Sirius Petroleum Share Discussion Threads

[shokty] 07/8/2017 11:39

Can't seem to get any at this price

[astralvision] 07/8/2017 11:37

On a separate matter MM's not wanting to sell you too many at the moment.

[astralvision] 07/8/2017 11:32

Link for Rigzone



other sites still give Singapore, but presumably Rigzone must be getting their data from somewhere to make a change

Would fit in with your post qprallan re 25th July



Anyone want a RIG update ? (fwiw)


Just had a reply to another email I sent:

Hi Allan,



We have her as ready stacking in Singapore still - mobilization dates are 20th July to 14th Aug. The contract in Nigeria supposedly starts on the 15th Aug, so she best get cracking if she wants to get there on time!

Can't say if we've been monitoring her on a daily basis, but as and when something is announced, it should be updated accordingly…



If you would like to check back occasionally, I'm happy to provide you with what we have at the time.



All the best,

Nic

[solarno lopez] 07/8/2017 11:28

Verification needed before we accept the rig is on route

[qprallan] 07/8/2017 11:23

Rigzone have the rig enroute again



RIG DETAILS
Region: Africa - West
Rig Status: Enroute
Contracted: No
Derrick: Loadmaster 160' x 35' x 35'; Capacity: 1,500,000 lbs; Hook + Setback: 2,400,000 lbs
Drawworks: NOV D3000UE AC 3,000 HP

And the Teal is off the coast of S Africa





If a connection, we could be getting there !

[htrocka2] 06/8/2017 23:23

last one tonight..

OML 110 is directly adjacent to OML95.. The Japanese drilled A WILD CAT well in 1973 and managed to produce 3500 bopd...Cavendish Petroleum, a Nigerian Indigenous company drilled a well in 1997 and got the bopd up to 9500 barrels of oil. In the year 2000 Cavendish petroleum made an off take agreement with Glencore at 50,000 barrel deals.(remember this is next door to the Ororo field)




'...and in 2015 was re- estimated to have 500m barrels of oil reserves from an initial estimate of 10m barrels in 1997.


(and the original Ororo estimates are based on 1986 data)

[vatnabrekk] 06/8/2017 22:17

Rather complex relationships! Must be rather difficult to get them all to agree on any particular issue.

[htrocka2] 06/8/2017 21:48

Vatna...

'And perhaps that should not come as a big surprise as one of those involved must be Owena Oil, which has a rather complex history.'

It's ironic you should make a reference to Owena Oil.. Three companies that are interrelated and emerged as a consequence of the Owena Oil and Gas ownership dispute a few years ago are 'Owena Oil and Gas Limited' themselves, who remain 100% property of Ondo State, with whom srsp have a partnership via Ororo. Then we have 'Owena Oil Limited' and 'Owena Energy Limited', both are thought to have economic interests in some of the projects that Owena Oil and GasLtd are involved in. The latter is owned by our good friend, the ex Ondo State Governor Dr Mimimko and both claim an interest in OPL 241. I'd cut and paste the reference, but there's a heavy legal proviso regarding use of the page...but if you go to the Owena Oil and Gas website, at the bottom of the page, left hand side, punch in the 'private policy' reference. This should give you some idea of 'Owena Oil's involvement. These two off shoot companies are probably involved with the BP talks as well.

I'm not sure how old this is but according to this Graham is still on board,, ,and would undoubtedly be heading the SRSP negotiating team.

[qprallan] 06/8/2017 20:57

Nigerian crude oil differentials remain strong on distillate margins

[bumhammer] 06/8/2017 20:21

Have a good week fellow SRSP investors.

[oakville] 06/8/2017 20:15

Chart still in tact !

[vatnabrekk] 06/8/2017 19:03

I cannot believe that BP and SRSP cannot agree. Surely an off-take agreement is not going to be so complicated that it takes months to reach agreement. And as for the $5M-$10M prepayment, that is such a relatively small amount in the overall scheme of things that it is inconceivable that the entire process could be delayed because of that.

Lawyers dotting i's and crossing final t's? I doubt it. If all of the detail was agreed between all of those concerned, then the lawyers wouldn't take months to do their dotting and crossing, as they would be under serious pressure to get their fingers out.

So that leads me to only one conclusion, that the members of the consortium have not yet been able to agree on the details. And perhaps that should not come as a big surprise as one of those involved must be Owena Oil, which has a rather complex history.

I reckon that as soon as the members of the consortium reach agreement, the log-jam will suddenly become un-jammed.

[drrichard] 06/8/2017 18:25

And why are they not replying, I wonder?
1. Lawyers are dotting i's and crossing final t's
2. BP and SRSP cannot agree,
2a. Alternate additional partners being sought for funding
2b. SRSP going to self funding with current partners

Any other options? I for one hope it is 1.

[bronislav] 06/8/2017 18:18

Htrocka.I cant disagree with you there .

[vatnabrekk] 06/8/2017 17:52

And why? Because they're still fighting like ferrets in a sack!

[htrocka2] 06/8/2017 17:23

Bron.....the fact that the company are not answering the questions speaks volumes.....hence, one must conclude that they're not in a position to answer.

[bronislav] 06/8/2017 16:52

Htrocka...I admire you for your search for the answers but I would guess most on here would agree its time we had thise answers from the company .I feel sure they will come but kniw not when ..Is it time to sit back and wait in the interests of keeping our sanity.?

[htrocka2] 06/8/2017 14:10

conclusion....In view of the parallel sentences between the two above references, The 'Oil Block' in rns dated 21/06/2012 is undoubtedly OPL 2012.. This is confirmed by the rns issued on 26/11/2012 that states that the 'Oil Block' and ORORO will be drilled as a single operation. A further rns issued on 16/11/2016 re-iterates.....'The contract envisages a drilling programme on the Ororo Field and could be expanded to include other potential offshore assets.' (ie, more than one)

Surely there must be loads that BP can mull over?...especially as there seems to fields at the 'ready to drill' stage.

[oakville] 06/8/2017 14:02

Please don't say "this is the week" nothing ever comes of it !

[htrocka2] 06/8/2017 13:44

acreage OPL 2012.(a description from an independent source)

OPL 2012 is located Offshore Niger Delta, in shallow waters between 50 and 100m, within a highly prospective zone bordered by Shell’s HD field to the northwest, NNPC’s Agbara field to the west, several oil and gas discoveries of Addax to the south, H1 field of Sunlink to the west and JK Field of Shell to the north.



Summary of the Block (from the SRSP rns....kicks off word for word..)

-- Located offshore Nigeria, in shallow waters with depths between 50-100m and within a highly prospective zone. This is an area associated with maximum deltaic progradation and sedimentation, evident in the maximum seaward growth of the delta within this region.

[htrocka2] 06/8/2017 13:30

It has a CPR and is ready to drill. (and looking for investment....surely BP would take more interest in this one than Ororo?)

[vatnabrekk] 06/8/2017 12:18

The RNS in 2012 states the the Block is about 30-40km offshore, and in water depth of 50-100 meters. Surely that description doesn't fit in with 241?

[qprallan] 06/8/2017 11:27

I am sitting here on a Sunday, twiddling my thumbs etc. I came across this interesting article about the Nigerian Petroleum industry. It may be of interest to some:

[drrichard] 06/8/2017 10:41

Agree Ht. SRSP have only ever talked of "the block" and "the field" and it was only educated guesswork that linked the block with 241. Indeed, the BoD have always refuted any attempt to get them to talk about 241.