Sirius Petroleum Share Discussion Threads

[pipelinepete] 27/7/2017 22:56

I did say it would break 1.30 with or without news this week :) Lovely to see everyone back on board and ready for the choo chooNews imminent, bp, schlumberger, tidewater, add energy, COSL, pipeline of assets - still looking very cheap indeed. Coiled spring. Ping

[htrocka2] 27/7/2017 22:52

'Have the MM's got wind of something?'

Let's hope its not just hot air...

[oakville] 27/7/2017 22:04

Unusual to see the late rally in the share price on pretty low volumes. Have the MM's got wind of something?

[oakville] 27/7/2017 22:03

Print
Alert
By Timothy Puko
Oil prices rose to fresh two-month highs Thursday on building momentum from recent inventory declines.

Light, sweet crude for September delivery settled up 29 cents, or 0.6%, at $49.04 a barrel on the New York Mercantile Exchange. Brent crude, the global benchmark, gained 52 cents, or 1%, to $51.49 a barrel on ICE Futures Europe. Both are now on four-session winning streaks that have produced the biggest gains over any four sessions since early December.

With U.S. prices settling above the $49 mark for the first time since May 30, momentum-based traders could be poised now to send prices back above $50 a barrel, too, brokers said. That could mark the end of a monthslong chain of selloffs that scuttled a widely expected rally toward $60.

"Today's market action suggests that the recent rally has long legs and full capitulation by the bears maybe at hand," said Peter Cardillo, chief market economist at First Standard Financial in New York.

The Energy Information Administration said Wednesday that U.S. crude stockpiles fell by a larger-than-expected 7.2 million barrels last week -- the fourth-straight weekly drop. Supplies of gasoline and distillates also fell, while output abated slightly.

"Recent inventory draws have been favorable and suggest we are beginning to rebalance," analysts at Goldman Sachs Group Inc. said Thursday in a note to clients.

Demand has been strong in the U.S. and abroad. U.S. gasoline demand is rising and likely to break record highs soon, ING Bank said Thursday. Gasoline futures are increasing as refineries run hard, said Ric Navy, senior vice president for energy futures at brokerage R.J. O'Brien & Associates LLC. And U.S. exports abroad showed a "meaningful increase," said Piper Jaffray Cos.' Simmons & Co. International.

But many warned of big questions, too. International demand could simply be from international buyers refilling their storage. And increasing exports are necessary to keep easing a glut in U.S. storage, the Simmons analysts said.

Prices could still be locked into a range between $45 and $50 a barrel because higher prices would probably support an oversupply from new drilling in the U.S., the Goldman analysts said. Signs of more inventory declines in other industrialized nations are also likely necessary before it is clear that a glut is gone from storage, which has been at historically high levels, they added.

Crude demand by U.S. refiners will likely recede in September and October when seasonal maintenance work begins, Société; Générale noted. Meanwhile, long-term Chinese oil demand is expected to lose some steam as the country veers toward green energy and natural gas, said BMI Research.

Some selling early Thursday likely came from producers taking advantage of higher prices to sell future production, Scott Shelton, broker at ICAP PLC, said in a note. And, as the other analysts suggested, the market will need new buyers to balance that out.

"I am not convinced that these kinds of buyers will show up," Mr. Shelton added. "I don't see the next incremental buyer and I see more natural sellers. I am still bullish, but overall I could see this being a grind."

Gasoline futures gained 2.73 cents, or 1.7%, to $1.6446 a gallon, a three-session winning streak. Diesel futures rose 0.79 cents, or 0.5%, to $1.6032 a gallon, a four-session winning streak.

--Justin Yang and Jenny W. Hsu contributed to this article.

[stbilow] 27/7/2017 21:28

British Government to Invest in Pipeline Infrastructure, Gas, Power.

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

hxxp://nnpcgroup.com/PublicRelations/NNPCinthenews/tabid/92/articleType/ArticleView/articleId/821/British-Government-to-Invest-in-Pipeline-Infrastructure-Gas-Power.aspx

[drrichard] 27/7/2017 21:24

Fascinating Sherlock. Given that, what do you reckon will be method of choice? We have espoused both LNG and FPSO. Oh, how I would love to hear that we have circa 2-3 mtpa to play with. What a glorious problem to have, and well worth the attention of partners such as ours.

[aventador] 27/7/2017 21:22

Yeah think I'll die of shock if this ever comes off after 7 years lol

[cornishtrader1000] 27/7/2017 21:12

To many 'carless whispers' over the years, we want 'Freedom', hopefully the 'cowboys and Angels' come together. We've been 'waiting for that day' for to long.

[sherl0ck] 27/7/2017 21:11

O/T - Thought I'd put a few summary notes together and provide some bedtime reading on the hot topic of monetising stranded gas fields....

Shell's infamous Prelude gas project offshore North Western Australia was signed back in 2011 when the prospect of demand/supply & pricing for LNG was somewhat different. The absolutely massive vessel was constructed in South Korea by up to 5000 workers at one point and it's in the news right now having finally been completed and towed to its destination over the Browse Basin, 475km offshore Broome, Australia. It will now be securely moored to the seabed and be able to withstand a 1/10,000 years Category 5 cyclone.

Funded via a heavyweight consortium and partners including KOGAS & Inpex, the ship is the world's largest vessel - at 488m its length equates to 4 football pitches. It weighs 6x more than the heaviest aircraft carrier and contains 5x more steel than Sydney Harbour Bridge. The cost has estimated to be well north of $10bn ($8bn was the original projection) which just goes to show the significant value of gas fields that would otherwise sit untapped.

All the more surprising therefore to learn that it's primary focus is to help monetise just 3 Tcf of gas over the next 25 years. Not a small field by any measure, but nothing like the largest super-giant gas fields in the world or even the 50 Tcf+ targeted in Senegal/Mauritania by BP & Kosmos.

But to put this into context the planned annual production from 7 subsea wells of 3.6 mtpa of LNG, 1.3 mtpa of condensate and 0.4 mtpa of LPG equates to some 110,000 barrels of oil equivalent per day.

However, the fear with a mega project like this is that the projected profitability will have been greatly reduced in the intervening years since 2011 due to significant price variations and the growth of US shale and competing, more cost effective LNG supply.

Whilst Prelude was a world first and a marine technological innovation, I'd be very surprised if we ever see anything similar constructed again. If this project was being kicked off today it's unlikely that it would reach FID without major redesign.

As a comparison, Ophir are targeting a gas field a little smaller than Shell's and whilst their annual production is projected to be around 2.4 mtpa, their total vessel & upstream development cost is coming in at the $2bn mark.

To put this into context, Golar / Ophir will be targeting around $600 cost per tpa for their project whereas Prelude will come in around $2000 per tpa. With long term expectations of gas pricing unlikely to get back to anything like what was seen previously, it seems the world is now moving towards smaller scale, more flexible and cost-effective solutions when it comes to monetising valuable stranded gas fields.

[oakville] 27/7/2017 21:04

Xerot. Wake me up before you go go.....

[cornishtrader1000] 27/7/2017 20:37

I'm sure BP would provide more clout than Earnest Young.

[htrocka2] 27/7/2017 20:35

Doug...... news has got to come one day. The reason why UKOG went berserk was mainly due to reliable independent sources, Earnest Young in this case, upholding and confirming their belief in the possibility of what's under ground....That's all we need here.

[deadly nightshade] 27/7/2017 20:35

thats ok doug best of luck mate

[xerot] 27/7/2017 20:33

Price action suggests more than the usual pump and dump this time. It needs real substance to really get this shifting and it looks to be the real deal this time around

[bumhammer] 27/7/2017 20:32

I'm taking a concealed flask of Vodka to work tomorrow as its going to be a goooood day

[doug51] 27/7/2017 20:13

DEADLY:Thanks

[doug51] 27/7/2017 19:50

DEADLY. No offence but they have struck oil,our rig is not yet moved. but something maybe in the wind, I have been here so many times with pump and dump, I am not expecting any difference tomorrow unless we get a Rns.I do hope i am wrong.

[xerot] 27/7/2017 19:30

We are going to get some sirius movement here.

[deadly nightshade] 27/7/2017 19:27

good day today folks, i have always said 2.5 billion shares in issue is peanuts and looking at ukog proves that they have aprox billion more then us and look where they have gone. considering the length of time this has been dragging on then the company have done well too just have the 2.5 billion in issue.

[xerot] 27/7/2017 19:26

Oakville its going to break out like George Michael out a closet wearing a leopard print g string and pink cowboy hat.

[oakville] 27/7/2017 18:30

So it has room to fall back slightly to 1.1 for a few days but it's going to break out one way or the other.

[oakville] 27/7/2017 18:29

It's teasing me !

[oakville] 27/7/2017 18:28

Christ it only needed one more tick up to break out of the current trend !!!