Sirius Petroleum Share Discussion Threads

[xerot] 22/7/2017 08:42

This company don't want the risk of drilling it themselves as they are simply too small so they have been looking for a partner to share the burden, remember they have barely enough money to keep the lights on and not even enough money to pay their directors a salary without it being deferred. If they did do a drill and something out of the norm did happen they would have little or no cash to bail themselves out. Hence they simply do not want the risk of drilling on their own. Not to mention they don't have the right people in the company to manage that anyway. They are not an oil company, at best they are a smaller version of Ophir where they prove up assets, but why not come clean and say that is what we are doing rather than these ridiculous lines about production, they don't want it as it is far too risky for a firm with very little capital to fall back on.

[vatnabrekk] 22/7/2017 08:37

I don't believe that the BP negotiations have anything to do with the delay in delivering the rig. I am firmly of the opinion that we have several score Nigerians trying to divi up the pie, and so far they have failed to agree on that. Once they reach agreement (if they ever do) then everything else will start to move along the track, including the BP agreement.

[xerot] 22/7/2017 08:36

Instead we get more nonsense like we are working on something, haven't they had long enough? Might be better to forget this whole thing if they can't get it done rather than string it out for more years? Why did Regan walk away if it was all good ? He is a smart man and knows how to make money, he sold up and that tells you something.

[xerot] 22/7/2017 08:29

I would rather plan A, Sherlock as it means they would have achieved something and we would have revenue, stuff BP it's all a load of nonsense, why do we need them anyway. We have the drill paid for in arrears and all the other partners there, we don't need BP, just get drilling like they said they would be. This production thing is a game of chicken, they don't want it but are trying to get the buyer to make a move before they drill. Unfortunately for us the other side has worked out we are never going to drill hence no offer and also no drill to add to our own personal pain. Stuck in limbo with a very weak hand.

[dr rosso] 21/7/2017 22:29

Schlum contract was 20 Dec. 2 days later .......



22 Dec 2016 Schlumberger Latest Job Vacancies


 Schlumberger

 Lagos

Specialization Engineering , Project Management Industry Oil & Gas / Mining Job Type Full Time Qualification HND , Bachelor's Degree , PGD / Master's Degree Location Lagos Schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Working in more than 85 countries and employing people who represent over 140 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production and integrated pore-to-pipeline solutions for hydrocarbon recovery that optimize reservoir performance. Job Listings: 1. Construction and Commissioning Manager at Schlumberger 2. Project Manager at Schlumberger 3. Project Engineer at Schlumberger 4. Project Services Manager at Schlumberger

Interesting that a week of dipping share price and some very big buys should coincide at the end with Schlum at last choosing to release confirmation of the contract awarded by Sirius. Someone has managed to trouser a shedload at the low price. Schlum pretty much confirms that they always knew it would be H2 for events.

[aventador] 21/7/2017 22:12

One week it will be the week all is revealed though as for when no telling.So Maybe we shall try stay positive and one day we may see 6cers 50p haha.

[aventador] 21/7/2017 22:08

Pipe you say that every week doesn't happen tho change the record.

[pipelinepete] 21/7/2017 21:47

All shares bought up from 101 - 115 in a flash, the great thing is.....there's more to come I reckon lol Next week with or without news - 1.30 no probs

[sherl0ck] 21/7/2017 21:41

SCL know that every line in their quarterly results is very heavily scrutinised by their investment community and leading analysts from the major financial institutions. You simply don't include a paragraph regarding Sirius if you're uncertain it will materialise. I'd wager that some real progress has taken place behind the scenes in the past 3 months that's led Schlum to make this inclusion now rather than previously.

I listened to their results webcast today and whilst there was no specific mention of Sirius (wasn't expecting this) I did pick up on themes around innovative collaboration with partners, how all their projects must be attractive across the entire cycle and how they're constructing a venture fund comprising financing from international banks, family offices and pension funds.

I must admit that I was rather tempted to join the actual conference call and try and ask Paal Kibsgaard a question about Nigeria & Ororo...... but I chickened out, which was probably a good thing as it ended up being only US analysts from the likes of CSFB, Morgan Stanley etc asking much better questions about the US market & macro issues.

[ruedolf] 21/7/2017 21:40

" BillyRayValentine
21 Jul '17 - 12:03 - 68595 of 68646 13 0
...from Schlumbergers' Second-Quarter 2017 Results

"Sirius Petroleum, an investment company focused on oil and gas exploration and development opportunities in Nigeria, awarded Schlumberger a multiwell contract for ISM operations in the Ororo field. The contract, which will begin later in 2017, includes directional drilling services, logging, completion and production fluids, cementing and pumping services, well intervention and stimulation products and services, well testing services, wellsite communications, data and software solutions as well as Cameron wellheads and production trees."

Good find by Billyrea ... Couldn't get a clearer statement that srsp are going down the production route ... all they need now is a wad of cash to pay for it all.

[the truth teller] 21/7/2017 21:10

Well it's was a good day because it was my Last one for 3 weeks at work as I'm on holiday flying from Gatwick on Monday to Barbados.

It was also a good week because SRSP is being pegged. Which makes me money.

What more could you want.

[deadly nightshade] 21/7/2017 20:49

yep that was a nice find today in the schlum results. to be involved with a massive player like schlum who have massive insight into the oil/gas in nigeria is one big positive. feeling good this weekend and seeing the big trades going in lately makes me feel even better.like i say money talks

[dr rosso] 21/7/2017 20:24

No ref to Sirius contract in Schlum Q4 or Q1 Results. Contract allegedly signed in Dec 2016. First mention of it comes in July 2017 when the Q2 Results are announced. Curious delay.

[the truth teller] 21/7/2017 20:22

Desperation my friends just despiration

[deadly nightshade] 21/7/2017 20:15

just doing a bit of research on this pib and i wonder even though its been passed by the senate, its the house of representatives and then the top man who finally sign it off and i wonder if that might be the hold up here. i just read a article regarding the pib and it basically said of the importance to get the pib signed off by the house etc -----At the inception of the current 8th Assembly, Senate president, Bukola Saraki, had assured the nation that the PIB was very high on the agenda and would be passed. Part of the strategy for this was to unbundle the perceived nebulous and controversial proposals of the original PIB into five components, starting with the Petroleum Industry Governance Bill (PIGB). While the Senate has passed this first component, the House of Representatives decided to take three of the components together. Of course, these have not been passed, hence the Senate version is still awaiting concurrence from the House. At this rate, we are left to doubt the commitment of the legislature to the PIB and wonder if, indeed, it will ever be passed to the satisfaction of all the critical stakeholders in the industry. It is actions like this that stalled the reform of the industry, and made the country lag behind smaller oil producing nations.

The PIB, if and when eventually passed into law, is primed to restructure the oil industry, streamline the coordinating role of the minister of petroleum resources, create an efficient and effective governing institution, promote transparency in the administration of the petroleum resources of the country and, finally, create a conducive business environment for industry operators.

All of these objectives constitute lofty ideas which experts believe would bring the industry to its optimal best and in line with global best practices. Why, therefore, is there no unanimity of purpose to bring this about? It is time for government and all stakeholders to get really serious. While the present opaqueness in the industry may serve narrow and short term interests, in the end, we are all losers.

The country’s oil industry, in many ways, mirrors the failings of the country. While the few privileged elites in the corridors of power are satiating their primitive thirsts for oil funds, the host communities at the lower end of things, and the entire oil and gas industry, are stopped from actualising their full potentials for the benefit of all. It is unfortunate that Nigeria abandoned its many other resources that had, until the discovery of oil, served it well to concentrate efforts on this resource, to its utter shame and damnation. Today, oil is viewed more as a curse than a blessing.

[bumhammer] 21/7/2017 19:56

In a funny way, even Schlumberger investors know of things happening with this project before we do..

Anyway onwards and upwards. I got a good feeling

[htrocka2] 21/7/2017 19:42

Schlumberger

'...The contract, which will begin later in 2017,'

I found this comment pacifying....and wondered if Schlum are actually telling us that the BP talks have reached a successful conclusion?

[deadly nightshade] 21/7/2017 19:37

some nice late trades going in today, sets this up well for next week, some folk are buying big style and mm's are working overtime with these late reported trades and spread movements to accomodate these buy/sells. looks like they want our shares

[the truth teller] 21/7/2017 19:30

C) you just keep kidding yourselves

D) it will never in your life time procure

[sherl0ck] 21/7/2017 19:25

Shez - assuming that the effort involved in potentially signing up a world leading supermajor like BP has taken longer than anticipated and therefore directly impacted the H1 target, would you rather:
A) we'd drilled in H1 but missed out altogether on BP
B) miss H1 target but add BP to the consortium in H2?

[astralvision] 21/7/2017 19:25

Chart looking very tasty. 3 yr chart showing massive bowl/ cup and saucer formation with confirming increasing volume. It looks like it needs the slightest of nudges and this will be away. Soon. imo.

[the truth teller] 21/7/2017 19:20

Well as predicted it was a good day , for me that is just not you lot waiting for news that will never happen.

When will you boys and girls realise the inevitable.

How long can you keep kidding yourselves.

But I guess tomorrow is always another day.

10 Years is a very long time you know 😩