Sirius Petroleum Share Discussion Threads

[htrocka2] 08/5/2018 14:56

o/t


The oil price will remain at current levels through 2018..

[riskybisky] 08/5/2018 13:13

Ed,
Hell Yeah!

[edgein] 08/5/2018 12:58

risky,

Yes that's because the rest of the world has been lacking investment due to low oil prices and idle rigs. Otherwise OPEC would have reduced impact on the oil price. There's going to be a lag before the majors or the shale produces can respond to fill that demand. So yeah OPEC could have a squeeze or anything that reduces production from Iran. Agree with Vene though its in a mess and I read somewhere else this morning about a major going after some of their assets in the Caribbean. So Vene is gonna struggle to get major investment in its oil and gas for some time. They're probably still trying to pay off those Chinese and Russian loans too.

Then we have the mighty SRSP getting ready to play its vital role in global oil production. :)

Regards,
Ed.

[htrocka2] 08/5/2018 12:19

'I'd say the main reason for the rise over the last 12 months is that.....'

It's been engineered by the Saudi's to enable them to sell 5% of ARAMCO....

(Trump has already complained that the price of oil is currently too high)

[riskybisky] 08/5/2018 12:01

I'd say the main reason for the rise over the last 12 months is that OPEC ++ Russia have agreed to curtail production. However rig count in USA is conversely proportionate to the price. I'm surprised it has risen this far TBH.

Another reason is the woes of Venezuela, not to mention the uncertain Geo-Political times which Trump does have a hand in.

But anyhoo, I was just being a bit over pedantic about the phrase "couldn't be better". I believe the price of oil might be way higher on friday depending on what TRump says this evening.

[xerot] 08/5/2018 11:42

come on get the news out we've been waiting 10 years for

[edgein] 08/5/2018 11:21

Risky,

Yes if you're looking at 1-2 weeks on the oil price, but it hasn't been rising this last 12 months due to Donald Trump, its been rising due to lack of investment and lack of new discoveries. The only thing that will dull this long term is another revival of the shale producers, but has their peak passed?

Regards,
Ed.

[astralvision] 08/5/2018 11:13

Excellent, top ups all round before the big day then.The sun is shining, Epe is posting, even the share price is up, happy days!

[epe dokita] 08/5/2018 11:11

I will not need to Sir.
close

[dr rosso] 08/5/2018 11:09

Except we`ve heard this a hundred times and more. Time for my 453rd final top-up.

[carrbradshaw] 08/5/2018 11:02

I love Epe Dokita

[qprallan] 08/5/2018 10:57

epe. Can you expand on that comment ?

[riskybisky] 08/5/2018 10:48

Edgein,

The price of oil will depend on Trumps announcement this evening (UK time)

Twitter: Donald J. Trump‏
Verified account
@realDonaldTrump 15h15 hours ago

I will be announcing my decision on the Iran Deal tomorrow from the White House at 2:00pm.

[epe dokita] 08/5/2018 10:35

Brothers and sisters,

Word from the waves that are things are in progress.

Bathe the sun and enjoy :-)

[htrocka2] 08/5/2018 10:33

'....last year they were planning to drill in July, the oil price was around $40/bbl'

They should have drilled last July....the oil price has become a 'double edged sword'...the increase will make it harder to get hold of a rig....we noticed this when oil was $125 a barrel... when they promised to drill 'subject to rig availability'. They've got one on paper, but that won't get the oil out of the ground.

[edgein] 08/5/2018 10:20

risky,

Yes, couldn't be better, last year they were planning to drill in July, the oil price was around $40/bbl. Now its around $75/bbl, great time to be completing mob and getting ready to spud their first of multiple wells. Let the transformation begin so that BP can get those offtake contracts fulfilled.

Regards,
Ed.

[cornishtrader1000] 08/5/2018 10:05

Pres @MBuhari will tomorrow, Tuesday undertake a four-day trip to the United Kingdom, to see how doctor. He will return Sat, May 12th. On his return, the President's 2-day State Visit to Jigawa, postponed because of the APC Ward Congresses, will now take place 14th & 15th May.

[riskybisky] 08/5/2018 10:02

The battle of the gas-sucking mega giants is set to begin -

[riskybisky] 08/5/2018 10:00

"Timing couldn't be better"??

The price of oil may climb way way higher depending on Trump's decision re Iran sanctions. I believe he will be letting the world know later today. See below:


"World holds breath for Trump's Iran deal decision"

[6cer] 08/5/2018 10:00

Is buhari in London?

[bronislav] 08/5/2018 09:49

Wonder if buhari has visited our plush new offices.?

[xerot] 08/5/2018 09:03

would be juicy if we could get on with it and make some money

[edgein] 08/5/2018 08:58

alfi,

Well their timing couldn't be better, Brent is now circa $75/bbl so its the best time to be developing Ororo in years. Hopefully they'll report on timing of completion of mob and spud date soon. Perfect timing if they can get these two development wells down soon. 4,500bopd per dual lateral is a lot of free cash flow at $75/bbl. They were budgeted at $40-45/bbl previously. Those pipeline of assets will be very juicy at this oil price. Even more upside if the appraisal/deve wells produce more than the expo well did from the partially tested pay.

Regards,
Ed.

[htrocka2] 08/5/2018 08:51

'The PV Gabon venture is remarkably similar to Sirius Ororo Project in virtually every respect'

The similarities being that COSL are also involved and the initial (missed) promise to drill H2 2017 being made.

[1alfi] 08/5/2018 08:49

Nice tick up to start the day. Come on Sirius get that spudding news out.