assessment and Drilling Site Surveys, and subject to rig availability, Sirius anticipates that production from the Ororo field could start as early as Q3 2012. "The Ororo field itself represents an optimal first asset, with an existing flow test and with a potentially rapid time to first production." Oct 2011 | dr rosso | |
09/4/2017 18:28 | So the seabed survey gets completed, COSL position their rig, Add Energy provide personal and the expertise to drill the well, Schlumberger provide all the other necessary services - the well is drilled and oil is flowing. So how does the 4th partner fit into all this? Because the 4th partner is not required to bring us to first oil, is it fair to conclude that the Vendor Financing Consortium has a farther reaching remit than just drilling Ororo ? If we are tieing adjacent fields into the Ororo hub what is the possibility of the 4th partner being the one who is providing the fields to be tied in ie Chevron ? | 1alfi | |
09/4/2017 18:11 | Sherl10ck... being an ONDO State Partner and in bed with Owena Oil and Gas.. I just wondered if it was possible to close down the potential finance options.....to be honest, baring in mind the latest craze with indigenous involvement...and that the company said that they were talking to a couple of mid African entities, the only name I can come up with, baring in mind his past and current relationship.. is Dangote himself. | htrocka2 | |
09/4/2017 14:36 | HT - when you say sorting out 4th element, what specific info are you looking for? Good link to survey info: BH - I preferred the 5th horse. | sherl0ck | |
09/4/2017 14:16 | I fancy a punt in the masters a bit later. Going to take on the first 4 in the market. Any views? | bumhammer | |
09/4/2017 10:29 | Jenny, correct Punch through is the most worrying consequence of poor preparation and is , given the fluid nature of the sea bed, the reason that any survey has a very limited time validity, a week or three, not a month or two. All fits with an imminent rig movement IMHO. H1 drill window is ever closing day by day | drrichard | |
09/4/2017 09:39 | Thanks for the input Jenny, the prompting by Sherlock made me do a bit more research....conseque | htrocka2 | |
09/4/2017 09:33 | Regarding the seabed survey, We've heard of the requirement for the seabed survey being conducted shortly before (immediately perhaps?) 'spudding' - as opposed to 6-12 months beforehand (see Sherlock's post above). Now, this could only be an important requirement if the 'state' of the seabed is dynamic (ever-changing). Therefore, one might wonder what the potential detrimental consequences are, of the seabed shifting, once drilling/extraction has begun. | jenny tulwought | |
09/4/2017 09:33 | Sherl10ck... my glass is still 'half full' and go along with you on this one....however, patients is wearing thin. ...and is part of the certification required by the drilling permit. 'Divers inspection of seabed on location not earlier than one week prior to jacking up operation. Final report of above surveys, should be made at least fourteen days prior to the rig going on location in order to obtain a certificate of approval.' O/T The Crown Estates version | htrocka2 | |
09/4/2017 07:25 | We gonna be skint forever with this firm. Got less money that whats in a tramps vest | xerot | |
09/4/2017 07:13 | Anybody any thoughts regarding what the role of the 4th partner of the vendor finance consortium will be ? | 1alfi | |
09/4/2017 06:41 | Simply put, you always conduct a seabed survey prior to jack up rig positioning. This is ideally done closer to the time of actual positioning rather than 6-12 months+ prior. There's a whole host of things that need to be carefully checked - shallow gas accumulation hazards, debris, cables and particularly any mud/sand anomalies since the spud cans (feet of the legs) normally sink into the sea bed for stability and any punch through due to a false bottom can cause significant permanent damage to the rig. It's simply good standard industry practise. | sherl0ck | |
09/4/2017 00:25 | ht - they are not drilling in the same location as Chevron and even if they were wouldn't it be wise to get an updated survey prior to risking positioning a multi million dollar rig. | 1alfi | |
08/4/2017 22:58 | 'So why would we require any funding if we have secured the services of COSL, Add Energy and Schlumberger ?' The RNS's fail to inspire 100% confidence and are still ambiguous... I'll highlight the bit's that concern me.. Under the terms of the Well Management Contract, Add Energy will provide its well management solutions services to Sirius and as... P A R T... of the agreement will extend delayed invoice and payment terms to Sirius in line with the Company's other project partners. The contract... E N V I S A G E S... a drilling programme on the Ororo Field and can be expanded to include other potential offshore assets. The delayed invoicing is only 'part' of the story...hence assumes cash (that they've not acknowledged as having yet) is also part of the deal... 'Envisage' a drilling programme on Ororo.....I've been doing that for the past six years.... ever since I bought my first batch of shares at 4p. 'Envisage' definition.... 'contemplate or conceive of as a possibility or a desirable future event' Makes me wonder if the Sea Bed Survey is merely a stalling tactic. Let's be honest here.. Gulf/Chevron must have already done some form of survey over the area before deciding to drill Ororo1 at its present location...and now we're being lead to believe that Polaris can improve on Chevrons data? | htrocka2 | |
08/4/2017 21:28 | Makes sense if we have a deferred payment agreement regarding a purchase of OML95. So why would we require any funding if we have secured the services of COSL, Add Energy and Schlumberger ? | 1alfi | |
08/4/2017 19:56 | May 2015 rns. For complete nonsense this one takes some beating. ".....have agreed to consider alternative funding structures for the Ororo Field. These include Nima providing funding to Sirius Ororo (“OML 95”) Limited, a wholly owned subsidiary of Sirius (“Sirius Ororo Ltd.”) which directly owns OML 95, or obtaining funding at the project level." (“Sirius Ororo Ltd.”) which directly owns OML 95. Office junior strikes again. | dr rosso | |
08/4/2017 13:28 | No wonder the SP's in the doldrums....There must be sharper people than us looking over some of these deals and scratching their heads. 30/09/2013 'Sirius Exploration Nigeria Limited', a wholly owned subsidiary company, has entered into an agreement with Guarantee Petroleum Company Limited and Owena Oil and Gas Limited which gives it the right to acquire a 40% interest in the Ororo Oil Field.' 29/09/2016... During the year ended 31 December 2011 'Sirius Ororo OML95 Limited' entered into an agreement with Guarantee Petroleum Company Limited and Owena Oil and Gas Limited which gives it the right to acquire a 40% interest in the Ororo Oil Field | htrocka2 | |
08/4/2017 13:04 | Dec 14 Results "The Ororo Field (OML 95) remains a highly attractive initial development asset for the Company. Within the identified structures, there is a large amount of potential upside from deeper structures which the Company is very keen to exploit." Just don't tell anybody what it is, eh? | dr rosso | |
08/4/2017 12:21 | ...and the big one being 'Sirius Exploration Nigeria Limited'.. | htrocka2 | |
08/4/2017 09:52 | Some big numbers there. Subsidiaries and investments... The Company owns 100 per cent. of the share capital of Sirius Oil & Gas Limited (formerly Event Data Correlation Limited), a company incorporated in England and Wales with number 04886636 on 3 September 2003. Sirius Oil & Gas Limited owns 50 per cent. of the share capital of Sirius Taglient Petro Limited, a company incorporated in Nigeria with number 770190 on 1 September 2008. The Company has the right to acquire the remaining shares in Sirius Taglient Petro Limited, which are held on trust for it, for £10 and has management and operating control of that company. Sirius Taglient Petro Limited is a trading company in the oil and gas sector. The Company owns 99.99 per cent. of the share capital of SRS Petroleum Nigeria Limited, a company incorporated in Nigeria. The Company was incorporated with an authorised share capital of £10,000,000 divided into 4,000,000,000 ordinary shares of 0.25p each. Add Sirius Ororo OML95 Ltd and Sirius 2012 Ltd to the list of subsidiaries. Whatever work has taken place through subs ($3m Ororo, $3m Taglient as at Dec 2015), it has been completely hidden from the market. Did the Co. know, back in 2011, that 4bn shares would find themselves in issue? | dr rosso |
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