Sirius Petroleum Share Discussion Threads

[htrocka2] 07/5/2018 09:41

I hear where you're coming from DR....but the way I see it is that IF,IF we have an interest in OPL 241, Toby Howard, who has been pulled back into the fold, was the original instigator of the deal. With Bresson Energy now negotiating the purchase of Owena's 80% of the field, it seems the ball game has changed....and hence still not yet done and dusted.....so the BOD still have a bit to do.

[x1000] 07/5/2018 09:40

When you put it like that (again !!!) Dr Rosso, your argument is compelling !

[dr rosso] 07/5/2018 09:26

Falcon Project refers to the Sonam Field located in nearby OML91

Nigerian National Petroleum Corp. has signed agreements with joint ventures led by Chevron Corp. and Royal Dutch Shell PLC accommodating third-party financing of its cash commitments for oil and gas development. The agreement involving the NNPC-Chevron Nigeria Ltd. JV covers $780 million remaining to fund development of Sonam natural gas field, in which Chevron Nigeria has invested $1.5 billion. Chevron expects the shallow-water project, tied to the Escravos Gas Plant, to produce 215 MMcfd of natural gas and 30,000 b/d of liquids. Of the amount in the agreement, $380 million will cover NNPC’s 2016 cash commitment. The rest will support drilling of seven wells in Sonam field on Oil Mining License (OML) 91 and the Okan 30E non-associated gas well on OML 90 as well as completion of associated facilities.


Ororo Project lies in the hands of Ondo State. It amazes me that some respected posters here think that a tiddler with no O&G men on board have the capability of actively managing the twin blocks of 95/241 with reserves far in excess of Sonam. A bunch that appears to have not a scooby as to when the drilling rig will get moving, ... i/c of a mega-venture. Unbelievable.

[x1000] 07/5/2018 09:23

Thanks Bron . The longer this debacle goes on the more I realise how clueless I am.

[htrocka2] 07/5/2018 09:21

'Breakdown of the NNPC/Chevron JV deal which was executed at a signing-ceremony in London over the weekend indicates that the $1.2bn is to be channeled into the development of 23 onshore and 13 offshore wells on OML 49, 90 and 95 in two stages over 2015-2018.'

It's difficult to understand or come to terms with the fact that all this work that's going on around and within OML 95, probably within the sight of ORORO itself, yet we're standing idle and doing nothing with no mention of integrating the ORORO wells with NNPC/Chevron J/V.

[bronislav] 07/5/2018 09:18

X1000..I think you misunderstood me...my point was the president has a fixed time to sign the PIGB ,if he does not sign it it is my understanding that he can be bypassed and the senate can in effect sign it for him..in other words the PIGB can become law without his signature.

[x1000] 07/5/2018 09:11

hxxps://www.punchng.com/buhari-may-not-assent-to-pigb-say-amadi-others/

How reliable is the source ? Do we really need the PIGB ? According to Bron we can bypass it.

[dr rosso] 07/5/2018 09:10

Eland Oil and Gas also conducted their entry into Nigeria under a secret 2-year project codename

[htrocka2] 07/5/2018 08:54

For those of you that have been here long enough will know all about the Santolian, Cheetah and Falcon Projects.



..and as I posted in a much earlier post....while we were struggling to secure a measly $10m deal with BP, an external source, one of our , so called consortium member who has been with us from day 1, was spending $700m elsewhere.....but not a single penny with SRSP.

[aventador] 07/5/2018 06:43

All that means so far is us paying extortionate amounts for petrol nearly £1.30 at the pumps for super unleaded shocking, i wouldn't mind if the share price was going up with it not down .

[handygandhi] 07/5/2018 05:52

Brent crude $75.50 a barrel 😎

Time to get a move on Sirius 👍

[aventador] 06/5/2018 22:06

Sooner we get clarity and news the better we can't face another 6 months of this nonsense again.
Also seems to be very few new faces on this bb and just us old timers still locked in waiting for a miracle and a chance to get out of this never ending investment.
A good rise in share price which hopefully will follow on rig update or actual progress should see some new life pumped into here finally.

[xerot] 06/5/2018 20:31

Caustic Sidney you struggle with basic concepts, anything more would blow your tiny mind. You're typing out your drivel on your 1986 spectrum computer in your pants with one lone carrot in your fridge and a well used copy of razzle under your pillow as you cry yourself to sleep, alone and afraid in this world alone.

[shez20] 06/5/2018 19:07

Brotherly love!

[kwizza] 06/5/2018 18:50

The PIGB was split into serveral parts to enable it to get through
easier due to the vast size of it all.
The first part which is is now awaiting the president to agree
has about three weeks for him to complete.
They believe that the other parts should all be ready by June.
The three other segments of the main PIB are the Fiscal Regime Bill, the Upstream and Midstream Administration Bill and the Petroleum Revenue Bill.

[xerot] 06/5/2018 18:45

They should rename this setback petroleum they've had more setbacks than Frank Spencer's Job Interviews

[htrocka2] 06/5/2018 17:57

MFDevCO... seem to have no problem getting their project up and running..






(The author believes the COSL/SRSP deal is too one sided in favour of SRSP hence increased risk on COSL's part).......maybe this is the bone contention? (there are 4 pages to the article)




(In the case of MFDevCo...Cosl were the last piece of the jigsaw (consortium member) whereas in SRSP's case, the first.

[dr rosso] 06/5/2018 16:49

Timing may be about to be clarified but it`s meaningless if they are not going to adhere to the latest schedule they dream up. Timing for spudding O2 was clarified in the AD cpr as July 2017. Such dates come and go without a murmur. Fantasy world which always has the same result.