Sirius Petroleum Share Discussion Threads

[bronislav] 08/10/2018 09:59

Astralvision...at last we can totally forget about the force and chasing the HLV,S....

[minichris] 08/10/2018 09:58

Interesting contract details on the Adriatic 1 -





Adriatic I MLT 116-C 350 AMNI Nigeria Apr 2018 to Sep 2018 Commenced contract with AMNI in April 2018. Customer has option for one well.


Customer 2 (TBA)Nigeria Oct 2018 to Nov 2019


400-day contract with Customer 2 (TBA).

[minichris] 08/10/2018 09:55

Good job they are not drilling sub-g.... yet

[dr rosso] 08/10/2018 09:50

Rig operates to a depth of 25,000 feet, so may be an HPHT unit. But BOP stack specifies 10,000 psi.
Ororo sub-G is 13k


JackUp
High Spec
Premium
Standard


Force was high spec. Adriatic 1 is standard. That means it cannot go into the deeper sands in accord with the schedule detailed in AD

[minichris] 08/10/2018 09:47

BOP Stack 13-5/8 in. x 10,000 psi WP BOP stack, with two (2)
Cameron Type U double ram preventers and one (1)
Hydril GK 13-5/8 in. 5,000 psi WP annular preventer

[dr rosso] 08/10/2018 09:47

The problem is that the market continues to regard this Co. with scepticism. This contract abrogation is the latest in a long line of terminations. The official announcements relating to field drilling operations are little more than wishful thinking exercises by an entity which is clearly not in full control of events. Today`s rns raises a question mark about COSL? Is this Chinese group still part of the consortium, and has Force rig been completely ditched as far as the big picture drilling campaign is concerned.

Nonetheless the market has reacted favourably, the share price currently showing a 16% rise. With Adriatic 1 presently located just 12km offshore Port Harcourt, no Somali pirates to contend with on the short hop along the coast. Presumably, with shore work in hand, the Ororo farm out area can now start to receive some attention

[vatnabrekk] 08/10/2018 09:41

The Adriatic I is not new, built in 1981 and refurb in 2014. Does anyone know if this is a high pressure rig?

[astralvision] 08/10/2018 09:40

Excellent news this morning, hurrah!

[sherl0ck] 08/10/2018 09:36

‘The Board continues to appraise opportunities to farm into or acquire high quality assets located in major proven complexes leveraging on the Group’s arrangements with its range of operational and asset funding partners.’

I’d say our ability to leverage further improved this morning.

[bleemster] 08/10/2018 09:36

Well technically and unusual for me to boost Srsp is that technically we're in the boat as if the rig was mobilised today in Dubai... 30 days travel for the rig to align with our local rig.See it as a very positive

[bleemster] 08/10/2018 09:10

very strong resistance and support both sides

[aventador] 08/10/2018 09:09

12 percent rise is better than we usually see usually it drops on any rns's.Once rig is confirmed ready and drilling which could be mid late Nov only a matter of weeks we should be well over a penny again at least hopefully a lot more.

[htrocka2] 08/10/2018 09:01

'Sirius has sourced and signed an agreement with Shelf Drilling Limited'

Doesn't sound like a 'drill first, pay later'. deal.

[vatnabrekk] 08/10/2018 08:57

One could perhaps be forgiven for expecting a much bigger rise in the share price on this latest rig news, but the reaction so far is probably an indication of the level of credibility that the market is prepared to give to anything that the BoD says now.

[bronislav] 08/10/2018 08:42

Rig in Nigeria ,PIPELAYING vessel in Nigeria .final lap.of the ten thousand metres.

[htrocka2] 08/10/2018 08:38

It would be nice to know what the deal is with this rig?

[htrocka2] 08/10/2018 08:27

'As Dr.R says, what about the $1.5M paid to COSL?'

They've obviously been in talks with each other since the beginning of the year and COSL no doubt wanted to alter the agreement to a PSC...srsp declined, the $1.5m will be attributed to mooring fees as a consequence of the failed negotiations delay....forget the $1.5m...but don't forget the salary the directors are paying themselves.

[x1000] 08/10/2018 08:16

Is this morning's RNS more smoke and mirrors?

[vatnabrekk] 08/10/2018 08:13

As Dr.R says, what about the $1.5M paid to COSL?

[htrocka2] 08/10/2018 08:11

'I'm not holding my breath over Chinese money'

That's one partner srsp are down..

[pipelinepete] 08/10/2018 08:10

Did someone say the rig triggers other events? What will the rig trigger?

[vatnabrekk] 08/10/2018 08:06

I'm not holding my breath over Chinese money.

[kwizza] 08/10/2018 08:05

Perhaps this way around to comply with licence for the field before it runs out

[vatnabrekk] 08/10/2018 08:04

Funny that, I was watching the Adriatic I on AIS earlier this year when she was moored in Lagos. Currently at Ailsa Craig offshore terminal between Port Harcourt and Eket. Been there since April, I think. So not far to go to get to Ororo.