Sirius Petroleum Share Discussion Threads

[1alfi] 22/7/2017 14:55

Doc - That press article states that ororo is sirius's main producing asset but Sirius have not yet, as you so often remind us, produced oil. Conclusion = unreliable article. What is more reliable is rns stating that we been in discussions with BP, which I take to mean the British listed company BP plc.

[oakville] 22/7/2017 14:53

Why all the RTO rumours?

[astralvision] 22/7/2017 14:49

Think most folks have already done their own dyor, but thanks.

[dr rosso] 22/7/2017 14:46

So who is BP? Dyor and you may find out ;)
3 Sirius subsidiaries now registered in Lekki FTZ gives a bit of a clue.

[dr rosso] 22/7/2017 14:40

The simple question is this. How can the BP in talks with Sirius and looking to do a first deal in Nigeria be the same Co. that pulled off a $6bn gas deal in Jan? Was the methanol offtake not a "deal".

Go to the real BP PLC website and it lists their 7 new major production ventures running through to 2019. Nigeria is not included.

[bennyfishery] 22/7/2017 14:27

Care to explain this coincidence, Doc?



MYCHAEL OBASEKI - Managing Director BP Global West Africa

Head of LNG Origination, Sub-Saharan Africa,
BP
A commercial executive with an extensive global career spanning over 18 years in the crude, natural gas and LNG trading arena. Having started with Koch Industries (Supply and Trading) in 1998, I have progressively worked in all aspect of commodities trading, from functional support management to commercial business development culminating into his present employment as Head of LNG origination for Sub-Sahara Africa for BP. he has a strong Oil and Gas commercial value-chain understanding and worked for some leading world-class Oil and Gas organizations that include Koch Industries, Williams Energy and BP. He has a strong personal and business global network and an in-depth insight into the regional Gas to Power markets .

[astralvision] 22/7/2017 14:21

Wow, full marks for persistence.You really are barking up the wrong tree.....or just barking?....Can't really believe I'm bothering to reply to something that is so idiotic really. Anyone for the flat earth society?But just as a by the by I would suggest there is a difference between bp agreeing an off take for an industrial solvent/ chemical starting block such as methanol and agreeing a 'first deal' for oil/gas.It is beyond ludicrous that you can defend your stance. Apart from anything else, BP simply wouldn't allow it. Crazy.

[qprallan] 22/7/2017 14:20

Must be Bloody Poundland then.

Doc Take a chill pill !

[dr rosso] 22/7/2017 14:13

BP eyes first deal in Nigeria | Business | The Times & The Sunday Times

11 Jun 2017 - Sirius's main oil producing asset is the Ororo field in waters off the coast of Nigeria. The debt funding from BP could be used to help the firm buy ...



Another little clue. The Sunday Times article refers to a BP securing its FIRST deal in Nigeria.


Yet we already know that BP Oil (a subsidiary of British Petroleum, BP PLC) signed a huge Nigerian gas deal in Jan 2017. PressReader - THISDAY: 2017-01-09 - Brass Fertilizer and ...

9 Jan 2017 - Brass Fertilizer and Petrochemical Company Signs $6bn Agreement with BP Oil ... The contract which was signed at the London office of BP Oil ...


So how can the deal between Sirius and BP be BP PLC`s first venture back into Nigeria? Answers on a postcard please. The inescapable logic behind this is that the BP in talks with SRSP cannot possibly be BP PLC, BP Oil or indeed anything whatsoever to do with British Petroleum.

[detective captain sean signal] 22/7/2017 13:59

If that was the case, why didn't Sirius simply deny the press speculation? It was BP 'FTSE 100 listed giant' that was touted in the Times article.

[astralvision] 22/7/2017 13:52

So SRSP and BP are both involved in deliberate deception, or SRSP used BP's name which had been widely reported in the press and you can possibly think for one nano-second that BP are just going along with this?It is simply not possible. End of, you are mistaken.* Please note , for the avoidance of doubt, all the above references to 'BP' refer to the global oil giant which is commonly referred to as 'BP' and not to any other entity that might call itself 'BP'. !!!

[qprallan] 22/7/2017 13:47

Footsie 100 Company BP ?

[bennyfishery] 22/7/2017 13:39

BP = Beijing Petroleum?

[twentysixpointtwo] 22/7/2017 13:25

Could I ask how you come to this conclusion Rosso ?

[dr rosso] 22/7/2017 13:23

The BP which is being referred to in the 2 OFFICIAL rns releases, 12 and 29 June, is not British Petroleum PLC (BP.LN). It is a completely different Company, an ideal rto target. Tens of millions of shares are being moved over. AIMO. I rest my case. I may be mistaken. We shall see.

[astralvision] 22/7/2017 13:05

Posted up on twitter by 'AntMwah'

Just a reminder of the giant parabola on #SRSP. 1.26p current resistance. Support/buy around 1.08p area.

[astralvision] 22/7/2017 12:47

Nigeria’s draft gas policy aims to attract global investment in huge sector

[qprallan] 22/7/2017 12:46

Obaseki, a well-connected new boss for BP
Chief of BP’s Nigerian operations for the past several months, Michael Obaseki has already pulled off quite a feat: BP [...]


You have to pay to read more.lol


www.africaintelligence.com/AEM/businessmen/2017/01/31/obaseki-a-well-connected-new-boss-for-bp,108209608-ART

[astralvision] 22/7/2017 12:01

it's been an 'interesting' diversion and passes the time. But let's move onto some sensible discussion, like did the US really put a man on the moon and did 911 really happen.

[htrocka2] 22/7/2017 11:59

This one's definitive...(press on the logo)

[vatnabrekk] 22/7/2017 11:57

Morning Star reported "Sirius Petroleum PLC on Monday said it is currently in discussions with oil giant BP PLC, regarding an offtake and pre-payment facility to support the financing of Sirius's proposed drilling programme on the Ororo field in Nigeria."

So they used the "plc" bit, but of course they could have just jumped to that assumption.

But if it really is "the" Bp, they wouldn't necessarily need an office in Nigeria for an off-take agreement, they would just employ an agent there. It would be delivered to them where-ever in the world they wanted it. And if they don't intend to have a presence in Nigeria, they wouldn't necessarily mention it in there web site, it is basically just an overseas supply contract.

Over to you Dr. Rosso!

[ruedolf] 22/7/2017 11:55

"astralvision 22 Jul '17 - 10:11 - 68667

Why would there be any reference to British Petroleum? It's been BP plc since 2001. Why would they be called by an old name?

This board is verging on complete lunacy at times.imo."

Astra ... Its about the most factual post we had on srsp for quite some time.


" Dr Rosso 22 Jul '17 - 11:28 - 68675

What`s more, British Petroleum has not the slightest interest in Nigeria, nor would it have the slightest interest in providing a pitiful $5m to support the drilling of a marginal field "

BP lent excite energy $5m .... business is business big or small .. abit like a bank.... but get paid in oil rather than cash.

Xcite Energy Limited
("Xcite Energy" or the "Company")



12 June 2012 Marketing and Offtake Agreement with
BP Oil International Limited

Xcite Energy announces that it has amended its agreement with BP Oil
International Limited ("BPOI"), a wholly owned subsidiary of BP plc
("BP"), as announced on 28 January 2010, under which BPOI will provide
the offtake services to market and sell the Bentley crude oil in return
for an incentive-based fee per barrel.

BPOI has undertaken that either BPOI or an associated BP company
will, subject to certain conditions, provide US$5 million of financing
for Phase 1B of the Bentley field development as part of the reserves
based lending facility being negotiated with a group of commercial
banks."