Sirius Petroleum Share Discussion Threads

[htrocka2] 23/4/2018 08:50

vatnabrekk
22 Apr '18 - 22:50 - 77816 of 77827


vatna.... the 'Consortium', including COSL, will not be activated just for Ororo.... 2,700 bpd is not what the top five global entities signed up for.

[htrocka2] 23/4/2018 08:48

vatnabrekk
22 Apr '18 - 22:50 - 77816 of 77827


vatna.... the 'Consortium', including COSL, will not be activated just for Ororo.... 2,700 bpd is not what the top five global entities signed up for.

[astralvision] 23/4/2018 08:33

Shez20I'm not surprised as such, I am frustrated and disappointed by the own goal.But I still think it's different this year.This is the first time we've had:The financingThe correct partnersThe correct legal status.They explained why March was missed and it was a good explanation with improved terms with COSL.I will be happy with another equally as good RNS.It looks like a few months delay which ain't the end of the world and if they can issue the sort of news I think they are capable of then we will all have a smile on our face.

[sherl0ck] 23/4/2018 08:20

O/T -

As anticipated, BP has now signed Heads of Terms to pursue an FLNG vessel with Golar’s FLNG focused ‘OneLNG’ business (joint venture with Schlumberger) on their multi-TCF West African gas field that spans Senegal/Mauritania and which was originally discovered by Kosmos.

[shez20] 23/4/2018 07:56

I don't get why some of you seem surprised! How long have we been here now? How many deadlines have been missed? How many of these did we ever get a explanation for? Why they going to start now!

[cautioussid] 23/4/2018 07:26

Brent crude $73.43

[rugbybloke] 23/4/2018 07:26

Agree Astral, this is by far the most plausible reason for the delay. Such a shame the board couldn't have released a simple update. Transparency is key here to build trust.

[6cer] 23/4/2018 06:16

poo hits $74 - brent.

[x1000] 22/4/2018 23:37

Lease expired ?

[astralvision] 22/4/2018 23:36

Tend to think it's something along these lines....COSL told SRSP that Force would be ready to move in a week or two.SRSP put out the 12th March rns confidently expecting Force to be in Nigeria and spud by end of April.Force overruns the RAK contract, finishes a couple of weeks later, by which time its missed its hlv window. Force now sitting in harbour in Dubai waiting to see if COSL can rustle up a hlv from anywhere. Spud date now June at best, if COSL can transport the damn thing to Nigeria.I strongly suspect the lack of a rig in Nigeria has absolutely nothing to do with any t/out. I mean all this t/out talk is just utter nonsense, we've nothing of real worth to sell and if anyone thinks we're going to be able to simply flip options for big bucks they need a check up from the neck up.I would absolutely love a t/out for 6p, 10p or whatever in the near term but it's simply wishful thinking. It's not hard to check the rns releases over the last few years and see what the strategy is. Gawd knows it's taken them long enough and SRSP freely admit that- they can hardly do anything else. But the situation from here on should be much more straight forward, with everything in place to take things forwards. They will be judged on what they do this year.They do, imo, need to carry investors with them. Tend to think there must be a reason why they haven't put out some sort of statement re the latest drilling delay. Perhaps they are waiting for other events before releasing news or perhaps they are simply waiting for clarity from COSL before having their third attempt at a spud date. They need to take a long serious look at their ir policy, imo.I would hope we get news this week, we'll see.

[drrichard] 22/4/2018 23:11

Indeed, while I have never been a fan of the T/O theories I would love to read that the unexpected is cheeky 10p offer! But then, why move offices. Hmm.

[vatnabrekk] 22/4/2018 23:05

It's all very intriguing. But it certainly seems that something unexpected popped up.

[drrichard] 22/4/2018 22:57

Agree, Vatna. It has occurred to me that while it has been postulated that the previous job for which FORCE was engaged overran, this cannot be the case. For the RNS said “hot stacked” not “ about to finish”. What did happen?

[vatnabrekk] 22/4/2018 22:50

HT: Whatever may be going on behind the scenes (and I'm fairly sure that there are lots of wheeling and dealing going on) that really doesn't explain, nor excuse, the fact that on 12th March SRSP issued a RNS stating that drilling would start in April, which meant that the rig would have to start moving from UAE by the end of March.

Within 2 weeks of issuing that RNS the rig plan seems to have ground to a halt. Whatever the scheme may be relating to other assets, in particular relating to 241, it didn't suddenly come to light during the second half of March leading to the necessity to abort their newly arranged substitution and mobilisation of the rig. Those deals etc. relating to other assets and 241 have been on the go since Noah.

I'm convinced that when they issued that RNS they were very confident that the rig was about to be mobilised. What I would like to know is, what suddenly materialised between 12th March and the end of March to scupper those plans?

[htrocka2] 22/4/2018 21:52

There's a possibility that the reason we're not drilling is because everything has been put 'on hold' for the following reason. We've accepted on this board that the 'Consortium'' amassed by SRSP are NOT here just for Ororo. The deals were all made between Nov 2016 and July 2017, hence the July'17 spud date. We also assumed that OPL 241, adjacent to OML 95, was to be the ongoing field in the drilling programme in conjunction with Oilworld, who owns 20% and Owena Oil and Gas, the 100% State Owned Vehicle, our partners on Ororo, and owner of the remaining 80% majority of OPL 241....

(OPL 241 Stats)
'OPL 241 is located in the shallow waters of the Niger Delta Basin, Nigeria, at the end of 2005. The total concession area is 1,182 sqkm Estimated Oil & Gas Reserves are in the range of 1,8 billion barrels plus probable reserve in excess of 400 million barrels'

As seen above, it's at least 10 times the size of Ororo...however, this is the 'crunch'. In the URL below, a paragraph states that as from October 2017, about six months ago, Owena Oil and Gas are to divest all of their 80% interest in the field to Bressen Energy. SRSP may have invested months in time and energy negotiating with the State vehicle and the 'Consortium' on a deal involving OPL 241 that's now about to change hands.....that's the bad news, The good news is that Bressen Energy have on office in Holborn, London and with SRSP acquiring new offices in St James, MAY,I emphasise MAY indicate that they've come to some agreement regarding the block.

'Bresson Energy would seek to bring additional equity partners on board to co-manage OPL 241'

ps. There have been numerous claims and counter claims of ownership of the block since 2001...hopefully, with the new owner, is now all history.

[deadly nightshade] 22/4/2018 21:31

correct me if i am wrong but sou had a share consolidation, if you look at their share price i think its pathetic considering how they were talking about 4 quid a share at one point. i was tipped them at 17p and they are not even 50p now after all that gas discovery.

[drrichard] 22/4/2018 21:16

Agreed, Aventador, lost opportunity (SOU for one) is huge for all of us. Notwithstanding, gotta keep the faith my friend,

[deadly nightshade] 22/4/2018 21:10

fishandchips you have been invested here 5 minutes aventador has been here 5 years plus and bought in a lot higher price so why would he sell out at a big loss then try to buy in again. everyone is entitled to their opinion and the bod deserve to have the pressure kept on them untill they actually deliver something resembling shareholder value.

[deadly nightshade] 22/4/2018 21:04

sonic aventador is still waiting for your golden tickets boooooom prediction to come true.

[fishandchips2] 22/4/2018 21:02

Sonic, don’t be fooled by Aventador. He’s sold out hoping the share will drop, so he starts his campaign of knocking the share.

He wants back in and trying to make a quick buck.

Once he is back in he will start ramping.

[deadly nightshade] 22/4/2018 20:56

i just hope the next rns is the one that puts a total conclusion on whats been going on here over the years. every rns they release leaves you scratching your head as to when anything will happen for certain. i just hope the next rns is either a takeout or a rig on its way. even a rns mentioning another asset will be pointless unless that asset is going to be in production straight away

[1sonic] 22/4/2018 20:56

Aventador - sell up and shove the lot in the pier slots....

Your moaning is doing my head in...

Simple minds.....

Utter class.... Clacton Pier....

[aventador] 22/4/2018 19:50

Could of made more money on a one armed bandit down Clacton pier than this lot have made in a decade.