Sirius Petroleum Share Discussion Threads

[pipelinepete] 24/4/2017 14:47

1.05-1.15 end?

[1sonic] 24/4/2017 14:28

xerot??? you were saying?

[handygandhi] 24/4/2017 12:42

OPL 2012 location.

[pipelinepete] 24/4/2017 12:38

Good for the buyers and accumulators Sellers have tried 4 times in two weeks to drive it down, keeps going wrong for them.Hoover Hoover - it won't stop for a while

[sherl0ck] 24/4/2017 12:37

"24 such fields were awarded in 2003, to 31 Nigerian independents. Four more have since been granted, outside the process of a bid round, since then."

Need to be careful not to jump to incorrect assumptions. I've just spent 5 mins looking at this and already found two marginals awarded outside of the 2003 bid round, including Okwok (OML 67 - Mobil/NNPC), which the government agreed Oriental could farm into in May 2006 as compensation for losing 20% of OML 115 as a result of a maritime boundary treaty between Nigeria & Equatorial Guinea.

[htrocka2] 24/4/2017 12:34

Although this has been said before, however... just to push the boat out for the 'neewbees'.


I hold the Annual Reports for SRSP since 2011. Late in 2013, 'Blacksandspacific' relinquished their rights to 'OPL 2012'. Curiously and coincidentally, shortly after wards Sirius forms a new subsidiary, namely 'Sirius 2012 Limited'. This subsidiary first comes to light in the 2014 Annual Report.(makes me wonder if 'Blacksands' jumped or were pushed?)

[kcowe] 24/4/2017 12:32

People are like sheep .... one sells .. panic ... all the sheep sell , strange behaviour of the herd.

[bumhammer] 24/4/2017 12:32

xerot, go melt in aventadors hand

[xerot] 24/4/2017 12:29

1sonic your an absolute melt.

[1sonic] 24/4/2017 12:10

its about to up again!

[dr rosso] 24/4/2017 11:54

" Four more have since been granted, outside the process of a bid round, since then."



And here they are :-

Dr Rosso - 19 Apr 2017 - 11:15:01 - 63803 of 6395

Azama/Ruta (Ondo) OML 95 56.6mmboe (2P)
Meta Offshore (Ondo) OML 95 35.6mmboe
Oloye Offshore (Ondo) OML 95 76.7mmboe
Shango Offshore (Ondo) OML 95 26.7mmboe

70% of the above 200m barrels is gas. Add 20mmb Ororo field, and there you have it. A 220mmboe Ororo/95 Project.

[htrocka2] 24/4/2017 11:45

This was posted three weeks ago, 31st of March...(should be interesting)



'Kachikwu explained.....He also disclosed that the Federal Government would unveil blueprint for the development of Niger Delta in four weeks.' (some time this week then)

[astralvision] 24/4/2017 11:23

can sell 1m no problems, only buy 250K at touch at the moment

[htrocka2] 24/4/2017 11:20

Apparently the proposed up and coming Margin Bid round, that SRSP have acknowledged an interest in is dependant on the passing of the PIB, however, an interesting remark was made be the Minister of Petroleum.....that four fields have already been granted 'out side the process'. Could these four be the fields in Ororo?,,,hence the attraction and contracting of the 'big boys'.


'Four more have since been granted, outside the process of a bid round, since then...'





31/March/2011

'... the Board has decided to concentrate on larger marginal fields which are typically owned by significant market participants and multinational companies....'

[bumhammer] 24/4/2017 11:18

Clown Pocket?

www.urbandictionary.com/define.php?term=Clowns%20Pocket

[pipelinepete] 24/4/2017 11:13

Clown pockets bum

[bumhammer] 24/4/2017 10:13

Pipeline, how can you tell when not much about?

[pipelinepete] 24/4/2017 10:04

Not much stock around again, looking like another rise today :)

[sherl0ck] 24/4/2017 09:45

HT - at the very least (and certainly not to be underestimated), the passage of the PIB will help further smooth and justify the arrival, interest and innovative approach of the key consortium partners; who themselves to some degree may also have to consider an element of accounting to the market, their shareholders, industry analysts etc exactly why they've jumped into bed with a tiny outfit in what is perceived as a risky part of the world. PIB passage and the associated message of further opening doors to the global investment community would be absolutely perfect timing for us & our chain of partners to suddenly be seen to be springing into gear in a major way.

[drrichard] 24/4/2017 09:38

Yep, Ht. Over the last months our BoD have demonstrated that 1. they can close deals with very large companies indeed and 2. they don't spend money or sign things before they need to. With the PIB on the cards and the H1 target closing in one would imagine that the time to start spending is very close-hence we await news of our final partner.

excellent post Ed, as usual.

[htrocka2] 24/4/2017 09:18

The BOD have commented a few times in the past with regards to tomorrows anticipated outcome....therefore must be relevant to their strategy going forward.

[edgein] 24/4/2017 09:02

yes the setup here is pretty unique, a small company with a vendor finance with multi nationals. I've been an oil and gas investor for around 25 years and not seen similar to this. I guess its down to lack of funds investing in the sector at the moment, so a bit of a coup for these guys to sign up these 4 huge partners for the upcoming drilling. In some ways its similar to a free carry by the majors as they also gain their cash back from production, however what makes this set up more unique at present is the lack of equity interest by the other participants (which makes sense wells services and drilling contractors don't want to be producers). If the company lines up more developments its a win win for all sides anyway. Nigerians get their stranded fields developed, consortium gets cash flow from first production. SRSP gets to target prospects below some of these fields at minimal risk/cost due to developing Ororo etc. I could see more of these types of developments taking off in the future to adapt to the current O&G situation. The UK gov should do something similar to get the little guys in action and more production to sustain the current North Sea infrastructure.

Regards,
Ed.

[dr rosso] 24/4/2017 08:59

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Holder Shares sold Shares held
Credit Suisse AG -15.88m / -54.90% 13.05m
Citigroup Global Markets Ltd. -7.79m / -100.00% 0.00
Winterflood Securities Ltd. (Market-Maker) -6.96m / -56.98% 5.26m
Commerz Real Investmentgesellschaft mbH -3.85m / -100.00% 0.00
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