Sirius Petroleum Share Discussion Threads

[drrichard] 20/1/2019 22:50

Bleemster, what did you you hear yesterday? Can you enlighten us? Are we buying in to 227? If you think about the corporate plan in the recent ppt. We are two assets short of the set. One could ask why they produced such a diagram, was it an aspiration, or was it an indication of what they had, as a first step in their shallow, offshore development plan, or indeed a package of assets which could be sold? 109 and 227 would be a good place to start As geographically they are close.

[bleemster] 20/1/2019 22:33

I no doubt we're involved with 227 which gives more reasons for Srsp to lie to us.Way I see it they are juggling too many things at once and they are struggling to drill a tiny little well. If the board release news tomorrow that we're involved in 227 (which I heard yesterday morning that we are) do any of you think the share price will go up? Like 109 announcement right? I hate being negative guys I genuinely mean it but I'm only going on what the market sees the company doing.

[rod48] 20/1/2019 22:22

Like you said recently, the only thing that makes sense is if we are involved with 227 otherwise why would we let them push in.

[bumhammer] 20/1/2019 22:14

So...How do we stand tonight guys?Same position as always. .Has anything posted here recently helped in any way??I simply want to know with my £100k investment.. Wtf is going on?Can ANYONE shed any light why we are not drilling now. Simple answers please..

[vatnabrekk] 20/1/2019 13:53

Yes, HT, they had the Alp Ippon, which is an AHTS, and the Afrik Hornbill, which is smaller and I think that is just a tug, not an anchor handler. These two towed the rig up to the Cameroons and then back to its current location at OMA-3.

[htrocka2] 20/1/2019 13:11

vat...did the NDEP's 227, OMA-3 drill require AHTS tugs?

[qprallan] 20/1/2019 12:41

Well bleemster I just googled S&BJ and I was amazed at the size and quality of some pieces of Steak !!!

[vatnabrekk] 20/1/2019 09:38

Reading para 7.6 of the AD document again, I see that the agreement with Tidewater is for two supply ships during the drilling period, so nothing about AHTS vessels for towing the rig for mobilisation. So the mobilisation could be carried out by vessels other than Tidewater.

[rpat2] 20/1/2019 09:02

If this comes through all, rest assured il be bringing the pound cake lol

[vatnabrekk] 20/1/2019 08:32

Ha ha, 10-year anniversary! Who's bringing the cake?

[futureisbright] 20/1/2019 06:11

Great effort and work people. I feel, a true defining moment in our history and SRSP story. Happy Valentine’s Day. Table for 30. See you all at the ten year anniversary celebrations. GLA.

[htrocka2] 20/1/2019 00:34

'The CLN money was made available on 15 Jan. 30 days takes us to a mobilisation date of 14 Feb. That would appear to be the critical move, the trigger for this ....'


So it looks as if we got news of the rig on October the 8th,, that was supposed to come from AMNI to Ororo, hence bobo's anticipated November drill date about 30 days later ..... however, the CLN cash was late and not in place.. This is probably why NDEP were allowed to' jump the gun'.....but as you say...it's in place now.

[deadly nightshade] 19/1/2019 23:08

Thanks for info vat. Good news with Dr rosso finding out about Schlumberger 30 day payment, add that on with the 30 day what we have to pay tidewater and hopefully that would explain the cln the other day and puts a better light on that. Heres to a interesting few weeks ahead

[pipelinepete] 19/1/2019 22:59

30 day contract sounds about right for NDEP appraisal, funding timing for a shelf down payment is perfect, here's to a great week and much needed GLA

[vatnabrekk] 19/1/2019 22:47

No deadly, it wasn't on location until 15th December.I'm sure that NDEP wouldn't have been paying for its sight-seeing tour to Cameroon and back. Of course we don't know what the contractual arrangement was between Shelf and SRSP, but it's possible, I would think likely, that NDEP wouldn't have been responsible for it until it was at, or close to, its drilling location.

[deadly nightshade] 19/1/2019 22:11

If the rig does mobalize around 15th Feb will that work out around 80 days Nd will have had the rig as that article said 80 day timeframe for Nd drill. I think it was around start of December Nd took control of the rig

[pipelinepete] 19/1/2019 21:58

Rig watch :)

[dr rosso] 19/1/2019 21:50

"The agreement states that the Company and Schlumberger will discuss and agree on the rates and prices (Service Charges) to be included in work orders for each well. Schlumberger shall issue an estimated invoice for 85 per cent. of the Service Charges for the works for the first well ninety days prior to mobilisation. The Company shall make payment thirty days prior to mobilisation."


The CLN money was made available on 15 Jan. 30 days takes us to a mobilisation date of 14 Feb. That would appear to be the critical move, the trigger for this ....


"Sirius continues to work with a third-party funder on the agreement for the funding which is planned to be deployed towards the execution of a minimum work programme commitment on the Ejulebe field. It has been agreed to extend the initial 45 day period in which to complete a transaction to 15 Feb 2019."

[deadly nightshade] 19/1/2019 20:10

2 lots of 990,000 us dollars adds up to over 1.5million pounds so maybe we might have just sussed it guys

[vatnabrekk] 19/1/2019 20:08

I hadn't realised that SRSP had to pay for the vessels 60 days in advance. Things must have changed since I worked in the industry. We were lucky if we got paid for our vessels 60 days in arrears!

[deadly nightshade] 19/1/2019 19:26

i see looking back through the 2017 AD document that we agreed to use 2 tidewater vessels, which we had to pay 990,000 us dollars per vessel 60 days in advance. probably a longshot but might that be why the latest fundraise might have been required????

[dr rosso] 19/1/2019 17:19

108, owned by Sepcol and Express, is adjacent to 109 and 227. Similar situation to 109 and ripe for being picked off.



The company is expecting to produce about 50,000bopd and about 300mmscf/day dry gas by year end 2019. OML 108 covers an area of 750sqkm in water depth of 88ft (30m) in the western edge of the Niger Delta in shallow water offshore Nigeria, six miles south west of Chevron’s Meren field but reaches water depth of 700ft (213m) on the southern portion of OML 108. The block is composed of oil producing Ukpokiti field, Kunza discovery and deeper pool prospects in the southern portion of the block. The Ukpokiti field comprising of 5 (five) oil wells and 1 injector wells. Two exploration wells (Kunza-1 and Kunza-2) drilled in the Kunza discovery intersected commercial volumes of gas and condensate and will form the basis for coming appraisal, development and exploration effort.

OML 108 - Production Facilities
The FPSO Trinity Spirit serves and the primary production facility for the block and all production is processed and stored on the FPSO. The FPSO Independence was renamed FPSO Trinity Spirit. The FPSO has a processing capacity of 22,000 barrels per day and a storage capacity of 2 million barrels.

[bleemster] 19/1/2019 16:39

And again keeping the PIs in the dark