Sirius Petroleum Share Discussion Threads

[eye2] 12/3/2018 21:36

13.5 mil ??? Wow 12.25 pm

[openfield68] 12/3/2018 20:29

Really great news. Well done Bobo - more back slapping everyone yardy yarda. So with all this great news and new found freedom and money, surely someone can confirm what rig is going to be used and what date - heaven forbid - we may even start drilling. Anyone? Anyone...Bueller...anyone?

[xerot] 12/3/2018 18:55

Should rerate faster than a Morris Ital on full chat with nitrous and a peco big bore exhaust system

[ileeman] 12/3/2018 18:51

Will build now rig is confirmed, completely derisked. Got a bunch today at 0.9p and a tad below 0.95p.

Wasnt fast enough to get much at 0.9p but will look to add more if it gets there.

Once people digest news and start positioning for the drill it should rerate.

[aventador] 12/3/2018 17:55

Yep exactly was trying to buy this morning not sell haha.Once this is drilling and we may see more assets this will be double figures for sure most them big sells today where clearly buys so they seem to be keeping brakes on still.

[xerot] 12/3/2018 17:41

decent rise but would have thought it would have gone up more but it's just the start. even if it was 1.5p no one is selling anyway so a bit of a waste of time to think like that anyway. More news and assets due so why sell now ?

[aventador] 12/3/2018 17:37

Lot of volume but share price didn't reflect it.Next month I'm sure is when the price will really respond and move.

[astralvision] 12/3/2018 17:30

Nice buy handygandhi, respect. Hope it makes a fortune for you.

Loving that volume today, what a great day!

[handygandhi] 12/3/2018 17:22

Leonsito
The late reported trade of 5m at 12:27 which was marked as a sell, was a buy

I bought shares around that time and paid 0.90p

[leonsito] 12/3/2018 17:11

The Buys volume is more than double than the sells volume today. Also today's volume 70m vs 7m average daily volume. Looks good to me...

[share_cruise] 12/3/2018 16:24

Or perhaps an update on the offtake agreement? An update on assets?

[drrichard] 12/3/2018 16:04

I think that the next news might be that the rig and hlv are en route, ETA given and putative spud date. They will have around three weeks to get local support staff, equipment, barges, supply boats etc. in place. Presume this is down to ADD Energy and or Schlumberger.
We might, of course, get a googly announcing the next asset.

[swiz73] 12/3/2018 15:50

Perhaps they don't see any further movement now until the rig is near to the site. Going to be a tedious wait, if no further news. But most here are now in the Jedi level of waiting. (This should not be confused with waiting patiently tho)

[twodegrees] 12/3/2018 15:02

why are people selling .....

[undertaker] 12/3/2018 14:57

just get a room all 3 of you!

[bumhammer] 12/3/2018 13:40

Can I have a go behind Xerot next please?

[solarno lopez] 12/3/2018 13:18

I'm behind you Xerot !!

[xerot] 12/3/2018 13:16

Yes it must be good to have the holders back on board. Some pressure on them was needed I think after the many delays we've had but today is a good day, probably the best news we've ever had on this share and the culmination of a lot of work no doubt.

Time to get behind the company again and wait for the other assets and drilling.

[djj2014] 12/3/2018 13:00

Hopefully no fall back from hereon.

[sherl0ck] 12/3/2018 12:59

I wonder if there’s ever been another O&G company that’s secured an off-take & multi-$m prepayment deal before they’ve even drilled a single well?! It’s a huge validation of the company and our asset pipeline from a super-major.

Critically, it also underpins the ability for Reyl to structure the larger debt project funding component, which we’re led to believe can be replicated per asset, hence you could eventually be talking of hundreds of $millions.

IMHO it also importantly paves the way for us to go in on further larger assets. I suspect from the RNSs that one or more of these have essentially been ours to take on for some time but we’ve needed to follow an important validation and de-risking process beforehand to ensure that local partners, FGN, Nomad, Listing Authority and investors have adequate visibility of financial resources and developmental cash flow.

Three quick BP-centric examples that illustrate the importance of securing off-take agreements:

1) As part of Serica’s recent large acquisition, BP agreed to off-take all their oil, gas & NGLs, as well as provide a prepayment facility up to £16m (RNS 21/11/17). Sound familiar? It looks like this financing arrangement was a critical component to make the deal work.

2) BP’s $6bn methanol 10 year off-take with Nigeria’s BFPCL was the key piece of the jigsaw that helped finally secure Chinese funding which had previously stalled for at least 3 years.

“The Agreement is a key condition precedent for securing the foreign direct investment from the project lenders and international investors.”



3) BP’s 20 year LNG off-take with Eni in offshore Mozambique helped secure $4.8bn project funding via a consortium of local/Chinese banks and export credit agencies.

“by guaranteeing a customer for the entire output.... the BP contract clears the way for Eni to make its long-awaited final investment decision on the multi billion dollar project. It could also add impetus to efforts by Eni to sell a stake in its Mozambique assets...”

[oilbuy] 12/3/2018 12:39

Plenty of bottom draws opening. Plenty of dust to wipe off.

[oilbuy] 12/3/2018 12:38

Looking ace. Finally going places.

[ileeman] 12/3/2018 12:29

Think 1.5p-2p pre drill is a good target.