Sirius Petroleum Share Discussion Threads

[cornishtrader1000] 03/5/2017 19:13

Apologies, I stand corrected.

[bronislav] 03/5/2017 19:09

Cornish.Ive been saying for a while that I thought the PIB was pivotal.If we are involved with more stuff on oml95 then chevron who are partnered with the nigerian national petroleum company,will have to redefine that partnership as the PIB will be changing the nnpc and it looks like gas and crude will be two seperate entities under the new legislation...After all this time and delays with the PIB much needed investment in nigeria has been held up but the finish line is in sight.Every where in the nigerian press the importanceof the PIB is being emphasised so to my mind the importance is clear and our time frames seems to be running in parallel with the Pib.logic suggests that sirius heve been assured that the PIB will be passed inH1 and we seem to have adopted the same timeframe.

[cornishtrader1000] 03/5/2017 18:27

Have you changed your outlook in the ever changing picture Bron?I thought your view was the PIB wasn't the key here, just curious if you've changed you thoughts, what was behind this.

[deadly nightshade] 03/5/2017 17:40

good post bron, i agree about pib, may have to wait at least another couple of weeks before we get any news here. you get the feeling this is going to the wire. keeping my fingers and everything else crossed

[solarno lopez] 03/5/2017 17:37

Thanks Jenny

[htrocka2] 03/5/2017 17:34

'Yep rig please.'

All in good time...but first...

Vendor Finance Consortium
The Company intends to announce further details regarding the final elements of the financing and operational service agreements, including the Joint Operating Agreement ("JOA"), to support its proposed drilling programme for Ororo.

[bronislav] 03/5/2017 17:25

Ororo..left right till the very end...
This chevron well has been analysed on numerous occasion.s .gafney ,rockflow schlumberger,Xodus.ACES,
field development plans,Havoc and tonye wokomo.
Top oil and gas consultant graham lyon and top financial number cruncher simon hawkins.
BtG and glencore involved to some degree at one stage .
Now we have the consortium members ready and waiting to take this forward.
Numerous attempts to raise funds to drill a well on ororo and still taking it right to the wire.

All this on the back of bobo jack and chris..
No doubts the board have done there job and will be paid when its completed,(then what for the board)
Logic suggests that so much more has been goung on other than ororo ,whilst focusing on ororo has deflected any real serios thoughts about other assets.
Ororo brings it all together and whether its a spud or first hydrocarbons the final conclusion has to be far more than reaching production
Leaving the fourth partner until last suggests to me transfer of ownership or maybe the real owners stepping from the shadows.
Not long to wait but I think the PIB is pivotal in the firing of the starting pistol. .

[oilbuy] 03/5/2017 15:32

Yep rig please.

[dr rosso] 03/5/2017 15:28

Wasn't the ref to a keystone? The final piece in eg a bridge, without which there is no bridge. There have been times in this long drawn-out saga that one could be forgiven for thinking Keystone Cops might have been more pertinent. Hats off now to our BoD if they've finally pulled this venture off. Rig availability was mentioned in an rns 5 years ago, leading us to expect oil production by Sept 2012. So, bring on the rig ...

[6cer] 03/5/2017 14:38

Jenny Toolwart is a trani.

[oilbuy] 03/5/2017 14:19

Added another mil. Hasn't popped up yet

[cornishtrader1000] 03/5/2017 14:19

Didn't someone say Ororo was in fact the last piece not as assumed the first piece of the jigsaw. Can't remember if it was Bronislav or Black and Red (or Red and Black). Let's get the survey out in the open then we can get the rig named and spud date announced. Surely that should make 2p per share with a fair wind behind it.

[htrocka2] 03/5/2017 14:15

DR....indeed.. (they've got deals coming out of the ears...)


"to put both the Ororo Field and the Oil Block into production, as soon as is practicable....'


'The bulk of the Field is located within a neighbouring oil block,...'


The Field
Under the terms of the pre-farm-in agreement, Sirius will have a 20 per cent. economic interest in the Block’s as-yet-undetermined share of the Field. The Company will have the right, exercisable at its discretion at any time, to purchase the remaining 80 per cent. interest in the Block’s share of the Field at a commercially agreeable rate to be determined according to precedent transactions, depending on the outcome of the unitisation results. l The bulk of the Field is located within a neighbouring oil block, approximately 30-40 km offshore in water depth ranging from 55m to 70m. l It has been in production for over 20 years, with an average daily production of 10,000 barrels of oil per day (“bopd”) and a cumulative production of circa 100 million barrels (“mmbbls”;). l Unitisation will entitle Sirius to an equity share of future production from the Field and a letter confirming the requirement for unitisation of the Field has been received by the Operator from the Department of Petroleum Resources.

[bumhammer] 03/5/2017 14:08

The only thing I get is you're an unfunny buffoon.

[solarno lopez] 03/5/2017 13:58

I'm at a loss here Jenny as you sign in as Jenny Tulwought but refer in your posting above as being male.

Am I missing something or are you ( now that's a deep one )

[jenny tulwought] 03/5/2017 13:50

I was offered intimate liaisons, by a 21 year old girl hanging around the front of the Plymouth Pavillions just now.
In return, I was supposed to advertise some sort of bathroom cleaner - wtf??

Naturally, being a gent of some considerable moral fibre, I declined - because, as an upstanding member of the communitee, I'm a person of high moral integrity, with standards and strong will power - almost as strong as Ajax, the super powerful bathroom cleaner - which kills 98% of germs - now available in scented lemon, pine and introducing new vanilla-strawberry blush.

[dr rosso] 03/5/2017 13:15

GP site refers to vertical integration, so looks like Sirius Taglient subsidiary will be wholly snapped up by SRSP and rolled out to handle the gas, prob the heavy hcs rather than cng, in a midstream op.

[dr rosso] 03/5/2017 13:11

Block transfers being crept over in batches by one entity to another. Sp has to remain stable when the shifts occur.


HT.. "to put both the Ororo Field and the Oil Block into production, as soon as is practicable"
Confirmation here that the field is indeed strategically linked to the block. The string of marginals which form the long talked about pipeline of assets will be worked together. Tax efficiency $10pb saving dictates they all start to flow at pretty much the same time, which is why Ororo production must be "delayed" in order to fit the wider schedule. No point in commencing the 5-year PPT exemption for this Project on 5k boepd when you can optimise with a 30k-40k kick off from the multiple marginal field assets in Block 95 that have been readied to go.
Sort 95, then on to adjacent 241.

[bumhammer] 03/5/2017 12:58

It certainly raises questions that's for sure Bron

[bronislav] 03/5/2017 12:53

For every seller there is a buyer.These unknown large trades and suddenly lots of what appear to be sells are in my view connected.So to me its the same as always ,transferance of shares of some form...With the significant companies behind sirius ie schlum and cosl and according to our chairman "on track for a drill at least "it just doesnt stack up that suddenly we lots of sells..transfer of shares and within a specific price range.

[htrocka2] 03/5/2017 12:52

A quick comment...Had the two x 1m OK trades been registered at the time referred to, they would have marked up 'buys', however, they waited for the offer to increase thereby reducing the price to below the new mid price and then being marked as a 'sell'...conclusion, they're still trying to keep a lid on this.....and induce more selling.

[htrocka2] 03/5/2017 11:36

A reply to DR's post...

'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?'

It's not so much a case of what's next but more a case of where to start next after Ororo.


'Following completion of the FDPs, which will establish the optimum development strategy, and subject to the successful conclusion of its funding initiatives, the Company intends to execute the farm-in agreement for the Oil Block, following which the Company will work with its partners, to put both the Ororo Field and the Oil Block into production, as soon as is practicable.''





(note the reference to 'the Company will work with it's partners to put both...'...' implies that the Owena/Guarantee P/Sirius partnership is to be continued into new projects....which tends to throw a spanner into the imminent sell off theory)