Sirius Petroleum Share Discussion Threads

[pipelinepete] 16/5/2017 13:13

Only when in production and with booked 2P would these be a target to a bigger fish.

I had respect for your posts ed but this is poor.

Funding and fdp releases 2p reserves. Production isn't essentially key to anything. Proven discoveries across multiple oil blocs and marginal fields alongside a project development plan and funding partners would turn the whole thing on its head and has always been the case from day 1.

..someone said during the agm the board said they would use the suspension to tie up the other assets and release multiple cprs and whole development plan backed up with finance partners ready for the admission document. Fantasy I suppose.

Regards

Pete

[edgein] 16/5/2017 13:05

Bum,

He's not the only one that likes to base things around facts though. From what I've seen over the years the only take overs or mergers were all based on 2P and production. Something that SRSP will soon have from Ororo, fingers crossed, and several wells later. What we've heard is that they've a pipeline of assets lined up and these are going to be development rather than exploration. That makes sense, lots of undeveloped marginal fields in Nigeria, its where Afren, Eland and Lekoil all sprang from. Its quite possible, even though very early stages, that with a couple of these marginal field developments it could be the next Afren. Afren was capped at one stage over £1bn and it didn't have much more than these offshore remnants from the majors.

Yes SRSP stands above others currently as a small cap with vendor financing from significant financial muscle. But most large companies don't need vendor financing as they're funded through their own production. What SRSP has is very impressive for a small cap, its got multi bag potential and mid cap potential from its current model. Would any of these marginal fields be of interest to the majors, would a vendor financing be of interest to a large producer? Unlikely. The only small cap that I remember that did a farmout with BP was SQZ in Namibia as its expo targets were between 200mmbbls and 1bn bbls. There aren't any relinquished fields on that scale in Nigeria.

Could Ororo and others be of meaningful size to SRSP, of course its only been partly tested in the discovery well. There's also potential for further stacked reservoirs below Ororo. They could then rise and repeat this same formula over multiple fields, yes that's clearly been hinted at. Only when in production and with booked 2P would these be a target to a bigger fish, not a major, Chevron has seen their seismic that they took over Ororo and the logs from O-1, not big enough for them.

You could use EOG as a current example, some 5bn boe prospective on expo targets, some of them around 600mmbbls. Cap just £20m, no offers from majors as yet. Because its all about the 2P and production. Again Ororo has significant potential as it stands and there's lots of stranded marginal fields that bobo could get his hands on. But its best to deal in reality rather than fantasy.

Regards,
Ed.

[bumhammer] 16/5/2017 12:19

Aventador - For someone who is desperate to see a return here, you do seem very dismissive once 15p and take over is mentioned. You'd normally chug your nuts off at the mere suggestion of that..QFC unsuccessfully trying to teach you how to double bluff? ;)

[kwizza] 16/5/2017 12:04

Think they were sorting the regulatory side first then deal with other bits later

[aventador] 16/5/2017 12:02

As said though official line is drilling still as far as we know on schedule people saying 15p take over are just making this stuff up no factual source of them statements whatsoever, expect 2p plus hopefully if they meet the drill targets and become cash generative this year.

[kwizza] 16/5/2017 11:33

Could some funding come from the new departments/companies being set up by Nigeeria as a country to help develop their assets for their people and as development progresses sell off their share to interested parties.

[sherl0ck] 16/5/2017 11:31

Thanks. Yes fully appreciative that many lth's haven't been able to top up and lower their averages so I hope that in some small way at least the positivity and research shared here by many enthusiasts has helped them to decide not to just throw in the towel completely, especially when the share price was a fraction of where it is today.

[1alfi] 16/5/2017 11:19

It is a good position to be in Sherl0ck, being able to grow your holding unlike others on here who have already committed all they can afford at much higher prices and are now struggling to survive until the end game or at least until the share price has significantly rerated. Good luck to you, I am sure you are deserving of all you gain.

[bumhammer] 16/5/2017 11:13

Thanks Sherl0ck, makes sense.

You must have a never ending stream of cash to keep topping up. Good on you though, wouldn't take much share price action to see you a wealthy man. He who dares and all that..

[sherl0ck] 16/5/2017 11:06

BH - I think we can all see both sides of the PIGB argument. On the one hand other big partners signed definitive agreements, other large O&G related projects are still underway and we should theoretically be able to drill Ororo independently due to deferred funding.

But we also know that our consortium isn't solely related to Ororo and may entail much more significant funding, in which case any as yet unsigned partner / major funders may be nervous without certain longer term fiscal assurances.

So admittedly I'm really on the fence on this one. I wouldn't be at all surprised if we were able to crack on regardless, yet I similarly wouldn't be surprised if it was a key missing piece of the jigsaw..... What I do know with absolute certainty is that the longer this continues to drag on, the larger my holding grows!

[twentysixpointtwo] 16/5/2017 11:06

No problem 👍

[htrocka2] 16/5/2017 11:03

Appologies 26.2

[twentysixpointtwo] 16/5/2017 11:00

Htrocka see post 64834 this morning regarding delayed Bill. I'm not here to deramp, just frustrated!

[htrocka2] 16/5/2017 10:47

nice one bumhammer, I bet they don't eat humble pie for breakfast..

ps June 8th.... it sounds as if some addendums to be added to the PIGB

[bronislav] 16/5/2017 10:46

June 8....will we have sirius news before then or kick the can down the road with a stalling choosing rig type rns.Any issue of new shares may also be on hold until pib is passed.

[bumhammer] 16/5/2017 10:42

How certain politicians have a glorified title of 'Right Honourable' here in the UK is disgusting.
Most are self-serving buffoons. No one trusts them and are looked upon in the same light as Estate agents, VAT officers, and Bailiffs. Vile individuals
Rant over

[htrocka2] 16/5/2017 10:40

rod99

Cheers rod. I missed that one. It seems we're not the only ones waiting for the PIGB outcome...





'On ways to attracting the much needed investment, he urged that all existing contracts before the bill should hold under existing terms and that the government speedily passes the PIB.'

[edgein] 16/5/2017 10:26

6cer,

Politicians are the same the whole world over, spend every day arguing with each other over very little. :) Just in African countries things happen that much slower than pretty much anywhere else.

Regards,
Ed.

[drrichard] 16/5/2017 10:24

6cer, I suspect vested interests and legacy issues for the main part.

[rod99] 16/5/2017 10:23

Ht see drrichard post at 8.44 this morning

[6cer] 16/5/2017 10:09

Why do Nigerians keep delaying/postponing important things ? Does progress frighten them?

[elliotset] 16/5/2017 10:08

Back to 1.2 1.25 at close

[htrocka2] 16/5/2017 09:54

Twenty six point two


'PIGB delayed yet again. Unbelievable. Let's hope this has little to do with our progress or we might as well shut up shop again for another month.'


No source then?.....I hope you got a good price with your buy this morning.

[bumhammer] 16/5/2017 09:49

Perfect, thank you Ed