Sirius Petroleum Share Discussion Threads

[fishandchips2] 14/10/2017 19:45

I’m in the takeover camp. Just hurry up.

[deadly nightshade] 14/10/2017 19:32

bron you sound like you are in the takeover camp too mate??

[bronislav] 14/10/2017 18:37

Platforms..better still ht...you get my point though.
To trigger the offtake ten million we dont need gas ,to get the other assets tied up we need the ten million.SO TO CUT TO THE CHASE WE ONLY NEED TO SHOW THAT WE ARE FLOWING CRUDE FROM ORORO AND BINGO.

[vatnabrekk] 14/10/2017 17:51

I believe that in order to produce and sell gas it is a requirement to drill three holes.

[htrocka2] 14/10/2017 16:44

platforms ...(plural)

[bronislav] 14/10/2017 13:18

Drilling three wells and installing a platform would need different approval to drilling an appraisal...

[htrocka2] 14/10/2017 12:36

'

Guarantee Petroleum, one of Sirius' local partners in the Ororo Field, has received approval to drill the proposed Ororo-2A well on the Ororo Field ("Approval") from the Department of Petroleum Resources ("DPR") in Nigeria. The Ororo-2A well is Sirius' first appraisal well in the Ororo Field,...'


nine months later...
The Company is pleased to announce that approval has been granted by the Federal Ministry of Environment regarding the Environmental Impact Assessment ("EIA") which covers the drilling of 3 wells on the Ororo Field and the installation of wellhead platforms


The Ororo2A drilling approval was given but never used and lapsed. The above indicates that it was a single well, to which the Chairman of Guarantee Petroleum said, 'we look forward to first oil'.....(No mention of gas)...Later, SRSP were awarded an updated licence...that included provision for gas.....with the drilling of three wells.....Possibly one of the reasons for the delay is that these changes seem to be continually ongoing and require upgrading.

[1alfi] 14/10/2017 10:45

Bron - "ORORO2A was in fact a reality."

Could we have satisfied the licence renewel obligations without it being a reality ?

[vatnabrekk] 14/10/2017 10:03

In that case, depending upon the amount of pre-drilling work involved and how long it might take, we may not be losing much time, if any, waiting on the issue of the AD?

[htrocka2] 14/10/2017 09:35

I've absolutely no doubt that subsidiaries, such as Sirius Taglient, are working 24/7 on SRSP projects...




(apparently, there's a 'pre-drilling' programme that has to be completed first))

[vatnabrekk] 14/10/2017 09:33

Accepting that SRSP cannot produce oil until after the changes to the company that need to be passed at the GM, could they nevertheless be carrying out preparatory work in the meantime so that when following the AD and the GM it would be straight into production? In other words, getting the wellhead etc. in place?

Just a thought.

[htrocka2] 14/10/2017 08:58

'2 months go by. $30m in lost production. Seemingly no urgency to move the rig into location in order to commence drilling'

It certainly is tight, the closer this gets towards the year's end with no rig movement possibly suggests that they could be in take over talks and the rig is on the 'back burner' and may end up not being SRSP's problem as a potential buyer may have rigs of their own. As some one suggested to me..the chairman must be about 75 years old now....does he really want to carry on for another five years without a pay out on his 25m shares plus options?


('deadly..' San Leon were suspended for not filing their accounts and had money issues, they've since been paid $7m from money owed)

[bronislav] 14/10/2017 06:35

No urgency to drill and the BP deal and everything else is dependent on ororo flowing oil .even one bopd would qualify as flowing oil.logic says ORORO1 re-entered or ORORO2A was in fact a reality.

[deadly nightshade] 14/10/2017 05:10

when san leon suspended that took months to relist and that was only over a tiny percentage of a oil field. when it did relist what happened to the share price in the following year was pathetic. hopefully this will fair a lot better, still hope we get bought out though, like the doc says there is not urgency here with the rig and that has got to make you wonder.

[dr rosso] 14/10/2017 02:12

2 months go by. $30m in lost production. Seemingly no urgency to move the rig into location in order to commence drilling.

[bumhammer] 13/10/2017 21:39

lol, take one for the team Xerot.
Adven is a sick individual.
Your ordeal will soon be over..

[xerot] 13/10/2017 20:31

You got me pal he is doing unspeakable things lol

[vatnabrekk] 13/10/2017 17:44

My robot is raring to go!

[aventador] 13/10/2017 17:42

We'll be driven around in electric flying drones by robots the time this lot get first oil ha.

[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