Sirius Petroleum Share Discussion Threads

[dr rosso] 29/8/2017 15:44

... which is why a 2p rerate on just-Ororo-declared or a 5p rerate based on Ororo+ revelations are both to be regarded as merely new starter platforms before the O&G going gets serious as NewCo moves into multiple-well drilling and production. Hold.

[solarno lopez] 29/8/2017 11:05

Like the rest I have no idea what will appear in the AD but what will enliven the share price will be the drill results !

[1alfi] 29/8/2017 09:06

Just trying to gain some perspective of the economics of it balanced against the potential value of Sirius's assets drrichard. Keep coming back to that 60,000 bopd envisaged in the Glencore deal.

500,000 / 60,000 = approx 8.5 days - now that is a figure that is more likely to attract the likes of BP, COSL Schlumberger. Would BP be willing to wait over 2 months for a 500,000 barrel consignment of oil?, I don't know the oil industry well enough to answer that question.

[6cer] 29/8/2017 08:58

So what has happened to all the oil money that has accrued?

[drrichard] 29/8/2017 08:39

That I do no know 1Alfie, but I suspect it is in Tidewater's remit to source it?
It is hinted at in the CPR Sept 16, last page where they talk about a barge to start with and then,,,upgraded to take the greater volumes produced

[1alfi] 29/8/2017 08:34

At what cost to contain 500,000 barrels of oil drrichard ?

[drrichard] 29/8/2017 08:22

FPSO 1Alfie

[1alfi] 29/8/2017 08:08

Just a passing thought. We have drilled Ororo and oil is flowing - what happens to that oil ?

RNS - 10/10/2011 - “The Ororo-1 well tested at c. 2,200 barrels of oil per day ("bopd") from a single zone, and ca 600 bopd from another;”

RNS - 14/8/2017 - “scheduled to be lifted in 500,000 barrel parcels or more”

So let’s take the bottom line equation using Chevron’s original evaluation of 2,800 bopd

500,000 / 2,800 bopd = approx 179 days or 6 months

When we have 3 wells in operation (how long to drill two further wells ?) we will reduce that time span to 1/3rd of 6 months ie 2 months

Therefore, in conclusion, we are going have to contain our oil from somewhere between 2 - 6 months.

How will we contain that oil and how much will it cost for that containment ?

[oakville] 29/8/2017 05:09

Going away for a week so no doubt the news will be released !!! Lol

[cautoussid] 29/8/2017 00:39

drrichard ,1alfi,bumhammer ,thanks for posts ,only looking in and replying again , with this share look to have timed my buying in well as i posted previously after researching and feel thankful to the different helpful posters who have contributed so much to this share board
htrocka2
found your links and research helpful and hope you keep posting
personly still researching and want to buy more shares when trading starts again
as have not built up holding enough yet

[bronislav] 28/8/2017 22:19

Tongue in cheek htrocka.trying to inject a bit of fun on this long drawn out saga.We can speculate,throw prices in the mix,put link after link on but it means nothing,nobody has called it right yet ,I certainly havent so until that share price hits the spot we might as well shut up shop and chill out.

[xerot] 28/8/2017 21:17

Well said bron them links are bad news. About as exciting as going to the dentist.

[drrichard] 28/8/2017 20:44

Don't go Ht. I like your posts and most are not O/T but very interesting background reading

[htrocka2] 28/8/2017 20:16

cheers bron....comments like that help to explain why poster such as Sher10ck and Rosso have been driven underground...no need to wait for any conclusions, I'll join them and leave the thread in your hands. I'd just like to leave you with one comment.....you can't drill a well without a rig.

[aventador] 28/8/2017 20:10

No one reads them lol

[bronislav] 28/8/2017 19:37

Cant wait for this to conclude,not the money thats going to float my boat but the realisation that htrocka.s almost legendary links will be in the dark closet of history.

[htrocka2] 28/8/2017 08:55

o/t (some weekend reading)


Talking of the Saudi's.... we where within a hairs whisker of indirectly being suck up by the Saudis.....but kept out by the skin of our teeth through the BoDs perception.....nevertheless, we have assets (that BP are now taking an interest in) that Glencore viewed and accepted 900m warrants for.(later amended).... the deal must have been nearly over the line to have reached the warrant acceptance stage.

[htrocka2] 27/8/2017 23:10

'But we have no idea how much debt is ahead of us with srsp, and no idea what the poo will be in say 5 yrs...'


You lads are worrying about a problem of your own creation....history is usually a good predictor and indicator of future events..... How much debt do they carry now?, have they not been prudent with cash flow for the past six years? We don't know the full extent of the BP package. Bobo did mention 'Reserve Base Lending'...but that was before BP came on the scene. The Glencore and Nima abortive deals indicates that the Bod have a sense of perspective and recognise a poor deal.... don't forget, we're currently run by Bankers, who are well aware of the consequences of too much debt. Don't worry about five years time...this will be gone, just enjoy the ride of the next five months.

As for as the price of poo is concerned...I mentioned earlier that the Saudis' are floating off 5% of Aramco next year, the biggest IPO in British history...and said they're looking for $60 a barrel...it's currently above $52...and I'm sure the Saudis will make it happen.

[vatnabrekk] 27/8/2017 20:26

BP 3.3M boe/d. Mcap 92.1B
Shell 3.9M boe/d. Mcap 201.5B
PMO 82k boe/d. Mcap 319M
Enquest 30k boe/d Mcap 371M

The relationship between production rate and Mcap varies considerably from company to company, depending upon the level of debt amongst other things.

[pgtops] 27/8/2017 20:00

But we have no idea how much debt is ahead of us with srsp, and no idea what the poo will be in say 5 yrs! At least we should be certain we won't be buying fields in northern Iraq as per afren.

[htrocka2] 27/8/2017 19:52

I wouldn't compare SRSP with AFREN...Afren carried too much debt, expanded too fast when oil was $140 a barrel, signed up large covenants at $100 a barrel....then the price of oil dropped through the floor followed by defaults on loans......and in came the carpet baggers.

[pgtops] 27/8/2017 18:29

Any idea of the mc of afren when they were producing c30k bopd in Nigeria, think they had plenty of debt though!

[deadly nightshade] 27/8/2017 17:30

well lets just say if this comes back at 1p there would be a lot of us folk wondering what the hell this has all been about after all these years of waiting. so for that matter alone we will on paper need at least 2p-3p short term just as a miniumn to get this ball rolling. we have also got to hope that the market buys into what we hopefully have here, a lot of companies are a bit like marmite in the sense that investors either love them or hate them. there are multiple oil companies sitting with low valuations with very little pi interest in their current share prices. ukog is a share that investors have really grown a interest in and the sort of rush there is what we need here. the main thing we need here is to get these "assets" into production asap and get that cash rolling in for the oil and gas, that way our share price can only go one way and thats up!! the profit is there and so are the tax advantages for srsp they just need to be exploited as fast as possible by drilling these wells

[bumhammer] 27/8/2017 15:33

6cer, the caveat is how long folk are prepared to wait for 50p+
It's taken what feels like eternity to get to this suspension!

How long do you think this would take to get to £2BN MCAP?

[6cer] 27/8/2017 13:08

Well done htrocka2 - you have confirmed what I have been going on about for ages 50p+ per share.