Sirius Petroleum Share Discussion Threads

[dr rosso] 25/10/2016 13:30

Sounds likely to me, but they'd need an EGM for several reasons, not least approval to change Co. status.

[htrocka2] 25/10/2016 13:27

'..tho hardly think there'll be much of interest in the agm notice'


Unless we go down the SOUND route...therefore the proposed shares would have to be allocated.




'In exchange the Company has agreed to grant Schlumberger an option, exerciseable at nil additional cost at any point during a six month period following the completion of a well test and the declaration of a potential commercial discovery at the Badile licence, to acquire a 20% net profit interest in the Badile licence.

James Parsons, Sound Energy's Chief Executive Officer commented:

"Following the early success at Tendrara, I am delighted to reveal the first of our funding solutions for Badile whereby Schlumberger gain access to a 20% profit interest in the licence in exchange for funding 30% of the estimated cost of the first well and 20% of all costs thereafter.

[deadly nightshade] 25/10/2016 13:26

tree shake happening i rekon that 1 pound share buy might have been a call for more shares

[dr rosso] 25/10/2016 12:48

07.00 alarm call reset, tho hardly think there'll be much of interest in the agm notice

[solarno lopez] 25/10/2016 12:48

hahahah sorry MC but you are way off the continental shelf with this

[minichris] 25/10/2016 12:44

Fair enough, did fit the description very well tho.

[solarno lopez] 25/10/2016 12:36

ok but its nothing to do with me

[minichris] 25/10/2016 12:36

Boredom! Was curious so went and researched it.

[solarno lopez] 25/10/2016 12:30

Not sure why you have highlighted me for this MC

[solarno lopez] 25/10/2016 12:18

Sher your second paragraph is interesting.

Many fields have been drilled and plugged for a variety of reasons and not always because the well was dry. often the core samples are stored in Edinburgh ready for re-analysis.

I was involved with a field (which will remain nameless ) about 4 years ago which had been drilled way back in 1985 by Philips with interesting results but they had other fields of greater interest.

The field was re-examined with by shooting 3d seismic and boy the results were outstanding.

New and up to date methods are assisting exploration

[aventador] 25/10/2016 12:05

Problem is the amount of time it's taken and cost to the pi in dilution and seemingly no progress the re rate for some needs to be huge and that's just to break even! What have these sloths been doing all these years? Beggars belief!

[dr rosso] 25/10/2016 12:01

OPL241 in the process of being converted back to OML97, a far more attractive proposition.

[sherl0ck] 25/10/2016 11:49

In my mind there simply has to be other assets that are central to discussions & negotiations around project funding. I doubt 3x multinationals are here purely for Ororo and whilst the deeper sands in particular offer potentially interesting upside, vendor financing is normally strictly focused on proven/probable resources that have already been drilled and which can be produced & sold, hence the more limited focus of the CPR.

We know that 241 has been drilled previously and so this would also be a good candidate for funding on the back of a similarly produced CPR. The question then is what do we need to do to secure the asset? How much farm-in fees would Owena require if we have a special relationship with them and we're organising all the funding and sevices? What involvement would the DPR have in approving any transfer and perhaps reassigning OPL back to OML rights? Maybe these are some of the wider issues we're working on, the resolution of which will result in definitive funding agreements.

If this was only about Ororo, you'd have to imagine that the completed CPR itself (on the back of the renewed licence, EIA etc) would have been enough to trigger project funding by now. The longer this drags on, the more complex it appears to be and the greater the level of interdependencies that need to align together.... but also potentially the greater the funding on offer, the greater the kind of partners associated, the greater the assets involved and the greater the resulting share price re-rate should be.

[solarno lopez] 25/10/2016 11:36

Mmmm down to interpretation but hey who cares so long as they issue the RNS otherwise I will get snitty and throw a hissy fit so there !!

[dr rosso] 25/10/2016 11:34

Well, if VAST is correct, the Sirius agm notice can be issued 2moro........



Tuesday 25 October, 2016
Vast Resources plc

Board Changes and Notice of AGM

VAST Resources plc, the AIM-listed mining company with operations in Romania and Zimbabwe, announces that its Annual General Meeting ("AGM") will be held at 2.30pm on 16 November 2016 at the offices of Paul Hastings (Europe) LLP, Ten Bishops Square, Eighth Floor, London E1 6EG.

[pipelinepete] 25/10/2016 11:30

Bum I hope it didn't dislodge mr Neals toupee

[bumhammer] 25/10/2016 11:27

Apparently, a mile wide piece of space debris has fallen through the roof of 42B and administration work has been delayed by a week

[solarno lopez] 25/10/2016 11:24

Oil companies can spend £500k in the blink of an eye

But do agree they are unlikely to go pop

[pipelinepete] 25/10/2016 11:19

Agm delayed - the agm will now be held on Friday 18th at 10pm at stringfellows :)

[drrichard] 25/10/2016 11:17

1sonic, quite.
And Sol, I agree. Everything points to imminent news.

[1sonic] 25/10/2016 11:11

Sol, not going bust they just raised £500,000