Sirius Petroleum Share Discussion Threads

[6cer] 26/7/2017 12:23

Another couple of years - you must be off your trolly ! I want 50p plus and I want it NOW !

[sherl0ck] 26/7/2017 11:55

It was very clear to me from the discussion and one or two skilfully deflected questions at AGM that we ARE indeed involved in highly sensitive deals, certainly of regional but perhaps national importance, whereby protecting our consortia's innovative commercial blueprints from competitors is critical at this stage ('stealth mode' if you will).

If you accept this - and some clearly don't (perhaps imagining a sadistic BoD who take delight in tormenting shareholders) - it's then useful to contemplate the various project scenarios that could fit this and nicely tie together all of the clues, some of which I feel have been hiding in plain sight.

I've mulled over several substantial scenarios, with one a very clear favourite that seems to make sense out of everything we've read in RNSs & heard from Bobo. As such, I've been investing 'ludicrous money' of my own free will and volition in the knowledge that if the ludicrous amount of time spent researching pays off, there will be ludicrous rewards. (Only last month UKOG was hovering around a penny and eliciting much BB negativity, including some lth's).

Even if I'm not on the button, the consortium parties involved demonstrate that we'll still do very well indeed. I reckon very soon we'll all be feeling the heat.....from the brightest star.

Thus endeth today's ramp. Now let's see if this moves the price up as I'm so obviously desperate to sell up at 1.2p.

Ps - I was only joking about 1.2p. If truth be told I'm actually targeting a £5m ROI and if it takes another couple of years or more, then so be it.

[bronislav] 26/7/2017 10:56

Xerot..I am still confident but like us all frustrated.We all want it to get over the line as it is a win win for all involved.Each day gets us a little closer and hopefully the payday is worth the wait.

[pipelinepete] 26/7/2017 10:48

Very strong resistance at 105, news imminent...

[astralvision] 26/7/2017 10:11

Thanks for the advice Xerot.
Each to their own, but I'm happy with the updates and progress over the last year. It helps that the share price has increased in that time considerably. If I wasn't happy I would simply sell and move on. No advice intended.

[xerot] 26/7/2017 10:08

Well said bron, some of the other long termers finally coming around the the fact this company has failed to deliver, patience only lasts so long.

[xerot] 26/7/2017 10:07

Astral vision if you call that an update you need to go to spec savers.

[astralvision] 26/7/2017 10:00

BronislavThen we are in agreement although trying to stop speculation on a bb is like trying to nail jelly to the wall, a thankless task.One only has to look at the nonsense here over the w/end to understand some folks will speculate that black is white and vice versa. I guess it passes the time.

[pipelinepete] 26/7/2017 09:57

I have trust in the board and their decisions, that's why I invested.

[bronislav] 26/7/2017 09:43

Astralvision...I am agreement about the posting of nonsense .As for the update on BP in the results ,I suspect it would never of happened if we hadnt have had it leaked in the press.Sirius has only itself to blame for speculation on bulletin boards.If they made it clear and concise there would be no need for speculation.There are far too many grey areas with this company,it may be that it is necessary if they are involved in sensitive deals etc,if not then they will be judged accordingly.

[vatnabrekk] 26/7/2017 09:42

Thanks Dr. Rosso and HT. Yes I am aware of the ownership situation, although I wasn't sure whether SRSP was likely to end up with an interest in 241 when the dust settles. The main thrust of my question, however, was to try to establish what activities these companies actually perform at the present time. Are they just sitting there as owners, or do any of them actually do any work or production on 241 or anywhere else in the world?

I was really wondering if any of these companies have the capability to become operators of the consortium's assets assuming it ever gets off the ground.

[htrocka2] 26/7/2017 09:29

I see that no caught the dropped penny....

'...As with ALL OTHER COSTS incurred under the FTSA, the licence fee is cost recoverable from oil production'

The Gas and Oil are two separate issues. The FTSA only covers oil and doesn't mention gas . Five years after the FTSA was issued they specifically re-iterate that expenses incurred within the remit of the FTSA ie, oil production, are to be claimed against 'oil production' (through which the 88% preferential payments are made)....( the term hydrocarbons has been used on many occasions... but not in this case)


'Pardon my ignorance, but what exactly do Guarantee Petroleum,...do'

They own the oilfield and we work for them.

[astralvision] 26/7/2017 09:26

Bronislav, I am aware of the history of the company and also aware some folks have been invested here for some time and are, understandably, frustrated.
However, that does not excuse posting stuff which is clearly a nonsense, we had an update 3 weeks ago, that is recent in anyone's book.

[dr rosso] 26/7/2017 09:25

Between the 3 of them, they are 100% owners of the Block 241 and Ororo Field petroleum leases. Sirius on the other hand has acquired for $4.6m a number of E&P licences which gives it the right to go into production. Sirius, through the FTSA, also has a max 40% working interest in the Ororo Field, with a similar arrangement thought to be in place for 241.
For 241, OW is the designated operator, the lease split 20/80 with Owena O&G
For Ororo, GP is the operator, the lease split 55/45 with OOG


What do these Companies actually DO? The task of finding technical and funding partners to bring the assets into production has been delegated to the investing Co, Sirius Petroleum. Ownership of the assets remains in the hands of OOG, OW, GP. Without their say-so, and until FGN approves their applications, no production can take place.

Sirius may become a PSC partner, it may choose to remain as an investor, it may sell its licences, its 40% working interests, or even itself.

[vatnabrekk] 26/7/2017 08:17

Pardon my ignorance, but what exactly do Guarantee Petroleum, Oilworld and Owena actually do? Their web pages seem to be full of boastful one-liners, but don't give any real information about what they do and where.

[shez20] 26/7/2017 07:42

Well put bron!

[bronislav] 26/7/2017 06:32

From the start of your posting on here astral vision it would suggest you have not been invested too long in Sirius ,of course you may of been here much longer..Some of the long term here, have been invested for 6-7 years and this company has in my view given very little regard for keeping the shareholders informed .Raising money on ridiculous terms over those years with false dawn after false dawn.If some of us appear frustrated (putting it mildly)then we have good reason.We are all hoping that these large companies linked with Sirius actually get the share price back to the levels of 6years ago as it's the value of ones investment that lights the fire .This company is long overdue some progress that isn't just jam tomorrow,progress that isn't another "nearly there"rns .

[xerot] 26/7/2017 06:02

No not daily updates but maybe one a year, jeez

[astralvision] 26/7/2017 00:16

You're having a laugh, surely.They put out the results statement just over 3 weeks ago, which included this bit:'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.'What do you expect, daily updates or something? Jeez.

[oakville] 26/7/2017 00:11

The silence is deafening.

Can they just put out an RNS to say the BOD are still alive? !! Lol

[sherl0ck] 25/7/2017 23:34

Vat - in Mozambique they stood outside of the main partner consortium as a separate offtake partner. In Senegal they acquired an equity stake in the project....and may provide offtake too, although I'm not sure the latter has been explicitly acknowledged yet.

Talk of an off-take prepayment for Sirius might lead us to assume there's no equity stake element but I guess we'll just have to see when further details are revealed. I'm comfortable with either option or even a combination of both being applied.

Main thing is BP potentially complete a rather tasty supply chain. Existing consortium partners are focused on getting hydrocarbons out of the ground. BP can then market products globally.

BP could well be worth waiting for as big projects rely heavily on securing multi-year off-take agreements to help validate and underpin wider financing. Look at how BP's methanol offtake agreement at BFPCL really helped kick-start what had to that point been a floundering initiative. Note also how their Mozambique gas offtake helped to provide confidence to the 15 or so banks putting $billions on the table.

[htrocka2] 25/7/2017 23:00

Talking of gas....what do you find curiously interesting in this rns extract that was posted 2 months AFTER agreeing a 'gas formulation strategy'.



Licence Renewal

Negotiations have now been concluded between the Partners and the FMPR and as a result Sirius will pay the Renewal Fee which is recoverable under the FTSA Agreement entered into between the Company, Guarantee and Owena Oil & Gas announced on 10 October 2011. As with all other costs incurred under the FTSA, the licence fee is cost recoverable from oil production

[vatnabrekk] 25/7/2017 22:43

Yes I accept that BP may very possibly want off-take agreements for gas as well as oil, but I don't believe that BP will be looking for a share in the licence, nor to get involved in the operation, just to get hold of some of the product.

[sherl0ck] 25/7/2017 22:03

Vat - whilst off-take might be focused initially on oil, BP won't be here just for that. Their appetite for gas is very clear and yes, they'll want to ensure supply to their global customers. But it doesn't have to be at the complete expense of local supply too.

And as much as Nigeria is in need of gas, FGN stands to gain significantly from export royalties, hence the longstanding desire to complete train 7 on NLNG etc (some suggest this huge project has almost single handedly helped bail out FGN during their lean times).

Mozambique initially decided that their new gas fields would have to be focused solely on local supply, then completely backed down on this, which probably made the 20-year gas off-take attractive to BP.