Sirius Petroleum Share Discussion Threads

[pipelinepete] 14/2/2017 10:26

So with an Npv of about $50m and possibly another 1-1.7b shares does that mean we will only be around 1-1.5p a share until after ororo drill?

[sherl0ck] 14/2/2017 10:00

The Company said first oil in H1 and it's only February so talk of delays seems premature, especially when the Dec 16 RNS also talked of raising working capital to help with 'accelerated activities' in Nigeria. Whilst we'd all like to see revelations on partner 4 and funding stuff asap, it's completely possible that this might not actually kick in until after Ororo drilling, which is clearly key to unlocking so much.

[htrocka2] 14/2/2017 09:53

18th July 2016

The Company is pleased to announce that approval has been granted by the Federal Ministry of Environment regarding the Environmental Impact Assessment ("EIA") which covers the drilling of 3 wells on the Ororo Field and the installation of wellhead platforms




There's no point in starting a drilling campaign if certain parts of the project are not ready....how long do you think it takes to design, construct and test a well head from inception?...the ONE below took 18 months,...we want at least THREE of them.(and that's if the yards are not already booked up with other orders)

(To drill by H1 from the inception date of July 2016....is a very tight schedule....give them a break.)

[bronislav] 14/2/2017 09:28

carr. May I suggest you ask the source that told you news by end of january ,maybe they would answer your question.My own thoughts are that everything is in hand and the company are working to a schedule as stete by bobo when he said he would be putting things in place to bring all plans together.

[carrbradshaw] 14/2/2017 08:51

Rubbish - why haven't they announced it yet - something's holding this up.

[carc] 14/2/2017 08:30

So what's the wait for? Feb 27th?

[dr rosso] 14/2/2017 08:23

Yes, all 4 signed up and the announcements are in reverse order to the signings.

[xerot] 14/2/2017 07:58

Useless firm. When they gonna get on with it?

[bronislav] 14/2/2017 06:52

Question arises ,WHY would a company ,armed with a teaspoon be even considered or trusted with a very large elephant. An elephant that hasnt popped its head out of the jungle recently but likely came charging out of the jungle during the delsigma suspension...All four signed up ,statement from the company saying oil in H1..4 months to deliver .no excuses.

[htrocka2] 13/2/2017 23:32

Just a thought......We waited for the long overdue AGM date, that was finally announced together with the 27th Sept rns below. SRSP were already in an 'initial' discussion stage with a single Vendor Finance proposal before the 'other two 'joined the party. It just seems ironic that the AGM date, that required the passing of a specific number of 1.7bn shares was probably as a consequence of the 'initial' Vendors Proposal. The shares were part of the first deal.


27th sept.
Outlook
International oil service providers are offering turn-key services, equipment and personnel to finance low-risk development projects. The Board has now received a further two proposals from multinational service providers following the Company's initial vendor finance proposal.....'

[sherl0ck] 13/2/2017 22:01

29/6/16 - "During the period, the Company's focus has been on reviewing the opportunities available to the Company, both in terms of assets in Nigeria and the optimum financing and long-term strategy for developing those assets."

How on earth do you tackle and digest a large elephant when you're armed with little more than a tea spoon? I sense that's been pretty synonymous with the problem we've faced over the years. Much better to align yourself with those who have the expertise, the tools and a massive appetite to take on this challenge.

The RNSs are very clear regarding our strategy and the route forward.

[aventador] 13/2/2017 20:04

Yep pitch forks!!!
No oil or sale again this year will unacceptable end of!!!

[aventador] 13/2/2017 19:39

Bore off idiot.

[bumhammer] 13/2/2017 19:10

Pitch forks again?

Yeah they must be terrified.

Idiot.

[1alfi] 13/2/2017 18:59

For services already incurred DrRosso ?

[dr rosso] 13/2/2017 18:51

522m shares have been specifically set aside for the oil service providers. A thank you gift. Of course they'll be distributed. What's the point in allotting them otherwise?

[aventador] 13/2/2017 18:15

Recon we gotta wait until march until things hot up as the news deadline approaches!No oil by June it will be pitch forks again.

[drrichard] 13/2/2017 15:52

Agree, Bron. The BoD flagged it up for a reason. Given their propensity for very long term planning, and it has to be said, kicking the can down the road, it could be for anything. As you say, a safety measure

[bronislav] 13/2/2017 15:03

Drrichard .there are still a possible 1.5 billion.It seemed a pointless resolution at the agm if they dont intend to issue them.Unless the shereholder approval to issue up to 1.7 b was as some sort of safety measure.

[drrichard] 13/2/2017 14:45

as long as it comes with an upbeat update, or the RNS we have been awaiting I can live with that Brom.

[bronislav] 13/2/2017 14:40

Suspect some more dilution waiting in the wings.

[donald trumpton] 13/2/2017 13:54

In recent months many have seen 400% here - and taken it! Hence the current pullback.

Which of course, is a fantastic opportunity to re-load.

[swiz73] 13/2/2017 11:29

hoping for a bit more than 100% gain, after all the frustration of the last few years.

[solarno lopez] 13/2/2017 10:59

I wonder what this latest delay is all about.

Clearly this share is one for the brave the very brave