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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sirius Petroleum Plc | LSE:SRSP | London | Ordinary Share | GB00B03VVN93 | ORD 0.25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.40 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
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23/8/2018 12:06 | Ht Rocka, Depends on whether or not O-1 was suspended or abandoned. I reckon it was a P&A at the time. If it were suspended then yes a workover rig could re-enter it depending on condition of the hole. Since it was drilled in the 80's even if it were suspended its much safer to drill O-2. Re-entry of O-1 has never been mentioned by SRSP, not that I've read anyway. Just drilling of appraisal/developmen Sherlock, Its fine to have these theories yet I've still to see anyone suggest how SRSP with no 2P at the moment, and just funds in place to develop Ororo, funds these large acquisitions of 2P in a novel way that's never been attempted by a small company before. REYL or any other fund doesn't owe SRSP any favours. Unlikely that someone is just gonna stump up $200-500m for SRSP to gain material 2P reserves just to make SRSP shareholders rich. That all sounds fantastic, but there has to be some reality too. Now if SRSP had some 2P, say 20-50mmbbls gross depending on the results of Ororo and a history of successfully developing an asset then some of these theories might actually hold some more weight. Another Ororo is a different matter, 20-40mmbbls contingent from a discovery well that's stranded, some contingent, that's likely although its just Ororo so far. I cannot think of one company so far that got material reserves in any country without significant investment from their side. The closest comparison would be SLE and its buying of part of those Shell assets. That cost around $200m for 50mmbbls net to SLE by their indirect interest. Its not impossible for an RTO, just highly unlikely. Its certainly not something that management have even hinted at here in the last years of RNS releases. Regards, Ed. | edgein | |
23/8/2018 11:46 | Edgein, not being an oil man myself would like to know, would you need a rig to re_enter ororo1. | htrocka2 | |
23/8/2018 11:03 | dr... with ref to the extra well heads...the consensus seems to suggest that right up to 20,March,2018, the acknowledgement date of the final two well head deliveries, it was still 'all systems go'....then some 'glitch' surfaced. Within the Schlumberger 2017 results (below) that refers to starting work with SRSP there's also an article under 'Other Events' dated June 29 2017, ANYALA and MADU fields, this J/V was signed and ready to go along side the srsp deal yet also 'hit the buffers', however, that particular project finally got off the ground last month...12 months after the initial signing. I believe that Schlumberger insisted that the final well heads be 'on site' because the project was still 'live' and ready to go at the time. | htrocka2 | |
23/8/2018 10:58 | Edgein - we appear aligned in the view that we cut our teeth by progressing Ororo first but have different opinions on how Sirius will then play out and the possible timescales involved. I doubt we’ll either be developing Ororo on its own for 3 years or even have to complete the 4 wells and production facilities that comprise FFD before we can potentially get our hands on anything else. From everything I read, NNPC also appear keen to more quickly accelerate growth and kick off big projects sooner than later. A consortium of multiple service partners, a super-major no less for offtake and the possible multiplicity of project financing aligned with spv’s (AD mentions that Reyl are the ‘securitisatio Naturally we have to commence with Ororo and there’s also logic that we take some initial progressive steps first before getting our hands on the really big stuff, but I still maintain that the blueprint of Sirius and what we’ve constructed in the past couple of years points to a more concurrent development of multiple assets, which should IMO become fully visible over the next year or so. That to me is the ‘significant growth’ the Board are expecting. If I’m wrong, well it will still admittedly be good to see just one smaller field finally progressing..... but it will not make full use of everything we’ve established. | sherl0ck | |
23/8/2018 10:41 | That is interesting Ed-almost as though NNPC sees itself as a senior partner, not an oversight agency, with a particular interest/agenda in proving up assets and ramping up production. | drrichard | |
23/8/2018 10:34 | DrRichard, I don't know if you've been following COPL but worth listening to the interviews with that rotund Milhollad fella as there are similarities here (some differences too of course). But it was interesting that when they put in the FDP the NNPC contacted them to make changes. Initial field development was one well and one deviated well. NNPC came back and said they wanted changes. Now FDP for initial phase is one horizontal well and 2 to three others deviated into the other compartments/structu Regards, Ed. | edgein | |
23/8/2018 09:45 | The closest we get to the rig moving the more volume we get. Another 1,000,000 bought at .75p minutes ago. More to come. .78p on the ASK now...But can buy at .77p. Not for long though... | alamaison5 | |
23/8/2018 09:43 | Ed, the order of the long lead well-heads also demonstrated intent, as they don't come cheap, in the absence , as of yet, of rig movement. | drrichard | |
23/8/2018 09:42 | Someone's ramping up the memes https://twitter.com/ | flyster | |
23/8/2018 09:35 | I wonder if it was pressure from NNPC that made them order the wellheads for O-4 and O-5 (long lead items that shouldn't really be needed until after Phase I lpt). They however would be needed for FFD. I guess the next RNS may give us some indication of that. Regards, Ed. | edgein | |
23/8/2018 09:02 | Agreed Vatna, they've talked the talk, soon fingers crossed will be time for them to walk the walk and get first oil production. Then the pipeline and future funding becomes more believable. I reckon that NNPC will prefer to see Ororo fully developed rather than phased with elections coming up in Nigeria next year. It'll also play in SRSP's favour for licence renewal. Regards, Ed. | edgein | |
23/8/2018 09:01 | Ororo is a hub/cluster project involving 8 or so stranded gas fields (the asset pipeline). Chevron was producing oil from most of them but not economically esp since they were flaring off the gas. Sirius can function commercially by combining the lot into a shuttle operation centred on the Ororo field. Initially we are looking at proven reserves of 220mboe. Each field has considerable upside in deeper sands, which is why Force is needed. $5m was spent last year on acquiring further licences | dr rosso | |
23/8/2018 08:58 | Only £1200 left a .724 after that .746p. Interested? | alamaison5 | |
23/8/2018 08:56 | I agree Ed, I wouldn't expect them to get any more until they've proved that they can handle what they've got. In my view there will be no big announcements until they've got their shoulder to the wheel at Ororo. | vatnabrekk | |
23/8/2018 08:36 | Sherlock, You'll find that all companies raise the necessary development funding before moving to the development stage. No small cap moves for offshore development without the funding in place. SRSP's model isn't unique, COPL are arranging similar at the moment (offtake pre-financing secured apparently about to secure service contract for $100m). That isn't the point. SRSP have indeed secured funding for the assets they've already arranged to develop. Its totally different though to go back to Reyl with cap in hand and say oh by the way we've not moved on Ororo yet but could we have an additional $100m as we've spotted another opportunity. The company has said they're targeting marginals, fields that have yet to be developed. Those fields are at best contingent on proving commerciality or project funding otherwise SRSP wouldn't get a look in. There's lots of marginal, stranded and non-core fields in Nigeria and hopefully SRSP will secure some of them. But ultimately it would be nice to see some action on the one that they have fully funded at present. If they cannot secure a deal for a marginal to be drilled after Ororo then get on with the asset they have. Regards, Ed. | edgein | |
23/8/2018 08:30 | Wan to join the loser Club, lol Ken Chung 23 Aug '18 - 08:06 - 4186 of 4188 (Filtered) sammyshares 23 Aug '18 - 08:11 - 4187 of 4188 (Filtered) jimduggen 25 Aug '16 - 19:28 - 2693 of 2702 (Filtered) | alamaison5 | |
23/8/2018 08:29 | It's a fine short. | ken chung | |
23/8/2018 07:58 | Another lifestyle company being ramped by desperate alamaison5 trying to pull in lemmings so he can exit.Avoid avoid avoid. | ken chung | |
23/8/2018 06:48 | Sonic put a sock in it pal you've never been right once. Your drivel is compuphonic interferance, White noise at best and utter and disgusting filth at worst. If he could just stop playing with his Spam Javelin for 5 mins he may make a little more sense. | xerot | |
22/8/2018 22:24 | Pay day in a few days and that for sure will be my last buy.... Just hope I can get in before the rise. Won’t be a lot mind! | 1sonic | |
22/8/2018 22:20 | Forget about the rig The bod don’t seem to care about the rig. Funny old game this... | 1sonic | |
22/8/2018 22:16 | Yeah WTF rig? Smart 200+ word theories do not answer the real question. | northdown1 | |
22/8/2018 21:36 | Aventador that’s brill.... | 1sonic | |
22/8/2018 21:31 | Check out @stu1210's Tweet: https://twitter.com/ | aventador | |
22/8/2018 21:30 | Been playing for years and we haven't even passed GO yet. | riskybisky |
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