Sirius Petroleum Share Discussion Threads

[bronislav] 19/7/2015 18:28

Does the gooner want the block?

[thundercat1] 19/7/2015 16:42

Nice summary Sherlock looks like we still got a good few rnss to come before the biggy I would say.

[ropot] 19/7/2015 16:24

Sherlock, plenty of interesting info when it's brought together and summarised like that!

[sherl0ck] 19/7/2015 15:03

Some observations from the PR article:

- whether you consider it a poor attempt to pacify pre-AGM or a step change in approach in advance of long awaited positive news, the article and its timing is significant because it represents the very first time I can recall (certainly on Proactive Investors) that Sirius has been on the PR offensive. All other articles have simply been highlighting RNS info, whereas this is a broad précis of where Sirius is up to. It isn't just a hack job in response to an event and appears to be proactively initiated by the company. It's timing potentially aligns with the recent signing of Havoc's definitive agreement
- mention of a $20m two well programme. A year ago it was $25m for one well. We're clearly taking advantage of Havoc's drill expertise & lower O&G service costs to potentially save $30m. $20m for two wells delivering 8-10k bopd would be a great result
- more detail of Ororo-2 drill, particularly useful to know that just 250m extra depth takes us into the deeper sands which have excited the Board. Plus the 2800 bopd were flowed from just two of the 7 oil bearing sands identified on Ororo-1 (RNS 10/12/13) so lots of good upside potential
- References to surrounding fields - clearly helps to have a good relationship with Chevron and utilise Schlumberger & Havoc's expertise in reinterpreting & analysing parallel data
- confirmation of oil flow potentially unlocking revenue based lending (possibly from BTG), thus accelerating additional £ for further field development/other farm-in fees
- which analysts estimate 14-15 years of 8-10k bopd and why hasn't this info been more widely released? Is it part of the CPR we know was conducted but held back? Either way, the numbers suggested on Ororo don't add up. 14-15 years of the anticipated daily volumes equates to a much higher figure than 10mln barrels
- another tantalising hint of the block. Combined with the multiple formal references in recent RNSs after a long absence, it does now seem that something has happened this year to pave the way for this asset
- 100mln barrel reference seems like planted info as despite what the piece says, this number hasn't really been seen on bulletin boards. Gulf/Chevron likely knew about 100mln nearly fifty years ago, so it's a very conservative, safe reference that gives a sense of scale but critically doesn't reveal the truth too early.
- confirmation of a JV partner approach and an interesting snippet that there could be separate partners for individual assets (we know assets are held in individual subsidiary companies), albeit I'd be amazed if one is happy to take on Ororo without the block. Winner takes all in my book.

[chris shiherlis] 19/7/2015 09:55

Masters of Disaster lol

[x1000] 18/7/2015 23:45

I don't believe they are motivated by the desire to pacify shareholders pre agm - no more than any other smooth operators. Whatever is going on the bod are masters of confusion.

[x1000] 18/7/2015 23:45

I don't believe they are motivated by the desire to pacify shareholders pre agm - no more than any other smooth operators. Whatever is going on the bod are masters of confusion.

[htrocka2] 18/7/2015 23:15

I don't mind them confiscating weapons or recording devices...what worries me is that by the time the Resolutions have been passed, they will also have confiscated some of my shares.

[ropot] 18/7/2015 22:58

I bet everyone's going to get frisked for weapons before being allowed in, wouldn't surprise me if they confiscate recording devices as well, lol.

[htrocka2] 18/7/2015 22:18

rod it's too far away from me...but it would be nice if some one could get a phone/camera/video recording...and post it onto this site.

[rod99] 18/7/2015 20:49

Htrocka are you attending the agm

[htrocka2] 18/7/2015 20:15

ropot

this is 10 months old...


Commenting, Bobo Kuti, Chief Executive, said:

"We have made significant progress with the Further Funding required to develop the Ororo field and in securing funding partners who we believe can support our strategy to build the asset base of our portfolio. It is our intention to conclude this Funding and we would like to thank the Placees and Subscribers for their continued support, as we move to complete the process of putting our first marginal field into production, which is presently targeted for Q1 2015."



It sounds as if they're making a funding deal with the Greek Government?
(yes I know a lot has happened on paper since..PTG, Havoz ,blah, blah ,blah).......but the reality and bottom line is that they're going to issue nearly 40% of extra shares ....and, yet again, with the promise of near term oil. In the Ist May rns, they promised they would not further dilute the shareholder. (they've caught us again). The last rns was a 'sweetner' to get a permit for the extra shares to be issued by the board)


OIL.....I'll believe it when I see it....NOT when they promise me it's coming.

[ropot] 18/7/2015 18:20

That Pro-Active article, which some people suggest has been "planted", does come across as being quite neutral to me. As you say, htrocka2, it's vague in terms of timescales, and also in their assets.

The RNSs that we've had do actually point to much more significant things than the article, such as the mention of "pipeline of assets".

Additionally, the AGM agenda also has lots of detail about forthcoming issuing of shares... in fact so much detail as to almost be trying to put off investors.

So I don't really agree that the recent press articles are to try and drum up more interest with investors just to offload shares to, in order for the insiders to subsequently buy back cheaper. If that was the case, it would have been a lot more exciting. It does appear more like information being put out there to try and pacify anyone going to the AGM, and possibly downplaying anything more exciting if they don't want the share price to start rising significantly until after the forthcoming (pocket-lining) share issues have taken place.

[htrocka2] 18/7/2015 18:04

"We are hoping to be able to achieve production by the end of this year, but more likely early next year.”

why the doubt in between the two statements?....

[ropot] 18/7/2015 17:41

re: "The company are still pursing this crazy idea or notion of oil production, load of nonsense in my book."

Whichever way this goes, they can't really release an RNS saying, "We've done all we're going to do, now we're just twiddling our thumbs until a T/O appears".

[steelwatch] 18/7/2015 14:20

Long gone from here, but good luck to holders:

[chris shiherlis] 18/7/2015 01:35

Slider I catch your drift my friend.

The company are still pursing this crazy idea or notion of oil production, load of nonsense in my book. The dates for first oil gets pushed back and back.

Yes there will be oil but not via us.

[slider27] 18/7/2015 00:09

Chris i dont think News will come pre AGM as still got to get the Resolution passed to issue the rest of the Shares/Warrants to Havoc and co at mates rates.
September is always a nice month to smell a stinking tail of a fish trying to escape the great White that want to eat it !


GL

[chris shiherlis] 17/7/2015 23:45

I think we'll see some news pre agm or these guys will have a torrid time of it and I think they are too clever. I think that is why the AGM was moved back to accommodate whatever news that they have been waiting for. Otherwise why bother moving the AGM? Move the AGM, get the news out, easier ride for them at the meeting, that is the only logical conclusion.

13 trading days to news, hold onto your hats.

[chris shiherlis] 17/7/2015 23:43

Just got to be patient, its a case of when not if with this lot.

Keep the faith. Good things will happen.

[slider27] 17/7/2015 23:36

Thanks Bron/Hermann for your comments
I am part of the AIM Walking dead and so down to the bone but something tells me this fish has started stinking from the tail not the head
If the tail starts stinking again with a megashare giveaway to Insiders at > 2p then gonna chuck in all my last bones

GL guys

[drrichard] 17/7/2015 22:29

Chris, I agree. Bobo starting to seed the media talking of production late Q4/Q1 means drilling in q3 early q4 I reckon. Prep work starting before then of course. Not much time to start the ball rolling if that is the case