Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Once it breaks and closes above 1.20 Im pretty sure the board will liven up as that takes us into the next range
Let's hope its the bp deal
I wonder if we have a holdings RNS from spreadex incoming....
Think so ..lots of chunky buying
Buys having been flying all morning and this board is so quite. Is news approaching???
Big trades say it all. 23/06 at 8:21am 47k, 8:25am 46k. Somebody is in a hurry to load up which is a good sign
SRSP cannot afford to drill wells that is in one of the worlds best oil and gas zones producing millions with neighbours in the Sonam field about to produce 80+ mmscf and built a processing plant to handle over twice that amount. Rumour has it which i cannot confirm up to 6 companies are in talks about a farm out.
Sonam natural gas field is located in OML 91. The Sonam Field Development Project is designed to process natural gas through the EGP facilities and has the capacity to deliver a total of 215 million cubic feet of natural gas per day to the domestic gas market and to produce a total of 30,000 barrels of liquids per day. Design and engineering activities were completed in second quarter 2013. Construction of offshore facilities commenced in 2013. First production is expected in second half of 2017.
OML91 block next to us, the well results indicate a larger reserves potential than had previously been estimated with approximately 400 net feet of gas condensate pay found in each well. Two sandstone reservoirs demonstrated excellent reservoir quality during testing -- with a combined test rate 58 million standard cubic feet (mmscf) of gas and 1,900 barrels (bbls) of condensate per day, while the second sand tested at a rate of 30 mmscf of gas and 5,600 barrels (bbls) of condensate per day. Both test rates were limited by the test equipment. OML 91 is part of the NNPC/Chevron Joint Venture and contains the shallow water Sonam gas-condensate discovery, 45 kilometres southwest of Chevron's Escravos gas plant. Sonam is being developed with a single production platform, an accommodation platform, 10 wells and a pipeline to the Escravos Gas Plant. A third processing train at this plant will be required to accommodate the extra volumes. Still wondering why BP is interested.
Fantastic info, its what these boards are for. Many thanks to ALLAN1942,m you are a star! Thank you sir. Might have to find a bit of spare change for a Monday morning top up.
So SRSP have the rig between 15/07/2017----31/12/2017...Great research, I can see heavy buying on Monday
Is the 15th July an indication when they expect it to arrive?
I emailed Infield and within 30 mins got this reply: Hi Allan. Thanks for getting in touch. Is she an old friend of yours, perhaps? I'm not our rigs expert, but as far as I can tell from the below, she must have been laid up for a while. Based on the below data cut, the Power is now en route Nigeria to start her new contract with Sirius. Id Contractor Status Contract Type Location Start Date End Date Dayrate(US$k) 8747 Sirius Petroleum Firm Contract Future Nigeria 15/07/2017 31/12/2017 8748 COSL Mobilization Current Nigeria 15/06/2017 14/07/2017 4281 PTTEP Firm Contract Completed Thailand 08/08/2013 02/09/2014 Have a great weekend! Nic
I tried to buy and sell. Buy 0.91 and sell 0.86. Could be most buys today are shown as sells
a great deal done today but all sells....
Happy Friday ! Another day closer..
Confidence
Having had a look at all the current partners in the Vendor Finance Consortium it is apparent everyone involved is in agreement to delay invoicing which illustrates just how confident they are about a successful drill. The yet to be announced fourth partner may be the only one whom requires up front payment for their services. The BoD may already be in discussions with this partner to persuade them to join the Vendor Finance Consortium. In tandem they are also in discussion with BP with this regard. Now BP may look at this as an opportunity to build a stake in SRSP with the view of looking further afield due to the close relationship SRSP have with Owena Oil & Gas (OOG). OOG have an 80% stake in OPL 241 which is purported to have 1.8bboe and 400mmboe recoverable resources. Whilst OOG may not have the wherewithal to develop this field, BP certainly does, which can mean only one thing. BP are interested in the license held by OOG which is next door to Lekoil's GIGANTIC producing OPL 310 block. OPL 310 has 9bboe resources. Keeping the above in mind it may suggest that there will be no requirement for a fourth partner as BP will surely not let this opportunity pass. Aimo dyor & GL
Constructive criticism, yep, DYOR. All our partners, some not yet announced, will not all accept delayed invoicing. Pre payment, in some form, is key for us to finally progress within this industry GLA
My understanding is that the BoD will pay BP via an off take agreement rather than the partners of the Vendor Finance Consortium if the deal with BP is agreed otherwise we will remain with the current structure of delayed invoicing. This does not detract from the fact that we are funded to drill the well. I welcome any constructive criticism
Wonderer did you read my post and the RNS Again, from the RNS. "BP regarding an offtake and pre-payment facility to support the financing of the Company's proposed drilling programme on the Ororo Field in Nigeria."
Anybody got any views on this post from the other board ? Watch in the morning from around 7.30am the ask will change a few times as and when the mm's decide on the ask price upon open. LSE AND advfn you will see the ask change as and when they position the price. Level 2 is a great tool.. The following mm's closed as follows today: PEEL .95 @ 16.55pm SCAP .95 @ 16.50pm CSEP 1.05 @ 16.51pm STFL 1.05 @ 16.46pm WEST 1.05 @ 16.46pm WINS 1.10 @ 16.57pm ........ This was the last one that closed.
Here we go again.... Why would there be a placing... We have Vendor Finance in place... Off-take agreements and delayed invoicing... Which means we are fully funded for the drill... The BP tie up is to provide funds probably in return for equity... The rig is on its way and we will probably be told once its arrived.. A couple of weeks to set up and off we go drilling... As I previously stated SP in stuck in a channel... So will move up and down which some will trade... Miss the breakout and you'll struggle to buy in again... Aimo & GL
If SRSP does not pull off the following , we can clearly assume that a placing is on its way. Many have been here far too long and could do with the uncertainty. "BP regarding an offtake and pre-payment facility to support the financing of the Company's proposed drilling programme on the Ororo Field in Nigeria."
And we could have BP or Rig news tomorrow or days. My point is I'm taking a guess just like yourself. Here is an opportunity to get in sub 1p.. any sort of BP news and this will go mental and you won't get in sub 1p. All imo