Sirius Petroleum Share Discussion Threads

[sherl0ck] 15/3/2018 17:03

At the moment we’re trading at a 50% discount to the new mid case npv, with no premium at all included for the big name partners, innovative financing structure, potential non-dilutive access to full field development funding, drill upside and future opportunities etc. Weird, but I’ll keep adding as & when I can.

[drrichard] 15/3/2018 16:45

Xerot, agree. Too many false dawns for market credibility so far. We know tha we are in the best position ever, as Sherlock has beautifully outlined.

[aventador] 15/3/2018 16:38

Ridiculous bids back at 0.8p after more decent news.This should be double this by now.

[xerot] 15/3/2018 16:26

I think it's a case of the market doesn't believe it's going to happen.

Until it sees oil the market will be sceptical of this firm due to all the delays.

The long term holders can see that it is about to happen for us because we have a detailed knowledge of this firm.

[dr rosso] 15/3/2018 16:10

15.14.5
.... "During the initial six months from the first oil production from the Ororo Field (Initial Period), Sirius may sell the oil produced to an alternative buyer for the purpose of managing its cashflows."


Page 37 AD
.... "It is expected that, during the period of an extended well test, there will be no sale or disposal of petroleum products from the Ororo Field."

?

[ileeman] 15/3/2018 14:21

Added a final batch today probably more than I should to be honest, didnt think it would still be sub 1p. Cant imagine this price will last with such a major catalyst in April.

[billyrayvalentine] 15/3/2018 14:09

Detective Captain Sean Signal
15 Mar '18 - 11:08 - 76362 of 76378
0 0 0
So what’s that 10.5M trade all about?

At the time the ask was 0.9 and the bid 0.95!
Leonsito
15 Mar '18 - 11:11 - 76363 of 76378
0 1 0
That was a big buy. Bid was 85, ask 90

...that was UT trade, so neither a sell, nor a buy ;-)

[edgein] 15/3/2018 13:58

Oh there'll be cash coming in alright. This temporary production set up with the barge and offloading facility will be to pay off the BP agreement. They're certainly not going to be flaring off 2700bopd and 6mmcfd that's for sure of estimated production over the duration of the LPT. After that they'll be moving to phase II and full field development with the additional wells.

Regards,
Ed.

[edgein] 15/3/2018 13:55

Drrichard,

Indeed, we're fast approaching the most important few months in the company's history, that's for sure. Pipeline of assets to follow Ororo. Exciting times ahead and some are certainly taking advantage of the fact that these haven't started to shift yet.

Regards,
Ed.

[astralvision] 15/3/2018 12:56

Sherl0ck, many thanks again for another reply and one that has some very practical and realistic suggestions as to when and how we might expect those assets, together with your more speculative answer, which is food for thought and it's those sort of thoughts help to brighten up a dull and windy march day, cheers, appreciated.

Dr Rosso, re cash flows and 'no sale of petroleum products', I did also read that somewhere in the AD, can't put me finger on the page right now. But I always took that to mean the generally accepted definition of 'petroleum products', a product derived from crude oil and produced in a refinery. As far as I can see the idea is to get cash flows coming in asap via the EWT and they sure ain't going to be giving the stuff away.



if that's not the case there sure could be, potentially, a lot of oil and gas produced by the EWT that will need to find a home.

[dr rosso] 15/3/2018 12:34

Interesting to discover where COSL Strike and COSL Force super-rigs have recently been deployed. Both have been drilling on the South Pars Gas Field in Iran. This is the largest gas field in the world.

"South Pars Gas Field (the North dome in Qatari side) is the world's largest gas field which is located on the joint border line between Iran and Qatar in the Persian Gulf. Iranian section of this field is considered the most significant source of energy in Iran.The gas reserves of this huge gas field comprises about 8% of the total gas reserves of the world while the Iranian part of the field comprises almost one half of the domestic gas reserves of Iran. This huge gas field measures 9,700 square km in area while the Iranian section measures 3,700 square km in area. Iran's section is estimated to hold some 14 trillion cubic meters of gas plus 18 billion barrels of liquefied natural gas (LNG). Petropars, as the first and greatest Iranian Operator in charge of development of different phases of South Pars Gas Field, has so far developed 11 blocks out of 28 blocks of this field in the form of 5 projects (for the production of some 12 trillion cubic feet per day of gas).



Ali Amiri - Project Engineer & Drilling fluids Engineer (offshore ...
hxxps://ir.linkedin.com/in/ali-amiri-a9287155
Operated by PETRO PARS (PPL) & Dana drilling company on Oriental 1 Jack up & COSL Strike, COSL Force Super rig and SAHAR1. High H2S contained wells.

• Cosl Pan Pacific Drilling Limited (Iran-NIDC)
Cosl Force - Baker Marine Services BMC Pacific 375- Fully Cyber Based Rig
From Feb 2010 to Jan 2011 worked as Rig Electrician.



And now it'll be shortly on its way to the Ororo field containing 24mboe.
After Iranian trillions, I bet the crew can't contain themselves at the thought of pulling a relatively teaspoonful out of this marginal.

So what's this rig really coming for?

[sherl0ck] 15/3/2018 12:19

Astralvision, some random thoughts on your question of timing on other assets:

P.43 AD - “The Directors intend that the Group will experience significant growth following its transition to an operating company and commencement of commercial oil and gas production.”

I suppose it depends how you interpret ‘significant growth’. Plus it’s not strictly saying no single further asset until after production.

Mark H’s comment about 2 new assets last Dec was “we would hope that we’ll get to a point where we can make a decision on those pretty soon”. No mention that this is only after Ororo, so it possibly still leaves the door open.

Re: financing, with everything we’ve already established, particularly with BP & REYL (which we assume could extend to other assets), we might theoretically be able to satisfy the need to demonstrate access to funding, which could be important in taking on other assets. So this may yet be independent of actually drilling Ororo.

There’s also logic behind the view that securing at least one further asset prior to drilling O-2 is prudent for risk mitigation. Whilst the drill should be pretty straightforward, if this was our only asset and something did go wrong it would be much more damaging to the company.

Finally, just to throw out a wild and hugely speculative thought for a little bit of fun..... if we’re to be acquired but need to firstly secure larger assets and thus, need to demonstrate access to bigger funding for RTO/AD purposes etc, when you think about it, BP/Reyl would be quite a neat way of doing so legitimately but without actually needing to already have oil sales cash-flow or large money sitting in the bank account!

The placing £ & LOG convertible loan for Ororo drilling gets us through the re-listing process and helps establish & underpin the larger BP prepayment & Reyl funding mechanisms. But as of today we’ve not seen a single penny from the latter two elements, yet their very presence might already be applicable to other assets and satisfy funding requirements.

So in a bizarre way and purely for the cost of the $1m Reyl downpayment, we could end up with an ‘ability’; to leverage these in our favour to help build the portfolio. Massively efficient (recall that’s always been a big thing for us), all above board and without any further actual equity funding needed. As I already heavily caveated, it’s admittedly unlikely but it is fun to let your mind wander sometimes!

[dr rosso] 15/3/2018 11:57

"we may need Ororo cash flows first to prove up the model and to access other funding"


There will not be in any cash coming in. With all the talk of "cash-generative later in the year", a section of the AD makes it clear that there is going to be no sale of petroleum products during the extended well test on G which is expected to take up to 12 months to complete. That takes us to May 2019 until we see first o&g revenue.

[dr rosso] 15/3/2018 11:53

Share trading is being controlled. Large batches are suddenly being made available, to be snapped up by a buyer in one large trade. These shares are not intended for pis.

[youthstockperspective] 15/3/2018 11:29

https://youthstockperspective.com/2018/03/12/where-will-twitters-stock-go-from-here/

[detective captain sean signal] 15/3/2018 11:28

Uploaded to my twitter@DCSeanSignal1

[leonsito] 15/3/2018 11:22

MM manipulation to make it look like a sell... What? Never heard of it?

[solarno lopez] 15/3/2018 11:21

tell me more Dcss

[detective captain sean signal] 15/3/2018 11:17

I have a screen shot of it, Sol. Not sure how to upload onto here though.

[solarno lopez] 15/3/2018 11:15

Hahaha spot on BH

[bumhammer] 15/3/2018 11:15

Dont even try to second guess our SP

[solarno lopez] 15/3/2018 11:14

Posting 76357 DCSS not sure you are correct but hey who knows

[leonsito] 15/3/2018 11:11

That was a big buy. Bid was 85, ask 90

[detective captain sean signal] 15/3/2018 11:08

So what's that 10.5M trade all about?At the time the ask was 0.9 and the bid 0.95!