Sirius Petroleum Share Discussion Threads

[minichris] 27/3/2018 15:43

Its just a slightly rehashed RNS on headed paper iLeeman... not worth your time.

[astralvision] 27/3/2018 15:20

No, but if you want to send me your email and I can send it on, it's just a one page revision to the original note.
av

[ileeman] 27/3/2018 14:59

Yea I kind of assumed late April/very early I am actually happy with that as it gives the share price time to build.

BTW have you got the Turner broker note link?

[astralvision] 27/3/2018 14:56

iLeeman

If that is the vessel I think it's tight for late April, but late April/early May, in the scheme of things I'm not that bothered about a week or two here or there.

I note the Turner Pope revised note says that 'Sirius anticipates first oil in June 2018 rather than our initial expectation of September 2018. Even allowing for moderate slippage in the timetable, we are confident that the proposed development timetable is ahead of schedule'.

It will be good to get the first well in this multi well campaign underway and bring SRSP close to getting cash flows in.
However, as observers who are a lot more tuned in than I am have commented it could well be that drilling and other operational events become dwarfed, in terms of raising the sp, if SRSP are able to announce further assets. Having said that, the TP note gives an share price target of 2.1p on Ororo alone, on the basis of oil at $65/bbl.

I think what we would all like to see is the share price driven on by a combination of operational news and asset news, if that happens could be one helluva ride,imo.

[ileeman] 27/3/2018 14:43

If that is the ship you reckon it will be on time for mid-late April drill?

[ileeman] 27/3/2018 14:27

Thanks astral.

Hopefully RNS early next week on rig.

[vatnabrekk] 27/3/2018 13:53

I agree with everything you say above, astral.
I also don't believe that we will see a take-out of "Agent Sirius" as DrR puts it. My belief (for what it's worth) is that Agent Sirius still has more work to do in organising the other assets that have been mentioned, in the same way that it has so far organised Ororo up to point of drilling or even production.

[bumhammer] 27/3/2018 13:00

Good post Astral.. Be great to finally see the show hit the road

[astralvision] 27/3/2018 13:00

ps, I'm expecting a busy time ahead with news-flow on a number of different fronts.

imo and fingers crossed!

[astralvision] 27/3/2018 12:52

Yes, looks odds on it is the Zhi Yuan Kou, now heading towards the Gulf of Oman and making good progress for it's expected eta in a few days time





There are other possibilities, such as Treasure, anchored at Dubai, but as it's not showing any signs of moving, it strikes me as unlikely. Plus Zhi Yuan Kou has carried COSL rigs before and as a COSCO vessel effectively part of CNOOC, along with COSL.

Interesting to note that Turner Pope have changed the timings in their recent broker note, it now reads:

'....With this news, Sirius is confident that drilling can commence on the Ororo field in April 2018. Given that we had initially anticipated that operations would begin in July 2018, we believe that this accelerated timetable represents very positive news for Sirius.'


I'm happy to take value however it accrues, but the chances of that being by a near term t/out are very unlikely, imo. SRSP have not spent the last few years stitching this consortium together and evaluating further assets just to sell it on for a relatively modest premium. Think much bigger than that, imo.

[sirianbotham] 27/3/2018 12:51

One of those 5 anyway

[bestdeal1] 27/3/2018 12:37

could be Thursday or Friday though......................maybe the monday after, or tuesday.. or wed....or thurs.....or Fri..................

[vatnabrekk] 27/3/2018 11:46

Yep, or maybe Wednesday.

[minichris] 27/3/2018 11:23

Just a little over 3 days until ZHI YUAN KOU arrives and we find out if its our vessel.

Tuesday RNS to confirm mobilisation?

[astralvision] 27/3/2018 10:25

.9999 are buys btw, small as they are

[minichris] 27/3/2018 10:25

So, someone has managed to build up a 1b share position under the radar? No TR1s?

Ooook

[ileeman] 27/3/2018 10:08

Either way you look at it this will rerate over next few weeks/months.

Very high chance of hitting the oil as it is appraisal, so should rise pre results but should also rise significantly after results + throw in their other drills.

[sirianbotham] 27/3/2018 10:02

"They don't. Bootfiller job while they get on quietly and secretly. Divulge the real assets and hostile takeover merchants will be sniffing gas."

If we are so clever and worked out their game do you really think that the the O&G market is completely unaware of whats going on? Surely we are more vulnerable at 1p. In terms of the marginal assets they wont get any more of them until they can prove they can develop what they already have. I buy the need for some element of 'secrecy' but not down to protection from takeover.

I do find it odd that they can announce drilling March / April but no schedule. If the HLV vessel is on its way why cant it be confirmed which one and when it will pick up the FORCE. This leads to speculation - is there a delay (ie PIGB) or waiting for assets declaration and RTO.

If we hear nothing in a week there will be speculation that we have changed rig again ....... swiz73 is right it could be a long April

[vatnabrekk] 27/3/2018 09:49

The company can't have a placing just because some of the shareholders want a bigger piece of the pie. There needs to be a better reason than that, and as they now have access to all the funding they need for now, I just can't see a placing happening.

[dr rosso] 27/3/2018 09:02

They don't. Bootfiller job while they get on quietly and secretly. Divulge the real assets and hostile takeover merchants will be sniffing gas.

[htrocka2] 27/3/2018 00:07

Ironically for Easter, the MDA'S are about to turn North and play 'catch-up' towards the 'golden cross'...and we'll be away.



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A couple of points on DR's post...why order the latest two well heads when they're not ready for them...conclusion being that the change in rigs suggests some problem caused a delay that put the drill date back having already ordered the well heads...

..and as far as printing more shares with the new AD...OK, they might well get them off for 1p , but more shares means that the rate of climb for ALL shares in existence will be slowed down and much lower with the new valuation...with company options exercisable at first oil....does the BoD want that?

ps...why, as suggested, do you need more shares when they have the project finance?

[vatnabrekk] 26/3/2018 23:09

So what happens then, DrR?
Does Agent Sirius get fired?
Or does Agent Sirius get paid a huge lump in redundancy money?