Sirius Petroleum Share Discussion Threads

[handygandhi] 19/1/2018 12:13

I wouldn't touch Oxford Metrics with a barge pole

[seismick] 19/1/2018 12:00

OMG what a basket case performer this is

[detective captain sean signal] 19/1/2018 10:14

$7 Billion

[dr rosso] 19/1/2018 10:04

My claim is that the assets total 7bn of 2C. That Ororo alone will be proved up as 200mmboe, surrounding stranded gas fields taking the total to near 1bn. Add 3bn in the first instance from Block 241.

Targeting 200k boepd, fully funded and accusations of negativity flood in.

I ask only 2 things.
a) Disclose the actual work done to date by partners (not surveys, office stuff)
b) Deliver for once on what is promised. March drill means rig must move in Jan.
8 trading days

Whether the current BoD has the capability of running a 200k boepd operation is questionable. My opinion, fwiw, is that once the data is in in April, the whole enterprise will be passed over to a Chinese mid-tier who will be comfortable working alongside world-class partners, in much the same way that Addax was swallowed up by Sinopec. Can't remember the t/o price.

[dr rosso] 19/1/2018 09:28

Deception by associates certainly. I believe the BoD has been equally frustrated by some distinctly dodgy goings-on behind the scenes. Never accused Bod of anything, certainly not corruption. They must have actually believed in their announcements via rns, podcast. H1 and all that. The trouble is that they themselves are not pulling the strings, consequently made to look a little foolish.

BTG was brought in on more favourable terms than Glencore, hence termination of Big G.
Sept 2017 saw the demise of BTG. It's a way of doing business that lacks principles, but the new funding secures the longer term development.

Nothing significant was ever going to happen until certain shareholders were fully seated. All is now in place. No more promises. deliver.

[drrichard] 19/1/2018 09:21

Second that Mr B-we need local support for the expansion plans, which is why the big boys have signed up. It is not what you know in this area it is who you know and Bobo et al are plugged in big time with the local guys.

[bumhammer] 19/1/2018 09:14

Nice one Sherlock and yes Bron it looks that way.
Maybe its something that while has possibly had us tied to delays you would think now goes strongly in our favor.

[bronislav] 19/1/2018 08:46

The pib delays and our perceived delays have run in parallel.It suggests to me the nnpc changes affect our plans.Other companys have carried on regardless in nigeria yet we have stalled .logic says we must be tied into the new regulations/format.

[dluk] 19/1/2018 08:39

Let's hope they move a bit quicker now!

[thedoogster] 19/1/2018 07:40

Great post Shez! Sums it up perfectly.
GLA lti's and let's hope we are now on our way to finally producing

[deadly nightshade] 19/1/2018 07:01

you can't blame pi's for being suspicious that this rig will not be moving by the end of january. this bod have done nothing in the way of delivering any positive upward momentum to the share price over the years and in my opinion folk have every right to vent their anger. untill i actually see that rig moving toward ororo i will be taking everything with a pinch of salt. first up i want to see a HLV in the area because unless that rig has rotor blades attached it aint going no where

[shez20] 19/1/2018 06:55

Think everyone just wants a positive conclusion to all the nonsense now! People just show it in different ways or have different motives! It is expected when some pis have been here for the length of time they have and have heard it all before! As soon as rig is mobilised and date given on drill it will all be put to bed and everyone will be a lot happier! I do believe the bod will hit their target this time and deliever!Fingers crossed and good luck all!

[rod99] 18/1/2018 23:44

Buona notte ct1000

[astralvision] 18/1/2018 22:44

Sounds great Dr Rosso, world leading services company Schlumberger doing work for little old SRSP.Let me think, what have they been doing, they ain't been digging holes (unlike some ob here!) or laying pipelines. We don't know how much we've paid S. I mean do you think they have to do any preparation work, take on personnel, buy equipment and stuff like that (does that count in your world?) or perhaps COSL Power turns up, hey Schlumberger, we're here, care to rock up and do your stuff? What do you reckon, rock up on the day or shell out beforehand on planning, equipment, personnel.Your call. What you reckon eh?

[dr rosso] 18/1/2018 22:35

18 Jan '18 - 20:56 - 73825 of 73828
"I’m not sure if S have been paid anything or not"

AV, you should read the AD. Page 181

"Schlumberger shall issue an estimated invoice for 85 per cent. of the Service Charges for the works for the first well ninety days prior to mobilisation. The Company shall make payment thirty days prior to mobilisation."

I think we can assume we are within 30 days of rig mobzn, and certainly within 90.
So what has Schlumberger actually been doing since it was contracted in Dec 2016?

[drrichard] 18/1/2018 21:59

6cer, barely any delays yet, surely? BoD have twice , recently, said that we are on track, for Q1. We are awaiting news of rig mobilisation imminently. Unless, of course, you are referring to the delay last year?

[6cer] 18/1/2018 21:29

What reason would it be to keep delaying things ?

[astralvision] 18/1/2018 20:56

Not unreasonable to ask at all. You ever asked? Could have asked at the GM or the AGM.Mind you, seeing as you're expecting holes to be dug and pipeline laid, think it's fair to say that neither Havoc nor Schlumberger did those things. I'm not sure if S have been paid anything or not, if they have it's probably in the form of a retainer.Re Havoc, you never know, they might well have been involved in planning the best and most effective way to exploit Ororo, but as things like surveys, plans, equipment deliveries etc don't seem to count, then perhaps they are just being paid to do f-all, in your weird book.