Sirius Petroleum Share Discussion Threads

[aventador] 21/3/2017 08:44

A lot of us will kick ourselves for not buying more as one day this will explode and that's that.Current share price although rubbish and frustrating is of no concern until they disclose everything into the open they cannot value it and ppl are still wary to buy.Clock is ticking though and news will have to appear this or next month at the latest to stay on for h1 target.

[htrocka2] 21/3/2017 08:35

A couple of good posts Jenny, unlike some here, I class you as an honoured long term holder.

I believe the current share price levels are nothing to worry about. As some have suggested on these boards it may be related to the final 'share shuffling' prior to the off. The COSL contract was signed in early November 2016 yet from the outset bobo declared that drilling would take place in H1...which could be as late as June. Obviously the arrival of the 'lead in' components must have been a factor...and no doubt all parties have to agree on a synchronised start date. That all said, my current concern is that in the past twelve months nearly 1bn extra very cheap shares have been issued to 'new and existing shareholder'....that's nearly 50% of the company....and not a single 'holdings' rns as to where these shares have ended up?...which tends to support the 'shuffling' theory.




ps...Jenny,the winning line's in sight...and one more fence to jump, it's been a long race, don't fall now.(I've mentioned this before, but many years ago, I bought into AHT that had collapsed to 2p (7p for outsider to buy...and bought £12k worth but sold at 100% profit...the share is now about £16 each....some times you have to leave things to instinct and intuition...trust me on this one...you're on a winner.)

[bumhammer] 21/3/2017 08:09

Nature of the beast Jenny.

Some may read between the lines and be shrewdly topping up, while others may feel like yourself and watch from the sidelines with a more cautious outlook.

When D day comes, I'm sure many will be on here claiming they wish they had topped up when it was so cheap, but fear got in the way.

[pipelinepete] 21/3/2017 08:05

Pull the other one Jenny, keep buying, I won't tell, promise x

[jenny tulwought] 21/3/2017 08:01

Pipelinepete,

I admire your optimism but mine has waned.

Granted, there have been encouraging RNSs recently, but what substantial effect
have they had on the SP? - which is now where it was after the third partner was announced. January's jump was not sparked by a New Year RNS - and there have been no RNSs of any substanace since.

It mystifies me how you could consider my concerns mystifying.

[pipelinepete] 21/3/2017 07:38

It 100% will Xerot.Jenny are can't sleep either, I wet myself with excitement. How your worried about this share after the last 6months rnss is mystifying.Get ready for boom, very shortly eeek

[xerot] 21/3/2017 06:18

Two months to get everything out in the open and get to oil production. It won't happen in that time frame unless they have been a bit naughty with the news releases to date.

[drrichard] 20/3/2017 23:26

Good posts guys. Excellent.

[htrocka2] 20/3/2017 23:02

I agree that ORORO is the key that opens the door to the other assets, however, you must remember that the BOD have been very careful how they've referred to these assets..ie, block 1, block 2, the Field, Sirius 2012 ltd. Ororo is the only asset that has been given it's full designation in that it's an OML, (an Oil Mining Lease) . The bod did state that they could move on and drill other assets as soon as Ororo was completed.....so presumably some of these assets are also OML's, however, we also know that 241 is as yet still an OPL, hence will not be the next to be drilled.(if they have an interest in 241 via Owena....as we all assume)

[pipelinepete] 20/3/2017 22:45

One rns states we have access to assets that majors don't - it didn't state we have access to oil production or debt facilities or services, it said assets.The fourth partner wants the assets not an offtake or whatever else or a cozy consortium.The fourth partner is a buyer, an equity holder, an asset owner, they want the assets that we can get that they cant. An asset grabber.Ororo unlocks the other assets, the deposits have been paid, ororo is sorted, the other assets can now follow and the fourth partner will appear and srsp will disappear.It's that simple, the plan is unfolding, pens are scribbling and bobos smiling.That's what I think.

[openfield68] 20/3/2017 22:10

It does suggest that the company is not cash rich having to mortgage (reverse base lending) the family jewels (ororo) in a bid to pay for future operations. What have they had to mortgage to pay for Ororo, or have they just been raising cash through consecutive share issues?

This is how they described the sub prime market collapse:

It was triggered by a large decline in home prices after the collapse of a housing bubble, leading to mortgage delinquencies and foreclosures and the devaluation of housing-related securities.

If you swap the words 'home/housing' with 'oil', it does make you think.

Let's hope they find Dr Bakare Tunde soon....

[htrocka2] 20/3/2017 21:41

The JOA can be a 'mine field'......but as you suggest, Schlumberger are not here just for just for Ororo 'sprat'. They'll use SRSP to get their foot in the door for larger fish.

[sherl0ck] 20/3/2017 21:31

Rather than wanting Sirius shares, wouldn't any consortium member much prefer a split of the project equity (I.e hydrocarbons / supply / resulting revenues etc) across ringfenced assets? In the grand scheme it's the significant oil & gas and chance to provide ongoing services that has attracted the participation and potential funding from any partners rather than making a bit of money on Sirius' shareprice upside. The JOA will define the actual split across assets.

Schlumberger were much more interested in taking an actual stake in Sound's key asset rather than securing Sound shares.

[htrocka2] 20/3/2017 21:21

"advanced discussions to finalise the participation"


'Really? That statement suggests absolutely nothing is set in stone.'


Yes and no..... presumably the final element, if it is the 'project funder', he'll no doubt want a few shares for his 'investment'....hence a slice of the company. This is the much preferred route to Bobo's Zak Mir's video on October 2015..that future funding would be based on 'Reverse Base Lending'....in effect mortgaging the Ororo Oil to fund the next project.

[drrichard] 20/3/2017 21:16

Openfield, I did not mean doable, in the sense it might not be possible, but more in the sense that Bobo indicated that the development, or possibly, even access to theses other assets, was successfully bringing Ororo in. As Black_red alluded to above.

[openfield68] 20/3/2017 21:05

Really? That statement suggests absolutely nothing is set in stone.

[dr rosso] 20/3/2017 21:00

"advanced discussions to finalise the participation"

Pretty clear from this that No. 4 is already partnered up and will appear on the scene
when it is required to be involved. Sounds like funded sorted for next-move after Ororo

[htrocka2] 20/3/2017 20:54

'Nigeria is the 12th largest oil producer in the world, with the largest natural gas reserves in Africa and is currently second largest producer of natural gas after Algeria, according to the US Energy Information Administration (EIA). The country is also ranked seventh in terms of proven natural gas reserves in the world. Oil experts say there is a lot more gas in Nigeria than oil.'








It's just a thought and probably meaningless, however, is it possible that the reason the fourth member is currently withheld and in such prominence over Schlumberger that it may be connected or give an indication of SRSP's final take over entity?

[cornishtrader1000] 20/3/2017 20:40

Ororo the front door to the rest of the 95 block which then becomes a front door to other blocks.

[1sonic] 20/3/2017 20:38

What is so special about "ororo" and why does it unlock other assests? Why have they spent so much time getting Ororo over the line?

[openfield68] 20/3/2017 20:32

Two questions:
drrichard - is Ororo not yet proven doable? Could that be a reason why number 4 has not appeared or why no drilling has started?
drrosso - but why after all this time and waiting for the revelation of number 4 does it suddenly become reasonable for number 4 not to show his or her hand?

[1alfi] 20/3/2017 20:28

"Vendor Finance Consortium
Following the execution of the agreement with Schlumberger, the Company is now in advanced discussions to finalise the participation of the last member of the Vendor Finance Consortium"

Ambiguous - already signed up and just requiring the finalising in what manner the fourth member will participate?

[dr rosso] 20/3/2017 20:18

Pressure seems to be on from FGN to operationalise a gas masterplan which would fuel power stations and a range of industrial complexes from mid-2017 onwards. Oil may be of secondary importance in the multi-well campaign. But surely both can be produced together? I'm inclined to agree that No. 4 does not need to show its hand at the present time, esp with initial costs covered, but will be appearing in association with 5-year block development plans to be funded.

[sherl0ck] 20/3/2017 19:54

BoR - why do you say gas then oil? Wouldn't it be much easier to quickly monetise the oil from the EWT of G sands first? Rockflow suggest O-2 will focus on G oil with commingled gas from D4 & D5 via a separate drill.