Sirius Petroleum Share Discussion Threads

[twentysixpointtwo] 04/4/2018 21:55

Yep it’s setting off for Malaysia. False alarm then. Question is where the heck is the Force ?

[deadly nightshade] 04/4/2018 21:53

suprise suprise the mystery continues this hlv does not appear to be ours its not heading to nigeria its off in another direction. nothing has been simple with this share so expecting that hlv to be ours was like asking for a lottery win

[aventador] 04/4/2018 11:57

This moves more on speculation than the actual news that usually results in a drop.

[drrichard] 04/4/2018 10:56

iLeeman, the exact phrase in the mobilisation RNS was " The COSL Force is a "hot rig" (tooled-up and ready to operate) currently offshore UAE and is therefore ready to be mobilised to Nigeria shortly. "

The rig needs an HLV to get it to site and Vatn's link shows the nearest, most likely ship capable of doing this. And, remember, the last RNS, barely two weeks ago still said April was go. Only a few days to wait guys.

[ileeman] 04/4/2018 10:51

Vatna it is possible that, the ship you are looking at is not SRSP rig/ship.

Recent RNS already stated that rig mobilization has already commenced.

[vatnabrekk] 04/4/2018 10:45

I agree, I believe that because of SRSP's history, the market is generally sceptical of any "statements of intent" such as "...currently offshore UAE and is therefore ready to be mobilised to Nigeria SHORTLY." But when we get an RNS announcing ACTUAL mobilisation of the rig, and confirming that it is actually on its way, then I think we'll see a better reaction from the market.

Of course we will then have a period of quiet for three or four weeks while the ship with the rig is on its journey, and during that time we will no doubt see the share price slipping back a bit. Until the next announcement! etc. etc.

[drrichard] 04/4/2018 10:26

I agree iLeeman. So many false dawns means a sceptical market. Finally getting the rig onto and HLV and announcing an ETA will be the catalyst for breaking through 1 p I think. Then, as Ed says, a steady rise as things progress.

[ileeman] 04/4/2018 10:18

Yea nuts was probably the wrong word, my thinking is the market still does not believe the drill is taking place so hopefully next RNS saying rig moving to site or onsite should be the last hurdle.

[edgein] 04/4/2018 10:10

iLeeman,

Not sure it'll go nuts on spud RNS, perhaps a little lift, action will build though as they get close to the pay on the first well and then go through the testing of the multiple formations etc. I'm expecting more of a slow build gradual increase rather than dramatic spikes. Although that could all change with the pipeline of assets, if that comes before or during drilling it may mean another temp suspension to trading especially if the first appraisal/development acquisition is similar size or greater than Ororo. If its the same size as Ororo then that's material to SRSP as it currently stands.

Regards,
Ed.

[jenny tulwought] 04/4/2018 09:13

iLeeman,

I had two small 'top-ups' last week (very modest by the standards of many on here).
As for the share price - experience tells me that it seldom does what you want/expect it to do (or what logic dictates it should do)...

...but then, SRSP have never sunk a drill-bit before - so past share price reaction, counts for little.


JT.

[vatnabrekk] 04/4/2018 09:13

I'm going to feel really silly if it turns out that this isn't the ship for our rig!

[ileeman] 04/4/2018 08:41

Whats everyones thinking about share price, you reckon it will go nuts once we get the next update on rig confirming everything is going ahead?

Seem crazy to be sub 1p, tempted to add more but dont want to go too mad xD

[drrichard] 04/4/2018 08:20

Keep the commentary up, please, Vatna.

[vatnabrekk] 04/4/2018 08:15

HLV completed unloading around 4:00am UK time. Now moving towards Abu Dhabi port.

[aventador] 04/4/2018 08:15

Yep hurry up get them bloody announced and we can then watch the share price go into space booooom.

[dr rosso] 04/4/2018 08:13

Pipeline of tied-in assets is 10x the size of Ororo, and that's just the OML95 block.
Adjacent multi-bn 241 to follow.

Hot rig cooling off a bit but things should heat up again next week when it meets up with HLV.
Apparently this type of jack-up can slot the platform into place, so saving time and money

[drrichard] 04/4/2018 08:10

Indeed, Ed, and not forgetting any additional asset revelations.

[edgein] 04/4/2018 07:58

Dr Richard,

1. Ororo-2 and O-3 to be drilled back to back, 45 days estimated for each well, starting this month.

2. Dual lateral wells estimated to do 4500bopd each approx

3. Temp facilities to be put in place to handle 15,000bopd and 25mmcfd

4. Wellheads on their way/arrived for O-4 and O-5 wells (they'll certainly be there before they test O-3)

5. SRSP will get 88% NRI until project payback

6. Pipeline of appraisal/development assets lined up.

Yes shaping up to be a very good summer indeed.

Regards,
Ed.

[drrichard] 03/4/2018 23:30

One would hope Ht that if the drilling goes ahead as planned we should be well over 2 pence by then.

[htrocka2] 03/4/2018 22:58

With ref to She10ck's post..... 3,000,000 warrants @ 2p have less than 10 weeks left.


Havoc Warrants

Sirius has agreed to issue warrants over 100,000,000 new ordinary shares at a strike price of 2 pence per share ("Warrants") to Havoc pursuant to the Agreement, subject to shareholder approval being granted at the Company's next Annual General Meeting ("AGM") to renew the Company's authorities to issue shares. The warrants will be exercisable from the date of grant, expected to be the day of the AGM, until the third anniversary of the date of grant. A further announcement will be made in due course regarding the AGM, which is expected to be held in August 2015.

Nomad Warrants

Sirius has agreed to issue warrants over 3,000,000 new ordinary shares at a strike price of 2 pence per share ("Nomad Warrants") to Cairn Financial Advisers LLP in lieu of fees. The warrants vest immediately and are exercisable at any time until the third anniversary of the date of grant being 11 June 2018.

[vatnabrekk] 03/4/2018 22:48

Who is Birmingham1?

[jenny tulwought] 03/4/2018 21:59

My condolences.

RIP K/S Snr.

[sherl0ck] 03/4/2018 21:40

The traders can take their quick profit but aside from all the other major clues provided, it’s also worth remembering that 15% of the $12m loan converts into SRSP shares at 1.5p.... 417.5m Board & consultant’s options are exercisable at 1.125p and there’s 293m x 2p warrants that lapse this year. I bought plenty of shares between 0.22 - 0.5p but also have no issue whatsoever buying at current levels.

[1sonic] 03/4/2018 21:16

Now that would be telling Aventador.

Buy as and when I can but if I can get till Friday that will be my last buy.

I’ve only sold 100,000 shares in 3 years but keep topping up where I can! Paid off so far.