Sirius Petroleum Share Discussion Threads

[kwizza] 30/11/2017 22:46

FG Sets Bid Round Guidelines for Award of 46 Marginal Oil Fields  
September 18, 2017

[cornishtrader1000] 30/11/2017 22:01

I firmly believe today has been a monumental day for Sirius. The massive dilution was always going to hit the Share Price, when folk digest the AD, I'm sure we'll be north of the re-admittance price.

[htrocka3] 30/11/2017 22:01

'all those new directors on board for a piddly 2700 barrels a day....'

One has to remember that the Ororo production estimates of 2700 barrels a day are based on Rockflow projections at $50 a barrel, however, the current price of oil is above $63 a barrel therefore this would equate to (63 divided by 50 multiplied by 2700)thereby increasing the 2700 number potentially to 3402 barrels per day equivalent.( 2700X$63=3402X $50)

[deadly nightshade] 30/11/2017 21:59

cornish i also like the bit on the rns when all those big names were mentioned regarding further possible farm ins and near production assets. this could be like a chain reaction once ororo is flowing

[deadly nightshade] 30/11/2017 21:56

i know folk were saying earlier about the time frames but remember the rig can't move till this is all voted through at gm/agm end of december, add on 2 months to get there and set up rig then march timeframe fits in well.

[cornishtrader1000] 30/11/2017 21:54

Deadly, previously I would agree regarding Ororo. But with the Swiss £100M we're now a different beast.

[deadly nightshade] 30/11/2017 21:47

You get the impression its all down to getting ororo flowing and cash positive then hopefully everything else will follow on. considering that these shares are already placed and cash raised then surely when they hit the market then it should hopefully be onwards and upward, as correct me if i am wrong there will not be a overhang to clear if these shares are going to be held onto by the folk who have bought in and are hopefully looking for a decent return on their 1p a share outlay. anyone buying in today would be buying in at a better price then the placed shares so now we have got the sellers out the way we can hopefully get some upwards direction on the share price. i see malcy said in his blog today he is looking to get in touch with sirius for some news so hopefully we may get some more snippets there. plus we got a AGM coming up so folk will be able to get a insight on what we have to look forward to in the new year

[stbilow] 30/11/2017 21:29

Today’s news as well as could be expected but still a kick in the balls to all long term investors who have kept the company lights on all these years!

[xerot] 30/11/2017 21:21

all those new directors on board for a piddly 2700 barrels a day. lol yeah right. this is gonna be huge

[dr rosso] 30/11/2017 21:10

A very cautious, conservative review of the Ororo zones has been provided, several of which have never been tested.
Ask yourself why they are deploying an ultra-sophisticated HPHT $90k per day rig, with Schlumberger and ADD technicians on board. Think sub-G for Ororo, then onto Block 241. Neither get a mention in the AD, yet we know that Schlumberger was given all the data.

Can't help noticing the number of insider worthies very much involved with this venture. In for 2700bopd, my ass.

[vatnabrekk] 30/11/2017 20:42

I like this bit:
"... involving the drilling of up to four further wells and the installation of permanent production, processing and pipeline facilities at the Field."

[astralvision] 30/11/2017 19:53

Mind you UKOG looks ridiculously over priced , imo, on what I admit is a fairly cursory look.Doesn't alter the fact the SRSP is looking ridiculously under priced. Fully funded, world class partners operating in one of the premier oil regions in the world. Sp should go on a really good run, imo.

[htrocka3] 30/11/2017 19:31

ref 'the truth teller'..... you're obviously not tracking contemporaries in the oil and gas sector....UKOG for instance, produces 1365 barrels of oil a day, has 3.65bn shares in issue and an share price of 3.73p....that's over 1p for every billion shares in issue.... ORORO is expected to produce twice that amount of oil.

[pipelinepete] 30/11/2017 19:28

Looking good to me :)

[minichris] 30/11/2017 19:26

So, why make it a bid round when you already have a preferred bidder? Makes it look very corrupt. Why not just be honest and say we want these guys for x, y and z reasons?

[cornishtrader1000] 30/11/2017 19:23

You'd thing we'd be looked upon favourably in any bid when our partners include BP, Schlumberger, Add, Havoc and Swiss funding.

[the truth teller] 30/11/2017 19:07

You won’t see over a penny for a long long time considering the amount of shares floating around. In fact your lucky to see a penny.

All these years and your reward is dilution

[astralvision] 30/11/2017 19:03

Ok, think I understand it now.To activate the BP deal they need 2,500 bod on average. Ororo2 expected to flow at 2,700 boed, ie oil plus gas. If you take the gas bit away, then Ororo is not expected to do 2,500 bod. I guess everyone always new this anyway.

[twentysixpointtwo] 30/11/2017 18:49

Understood DrR, so if the 100 million is to develop the project and he said that in the podcast, then where does the money for a potential bid round come from? Or is it a case of bid now pay later ?

[astralvision] 30/11/2017 18:47

Think it says high probability that it won't flow enough, just have to wait and see, don't see it as a big problem either way.

[minichris] 30/11/2017 18:45

Astral, it says Ororo 2 wont flow enough. It references Ororo 1 originally flowing more than needed however O1 wont flow again.

[drrichard] 30/11/2017 18:42

Twentysixpointtwo Bobo said that that the BP underwriting deal was the collateral for the 100mill to develop the project. That is very serious money. No wonder we had to provide seed money to get things moving,
I suspect we have a lot to do to prepare for the rig, and only three months to do it.

[drrichard] 30/11/2017 18:38

Astravision your excellent summary of Bobo’s did not mention that the JOA ceded operational control of the whole project to SRSP. Nice.

[astralvision] 30/11/2017 18:37

Re BP, page 178 and 179 is worth reading, it includes the amendment made to the deal on November 3rd.Reads to me if Ororo exceeds the expected 2,700 bod then the prepayments will be actionable, all reads fine to me. There seems to be sensible alternatives for SRSP in there.