Sirius Petroleum Share Discussion Threads

[dr rosso] 19/7/2017 23:46

Doc Hol, the other disgrace. Conniving twitter fraudster bigging it up at 1.5p before selling out, then appears as Mr Gloomster back with some imaginary news but likely keen to buy back at 1p. His City mates tipped him off that Transocean was supplying the rig. Complete tosh, mind you Power hasn`t moved any closer. Is it even contracted?

[dr rosso] 19/7/2017 23:39

This lot need to come clean and give a field progress report. What subsea work has been done? What are the $4.6m worth of licences? How are the lease options shared with Owena? What further assets are being considered? What`s the current funding situation? When do they realistically expect drilling to start? Where does NNPC figure in this? Publish in full the 3 cprs.

Sherl0ck calls it a stealth operation. I call it a disgrace.

[carrbradshaw] 19/7/2017 23:22

Yes as I say astralvision, I'm worried.

[astralvision] 19/7/2017 22:28

What! Signed up Schlumberger, COSL, Add energy 'intends to make a further announcement on this project in the near future' re BP and you're worried! I'm worried I ain't really got enough of these beauties. If you're that worried, best sell and pass them onto someone else. imo.

[1sonic] 19/7/2017 22:24

If you've got money invested in this...Do your homework and you will be happier...For ones who buy and don't get under the skin of their investment are idiots! You may as well lick your finger and stick it in the air and hope which way the wind is blowing!

[1sonic] 19/7/2017 22:20

This better pay off for some folk! Pension age going up for those born after 1970.

[flyster] 19/7/2017 22:12

I would love to know some answers right now

[carrbradshaw] 19/7/2017 21:52

Am I the only one on here that's starting to get seriously worried - what is actually going on here?

[deadly nightshade] 19/7/2017 21:09

there is only one doc we listen too and thats doc rosso. i have got not time for a holiday

[pipelinepete] 19/7/2017 20:38

What the shyster is actually saying is'I've been selling all week and now I'm trying to buy, the free float is tiny and I've miss read the market, please sell so I don't have to drive the price up to 1.30'Suspension - gulp.

[htrocka2] 19/7/2017 20:36

any one care to dig up some history on this bloke?

[bennyfishery] 19/7/2017 20:29

Dr Rosso,

I'm also aware of this scoundrel, but I couldn't have described Doc Holiday any better than you did when you said :

"Those familiar with this well-known shyster crook will recognise his latest uttering as the biggest buy signal yet."

[dr rosso] 19/7/2017 20:28

Not only BP, but the extended refs to the new version of NNPC. Def pointer to FGN being represented by one of the newly created bodies. Poss that we could be kept waiting until the 2nd part of PIB is clarified and passed. NNPC has never got so much a mention before so it must be of some significance that it receives its own virtual chapter this time around in the final Results.


President Buhari's administration initiated many structural reforms within the Nigerian National Petroleum Corporation Ltd ("NNPC") and the Ministry of Petroleum Resources ("MPR) to provide clarity, transparency, and accountability within the Nigerian Oil & Gas Industry.

These reforms continue to support indigenous projects and the Company's partnership with the Ondo State government, through Owena Oil & Gas Limited which is owned 100% by the Ondo State government, provides valuable access to proven oil discoveries located within Ondo State.

Efficient monetisation of associated gas, which could replace flaring and help develop the country's power sector, is a key focus of the Federal Government. The managing director of the NNPC reiterated their commitment to increasing Nigeria's gas production which is in line with our strategy to commercialise the gas on the Ororo field and generate additional sources of revenue.

On 25 May 2017, The Nigerian Senate passed the Petroleum Industry Governance Bill (PIGB). This is the first of five oil & gas-related bills, part of the Petroleum Industry Bill (PIB), which is core to President Buhari's reforms.

Overview of the Bill
1. Introduction of a new regulator - named the Nigerian Petroleum Regulatory Commission ("NPRC" or "the commission"), to serve as the supervisory body for the Nigeria oil & gas industry. The NPRC will replace the Petroleum Inspectorate, the Department of Petroleum Resources (DPR) and the Petroleum Products Price Regulatory Agency (PPPRA), and carry out their functions. This is slightly different from the provision in the previous version of the "complete" PIB, in which two regulatory bodies called the Upstream Petroleum Inspectorate ("the Inspectorate") and the Downstream Petroleum Regulatory Agency ("the Agency") were proposed.
2. The Petroleum Equalization Fund (PEF) will continue to exist. However, the PEF Act will be repealed, and the PIGB will serve as the relevant legislation for the existence of the PEF.
3. Establishment of three Commercial Entities - The Nigeria Petroleum Liability Management Company ("Liability Management Company"), the Nigerian Petroleum Assets Management Company Limited ("the management company") and the National Petroleum Company (NPC). These entities will replace the Nigerian National Petroleum Corporation (NNPC).

The management company will hold and manage assets under Production Sharing Contracts (PSCs) and Back-in Rights assets on behalf of the government of the Federation, while the NPC will be responsible for all other assets currently held by NNPC. Both companies will be 20% owned by the Bureau of Public Enterprises (BPE), 40% by the Ministry of Finance Incorporated (MOFI), and 40% by the Ministry of Petroleum Incorporated (MOPI). 10% of the shares of the NPC will be divested within 5 years of incorporating the company, while an additional 30% will be divested within 10 years. There are no plans in the bill for the asset and liability management companies to be divested.

The Liability Management Company will assume "certain" liabilities of the NNPC and the pension liabilities of the DPR, so as not to encumber the newly formed companies. The shares of the Liability Management Company shall be held by the management company, the NPC and the NPRC, in ratio of their respective liabilities. The Minister of Petroleum Resources ("The Minister") shall initiate the winding down of this entity once the liabilities have been settled.

[dr rosso] 19/7/2017 18:35

Usual story of nobody able to rustle up $5m for proven reserves in a world class basin, yet...

Monday 16 May 2016
Oil giant BP has doubled its stake in the huge Culzean gas development as part of its £7 billion investment programme in the North Sea. The purchase of an additional 16 per cent interest in the field, from JX Nippon, has lifted BP’s interest in Culzean – about 160 miles east of Aberdeen – to 32 per cent

[htrocka2] 19/7/2017 18:07

'City mates'......are the ones who gave Betaville the 'nod'...it's curiously strange how they include the words...'and (BP is to) also look at other assets'...yet consciously fail to name any of these 'other assets'.


from the original Betaville article.

'City sources have told little old Betaville that BP is in advanced negotiations to provide Sirius Petroleum with a debt financing package that should enable the business to to fund the drilling prgramme for the Ororo oil field offshore Nigeria and also look at other assets...'

Read more...

[dr rosso] 19/7/2017 17:55

Doc H sounding gloomy with his City mates rumouring that BP deal is heading for the rocks.

Those familiar with this well-known shyster crook will recognise his latest uttering as the biggest buy signal yet. Someone continuing to fill boots whilst the negative sentiment abounds. Maybe it`s him.

[aventador] 19/7/2017 17:18

Yep just a waiting game bp is a big deal I think just due to the time we've been waiting and poor share price it can get you down but moving forwards things could well re rate massively.That's what we are all here for anyway let's hope they can do it, we are in the best position we've been in for years so that's a big positive and with pib passed and more stability in the region and oil fairly well priced all means something will soon be signed.

[astralvision] 19/7/2017 16:54

Sounds totally reasonable to me.A reminder of the relevant bit from the results RNS of three weeks ago:'BP offtake and pre-payment facilityOn 12 June the Company announced that it was in discussions with BP regarding an offtake and pre-payment facility to support the financing of the Company's proposed drilling programme on the Ororo Field. The Board intends to make a further announcement on this project in the near future.'Write your own definition of 'near future'. Mine would be less than 3 months.

[stu1210] 19/7/2017 16:47

With regard to the BP talks I would think that as we have announced we are in talks we would have to announce that they either reach agreement or they don't, is thisthe case?

[drrichard] 19/7/2017 16:44

Floats my boat, Sherlock.

[sherl0ck] 19/7/2017 16:41

I think some have underestimated the importance of the BP paragraph inclusion in the recent annual results. The logic as I see it is as follows (AIMO etc):

- unlike the leak RNS, I'm guessing we didn't officially 'have' to include this reference, so choosing to do so prior to signing a definitive contract evidences a strong relationship and positive intentions. Despite a large setback and betrayal of trust somewhere along the line, both parties have clearly managed to remain at the negotiating table
- we must surely have sought BP's permission for this second mention. It would be unthinkable to do otherwise and potentially risk rocking the boat at this advanced stage
- so it's very positive that they will have almost certainly authorised the second reference in another official release to the market
- more importantly however, they must have also agreed to the wording itself, in which case the omission of the caveat from the leak RNS just 2.5 weeks earlier (again, almost certainly reviewed by BP) wasn't an oversight. Instead it demonstrates progress over that period and it would seem, an intention from both sides to conclude the deal

Hopefully we're now just dotting the 'I's and I look forward to the near future update from the Board.

[1sonic] 19/7/2017 16:12

mms taking candy from a baby and the price buy going up!