Sirius Petroleum Share Discussion Threads

[mr roper] 08/10/2018 22:53

Aaaaaaaaaaaaarrrrrrrrrrrrgggggggggggghhhhhhhhhhhhhhhhbbbetttterrrrrlatethanneverrrrrr!

[astralvision] 08/10/2018 21:59

All depends if we're customer 2 or not, I don't think anyone can definitively say one way or the other.

[dr rosso] 08/10/2018 21:54

GSF Adriatic I MLT 116-C Angola Contracted Apr 07 to Apr 09 $180k


Day rate of $180,000 ten years ago


More recently, Conoil, Mike Adenuga`s Nigerian independent, was operating the rig from Oct 2017 to Dec 2017 offshore OPL 290.

[dr rosso] 08/10/2018 21:35

West Africa
Adriatic I MLT 116-C 350 AMNI Nigeria Apr 2018 to Sep 2018
Customer 2 (TBA) Nigeria Oct 2018 to Nov 2019

Commenced contract with AMNI in April 2018. Customer has option for one well.
400-day contract with Customer 2 (TBA).


The point here is that since March/April, there has been a contract in place for the Adriatic to kick off the Ororo drilling campaign commencing in October 2018.
All the stuff about Power/Force for O2 has been shown up as complete baloney. Hot rig my ass.

[htrocka2] 08/10/2018 21:28

some seem to strike good deals...






(but then again...it was a PSC deal)

(JIC Capital Management does not own rigs...but Cosl does)

[astralvision] 08/10/2018 21:24

Doesn't minichris' post of 85158 supersede his post of 85141 and indicate that it was not SRSP in 85141 post link and that, as minichris suggests, we've been squeezed in and/or timings have changed.There would seem enough doubt in the matter not to be hard and fast.Strikes me as more likely the deal with Shelf is relatively recent as the frustrations with COSL grew.

[aventador] 08/10/2018 21:22

The rns again is cleverly worded abrogate the deal not cancelled if as such, and does not clearly mention the new rig is a replacement either.So they terminated by mutual agreement the cosl rig maybe for initial drill and the other rig is in Nigeria for quicker start to the program.Very tricky firm this so many twists and turns who knows what each day could bring.Onwards and upwards though I'm sure much more to come.

[deadly nightshade] 08/10/2018 21:21

dr rosso you always said the power and force were to over spec to drill a shallow well like ororo, and i can remember months ago postings on this bb saying adriatic would be more ideal as it was close to ororo

[htrocka2] 08/10/2018 21:14

'Shelf Drillings specializes in shallow water offshore drilling, providing of equipment and services for the drilling, completion and workover of offshore oil and natural gas wells.'

'......and natural gas wells'

[dr rosso] 08/10/2018 21:12

To answer an earlier question about where the deeper sands 13k psi came from....

Extract from the 2015 agm:- Summary of Bobo comment .....

3 months to mobilise the long lead items (which we were told have been secured) and then a 45 day drill program. But that doesn't stop the work and announcement of the other fields running parallel.

The guarantee problem was due to them being greedy, they wanted minimal cost to just re enter the old chevron well. Havoc looked at this and based on surrounding fields and the huge pressure at the bottom of the well (13,000 psi) they have planned a development drill using higher grade rigs etc. Guarantee were against this for some bizarre reason but we are told there is no legal issue. However working with a partner who isn't cooperating isn't ideal, let's hope once drilling starts they start to smile. Recovery in Nigeria is normally over 50% so higher than other areas, also the high pressure in the G4 sands? Mean the reserves could easily go up

[dr rosso] 08/10/2018 21:07

Re. post 85213, the discovery was by miniChris, not me. See 85141

[htrocka2] 08/10/2018 21:03

Shelf Drilling is the world’s largest contractor of independent-leg cantilever jackup rigs by number of rigs. We are headquartered in Dubai with rig operations across four core operating regions – Southeast Asia, India, West Africa and MENAM (Middle East, North Africa & Mediterranean). Our strategy is to maintain a sole focus on shallow water drilling services and leverage decades of industry experience and an outstanding track record to provide best-in-class drilling operations for our customers.

Shelf Drilling is:
- A market leader with dedicated focus on jack-up operations and fit-for-purpose business model
- Geographically diversified with a long-term commitment to our existing footprint
- Committed to safety and operational excellence
- Focused on building strong long-term relationships with customers and suppliers
- Led by an experienced team with proven industry leadership

Shelf Drilling’s dedicated focus on jack-up rigs, geographic diversity, safe operations, customer relationships and experienced management team make Shelf Drilling the preferred choice for customers, employees and stakeholders


ps
I was impressed with DR's stat....however, the round £50k purchase price suggests it may just be a coincidence as opposed to a specific order.

[vatnabrekk] 08/10/2018 20:47

Dr.R: In my view that is a significant discovery (your post 85213). Brilliant!

[vatnabrekk] 08/10/2018 20:46

@bron: "is it plausible that COSL would screw up with a rig when so much is at stake."

I don't believe that anyone has screwed up at all. I believe that it has all been carefully crafted, it's just that we poor muppets have been fed a load of bull. But why, I have no idea. I cannot see what anyone could have gained by leading us all down various garden paths, but it certainly seems that that is what has been done.

And that is more or less confirmed by Dr.R's discovery of the Adriatic I contract above (post 85213).

[dr rosso] 08/10/2018 19:53

Sounds like Adriatic is being deployed to kick off the Ororo campaign, with COSL`s Force appearing on the scene at a later stage when that kind of high spec rig becomes a drilling requirement. Several posters have anticipated this development, using 2 rigs. Nor would I rule out Force being utilised on a different field(s) altogether.

[bronislav] 08/10/2018 19:52

Significant plan undertaken in my view ,3 year licence was what was required time wise to get all infastructure ,asset appraisals etc ready for end game...
Let's be realistic ,COSL are a puppet of China's state oil company ,is it plausible that COSL would screw up with a rig when so much is at stake.

[deadly nightshade] 08/10/2018 19:42

i wonder where mr roper is today? arghhhhhhhhhhhhhhhhhhhhhhhhhh

[aventador] 08/10/2018 19:40

Plus was mentioned two rigs possible by some, whose not to say they use the new one for ororro then announce the pipeline for cosl to drill that would be a huge rocket up the share prices ass, 32 percent up today on just news of a new rig imagine what could come with even more mind blowing news. Gla maybe our time has finally come.

[dr rosso] 08/10/2018 19:39

Something disturbing. It appears that Sirius drew the Adriatic contract up in March 2018. The stuff they have been fobbing us off with about Power and Force set to drill O2 has been pure fabrication. Not least that neither rig was equipped for 8m shallow water, and with no intention to drill sub-G a $90k per day HPHT high spec drilling rig was a massive overkill.


Here is the article from March which confirms the Nigeria contract, although the name Sirius has been omitted, substituting "different customer". Amni was the operator from April.

In addition, the Adriatic I completed the Conoil contract in February. It is expected to start a contract for three firm wells plus one option well from an unnamed company in April. The rig also secured a 400-day contract with a different customer, which is expected to begin in October. Both contracts are in Nigeria.

03/06/2018




Above is American, hence it is March, not June. Seems that they have known all along that Force was a no-goer to kick off the Ororo field, and that they have fed us a load of guff for the last 7 months, having already contracted the standard Adriatic 1 jack-up.

Just what are this bunch playing at?

[twodegrees] 08/10/2018 19:31

Dr Rosso, explain your coded buy theory.

[bronislav] 08/10/2018 19:20

Ruedolf .who says COSL are gone,all the rns ,carefully constructed by the masters ,says is that the COSL force is not drilling ORORO.......ADD TOP NOTCH specialists were out in Dubai instructing COSLjust what was needed for a five year drilling campaign in the NIGER DELTA.Why would Sirius less than two weeks ago in the rig update go to great lengths to detail just what was needed on the rig to bring it up to spec.It is obvious Sirius Knew that another rig was or had been sourced at that point.