Sirius Petroleum Share Discussion Threads

[shez20] 24/8/2018 10:50

It was hot tooled up ready to go in a few days back in March Astra! There were no worries about its workload back then

[astralvision] 24/8/2018 10:41

I think we can take it that the recert process was not a simple box checking exercise, otherwise srsp would not have sent personnel over there and the vid they showed at the agm indicates it's a lot more than checking if yer brakes and wipers are working.It sounds to me like the rig had been worked hard and required works to pass the 'MoT'. That all fits with the limited amount of knowledge we have.The good news is we should have a superb ready and modern rig capable of an extensive drilling campaign and that should be 'soon'.

[shez20] 24/8/2018 10:38

Vatna it is only a few posters on here speculating that they are still on with the re cert! I personally don't buy it! It is something else that is causing this delay and probably the same thing that caused the April delay! Like you say a update to its shareholders would not go a miss but I think even bobo is becoming hesitant to peddle our more rubbish as its doing his credibility no good whatsoever

[astralvision] 24/8/2018 10:37

VatnaI guess they can stretch summer till end of September and I also guess that perhaps they don't want to release anything until there's something more definitive to say other than recert still ongoing, drill q4/ whatever etc etc.I agree that some sort of update is over due.

[dr rosso] 24/8/2018 10:37

Recertificatio is a simple checking process, equiv to an mot.

Refurbishment is an overhaul.


There has been no news update confirming the latter. As usual, we are left in the dark.

[vatnabrekk] 24/8/2018 10:31

I really don't see why they can't give an update, especially when they are so far off the latest reported target. They can't claim that it's commercially sensitive information. In fact, I would have thought that they ought to be obliged to release some kind of update because such a major delay must surely be considered to be share price price sensitive at least in the short term.

[shez20] 24/8/2018 10:26

They were two weeks into it and stated it will be done in the four weeks! If they were going to come across issues to the extent of them still working on it now these would of already of been known about at the point of this statement!

[astralvision] 24/8/2018 10:24

No one can be sure how long a recert takes, all depends on what they find, although some updates would not go amiss.

[greatfull dead] 24/8/2018 10:22

Swings and roundabouts re what happens during a "programme of critical equipment recertification." Structural damage to critical equipment footprints on rig and so on!!!

Now I must really go.

ATB,
GD

[shez20] 24/8/2018 10:07

No we got told we was two weeks into a four week re cert on the 7th June! No more communication to its investors since

[astralvision] 24/8/2018 10:02

SRSP, 7th JuneOh sorry, 'critical equipment recertification', I've shortened that lot to refurbishment.

[drrichard] 24/8/2018 10:01

SRSP did, DrRosso on 7th June
Senior Sirius operational personnel have now joined the COSL team in Dubai where the COSL Force is currently stationed and have commenced a programme of critical equipment re-certification.

[dr rosso] 24/8/2018 09:57

"As has been said, refurb is happening in Dubai"


Who said?

[greatfull dead] 24/8/2018 09:49

Ed and Astra,

Dubia, should not be a problem. Good time of year too. It just down to the tow time from Dubai to the offshore Benin area where the drilin will take place. Plus the weather conditions during the tow.

Go to go.

ATB,
GD

[astralvision] 24/8/2018 09:39

Thanks for your comments GD.As has been said, refurb is happening in Dubai. Hopefully they are near the end of it.If the He Kou is our hlv, then it would make sense that the rig sets sail soon as, on the face of it, it was diverted to Dubai empty and ain't going to want to hang around for too long. Seems a coincidence we've got a cosco vessel sitting in the same harbour empty. On the other hand there is also Rui Kou due in Fujirah UAE tomorrow, so perhaps that one will be our hlv.One would like to think one of them will be!

[edgein] 24/8/2018 09:23

GD,

The recertification process is happening in Dubai at present. We're waiting for rig mob after that. When is the question. Late summer according to Bobo for drilling, well its pretty late in the summer now, so who knows.

Regards,
Ed.

[greatfull dead] 24/8/2018 09:19

astra,

I my work experience the completion date refurbs on Jack-up drilling rigs all depends on where what country, the refurb contractor is doing the work and weather conditions. If it happening in Nigeria IMHO there should not be too much of an impact to the refurb completion schedule, though its the rainy season there at present.

hxxps://www.naija.ng/1128716-months-rainy-season-nigeria.html#1128716

It also depends on what has come to light during the refurb ops. Damage to the rigs hull, rig legs, the rigs machinery and drill equipment may not have been found in the initial 3rd party inspection of the rig. Lloyds, ABS, and other 3 party insurance surveyors groups are only human after all. They can miss things the same as you and I.

ATB,
GD

[vatnabrekk] 24/8/2018 09:15

Sadly, bleemster, it's probably the true situation nevertheless!

[bleemster] 24/8/2018 09:11

No Allen, just me giving a bit of morning humor :)

[shez20] 24/8/2018 09:04

Brilliant qpr! Problem with that statement is that people having been saying it for many a year! Proof is in the pudding!

[qprallan] 24/8/2018 09:01

Shez - I dont belive anyone investing at this price will be trapped in as the general opinion is that all is about to change. IMO the current price is a good time to get in

[bleemster] 24/8/2018 09:01

[S]orry [R]ig [S]till [P]ostponed

[astralvision] 24/8/2018 08:54

investors are fickle things and sentiment can change very rapidly, both ways.If srsp carry out their plans all will be fine but no doubt they're making a meal of it.Rig must surely be close to refurbished, sorry, 'recert' by now. He Kou just waiting?

[shez20] 24/8/2018 08:53

The last thing I want to do is ramp this share up to some poor soul and they get trapped in this like the rest of us with a bod who think they are unaccountable to its shareholders