Sirius Petroleum Share Discussion Threads

[drrichard] 17/9/2016 15:46

You guys any thoughts as to the relative merits of Cantor F vs Cairn, vis a vis SRSP?
CF are bigger, of course

[bronislav] 17/9/2016 14:08

Sherlock ..bobo said last year that he would be setting out certain things that would not only bring short term plans (ororo)but all our plans together (pipeline and others).My take is that all the events of the last 12 months were predetermined and had a timing attached.It is my opinion that we are close to the unfolding of the plan and although we may not see big bucks straight away ,there will be a specific prices that they are working to .ie 2p the initial rise which fits with the ororo valuation once reserves are booked.One would assume the CPR alone is not enough and the licence would also be a requirement alongside an off take deal..Given schlumberger is the likely driller and they are to get monies back from oil flow then the off take deal we have with what used to be BTG may well be for gas alone .

[bronislav] 17/9/2016 13:54

6cer ..looking back at the reasons for the delsigma deal not going ahead seem a tad ambiguous.sirius were suspended for a long time.It was the powers that be that scuppered it if I am reading the rns correct and yet here we are all these years later with ororo still not drilled and those powers that be being very patient with us ..I am only speaking from memory when I say I think Sirius has the right to go back in on ke field but as I say it's from memory so may be wrong.With all our potential seemingly around ondo state I had discounted the delsigma stuff .

[sherl0ck] 17/9/2016 13:49

Frustration is completely understandable but it's time surely to look forward instead of backwards. The newly shaped Board have set out a serious of steps that should lead us to funding and it actually seems like we're ticking some decent things off along the way.

[sherl0ck] 17/9/2016 13:12

If you take a cautiously pessimistic view and completely ignore all the talk of a significant asset pipeline, possible JVs or takeover and only consider Sirius raising £20-30m of debt to drill 3 wells on Ororo, you'd still have to say it's a great investment case, particularly at these low share price levels.

The stated facts as we have them are that earlier this year we already had multiple funding proposals on the table, the Board were confident, an independent CPR was required as a major step to close funding and various licences and regulatory elements were to be undertaken in Nigeria.

Since then everything has thus far come to fruition and we now just await confirmation of financing. There's no guarantee of course until the paperwork is signed, but with more than one option to choose from, I'm curious why it seems some holders appear doubtful that they'll pull this off.

Funding confirmation and signed up contractors means our 2C resources become booked 2P reserves, hence a rerate on our NAV. Even a single drill combined with those deeper sands and we'll get an updated CPR. Exciting times.

[6cer] 17/9/2016 11:13

Bronislav - what became of the Del Sigma opportunity ? Are you suggesting that Sirius has some sort of option on it or has it been developed by others ?

[1alfi] 17/9/2016 09:54

Bron - what money is backing ninogas ?

[bronislav] 17/9/2016 09:03

Drrichard..no doubts in my mind that the cantor change could of been included in the loan and CPR rns ..Two rns,s within minutes of each other ,when do you ever see that.Company would have known about the cantor change well in advance so not a last minute change without the time to put it in the CPR rns..

[drrichard] 17/9/2016 08:45

That is a very interesting thought, Bron. You might have thought that any conflict would have been spotted early in any DD discussions. Does it suggest that we are getting into bed with a "late" suitor?
Or, they knew it needed doing, but left it till the last minute, till they were sure?

[bronislav] 17/9/2016 08:38

Sirius definately tried to bury the cantor rns .4 or5 minutes before the loan and CPR rns.
So for what reason would we need to change our advisor.Legalities may well,what determined that our advisor had to change .Conflict of interest with other parties.?
Pipeline of assets will need serious amounts of capex to fully develop .Would anyone have sufficient confidence in Sirius to deliver that capex .We all agree this is not just about ororo.Is it just Sirius that are involved in this pipeline or has there been other groups involved since conception.?Very strange how the delsigma deal was mothballed .What was really talked about in that delsigma suspension.Tune in next week for another week in the ever diminishing timeframe of Sirius a minnow about to become a giant.

[1sonic] 16/9/2016 22:54

Super/granny shut up for once! You saddo...... You've not been that intelligent have you......lmfao!!! You might want to cancel your short....

[superhuperdrugdealer] 16/9/2016 22:17

Take the hint then stupid and take whats left of your money :)

[carrbradshaw] 16/9/2016 19:11

Here, bloody here!!

[drrichard] 16/9/2016 17:50

Agreed Cornish. Yet again WRN holders are kicked down the road, until November. I can accept WRN holders wanting to put cash in SRSP but, for my money, that is as far as the relationship goes.

[cornishtrader1000] 16/9/2016 17:35

Lets hope that any potential link with WRN was some random rumour started with no credibility.

[sherl0ck] 16/9/2016 11:58

Test was successful.

[herman_m] 16/9/2016 11:15

Good spot Minichris. One Bed & Isa looks to be for £14k so almost full allowance used up there! Got to be a very positive sign.

[cornishtrader1000] 16/9/2016 11:07

Pretty obvious b&i id say

[solarno lopez] 16/9/2016 11:07

hahaah lost my hearing aid

[carados] 16/9/2016 11:06

So that must be positive then :-)

[minichris] 16/9/2016 11:04

Really Sol, you cant spot a bed and ISA? 2x at that.