Sirius Petroleum Share Discussion Threads

[sherl0ck] 03/5/2017 11:10

JT - when I align the RNS info with what's going on (particularly demand, supply and the creation of value chains) in Nigeria/West Africa & the wider O&G world then certain interesting themes do appear to jump out a bit, so yes I have a few ideas in mind as to the possibilities here and each RNS & podcast reaffirms to me that we're on track. Whatever our chosen plan ahead, the key underlying element is 'scale'. So at the moment I'm ignoring the many sells we're witnessing and purely focusing on a belief that our mcap is still very far below where it will be. As such I remain an accumulator and I'm utterly convinced that buying as & when I can and being patient is exactly the right strategy. AIMHO.

[cornishtrader1000] 03/5/2017 11:05

Less of the 'Thumbs Up' or BumHammer will get all excited.

[dr rosso] 03/5/2017 10:33

Looks like Sherl0ck has managed to join the dots. H1 spud in mid-June. End-July for Add's Gustavus Arguello to step in and complete the well ready for production. Rig will be swiftly moved on to O3, then O4. Hook up to take the gas from the outlying fields in 95.
But still no sign of JOA/PSC. Who's going to be the producer-operator? Ororo/95 Project about to be taken off Sirius hands? The big Q after drilling commencement is ... what's nex?

[jenny tulwought] 03/5/2017 10:06

Sherl0ck,

It occurs to me that you've been in a frivolous mood of late.
This is most refreshing - and get's a Royal 'thumbs-up' from me (as it were).

[bronislav] 03/5/2017 09:42

Nice bit of ramping sherlock lol..

[sherl0ck] 03/5/2017 09:10

BoD - please do not release any more news until Friday as I've planned an additional cheeky top-up tomorrow when further funds hit my account. Many thanks x

[edgein] 03/5/2017 08:43

Oilbuy,

Thanks for clarifying that, I suspected that you might be referring to the pipeline of projects lined up once Ororo is in production that Bobo hinted at.

Regards,
Ed.

[1sonic] 03/5/2017 03:10

Good post HT

[htrocka2] 02/5/2017 22:20

A small extract from 'Marginal Field Licence' application states that in the case of two or more sharing a field a JOA is mandatory and must be in place by joint partners prior to drilling...


in our case it's......(an srsp rns extract)

'.....each of the Parties rights and economic interests under the FTSA, which comprises Sirius' 40% interest, Guarantee Petroleum's 32% interest, and Owena Oil and Gas' 28% interest.'
(both parties are giving up about 40% each of their respective holdings to srsp)

Confirmation by SRSP of this JOA will set this well and truly alight.

[1sonic] 02/5/2017 21:02

Boooooooooom6cerooooooaventadorooooooooom! All going to plan!

[1sonic] 02/5/2017 20:35

If you invested a year ago in SRSP you would be 281% up..... Now some of us got our share at the 0.025 level, some of my friends got in at 0.018 so work that out! The brave have made! Name a Ft100 that gave you that return in the last year? Boom!!!! More to come!!!!!! Lol

[oilbuy] 02/5/2017 19:12

Hi EdIm refering to seperate marginal fields. Just need to get 95 drilled and then we are open to offers.

[edgein] 02/5/2017 15:26

Oilbuy,

When you refer to big field, do you mean the fact that there haven't been any limits found to Ororo as yet, no OWC, no GWC, no defined field boundary. Or are you referring to the deeper target if that contains more stacked reservoirs or are you thinking of one of the pipeline assets? Just curious.

Its certainly one of the lowest risk, highest upside O&G companies at the moment. No disputing this Chevron discovery at Ororo, 200ft of pay, lots of untested potential + deeper potentially large target beneath the field. I'll see it as a good start when we complete the other side of the bowl at 3.5p.

Regards,
Ed.

[dr rosso] 02/5/2017 14:55

15 September 2014

Sirius Petroleum (SRSP:LN) is pleased to announce that it has entered into an Agreement with BTG Pactual Commodites (UK) LLP ("BTG Pactual") relating to the marketing of crude oil from the Ororo Field and other marketable product from other fields owned by Sirius Petroleum (the "Marketing Agreement").

Under the terms of the Marketing Agreement, BTG Pactual has the exclusive right to market all Crude Oil from the Ororo Field, for an initial period of twelve months from the date that Sirius first makes any Crude Oil available to be marketed, and thereafter on a rolling twelve month basis unless otherwise terminated. BTG Pactual is hereby appointed Sirius' exclusive representative to perform all necessary marketing, negotiation, sales and contract execution in relation to the sale of its 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.

Sirius has entered the Marketing Agreement with BTG Pactual to ensure that Sirius has a marketer for its petroleum products and to provide Sirius with the flexibility to conclude funding arrangements with third parties.

Commenting, Bobo Kuti, Chief Executive, said:
"We look forward to working with BTG Pactual to market Sirius' crude oil and working with them to market that of other Nigerian producers."

[dr rosso] 02/5/2017 14:51

Look beyond Ororo field.



3 December 2013
This Day (Lagos)
Nigeria: Chevron, Agip to Contribute 14 Fields to Marginal Bid Round.

Chevron Nigeria Limited- a subsidiary of United States oil giant, Chevron Corporation- will contribute 12 fields to the Department of Petroleum Resources (DPR) as part of the 31 marginal fields that would be offered to Nigerian independent companies by the Federal Government.

The Nigerian Agip Oil Company (NAOC), a subsidiary of Italian oil company, ENI will also relinquish two marginal oil fields for the marginal fields bid round. With proven reserves of about 10million barrels, marginal fields are considered uneconomical by the international oil companies (IOCs), hence the decision of the federal government to award the acreages to Nigerian companies. Some of the marginal fields to be relinquished by Chevron to the Nigerian independents include Olure, Bime, and Omofejo in Oil Mining Lease (OML) 49. Other marginal fields, according to Africa Oil + Gas Report, include Shango, Meta, Azama, Ruta and Oloye in shallow water OML 95.

[xerot] 02/5/2017 14:49

Im hoping for more than 10p that is peanuts with all the assets we have.

50p is more like it i think. Anything else is failure.

[drrichard] 02/5/2017 13:58

Floats my boat Oilbuy

[oilbuy] 02/5/2017 13:50

Thats a long term target. 3 successful wells and the big field. 250M cap with no dilution.

[cornishtrader1000] 02/5/2017 13:45

Did i read on twitter you're hoping for 10p Oilbuy?

[oilbuy] 02/5/2017 13:27

That's my 750k top up

[cornishtrader1000] 02/5/2017 11:58

Good on you putting 'your' money were your mouth is Jenny.