Sirius Petroleum Share Discussion Threads

[x1000] 17/5/2015 15:39

Have spent the last few hours reviewing my "investment" here...and conclude that this ratatouille has been a long time in the making, not sure how long is left to cook it but all the ingredients are there for a very tasty dish.

[dr rosso] 17/5/2015 15:08

There are no delays, no licence issues, no ownership issues. Block asset #2 is the star prize and all preparations, onsite and funding and shareshifting, have been leading up to handover. Ororo is 1/10th the size and is an introductory feature. The present crew has no interest in oil production, hence the contrived stalling. BG is the new operator, BTG has the offtake, Havoc manage the fields.
First up is project STF for a % hive-off of Asset #1. Calvet and Nima are merely fronts for the main bodies ahead of a cash + shares offer.

[4ceer] 17/5/2015 13:47

Maybe they have blagged us all along about ownership of assets and at the end of the day relying on the Nigerian backhander system to see them right.

[sherl0ck] 17/5/2015 13:39

share_cruise has your research thrown anything else up on Calvet? One assumes it's Fry or Regan.

[share_cruise] 17/5/2015 13:14

Sherlock exactly, there's also others sat on a paper loss who are also involved, buying either in the open market or through a placing

[x1000] 17/5/2015 12:47

Is the delay due to getting bigger and better ?

[sherl0ck] 17/5/2015 11:39

JP bought into a 9p placing, AK spent £80k buying 2m shares at 4p, Directors have deferred substantial salaries etc, so it's not all awarding themselves options. Sure, they're independently wealthy and could therefore cope with a wipe out here much better than most of us, but I'd say there's still quite a lot at stake here, particularly with regards to reputations that have been built up over many years.

[sherl0ck] 17/5/2015 11:29

One school of thought is that if Sirius were clearer with what's going on, the share price would be much higher than sub 1p.....which leads to the questions of why would they want it low, who benefits and how? It's admittedly completely counter-intuitive to what an ordinary O&G company would do. They release information, increase the share price and raise money on the back of this. We seem to do the opposite!

[chris shiherlis] 17/5/2015 11:28

Share Cruise the difference between us and the management is we had to go out and sweat for the money to buy our shares they simple award themselves the shares. Working for a shilling certainly focuses the mind not to waste it, they wouldn't know about this though.

[chris shiherlis] 17/5/2015 11:24

Sherlock well why can't they explain to the market what they have been doing with our money for three years? It is how they go about things that is really bad, it might work out really well but how they have operated is awful. Mr Bean is your real name Rowan?

Sherlock there is nothing to cross reference the significant 2p reserves to as we don't know what they are, is it the same block, different block? We are still in the dark and hence the market has not reacted due to not enough detail and the fact we have not farm into it so we don't own it.

Its like say the next door neighbour has a load of money in the bank, it doesn't benefit us, there has to be a link to allow value to flow our way.

[share_cruise] 17/5/2015 11:23

I think you are forgetting that those involved here have a lot at stake. The management and Corvus hold a huge amount of shares and it is in their interest as well as the investors to make it work. For the havoc and other parties their interest is proving up the resources and securing a deal. They have a proven track record in this industry and this share follows the same story.

Yes investors are most likely sitting on a loss but if this were to fail then the management are sitting on an even bigger loss. Sirius are in a good position and the terms of the finance can make a massive difference to the end price, which in my opinion is why it has been shelved a few times. The Calvert loan was a way of buying into the company outside the open market and a boot filling exercise imo, do you really think they would want shares in a failing company?

[mrbean5000] 17/5/2015 11:17

I don't know the answer to that question Chris, but like you I still hold shares here in the hope there is a master plan being played out which we shareholders are not privvy to. My real name is not Mr Bean ;)

[sherl0ck] 17/5/2015 11:16

Chris - I'd say it was more than a passing comment on the block. Compare 21/6/12 RNS with 1/5/15. "Significant 2P reserves" is an absolutely huge hint. How do they know this without doing very extensive work behind the scenes for 3 years? Why do the work if we can't benefit from it?

[chris shiherlis] 17/5/2015 11:10

Mr Bean, I assume that is your real name? Why go through 5 failed deadlines to state we can't get funding if they didn't want it in the first place, wasting shareholder money and time by issuing these pointless RNS'S?

[chris shiherlis] 17/5/2015 11:08

Point 10, I can only account for myself and I am not giving these people another bean and haven't bought for a very long time.

With regard to the other points, who knows as they don't tell us what is going on. Pure guess work.

[mrbean5000] 17/5/2015 11:08

One must conclude they didn't want that funding in the beginning - BINGO!

[chris shiherlis] 17/5/2015 11:07

Why can Lekoil mention this asset but we can't?

June 2012 this asset was first mentioned, now nearly June 2015 and we have had no other actual update on this asset other than a passing comment about this.

Bick emailed another investor not long ago saying they were glad the funding for Ororo had fallen away, why is he glad he failed to complete a job he was assigned to do or the company was? How long will the Calvert loan last and will they come back to the market for another loan on these dire terms?

Without adequate funding these sort of companies cease to exist.

[chris shiherlis] 17/5/2015 11:02

Like someone else before if they wanted the money for Ororo like they claimed to have done, which I believe was a complete lie why didn't they issue the full amount of 25-30 million in shares when it was 3-4pence.

Now they can't raise the money like that as they have totally stuffed up that line of funding.

One must conclude they didn't want that funding in the beginning.

The way this company has been run has been nothing short of appalling.

Telling the investors they need money but continually coming up short for a few made up reasons is not good business practice and something that needs looking into.

[sherl0ck] 17/5/2015 11:02

Lekoil were only looking at 1% of OPL 241 initially. Now there's not even any mention of this on their very latest investor presentations, so it isn't completely clear whether it still figures in their plans. Even if it's still on their agenda, there's no reason why we can't work with them.

[arabelle22] 17/5/2015 10:56

I was in bhr too.that same scenario seems to be playing out here.however politics in nigeria and the drop in oil price probably was main contributor from the drop from 3p to 2 p.seems to be going wrong since.