Sirius Petroleum Share Discussion Threads

[1alfi] 14/8/2017 09:44

I am not very clear just what this mornings RNS is saying - maybe someone can help clarify

In the first instance it is termed "Revolving Pre-payment Facility & Offtake Agreement" - so what is revolving ??

Secondly - "Sirius can request that BP provides pre-payment finance for either or both of the first two cargos of crude oil, each for up to US$10 million, scheduled to be lifted in 500,000 barrel parcels or more."

Is the above saying that each cargo is going to be a 'parcel' of 500,000 barrels of oil.

According to the cpr the extraction costs are $27/barrel - @ $50 per barrel that will leave an excess of $23 per barrel

23 x 500,000 = $11.5 million

The above figure would nicely cover the $10 mill prepayment + libor 9%

If each cargo is to be a 'parcel' of 500,000 barrels of oil and we have, as announced above, two cargo's (each for up to US$10 million), then the contract is worth $20 million.

The way I am seeing this is that of the $10 million received from BP, a percentage will be used to pay COSL, ADD energy, Schlumberger etc etc.
Rather than paying each company in full it may well be that Sirius pay them a retainer out of every 500,000 barrels of oil produced and therefor enable Sirius to have more capital available to develop other fields.

Best wishes to all long term holders - its been a long time coming

Well done to the board - I shall now humbly retrieve me golden tickets

[cautoussid] 14/8/2017 09:36

not as easy to get buy quote again
are MmS RUNNING LOW ON AVAILABLE SHARES IN FREE FLOAT

[cautoussid] 14/8/2017 09:32

Moving up nicely now as buyers load up

[doug51] 14/8/2017 09:26

RNS In addition, the relationship with BP will enchance our development programmes in nigeria going forward.This looks as if this just the beginning?

[cautoussid] 14/8/2017 09:22

ask quote now moving back up some with latest buy quotes

[x1000] 14/8/2017 09:22

I doubt they want to drill: the rig story appears to be another delay tactic while they parcel eveything together for sale. I guess the delay is Nigerian bureaucracy.

[cautoussid] 14/8/2017 09:19

buyers loading at this price
some may have waited hoping may drop to around the 1,30 or slightly below

[solarno lopez] 14/8/2017 09:18

It certainly does Recordz

[stbilow] 14/8/2017 09:16

No Press coverage as yet. Rig news must be imminent.

[recordz] 14/8/2017 09:12

Volume needs to pick up, pretty low considering it is BP involved.
Need to start seeing 1m buys.

[htrocka2] 14/8/2017 09:08

I don't think it's sunk in yet....

let me see if I've got this right, Assume Ororo flows at the CPR potential of 103,000 bopde...at 88% to SRSP in leu of payment is 90,640 barrel equivalent, @ current $52 a barrel...that makes it about $4.7m a day....ask yourself, how long will it take to pay off $10m plus interest?

[x1000] 14/8/2017 09:08

The share price is being deliberately held back. Why ?

[cautoussid] 14/8/2017 09:03

as some buy buy some still selling
this afternoon or soon may see a nice bounce as some buyers may load up while at this price after todays rns and before more news

[vatnabrekk] 14/8/2017 09:03

Seems to me that there are a lot of people out there who still haven't fully grasped what's going on here and haven't yet understood the full potential of this company/consortium.

[fund1] 14/8/2017 09:02

Still great price to get in. Some were paying 1.3 a couple of weeks ago before today's news.

[aventador] 14/8/2017 08:57

Multiwell campaign As said this hasn't even started yet expect a ten bagger plus in due course DO NOT SELL.

[cautoussid] 14/8/2017 08:56

some able to buy now at around 1.35
after Todays rns

[oakville] 14/8/2017 08:52

Image if UKOG got news like this, it would rise 50% SRSP just 12% !!!!!!!

[x1000] 14/8/2017 08:43

How long before news on gas ?

[astralvision] 14/8/2017 08:39

Great chance to add at these levels, with a massive chunk of risk taken out.

[cautoussid] 14/8/2017 08:38

nice to see todays news
now pleased with the price i got in at
was trying to buy from 8 am onwards and was unable to get buy quote then thought would wait and hope that the 10% would sell now happy to hold and wait for more of a move up Today and future days after seeing Todays rns

[minichris] 14/8/2017 08:37

Awe, this is also ONLY for Ororo and ONLY for Oil.They haven't been doing months and months of DD to arrange an tiddly offtake agreement.Were just starting to see the tip of the iceberg.

[solarno lopez] 14/8/2017 08:36

conditional upon the Ororo field achieving certain daily production levels, which are lower than the flow rates previously achieved by Chevron on Ororo 1


note the words ......lower than the flow rates previously achieved ........

[oakville] 14/8/2017 08:35

Looking at the 6 month chart surely the sellers have not made life changing profits at this level.

Hold firm and reap the rewards !!!

[recordz] 14/8/2017 08:35

1.4s are Buys.