Sirius Petroleum Share Discussion Threads

[ropot] 22/6/2015 14:57

Yep, "When?".

Small word... big question.

[colonel custard] 22/6/2015 14:42

Lot of buying today on that news, it's a one way ticket just a question of when it will happen now Imo.

[colonel custard] 22/6/2015 14:40

What happened to lights out , havoc have agreed a contract people willing to take the shares so they can't be worthless hey, just a waiting game until they lift back up again I think you'll find.

[colonel custard] 22/6/2015 13:25

Wrong thread droopster

[the drewster] 22/6/2015 12:57

Greenlands Estate Holdings Ltd

Difficult to find anything about who these people are, but they managed to rack up £800,000 worth of services to Sirius?? Not easy to see where these fees were accrued in any accounts, so were they all this year??

No worries, no cash drain, just convert to 100,000,000 new shares, but only give them 40% and make the other 60,000,000 conditional!

Then they've provided, or arranged, for £100,000 working capital loan (for a whopping £100,000 drawdown fee), so issuing another 20,000,000 shares at effectively 0.5p

After the 40m, plus some unspecified number of the 20m, they will hold 53,358,958

Why introduce another party when Calvert were issued squillions of shares to set up a facility not so very long ago? have they said "no more cash"??

And who are Greenlands and who is behind it?

Yet more smoke and mirrors, so it must all be good.

[dr rosso] 22/6/2015 11:52

22 Feb 2010

Sirius (AIM:SRSP) is pleased to announce that it has entered into an acquisition and joint operating agreement (the “AgreementR21;) with Del Sigma Petroleum Limited (“Del Sigma”) for development of the Ke marginal field

Del Sigma have incurred substantial historical sunk costs on the Ke Asset and, as part of the Transaction, Sirius has agreed to make initial payments to Del Sigma amounting to US$2 million which will be paid as to US$500,000 on the signing of the Agreement, US$500,000 following a successful visit by the DPR to Sirius’s operations and US$1 million within 5 days of the DPR’s final approval of the transfer to Sirius of the 40 per cent interest in the Ke Asset.



This is the historical "agreement" referred to in today`s RNS. Greenlands (private Co. in Nigeria) have taken their fee in shares for their part in extracting Sirius from the contract in favour of the bigger current deal

[htrocka2] 22/6/2015 11:48

ropot... 'This suggests more waiting...?'

Havoc will only have 36 months from August to exercise the 100m warrants at 2p. You can bet your life their strategy is in place and they're ready to go.(and I doubt they'll leave this until the last day)

[dr rosso] 22/6/2015 11:47

The key point about this RNS is that all those who needed to be loaded up now have their shares secured.

[solarno lopez] 22/6/2015 11:42

I tend to agree with your assertion

[markmewerds] 22/6/2015 11:42

Great news Havoc have fully agreed terms and are taking warrants at 2p tells me as much as this statement does:

Commenting, Jon Taylor, of Havoc, said: "We are pleased to have the opportunity to assist Sirius to develop its portfolio in a world class petroleum province. Our geotechnical evaluation expertise will compliment Sirius' strong relationships and position in Nigeria."

Have Bought again this morning @ 0.07784

We are about to board the ship my friends !!!!

[htrocka2] 22/6/2015 11:22

They'll not wait another year. OML95 and OPL 214 are at the centre of the entire Nigerian oil Industry...too important to keep on stalling. President Buhari, as the new oil Minister, will push this agenda forward.

[ropot] 22/6/2015 11:07

Dr Rosso,

Can you clarify this sentence in your post last night: "Seismic analysis will go on for another year to turn current $20bn NAV into $30bn NAV once fully developed."

This suggests more waiting...?

[htrocka2] 22/6/2015 10:56

Chris.... or a Zimbabwean $

[1dsk] 22/6/2015 10:43

Thanks DrR for clarifying.

[htrocka2] 22/6/2015 10:38

It's good news. The Havoc website did hint that they were still on the case.. The balls rolling, let's not knock it. All involved are happy to take shares. What ever story the SRSP BOD have given the creditors, all seems to be convinced and have swallowed the given proposals hook line and sinker. That's good enough for me...(just imagine where the share price would be this morning if the rns stated that Havoc had pulled out and thrown the towel in?)




some idea of the potential monies involved...(and note the Chineese are funding a port expansion)

[chris shiherlis] 22/6/2015 10:23

A dollar, lets hope its not a Turkmenistanian Dollar.

It costs 35 million dollars to buy a Egg there, if you are thinking of emigrating think about Ukbekistan instead at least their still on the charts.

[dr rosso] 22/6/2015 10:22

Anything beyond 2.3bn fully diluted puts our dollar at risk.

The £800k fee relates back to the Del Sigma termination in 2011, in lieu of a huge penalty that otherwise would`ve been paid. It`ll be the same ppl as behind Taglient. All roads lead back to Ondo State, where this venture originated in 2009, 2 years before Sirius was brought on board to see it through. These ppl now get there shares by the extra million due to the low share price

Meticulous orchestration. Is that it now, all vip shares in place?

[chris shiherlis] 22/6/2015 10:19

Pretty obvious what that RNS means but I will let you creatures ponder it.

[dr rosso] 22/6/2015 10:18

Operates out of Lagos. This looks like the final dilution for those bootfiller Nigerians.

[mrbean5000] 22/6/2015 10:05

yeah it's odd that £800k in fee for 'historical services' - I'm sure it will show up in the annual accounts, completely legit etc