Sirius Petroleum Share Discussion Threads

[xerot] 10/5/2017 09:38

Bumhammer is right too, plant pot rubbish.

It seems the steady rise here indicates we are moving in the right direction.

[pipelinepete] 10/5/2017 09:32

Looking good campers :) A quick flurry of backed up rnss and shut those doors.:)

[solarno lopez] 10/5/2017 08:59

Good piece Sherlock

[sherl0ck] 10/5/2017 08:51

Bron - Just to clarify, I'm not saying that the PIGB isn't or can't be the sole thing we're waiting on - it MIGHT be - and there's certainly no denying it's importance. But my point is rather that there are also other valid explanations worth considering.

Firstly, I balance the importance of the PIGB against the following which have all occurred in its absence: a) our other consortium partners signed definitive agreements rather than MOUs that are dependent on the PIGB b) we committed significant expenditure on long lead items/deposits c) we've now conducted a survey that has to be done close to spudding d) 'cement man' continues to invest $billions into refineries & pipelines e) large O&G M&A deals have still taken place f) foreign investment has been committed g) some indigenous E&Ps have forged ahead and expanded their oil and gas production in recent years - Aiteo, Oando etc...

Now I suppose the Sirius-related elements could have been undertaken on the premise that the PIGB will be passed in H1, but knowing the previous challenges over many years, that's still quite a risk to take even if Fed gov't stakeholders had expressed confidence.

Secondly, you may be correct on your points below but I've added some alternate thoughts & possibilities:

- "why open-ended on spudding?" I think we all agree that if this was really just about Ororo then it would likely have been drilled already. Stating H1 back in mid-Nov last year gave us quite a bit of leeway to sort out a whole load of other contingent stuff beforehand. At AGM the BoD talked about completing CPRs on each potential pipeline asset, generating interest with IIs and how their approach is innovative.

If we look at all the other things we've subsequently organised & agreed since Nov 16 then the complexity and challenge is clear. I also sense that rather than continuously missing targets, we now want to be sure of delivering. Hence Bobo sounded very resolute on his last podcast "operations on this field WILL commence in H1 this year" - as opposed to "we hope to / our plan is to try and..."

- "we're still stalling." Whilst it looks like this, the reality might be very different. What I think we're trying to do overall is very complex to organise and takes time. A multi-party consortium, including large partners spread across different time zones and plans that may entail significant funding, exacerbates the time taken to draft and agree everything. We all recognise that the construction of a consortium also shows this is far bigger than just Ororo. Red or black insinuated that whilst the O-2 drill may look like the first piece, it could be the last. An interesting observation that I retain an open mind on. Regardless, most would agree that our growth could be pretty exponential following drilling....and that growth will have been planned for some time.

- "Polaris early April" It appears that this survey was actually only initiated and completed much more recently. I've no idea why it apparently took longer to commence than anticipated.

- "delay announcing fourth partner" Why assume it's been delayed? The company stated last Dec: "intends to announce further details in DUE COURSE" implying other things have to happen first....and we've maybe seen some of these already with more recent news releases. I suggested earlier this year that we shouldn't imagine this unveiling will be quite as imminent as some were hoping and I suspect there are other critical things yet to happen prior to this announcement.

It appears that you imagine 'cement man' is this hidden partner. It's possible, albeit it's not a view I personally share at the moment (but I'd still be absolutely delighted to be completely wrong on this!). If it is true however, it perhaps lessens the critical nature of the PIGB seeing as he's forging ahead with so many other things that are vastly more costly than our project.

[solarno lopez] 10/5/2017 08:44

Thanks 1 Sonic and you were correct the link did not work or was it my IT skills !!

[mr roper] 10/5/2017 08:40

aaaaaaaaaaaarrrbblluueeeghhhhhhhhsssstttaaarrtttttttghhhhhhhh

[bumhammer] 10/5/2017 08:40

it means his keyboard is bust or very dyslexic

[aventador] 10/5/2017 08:39

When Mr roper says arrrrrrgggghhhh it means one thing ... insanity or a blue start :)

[mr roper] 10/5/2017 08:27

aaaaaaaaaarrrrgggghhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

[alongfortheride] 10/5/2017 08:27

Interesting read ..

hxxp://gravystock.website/sirius-serious-sirius-petroleum/

INSTRUCTIONS for those that don't know how the internet works ... ;-)

Change hxxp: to http:

[6cer] 10/5/2017 08:17

Jenny Toolwart - the definitive brain donor.

[bumhammer] 10/5/2017 08:09

Keep your plant pot nonsense off here please

[dewiparry79] 10/5/2017 08:05

Me, the wife and dolly the sheep!

[jenny tulwought] 10/5/2017 07:58

Radio 5-Live have just interviewed someone from Anglesey -
- referred to as a three-way marginal...

a) What is a three-way marginal?
b) Do you need to be a member?
c) Can I join?
d) Why not?
e) What are you wearing?
f) Can you guess what I'm wearing?

[bumhammer] 10/5/2017 07:41

Let's break the 1.10 area today :)

[bronislav] 09/5/2017 22:13

Cheers sherlock..some good posters on this thread and I am sure they would be grateful also.

[sherl0ck] 09/5/2017 22:01

Bron - busy tonight but will put a few pointers together when I get a chance tomorrow.

[bronislav] 09/5/2017 20:46

Other explanations sherlock.Be good if you could share them.

[bronislav] 09/5/2017 20:46

Other explanations sherlock.Be good if you could share them.

[sherl0ck] 09/5/2017 18:53

Bron/1alfi - PIGB may be important to us but there are also other explanations that I feel adequately answer all of the points/questions raised. Whilst it currently looks good that this will be passed this month, it's not nailed on and yet I feel we'll still advance regardless.

[doug51] 09/5/2017 17:32

We are slowly slowly catching the moneykey.Just a waiting game now?

[1alfi] 09/5/2017 17:06

Get the PIB out the way, followed by a placing and spudding of well, then I would hope that we would be in a strong enough position to generate some ongoing share price growth, with significant increase on completion of the well.

[bronislav] 09/5/2017 16:06

Alfi..why else would sirius be so open ended about spudding of a well.Sirius have a team ,second to none in the consortium.They could drill this well with their eyes closed and yet we are still stalling...Polaris early april and two weeks to complete one week into may and not a peep.Other companys have drilled in nigeria so I conclude something in that pib is significant enough to not only delay sirius and consortium drilling but also delays announcing the fourth partner who we surmise is our cement man.

[1alfi] 09/5/2017 15:17

'He noted, “The existing legal and regulatory framework, written primarily for oil does not provide robust technical and commercial framework for gas.

There is therefore the need to pass the PIB into law, which will underpin the ongoing sector reforms. The gas sector policies will provide Nigeria with the opportunity to harness and get maximum value from its stranded gas resources”. '

Bron - I agree with you regarding the PIB and it's influence on the progress of Sirius's gas play.