Sirius Petroleum Share Discussion Threads

[xerot] 03/12/2017 20:20

Sirius never took over that name, we took the name from GGT so would have nothing to do with the previous company so it's still not correct. Global gaming and Paul Pollinger crew we in on this before the dawns of time.

[pipelinepete] 03/12/2017 19:55

They could call it losers gaming for all I care - it won't stop the company finally announcing their pipeline of assets in the coming weeks and months I'm sure.

[rod99] 03/12/2017 19:34

The question is as an investor who I presume wants to see a return on your investment you think now is a good time to bring that up on a public board. If you want the question answered so much email him or jump on a plane and see him in person tomorrow.

[dr rosso] 03/12/2017 19:31

Q for 2moro to CFO-to-be MH. "Why, as Westhouse O&G analyst, did you write 2 broker reports on Sirius (Nov 2014, Jan 2015) which were factually incorrect nonsense, indeed total guff?"

[xerot] 03/12/2017 18:26

no it wasn't it was global gaming technology

[anointedone] 03/12/2017 18:24

Ironic the former name of the company was aptly entitled "Fantasy Gaming". :)

[twentysixpointtwo] 03/12/2017 17:21

Agreed. Never been more confident than now. All the talk over the years of infinite riches by the week after next have proved to be utter garbage. But at last we have something of substance FROM THE COMPANY. Roll on the next few months.

[deadly nightshade] 03/12/2017 17:09

After all these years of slow progress the next 12 weeks are going to be a exciting time with a lot to pack in. it was rather nice the other morning waking upto 5 rns's

[doug51] 03/12/2017 15:54

Tony if the directors gain then we all gain?

[pipelinepete] 03/12/2017 15:52

Previous rnsSirius has been in discussions with regards to participation in a significant oil block. This asset has significant 2P reserves and existing wells have been drilledAdmission documentThe company is in active discussions to farm into near term producing assets leveraging its commercial agreements with its partners.Becoming an official operating company after the GM surely triggers a number of things, not just the rig delivery and kick start to the ororo project drill campaign.I'm expecting to feel dizzy with trying to keep up with the news flow on multiple fronts. It benefits all parties to move quickly.

[dr rosso] 03/12/2017 14:21

Not considered such until drilled and tested. Sirius is by no means a traditional normal O&G Co. It was set up to aid Ondo State attract financial and technical partners into Ondo's O&G main undeveloped assets. To me it looks like a transitional entity which will be taken out completely once those bigger assets are brought into production. Ororo is the juicy sprat to catch the mackerel.

(a sprat to catch a mackerel - a small outlay or risk ventured in the hope of a significant return.)

[dr rosso] 03/12/2017 13:42

No, I don't ever see this Co. becoming the Operator of anything. You can hardly call the new BoD a "production" team, either. There's a much bigger partner waiting in the wings, but I do think things are going to have to wait until April, at which point the Ororo asset becomes 2P and acts as collateral for the incoming group. Might be worth checking out who REYL is linked with in the Far East (Fletcher/Kejriwal of Juniper will have done the groundwork over there, for which 70m shares were issued as fees.)
The Reyl Group manages more than 10 billion Swiss francs ($10.4 billion) and employs 175 people.

[pipelinepete] 03/12/2017 13:21

I see the ororo field as the initial gateway to becoming an operating company, now that's been achieved, I'm hoping for the company to move swiftly into other Nigerian opportunities that they have worked on over the last 5 years plus. The gm is a significant date in that regard. One by one building a proven portfolio using the current finance set up.

[htrocka2] 03/12/2017 12:59

I've no doubt that partners are in the offing for 241,etc at a later date but it seems that in view of the fact that the board is being filled with ex Afren directors that this is the road they're currently going down...





Afren' (at the death...expanded too fast, the oil price dropped, with £1.7bn of debt and £400m missing from 'the till'....yet once valued at over £1bn...over £1 per share and the only oil being produced was 22,000 barrels p/d and no gas mentioned)

'The Group is currently producing circa 22,000 barrels (3,500 m3) of oil equivalent per day from its current portfolio.[17]

Okoro Setu Fields (OML 112)

The Okoro Field ("Okoro") and Setu Field ("Setu") are two oil fields located in OML 112 in shallow water offshore Nigeria, which were originally awarded to Amni - a well established indigenous oil company - in 1993 as part of the Nigerian government's indigenous licensing programme. First oil was achieved during June 2008 when production from the first two production wells drilled commenced at a rate in excess of 3,000 barrels (480 m3) of oil per day from each well. A further five wells were subsequently drilled, completed and brought onstream. The wells drilled were a mixture of horizontal and highly deviated penetrations of the reservoir intervals. The field is currently producing at a rate of 22,000 bbl/d (3,500 m3/d) from all seven wells.[18

[pipelinepete] 03/12/2017 12:58

Dr Rosso now the joa and the consortium is set up, do you honestly think they are going to sit and wait for the drilling of a marginal in 5 months before they move into other assets and begin work in the same fashion as they have with ororo? Or do you think a copy and paste on each asset one by one a lot sooner?

[dr rosso] 03/12/2017 12:18

Yes, HT, momentum aided by regular newsflow looks to be the name of the game now that the shareholders are seated. Co. will no doubt be busy already with plans to bring in a partner to farm in on Block 241. That seems scheduled for April 2018, by which time they'll have penetrated 500 ft into H-K and proven up a whole load of 2P, ie D-K. That's in addition to the initial production focus which is oil coming from D3 and G. At that point the FFD plan kicks in on a derisked field, REYL puts $100m on the table, and Partner 4 arrives on the scene.

Who's it likely to be? Look over at coastal developments, in particular Lekki, where big gas will be in considerable demand going into 2019. With the $80bn investment programme agreed between Nigeria and China, it's a pretty safe bet as to the origins of the farmee, working with COSL's Power rig. I suspect whoever's coming in has deep pockets to the tune of a consortium-backed $400m, and is already working on gas fields deeper offshore in the Delta and nearby basins.

April 2018 is the time when this venture really gets into its stride. Sp 5p target on big pic revelations, imo. . Mcap £200m on 4bn shares looks doable. 1p for sure is going to look ridiculous

[pipelinepete] 03/12/2017 09:57

I think a lot more news is on its way