Sirius Petroleum Share Discussion Threads

[drrichard] 14/8/2017 16:52

I have just read the RNS again and it says, re the offtake, ...BP provides prepayment for either or both of the first two cargoes of crude oil...

This reads an open agreement to me. Could BP be in for the medium/long term, throwing us $10M every whatever, for 500,00 barrels a throw? In effect, is BP our finance partner?
With the vendor finance funding the bulk of the costs, we just need a kick start. Say, we borrow upfront against the fist two loads? $20M will drill Ororo!

[jenny tulwought] 14/8/2017 16:39

1sonic
14 Aug '17 - 13:00 - 69779 of 69834 0 0

Interesting podcast - this is going to boom!

====

hmmmmm.

[stbilow] 14/8/2017 16:39

Volume over next few days must drive this north soon!!

[swiz73] 14/8/2017 16:33

Strange day. Great news this morning on the BP contract. Very disappointing market reaction tho, am hoping it improves as the week plays out.

And Sid is now officially the most annoying poster on ADVFN.....and that is saying something!!

[cautoussid] 14/8/2017 16:32

a good day for more good news
nice number of sellers shares cleared
and replaced with share buys

[qprallan] 14/8/2017 16:29

sorry Sid but your posts are starting to get annoying. Filtered

[doug51] 14/8/2017 16:28

Most of these sellers would have got a better deal last friday at 1.25 sell price?

[djj2014] 14/8/2017 16:26

Hopefully some positive press coverage in tomorrow's papers and a bounce up again.

[solarno lopez] 14/8/2017 16:25

And the price drops

[cautoussid] 14/8/2017 16:25

50,000,000 shares now traded
looking like may see a good finish to Todays trading

[cautoussid] 14/8/2017 16:22

like how volume now moving more
as this number of
buyers look to have waited until
closer to finish before buying or buying back in again

[qprallan] 14/8/2017 16:20

Where is DrRosso today ?

[vatnabrekk] 14/8/2017 16:15

ddr, To be honest, no I can't. At one point I thought that the BP up-front prepayment would be used to cover the mobilisation and start up costs, but now it appears that SRSP won't get any prepayment from BP until they are producing.

Of course if COSL and Tidewater are prepared to wait until oil is being produced before they seek their initial payments, then in a sense they are part-funding the mobilisation and start-up, but I imagine that SRSP will incur a lot of costs before they start to get money coming in.

Which brings me back to the question, who is going to be the official operator of this well? Sirius don't have the expertise or experience of operations, so is the operator going to be Guarantee Petroleum? They have always claimed to be the operator of Ororo in the web site. Perhaps a merger of Guarantee and Owena? Then presumably between them they would be able to fund the balance of the mobilisation and start-up costs?

Intriguing!

[1sonic] 14/8/2017 16:14

It's been game on all year yet some didn't see it! Now paying well above what they could have! Fill your boots as this is going boom very soon...

[bennyfishery] 14/8/2017 16:11

The herd has arrived!

I suppose it was to be expected, and in many ways it's a good sign.

Every herd of wildebeest has a leading bull, and in this case, Sid has decided to accept that role.

The long term believers have undoubtedly topped up along the way and are now sitting comfortably waiting for the long anticipated events to unfold.

I offer my thanks to Sherl0ck and Drrosso for their diligent research, and am happy to sit back and watch events unfold.

I'd also like to congratulate Team Sirius on their hard work and amazing results.

Game on !

[cautoussid] 14/8/2017 16:10

1,28,now being well tested again with current buying pressure

[cautoussid] 14/8/2017 16:06

while some may be disappointed to see this buying
i personly pleased to see this number of buyer who picking up shares

[doug51] 14/8/2017 16:04

12th June Sirius Petroleum where in discussions with Bp over offtake agreement regarding ororo....the share rose up 68% and was trading at 1.35p,we are now trading below 1.35p with confirmation? I think the mms are tree shaking

[cautoussid] 14/8/2017 16:02

nice to see the buys coming again
not surprised to see after todays news with B P in rns

[htrocka2] 14/8/2017 16:01

It looks as if the sellers have blown themselves out....onwards and upwards.

[solarno lopez] 14/8/2017 15:56

Because he is a ramper and now that he is in he needs the price higher ..voila !

[bennyfishery] 14/8/2017 15:53

Why doesn't Hissing Sid just hiss off?

[drrichard] 14/8/2017 15:52

Vat, yes but they bring no cash to the party. I have been working under the impression that the final partner will bring the cash to open the door to Ororoo and all that follows. I cannot see any other way to get the cash to progress unless we borrow aor are bought out, can you?

[alongfortheride] 14/8/2017 15:51

FFS Sid ... give it a rest !!