Sirius Petroleum Share Discussion Threads

[1sonic] 01/5/2018 22:53

Think Astralvision makes sense

It was a holding RNS....

Team move into new office......

Times are changing....

Get ready.....

[vatnabrekk] 01/5/2018 22:46

drr: In this situation, COSL is contracted to provide a service to SRSP, so I'm sure that they will be in constant communication with each other, and COSL will definitely be keeping their "customer" up to date with any problems or delays. Note that the RNS didn't say that SRSP were waiting for COSL to advise them the reason for the delay, it just referred to waiting for COSL to clarify the timing. Of course the delay may not even be caused by COSL, it may be for some political or other reason relating to SRSP. We just don't know.

kwizza: You may have a point regarding the preliminary location approval, but as far as I am aware there has been no previous notification that they required any further authorisations or approvals from the authorities, unless I've missed it. The RNS in March certainly gave the impression that they were now clear to go ahead and bring in the rig to start drilling.

[hansen5] 01/5/2018 22:40

Don’t worry Vat a music vid will be along shortly to explain all.lmao.

[kwizza] 01/5/2018 22:33

"is pleased to announce that the Company's international rig partner COSL has now received preliminary Location Approval from the Marine Warranty Surveyor"

Could it be that COSL are waiting some form of final approval to continue as
they only received preliminary approval in March 2018

[xerot] 01/5/2018 22:33

We've had more Stooges than Billy Crystals fan club on tour in Pollards Hill snorting crack and shooting junk.

[drrichard] 01/5/2018 22:27

Vatna, it could be simply that COSL have not said, in detail, exactly why the delay. Presume this RNS was to let us know that BoD need COSL to give a detailed timescale? Can’t say I blame them.

[vatnabrekk] 01/5/2018 22:21

What troubles me now is that as we have passed the target date stated in the March RNS for drilling, we now have no target in front of us.

"...the Company expects to be able to provide an update on timing for the spudding of the Ororo-2 well in the near term."

It's now wide open, and anyone's guess as to what "near term" means. We may get news of rig mobilisation in a few days, or a few months.

I don't understand why they couldn't have advised the reason for the delay, rig repairs, or even availability of HLV ships. But to say nothing on that score bothers me.

[vatnabrekk] 01/5/2018 22:14

I wish I understood what he/she is talking about.
And what "team" am I alleged to be part of?

[drrichard] 01/5/2018 21:41

One thing has just struck me, why the 12.05 RNS? They have been in this situation, you would think,for 2-3 weeks, with FORCE. We have been watching sequential HLV getting close and doing other things. So why not a 7.00 RNS? Has something happened to trigger this open question to COSL.

[keysersosse] 01/5/2018 21:35

Upset me Vatna ?

You couldn’t upset me dear.

As for the stooge part which you had to edit.......on the phone with the other two are we....?

But you know full well that I’ll happily upset your team’s applecart.

Chin chin old fruit.

[vatnabrekk] 01/5/2018 21:33

What have I said to upset you Keyser?
And why are you calling me a stooge?

[htrocka2] 01/5/2018 20:55

The problem now is, as I see it, the longer this goes on without the appearance of a rig actually drilling for oil, the harder it may become to draw-down cash under the 'Facility Agreement'.


'The Company entered into a collateral letter agreement with LOG, pursuant to which within 5 business days of delivering a drawdown notice under the LOG Facility Agreement, the Company will deliver to LOG such collateral, including the Company’s future oil revenue receipts from the Ororo Field or other assets, as will be acceptable to LOG, and will grant security in favour of LOG over such collateral'

[vatnabrekk] 01/5/2018 20:52

aventador: Have you seen Twentysixpointtwo's post no. 78258 above?


"There is a twitter post from a couple of hours ago quoting a question put to Gable asking whether the rig has been mobilised or not as the RNS is ambiguous. The response from “John” (I assume Bick) says “no” and they are waiting on COSL."

[x1000] 01/5/2018 20:36

How many stooges here ? What do they post ? What do they omit to post ? How many years have they been here ? Is the bod mission to perpetuate confusion?

[bumhammer] 01/5/2018 20:35

Why o'why is nothing simple with this lot

[aventador] 01/5/2018 20:19

RNS Number : 3773H

Sirius Petroleum PLC

12 March 2018

12 March 2018

Sirius Petroleum Plc

("Sirius" or "the Company")

Ororo Field - Operational Update

Mobilisation of Rig for Ororo Field Drilling Program

Sirius Petroleum (AIM: SRSP), the Nigeria focused oil and gas development and production company, is pleased to announce that the Company's international rig partner COSL has now received preliminary Location Approval from the Marine Warranty Surveyor for the Ororo-2 and Ororo-3 wells and has commenced mobilisation of the jack-up rig for delivery direct to Nigeria.
-----




It states there in black and white mobilisation of rig,"HAS COMMENCED MOBILISATION" it must have set off back in march.

-----
1 May 2018

Sirius Petroleum Plc

("Sirius" or "the Company")

Ororo Field - Update

Sirius Petroleum (AIM: SRSP), the Nigeria focused oil and gas development and production company, wishes to advise it is awaiting clarification from COSL, the Company's international rig partner on timing for completion of mobilisation of the rig. On receiving this clarification, the Company expects to be able to provide an update on timing for the spudding of the Ororo-2 well in the near term.
----

This is confusing but could be interpreted as awaiting confirmation of arrival via completion of mobilisation not the start of it or to mobilise, then again you would think they could track it and would know an ETA, but why tell us mugs as said keep us in the dark with all the rest of it, and then pow hit us with the full works once new office set up.

Wouldnt write this off just yet could be sooner than we first thought, cheap buy then still under the 1p placing maybe??..

[keysersosse] 01/5/2018 20:03

Here’s another opinion then.....currently offshore......it means it could have departed does it not ?

Too many company stooges on here for my liking chaps...

Some notable absentees though when The Hotstepper takes to the stage....

[x1000] 01/5/2018 19:31

Htrocka, point taken ! Thank you!

[htrocka2] 01/5/2018 19:17

x1000.. with respect your answer doesn't tie up with the rns released eight weeks ago

'The ordinary usage of "mobilise" does not apply. In oil speak "preparation for active service" better describes the reality.'



'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.'

[deadly nightshade] 01/5/2018 18:59

good posting keyser no ones getting my shares easily i would rather flush them down the drain then let some @@@@ get them on the cheap

[1sonic] 01/5/2018 18:49

H1 2017
Q1 2018
Q2 2018
Q3 2018

Or.......... boom very soon!

Believe guys believe.....