Sirius Petroleum Share Discussion Threads

[drrichard] 15/1/2018 21:11

looks like they have a lot to do in two months, then DrR.

[undervalued companies] 15/1/2018 20:59

What's the oil field called 6km away that. Looks like being the acqusition mentioned on presentation ?

[dr rosso] 15/1/2018 20:30

Acc to AD, the initial work prog was meant to have been completed by 60 days from the August signing of the JOA. Included within that IWP was pipeline route and details of rig mobzn to site. $3m was due to be paid to COSL at least 60 days prior to rig being mobilised. Logic dictates that the $3m was handed over during the signing of the JOA.

No announcement as to $3m paid, no announcement as to pipeline or other activity such as platform installation, no announcement of the rig mobzn date. Yet O2 drilling is confirmed for March.


"Within 60 business days of the date of the Ororo JOA, Sirius Ororo, with reasonable support of Guarantee and the other parties where required, is to deliver to the operating committee a proposed work program and budget for the following joint operations:
(a) obtaining a suitable drilling rig in a timely manner;
(b) obtaining appropriate access to drilling sites in the Ororo Field;
(c) obtaining necessary approvals and authorisations from the Government, Chevron andNNPC, as may be required in relation to the work program; and
(d) the acceptance of all conditions and/or revisions proposed by the Government, Chevron and/or NNPC with respect to the work program.

Initial work program is to comprise the following operations:
(a) pipeline route and other activities required for rig move to site;
(b) rig mobilization to site;
(c) the drilling of a new well, flow testing and completion of the Ororo 2 well;
(d) valuation of the data obtained from well test(s); and
(e) development of a Field Development Plan.

[1sonic] 15/1/2018 19:23

We all know what’s going down just these trading days get boring!

Get the news out!

Still under a penny and still under the radar.

Bobo Kuti likes it.

When news strikes he’s got 180 million options at a penny!

5p and but at a penny... nice work!!

Options at 2p and price at 5p

Boooom

[qprallan] 15/1/2018 19:20

" We know there is a jack up rig in the area"

Which one is that UC ? We have been told that it will be the COSL Power

[undervalued companies] 15/1/2018 19:12

I don't think it's just Twitter we know from CEO looking to sign a rig and acquisition mentioned in last presentation.

Personally think all is coming into place at last. We know there is a jack up rig in the area.

[drrichard] 15/1/2018 16:14

I have! Brent crude went through $70, briefly, again, this afternoon. Currently hovering a whisker below. Nice!
Higher oil makes my petrol more expensive and adds to inflation but, if it makes this baby more profitable, then on balance-bring it on!

[handygandhi] 15/1/2018 16:08

Εγώ είμαι

[pipelinepete] 15/1/2018 15:57

Someone's building a nice holding

[twentysixpointtwo] 15/1/2018 14:40

Hmm...do you think they’ve got an agenda by any chance ?

[theblackbaron] 15/1/2018 14:38

Lots of comments on twitter from peeps about a rig and next door oil field acquisition

[aventador] 15/1/2018 12:06

Fingers crossed Astral thanks :)

Hopefully we will see a couple of strong weeks coming up here anyhow volumes been on the increase and now spreadex have stopped dumping we may see more news on the way.

Watch this space as always!

[astralvision] 15/1/2018 11:50

Aventador
Pleased to hear you've averaged down, I don't think you're going to have any problem getting to your b/even point, there should be a very healthy profit here for you and all of us as well.

[aventador] 15/1/2018 11:47

Yep I'v averaged down many times over the years and bought a few more recently after the 1p placing but still need a 100%+ plus rise to see break even.

No point going over same old same old end of the day if we see a decent rise this year and they actually produce then we should all finally be happy and see some kind of profit.

Onwards and upwards looks like we may have now bottomed anyway.

[6cer] 15/1/2018 11:28

If sirius was a brewery after all the dilution they would't have any drinkers left.

[aventador] 15/1/2018 11:17

Astral vision is happy as is in profit some of us are still deep underwater from constant dilution lack of progress and failure to deliver promises of funding and first oil year after year.Let's see some actual progress.E.g. profit from oil production more assets as promised or sell the lot off and give us a decent end game price.

[astralvision] 15/1/2018 11:15

Yes, I thought that might garner a comment, but when you look at the LOG convertible loan for $12m odd and the $100m CLF from REYL (subject to Ororo2 performance) then an understanding that dilution has been kept to a minimum emerges.
And all investors have had more than an ample chance to buy at less than the recent 1p placing price.

[dr rosso] 15/1/2018 11:12

"dilution to a minimum"

lol

[astralvision] 15/1/2018 11:08

Not at all sure it is 'same old sirius'
As far as I can see they have over the last year or so put together a very impressive consortium of partners, obtained funding through a variety of means that has meant keeping dilution to a minimum and are now pushing ahead, as evidenced by recent RNSs, to develop the Ororo field.
But I guess, for some, and I can understand it, it is still not enough even though they would be hard pushed to do anymore.
It's all coming together and a lot of SRSP investors I know are very happy indeed with the situation and the progress.

[6cer] 15/1/2018 11:02

Yes - same old sirius - they can talk the talk but don't walk the walk.