Sirius Petroleum Share Discussion Threads

[vatnabrekk] 24/7/2017 19:18

It's just a way of saying that elsewhere in the document they may refer to Sirius Petroleum plc in short-cut terminology such as "Sirius" or "the company". Nothing sinister, and it's a method used by most companies in RNSs and other formal documents.

[doug51] 24/7/2017 18:32

o/t Reading the rns's under the SIRIUS PETROLEUM PLC It has ("sirius or the "company")Can anybody explain what this means please.Thanks in advance.I know years ago they bought out a gambling company out and changed their name to "sirius".I cannot understand the or "COMPANY" bit.

[detective captain sean signal] 24/7/2017 13:21

If BP isn't BP, then BP stands for the CEO's initials IMO.

[solarno lopez] 24/7/2017 13:19

Interesting announcement from OPEC today re oil cuts which includes Nigeria this time around !

[solarno lopez] 24/7/2017 13:15

Like it JT

[jenny tulwought] 24/7/2017 13:05

boom - promising!



...ooh, look, another 'BP'.

[qprallan] 24/7/2017 12:17

BP and Shell Benefit From ‘StrategicR17; Relationship With Government. From an article in 2015


Could there be a connection here ?

[htrocka2] 24/7/2017 11:50

qprallan... nice one ...you've finally tracked it down to 'British Parliament PLC'. (BP.LON)

[sherl0ck] 24/7/2017 11:49

BH - as I said on Friday, listening to SCL's quarterly report webcast and hearing the US analysts grilling the CEO on lots of stuff he's said & on his views going forwards, was useful and compounds the view that these large companies are inherently very careful about what they say.

[sherl0ck] 24/7/2017 11:46

Continually reverting to character assassination of the BoD and posters here says it all really. I nominate 68764 to be inducted into the Hall of Fame so don't bother editing it. Oeuf sur le visage?!!

[qprallan] 24/7/2017 11:33

The British Government has expressed its readiness to invest in pipeline infrastructure, renewable energy, gas and power of the Nigerian Oil and Gas Industry.

British High Commissioner, His Excellency, Mr. Paul Arkwright, made this disclosure when the Group General Manager, Group Public Affairs of the Nigerian National Petroleum Corporation, Mr. Ndu Ughamadu, paid a courtesy visit to the Chancery of British High Commission in Abuja.

Mr. Arkwright noted that the British Government had genuine investment interest in the Downstream, Midstream and Upstream sectors, stressing that the British Department for International Trade was ready to liaise with the Federal Government to invest in the country.

The High Commissioner also urged the Federal Government and the NNPC to organize a road show in London to create awareness on the possible investment opportunities available in the Nigerian Oil and Gas sector.

Mr. Arkwright disclosed that so many British investors had funds which they were willing to invest in Nigeria, stressing, however, that the process of obtaining Nigerian visa in United Kingdom was cumbersome with three different levels of visa procurement fees as well as Nigeria’s postal order system.

In his response, NNPC’s spokesman, Mr. Ughamadu, on behalf of the Group Managing Director of the Corporation, Dr. Maikanti Baru, condoled with the British Government over the recent terror attacks in the United Kingdom.

Ughamadu, who lead the NNPC delegation, commended the High Commissioner for the Commission’s promptness in issuing visas to officials of the Corporation.
He assured that NNPC would sustain the cordial relations.

[megashareman] 24/7/2017 10:51

Ahh is still alive ,fought my screen was frozen.LOL

[deadly nightshade] 24/7/2017 10:39

interesting last post sherlock thanks for sharing that. also interesting that when we signed with schlum the rns didn't have a statement from schlum but now we have been aknowledged in there results report.

[megashareman] 24/7/2017 10:28

Half a hour silence before?

[sherl0ck] 24/7/2017 10:19

Discussed Schlumberger's Sirius reference in last week's quarterly report with a very experienced retired businessman (ran large listed companies far bigger than Sirius but doesn't hold any stock and is completely independent) and he commented that this is a classic tactic that he used frequently.

He said you'd always put stuff in the report that you absolutely KNOW will happen and when it does you can refer back to the report. It shows the analysts and market that you're in complete control and can confidently forecast and predict, which is vital in any significant public company that's continually under the spotlight.

He said it's considered standard good practice and he concluded that mentioning Sirius now and not beforehand is therefore likely to be a pretty significant barometer for the current state of play behind the scenes.

He's not interested in buying any shares and he's independently wealthy anyway, but I'm certainly not yet so I bought a few more!

[megashareman] 24/7/2017 10:00

Breakout today?

[oilbuy] 24/7/2017 09:13

1M buy880k buy

[solarno lopez] 24/7/2017 08:48

As they always are

[bumhammer] 24/7/2017 08:43

That was a good read Sherl0ck

[aventador] 24/7/2017 08:35

No rns then today about a deal with Bulgarian petroleum then? Lol

[jjcamargo] 24/7/2017 08:20

oakville, yes it is taking its time, but still getting squeezed.

[sherl0ck] 24/7/2017 08:19

I've been recently reviewing Lekoil's Otakikpo offshore marginal field in OML 11 to assess its evolution since their 40% interest acquisition in May 2014:

- Reserves were originally 36 mmbbl of oil & 31 Bcf of gas (14 mmbbl & 12 Bcf net to Lek). 3 wells were previously drilled and phase 1 would recomplete two of these. Phase 2 planned 7 new drills across the rest of the field.

- In Sept 14 AGR TRACS reviewed the data and upgraded the 2C estimates to 56.75 mmbbl.

- In Jan 15 after the project advanced (Ministerial approval of plans & financing on track) but still prior to rig mobilisation, AGR added a Resources to Reserves conversion addendum to the CPR as follows:

Gross 1P of 8.43 mmbbls (3.03 mmbbls net to Lek).
Gross 2P of 14.99 mmbbls (5.4 mmbbls net to Lekoil).

The RNS said: "2P reserves identification is one of the key criteria required by potential providers of debt financing"

- Whilst phase 2 was still classed as contingent because of the un-drilled wells, the chance of success was increased to 80% due to phase 1 progress

- First oil was achieved in Sept 15 (they missed their initial H1 deadline!) with 5703 bopd from just 1 of 4 planned production strings and significantly ahead of expectations (6000 bopd was target from 4 strings on both wells)

- Within 3 months of first oil Lek had also acquired interests in OPL 310 & 325

- Commercial production was expected in H1 2016 with 10k bopd targeted by the end of year. Plan was then to start phase 2 and move to 20k bopd by the end of 2017

- In March 2017 a Shell subsidiary provided Lek with a $15m off-take financing facility


The following things stood out to me:

- Resources to Reserves upgrade (1C & 2C to 1P & 2P) occurred prior to any drilling so can we look forward to similar?
- Lek secured an off-take from a super-major 18 months after 1st oil. We're looking to secure a facility beforehand
- First oil appeared to rapidly kickstart the acquisition of other assets
- Management expectations for oil flow figures were significantly exceeded