Sirius Petroleum Share Discussion Threads

[1alfi] 28/4/2017 10:32

Would such a potentially vast operation be dependent on Sirius crawling cap in hand to Cornhill Capital for short term working capital ?

[dr rosso] 28/4/2017 10:19

Usual procedure. Let their dodgy mates in at 1p, then pump it up with the aid of a chosen-rig-is-on-its-way progress update. Pay off the ex-Ds. Rinse a new batch of pis by taking a few off the table at 1.3p. All rather predictable really. One day Rodders, might even see some oil, generate some revenue and stop crawling cap in hand to these Cornhill-type short-term working capital providers

[solarno lopez] 28/4/2017 07:49

that's not a challenging level

[eye2] 28/4/2017 07:46

Bonker 99 charts see 1.3 soon

[solarno lopez] 28/4/2017 07:40

1sonic
25 Apr '17 - 20:11 - 64020 of 64109 4 0

I won't be posting for a while! Something has put a smile on my face tonight! One final top up tomorrow! See you all on the other side. Do your research and you will find what I have. GLA.. xxxxx

....Hi 1sonic can you please elaborate on your posting as you have been posting like crazy ever since ..what have you if anything ?

[htrocka2] 28/4/2017 07:31

1sonic....

If you could choose,would you go down the SEPLAT route, ie, sell 45% of the company for $193m? (and that was in 2010)

[1sonic] 28/4/2017 00:19

Never known a company like this! All cloak and Dagger! i'm in and stuck in but believe all will pay off! Next AGM will be fun!!!!!!

[htrocka2] 27/4/2017 21:55

'..final part of Sirius task as procurer of financial and technical services. Job done, over and out...'

'The Board is confident that the Company is on course to successfully deliver the strategy to build a substantial portfolio of oil and gas assets'

Before we talk of a take over, I think the final task might be telling us shareholders exactly what it is they have to sell?

[aventador] 27/4/2017 21:50

More nonsense on here, just wait for the news and production later this year slow and steady no take overs complete guess work as always, just sit back and wait in a few weeks/months the bigger picture will unfold good times ahead finally lets hope :)

[bronislav] 27/4/2017 20:45

Sirius has never looked like a company interested in drilling a well ,it has always looked like a front for something else ,a front for a readying of assets.The PIB holds it all up because of the NNPC..Time will tell and with the changes to the NNPC likely to become a reality in circa three weeks we have not long to wait.Who brought Lyon and Hawkins in to do a job,job done now so not only has mr Hawkins gone but it's likely the oil and gas consultant gone also.in my view.

[deadly nightshade] 27/4/2017 20:30

Dr Rosso we all dream if only the end game could play out like that. it Just sounds to easy for it all to end in one big take out and we are all quids in everyones a winner sounds like a episode of only fools and horses. just be nice to see this seabed survey back and some news on when the rig will be on its way and get some momentum back in the share price

[dr rosso] 27/4/2017 20:14

Yep, NewCo to run the show. £600m takeout. Clear the accruals, clear out the existing BoD = final part of Sirius task as procurer of financial and technical services. Job done, over and out.
Brand new set-up, in all probability a subsidiary of a giant corporation with a $1bn LTF pocket, tech expertise from the current TAC, who'll work alongside Schlum ISPM, answerable to NewCo. SPV equity stakes split between NewCo, Schlum, Havoc and the Indigenous Ondo parties.
AIMO.

[bronislav] 27/4/2017 19:57

Whomever is behind Sirius is also behind the newco.im my view.

[dr rosso] 27/4/2017 19:54

Condensate is mainly composed of propane, butane, pentane and heavier hydrocarbon fractions.

Read the rnss and you'll realise the significance of the volume of these in Ororo + surrounding fields. These lucrative and substantial volume liquid hcs form the basis for the marine containerisation ship to shore operation, which is different from the pure gas which will be brought into Ororo then through to Parabe via the pipeline. At some point the raw cng has to be separated off from the heavy hcs, be it at the wellhead or on a special purpose marine vessel.

Gas condensate heavy hcs (associated wet gas) look to be a major part of the Ororo/95 operation.

[sherl0ck] 27/4/2017 19:43

Shez - the eyes are useless when the mind is blind.

[sherl0ck] 27/4/2017 19:43

Rosso - perhaps. I was just curious if anyone had actually asked the BoD directly and received an answer on this.

[dr rosso] 27/4/2017 19:32

A partial explanation for Sherl0ck. The problematic zones are D1, D2, D3 which remain a bit of a mystery until the O2 drill hits. These contain hydrocarbons which are a mix of gas and liquids. The oil column thickness is as yet unknown.

What appears to have happened is that Rockflow's recoverable gas figure of 92bcf (reduced from Schlum's 277bcf) has been partly countered by upping Schlum's high case est. 12.87 mmstb (oil) to a new high case liquid hc vol of 20.48 mmstb. Check the cpr and you'll see the addition of "condensate resources".

All it means is that D1-D3 are likely heavy in gas condensate, a low-density mix of liquid hydrocarbons. No owc, so brim full.

D4-5 are raw natural gas. G is oil.

[epe dokita] 27/4/2017 18:20

Very likable thinking Dr.Rosso

[dr rosso] 27/4/2017 18:14

1p placing for OldCo to clear the D accruals. Clean slate paves the way for NewCo to commence drilling ops.

[cornishtrader1000] 27/4/2017 18:05

Another day, another late trade. 17:07:55 1.00 2,350,000 23.50k

[shez20] 27/4/2017 16:25

The only thing reliable about this lot is that they will come calling for some more dollar very shortly! Now that is a certainty

[1alfi] 27/4/2017 16:15

CPR RNS 22/4/2016

"so the structure of the trap is only moderately imaged. This, together with the fact that only one well has been drilled in the Ororo Field and hydrocarbon contacts could not be defined, leads to significant uncertainty with regards in-place oil and gas volumes. These have been calculated probabilistically."

'Significant uncertainty' & 'calculated probabilistically'

Given the above, can we accept the cpr volumetrics as being reliable ?

[shez20] 27/4/2017 16:00

Sherlock put those special 3D glasses on you read the rnss with that you claim are over generous with info! Surely the answer must be in one of them