Sirius Petroleum Share Discussion Threads

[bronislav] 07/9/2017 09:16

Difficult to put a figure on ororo without an appraisal,without an appraisal it is a little confusing as to why we had the top notch numbers man simon hawkins on board .I would suspect that the AD must have been largely intact given the only new imformation to add to it concerned BP,everything else would have ben known in my view.

[htrocka2] 07/9/2017 09:11

'Htrocka.I think it may be folly to underestimate the potential of ororo ..'


'Marginal fields are fields capable of producing less than 10,000 bpd..'


I'm not diminishing the value of Ororo as the company have their agenda...for instance, the Rockflow CPR managed to ascertain a production rate of circa 10310 bobpe. A Marginal field is classified as producing 10,000 bopde or under...the conclusion being that in view the fact that Ororo will, hopefully, produce in excess of this number.....may have to be reclassified, hence re-evaluated in a potential sale or take over scenario.

[solarno lopez] 07/9/2017 09:03

well we are now up to the 3 week deadline a time when some expected the AD to be in investors hands ........

As I and others have said ADs take time to produce and certainly much longer than three weeks.

So sit back relax and enjoy life without the daily chatter of SRSP and its purported many facets !

[htrocka2] 06/9/2017 14:33

The Germans are after West Nigerian gas now....

[drrichard] 06/9/2017 11:27

Brent crude is sneaking slowly towards $54. Nice.
Update: just gone through $54.

[dr rosso] 06/9/2017 10:41

241 is this one. Previously known as OML97. It will revert back again from OPL to OML status as soon as drilling starts.


Proposed Second Block

Sirius is also pleased to announce that it has signed a confidentiality and exclusivity agreement to assess whether to acquire an interest in a second Oil Block located in the shallow waters of the Niger Delta Basin on Nigeria's continental shelf (the "Second Oil Block"). This asset exhibits a number of compelling characteristics, including existing wells which have exciting appraisal and exploration potential. Further announcements will be made in due course with regard to the Second Oil Block

[vatnabrekk] 06/9/2017 10:18

Not only that, but 241 doesn't seem to fit the description of the "Block" in terms of water depth or distance offshore.

[htrocka2] 06/9/2017 10:07

Dr,The only problem is that 241 is currently an OPL.

[dr rosso] 06/9/2017 09:24

Ororo when eventually fully revealed at 100mmb is a fat sprat among a dish of other juicy outlying side dishes in 95. The main course is Block 241, whilst pudding is whatever else NewCo chooses to acquire.

[bronislav] 05/9/2017 19:18

Htrocka.I think it may be folly to underestimate the potential of ororo and it is pivotal to the plan in my view.ororo has always been seen as a side dish but 12 zones and those deeper sands may prove to be huge.with ororo, in the subsidiary (oml95) and the old BTG deal mentioning the marketing of petroleum products wholly owned ,partially or not owned at all by sirius suggests we are involved in the collection of gas from other fields in particular on oml95.How many companys would welcome the collection of flared gas and with Dabgoes twister technology it may go a long way to solving the gas flaring problem.The twister technology may be something that will become widely used throughout nigerias oil industry although it does not necessarily mean we are linked with Dangote but just his technology ..Dangote snapping up twister could prove to be a shrewd move from the billionaire.

[vatnabrekk] 05/9/2017 18:13

Yes HT, I remember reading that recently when I was doing some "revision". That description doesn't sound like 241 to me.

[htrocka2] 05/9/2017 17:34

'Interesting that the COSL Power sophisticated super-jackup has a minimum working water depth of 30 feet yet the shallow offshore Ororo field sits in just 8 metres of water.'

DR...Over the years we've said many times in the past that Ororo is a 'sprat to catch a mackrel' The 'Big One' for SRSP is Block 1. (note the water depth)


'......the Company will work with its partners, to put both the Ororo Field and the Oil Block into production, as soon as is practicable.'


Update on Recent Developments

Sirius has entered into a pre-farm-in agreement in respect of an Oil Block (the "Block") located in the offshore Niger Delta Basin (the "Agreement"). Existing 2D seismic and an existing third party expert report indicates in excess
of 1 billion barrels of prospective resources in the Block. In accordance with the terms of the Agreement, which at this stage is subject to a confidentiality clause with the farmor, Sirius has been granted exclusivity during which it will engage an appropriately qualified, independent expert to complete a Competent Person's Report ("CPR") to further assess the prospective resource, which will form an important element of the Company's decision-making process with regard to entering into a binding farm-in agreement, a decision which is at the Company's sole discretion.

Summary of the Block

-- 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

[astralvision] 05/9/2017 16:27

Yeas, depends if tide is in or out. LOL!

[vatnabrekk] 05/9/2017 16:24

I'm sure there will be a bit of flexibility in those figures Dr.R.

[dr rosso] 05/9/2017 14:22

Interesting that the COSL Power sophisticated super-jackup has a minimum working water depth of 30 feet yet the shallow offshore Ororo field sits in just 8 metres of water.

[shez20] 05/9/2017 13:41

You have never even been ridden!!! When all is revealed I think we should all chip in and get this virgin laid! Time to sit back and wait for the ad doc! I personally see it as a plus if this takes a while longer!

[wiserthanyou] 05/9/2017 12:54

full account of proof of this 100% loss

Look at your trading account,that will tell you..
lol

[bumhammer] 05/9/2017 11:58

Wiserthanyou - Can you give us all a full account of proof of this 100% loss..

If not, then you can be classed 100% clueless troll.

[1sonic] 05/9/2017 11:30

Wiser - move on you saddo..... I could understand if this was trading and not in a "TEMPORARY" suspension. You trying to de ramp whilst in a "TEMPORARY" suspension, the other option is that you've lost money on this share and sold out and now you're bitter and twisted.... Another option is that you had a short on this and you're going to lose a shed load. ;(

[wiserthanyou] 05/9/2017 11:19

Wonder when this board will accept the 100% loss?

[minichris] 05/9/2017 10:39

Re: seabed survey, I'm going to throw my opinion in -

I "think" that the survey can be used for 6 months or more depending on the subsea geology for the area.


a) depth, in our case, is the water deep enough for our rig. (there are more factors in this, 100 year waves etc, however I think due to depth none are relevant)
b) strength, is the sea bed strong enough to support the rig.
c) obstacles, can the rig be towed on an optimal path to the site and jacked up without hitting pipes/wrecks or dumped shopping trolleys.
d) currents, are there significant water currents that can change the seabed over a short time. (again, dont think so)

Its speculation, but I feel that the results of the survey mean the relative safety of the area is guaranteed for quite some time. Its a well mapped and worked area, its not a new realm or a wild card.
However, the only people calling the shots will be the insurance company for the rig.

[aventador] 05/9/2017 09:52

Hard to call this one all down to the ad doc, will we be producing this year or into next year, will they announce more assets would hope so and we relist higher, but can see most lths still being here into the new year, which will be ok if we are finally back in profit on relist or the not so distant future.