Sirius Petroleum Share Discussion Threads

[htrocka2] 05/11/2018 09:22

'So I think it is very unlikely that they are going to start drilling on some undisclosed field before Ororo starts producing.'

SRSP's past record precedes them and one can understand the scepticism to information in rns's. With regard to vatnas' comment....before the rig pulls of Ororo, no doubt the programme includes drilling up to four wells, 02, 03, 04, 05 and even possibly 06. However, for years they've been on about a 'pipeline of assets'...which implies that,like Ororo, they too may becoming towards the end of their respective Licence periods and may require drilling imminently to prevent rescinding of the fields. I'm fairly certain that once the rig has started drilling Ororo, more info regarding strategy will be released. So 'yes' Ororo is the key that opens the door to news flow.(they may even tell us the point of the new Logo)

[vatnabrekk] 04/11/2018 23:28

My understanding is that Ororo has to be drilled first because a number of things are only unlocked once first oil is achieved from Ororo, and not before, i.e.:

- Funds from BP
- SRSP recovery of funds paid out on behalf of the consortium
- SRSP gets ownership of 40% of Ororo licence, currently held on trust for SRSP by Guarantee Oil and Owena Oil.
- And something else, which escapes me at the moment.

So I think it is very unlikely that they are going to start drilling on some undisclosed field before Ororo starts producing.

[drrichard] 04/11/2018 23:03

Hi, real, the accepted wisdom on this BB is that BoD have to get Ororo to the table first. If you will, to show that they can do it. The question is how close? Rig ETA, Rig on site, spudding? After all, we have the funding, we have the partners and we have the assets. Almozt like negotiating with Michel Barnier, nothing is agreed unless everything is agreed.

[vipste] 04/11/2018 22:12

Where has $100m been ringfenced DrR? I’m quite sure it stated they were only “in discussions” where exactly have they ever said these discussions were concluded and agreed? Wouldn’t surprise me if that’s another “deal” that failed to happen with this lot.

[drrichard] 04/11/2018 20:44

Bobo has stated that assets might be deloped in parallel, or words to that effect.

[bleemster] 04/11/2018 20:38

I Second that

[drrichard] 04/11/2018 20:09

Could not agree more, xerot. But I do think it is going to happen this time.

[xerot] 04/11/2018 20:01

Just wish it would happen now. 11 years here now. Christ that is a long time.

[dr rosso] 04/11/2018 17:14

I side with Sherl0ck here. Whilst $100m has been ringfenced for Ororo FDP, I suspect that associates of REYL may have formed a consortium to make available $400m or so, ready to bring the fabled pipeline of assets (the cluster of OML 95 fields) into service once we see 2P reserves confirmed for Ororo.

[handygandhi] 04/11/2018 15:20

Once again I'm agreeing with Sherl0ck, as I also feel that fireworks are imminent
A whoosh❗ᥧ9;is what I anticipate in the very near future, but I'll leave the main announcement to the merchant of boom 💥

[vatnabrekk] 04/11/2018 14:13

As soon as the Adriatic I starts moving, we'll know where it's going and how long it will take to get there. It may not go directly to Ororo, it may stop off somewhere to get prepared. Then again it may go direct. We shall have to wait and see.

[bleemster] 04/11/2018 14:05

It's only the beginning of November, have some faith in Shelf :) if we were in mid December the. Yea maybe.

[carrbradshaw] 04/11/2018 13:59

Another Christmas looks like it's about to come and go............

[carrbradshaw] 04/11/2018 13:57

When though Sherlock, when??

[sherl0ck] 04/11/2018 13:55

With most eyes focused on rigs, I doubt the general market has noticed or grasped the implications of the critical work undertaken by the Board & Reyl this year in lining up asset funding partners.

To cost effectively secure other fields outside of any marginal bid rounds we’ll need to demonstrate and leverage operational & financial muscle - convincing asset owners to prioritise development and resulting production income in favour of large upfront fees.

It’s usually all about the money and now it seems we have this potentially on hand, alongside a ready pipeline of assets, operational strength, off-take, a revolving prepayment facility and an imminent drill.... in my mind, the first time in our history that all of these stars have aligned. Transformation and fireworks surely beckon.

[htrocka2] 04/11/2018 13:51

O/T

Data from 'LinkedIn' suggests that the 'FORCE' is still in Dubai being extensively refurbished having completed a heavy five year programme, working at near maximum capacity off the coast of Iran where the water depth is 295 ft deep.

[vatnabrekk] 04/11/2018 11:02

He needs to be struck off.

[qprallan] 04/11/2018 10:56

Unlikely he will return. He's been pushing it on many sites and twitter.

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