Sirius Petroleum Share Discussion Threads

[solarno lopez] 13/10/2017 17:26

69.8% of oil production is used in transportation

[astralvision] 13/10/2017 17:23

and gas seems a very important part of the SRSP mix going forwards, gas is going to be in big demand for many years to come.

[vatnabrekk] 13/10/2017 17:14

Re cnbc: How many long-term economic forecasts are ever anywhere near accurate? Precious few.
Anyway, it's not as if all cars are going to go electric overnight. And the oil price can never go below the lowest cost of producing it.
We should also remember that until renewable energy catches up, we still need oil to produce the electricity that will be used to charge the electric cars. So if all cars suddenly turned electric overnight, we would probably need to almost double the amount of electricity to be produced by the grid, hence almost double the amount of oil to drive the generators.

[swiz73] 13/10/2017 17:09

Hi Aventador...4 years now. At least there is light at the end of a extremely long & very dark tunnel. C'mon BOD, do the right thing.... :-D

[qprallan] 13/10/2017 15:11

I hope this chap is wrong:
www.cnbc.com/2017/10/13/oil-will-crash-to-10-a-barrel-with-electric-vehicle-revolution-strategist-says.html

[bronislav] 13/10/2017 15:10

Ht.why no urgency to drill if schlumberger are pulling at the leash and cosl and add have men and equipment sat idle .how much are cosl losing on the cosl power with it being stacked.

[bronislav] 13/10/2017 15:10

Ht.why no urgency to drill if schlumberger are pulling at the leash and cosl and add have men and equipment sat idle .how much are cosl losing on the cosl power with it being stacked.

[htrocka2] 13/10/2017 14:42

Cheers minichris....at least we're singing from the same hymn sheet...with a vast improvement on Rocklow's number.



A Mid Case Net Present Value (NPV10) of the asset (Ororo) of $49.2m, based on a $50 per barrel flat real oil price for life of field.

The point being that the increased gas in the ground valuation must effect the price of Ororo, hence the srsp share price in the event of a sale further down the line.

[minichris] 13/10/2017 14:03

HT, the issue being the maths is flawed.

If you work out the value of the gas at $3.5 per mscf and compare it to the value of the converted boe at $50 you get a very different number.

When referencing boe this is usually for its energy output and not its value.
The gas is valued at $147,000,000 when done per mscf

With regard to the differing CPR values.... I'm stumped. Rockflow predict a 3rd of the gas that Schlumb estimated.

Edit - Changed the gas value to net, its easier to see where the NPV comes from then.

[htrocka2] 13/10/2017 13:42

ref minichris...in essence.. Schlumberger estimated in 2013 that there was 334Bscf of recoverable gas in Ororo. Rockflow equates 5800 cubic feet of gas to one barrel of oil...The bottom line being that Ororo' gas, when converted to oil eqivelent comes to about 57m barrels of oil....at $50 a barrel is $2.85 bn for the gas alone for the life of the field and that's only for the gas. Rockflow have given estimates of about $44m for the life of the field that includes both oil and gas. It's all in black and white...and Schlumberger seem more than keen to get in and get started.

[bronislav] 13/10/2017 13:20

Ht.its clear the cpr is not for our benefit.I think its safe to say we wont get much in the way of significant revelations until its all over and even then we might not be enlightened...all we need to know is how much.

[minichris] 13/10/2017 10:29

What are you getting at HT?
I dont quite follow what your trying to explain.

[htrocka2] 13/10/2017 09:54

I've had this nagging feeling for some time now and can't quite put my finger on the problem. I'm quite prepared for a load of 'red thumbs' if wrong...but here goes.
Rockflow themselves stated that their CPR was prepared for 'potential funders' and gave a mid case life time value for Ororo of $42.9m (all in for both gas and oil). Taking a look at Schlumberger's later estimates for gas of between 276.9-390.66 Bscf (average being 334Bscf) of recoverable gas, dividing the number by the oil equivalent of 5,800 cubic feet of gas per barrel of oil equates to nearly 58m barrels of oil.....at the Rockflow CPR oil price estimate of $50 a barrel of oil is.......and that's only for the gas. (Also bare in mind that the Gaffney CPR has yet to be released).

(Again, if wrong, please accept my apologies)



Sirius announces that independent petroleum consultants, Rockflow Resources Limited ("Rockflow"), have produced a Competent Person's Report ("CPR") for the Ororo Field. This valuation, subsequent to the technical volumetric description announced on 22(nd) April 2016, was commissioned to assist the Company with potential funding and vendor finance proposals.

-- A Mid Case Net Present Value (NPV10) of the asset of $49.2m, based on a $50 per barrel flat real oil price for life of field

Rockflow evaluated Ororo at a base reference oil price of US$50 per barrel and a gas price of US$3.50/Mscf (real terms flat)


Gas BOE conversion factor: 1 barrel of oil equivalent = 5800 cu ft gas

[htrocka2] 13/10/2017 08:30

Oil climbing again..

[bumhammer] 13/10/2017 07:37

Sherlock is a bit like the Batman. I'm sure a couple of folk know where to find him when in need.

[deadly nightshade] 13/10/2017 07:18

its a shame sherlock does not post on here anymore, our loss now thanks to some peoples agenda's.

[1sonic] 13/10/2017 02:06

Show us the money!!!!!

[6cer] 12/10/2017 23:44

I'm still in the 50p + club.

[astralvision] 12/10/2017 23:15

Re possible share price prices, I can't think of anyone better qualified (imo) than Sherl0ck , who, on the subject, posted the following, before the BP deal was finalised:

68912
Astralvision - it's admittedly a nice round number I've plucked out and I do think it's both fairly conservative & fully achievable based on the scale of what we may be involved in. For guidance it's within the oft-talked about 10-20p range but I certainly reserve the right to adjust my expectations as more info becomes available!

68915
6cer - my initial MINIMUM ROI target isn't necessarily a sell price or the max I think we can achieve. As more info becomes available I may adjust this. Just felt it was more realistic & grounded to limit our mcap this side of £1bn for now as there's still so much we don't yet know. If our potential to substantially exceed this becomes clearer then all the better.

[deadly nightshade] 12/10/2017 21:41

when we get the ad will the shares start trading straight away on the same day or will we have to wait for the egm vote?

[bumhammer] 12/10/2017 21:25

Funny.. Nobody's asking you though Jamie are they?I'd say a relist around the same price that Astral suggests and his follow up rises seem realistic. I'm not writing off a complete takeover out the blue though either.

[xerot] 12/10/2017 21:07

Bumhammer is still looking for his laptop on wheels