Sirius Petroleum Share Discussion Threads

[potholepete] 18/5/2015 10:10

ropot

Ophir are in the E&A game. Their strategy is to find good prospects using their expertise in 3D-seismics, get the appraisal done and then sell of large chunks (up to 80%) to others to fund more E&A. They have shown that they are not interested in morphing into a full scale production company. Sirius fits this scenario like a glove. Look at the various presentations on their website.

[ropot] 18/5/2015 09:55

I recall it being suggested that several parties could be interested in our assets. If Ophir end up buying us, what's the likelihood of Ophir then being taken over by a bigger player? Ophir people have been buying their own shares, maybe they are expecting an share price increase from assets acquired from Sirius, or from a subsequent takeover? Could also tie in with a cash + shares offer, in that Sirius would be happy to accept lots of Ophir shares, expecting further gains through them. I don't know much about Ophir, are they likely to want to sell up, or are they happy being a (larger) producer?

[sherl0ck] 18/5/2015 09:45

Ophir & Sirius

5 key names were formative in establishing Ophir - Alan Stein, Jonathan Taylor, Matthew Clarke, Mo Ajami and Jan Kulczyk. Is it complete coincidence that 4 of these have already been officially linked with Sirius and the fifth has recently taken a fairly decisive action that 'might' be linked somehow? Will those who built Ophir originally, join together again in instigating Ophir's entry into Nigeria?:

- Merlin Partners have been Ophir's financial advisor from the outset. Merlin's founding partner, Matthew Clarke was a seed shareholder there and has been fundamental in securing funding for Ophir (including the initial involvement of Polish billionaire Jan Kulczyk). He's worked alongside Alan Stein & Jonathan Taylor for years, and both he and Alan currently sit on the Board of Bahari Resources, one of the Havoc Partners' other projects. On 25/11/14 we found out that Merlin were appointed as Sirius' financial advisor, but it seems they're actual involvement precedes this as they advised on the Havoc TAC appointments.

- 16/10/14 RNS outlines the appointment of AS & JS from Havoc as part of our technical advisory team. With 5 experienced partners, it's relevant that only these two are specifically appointed - since they're the two founder/exec directors of Ophir from 2004/5. Alan Stein moved to the deputy chair role upon the appointment of current CEO, Nick Cooper, and the two worked closely together until Alan left to establish Havoc. After Alan's departure, JS worked alongside Nick until he also moved across to Havoc.

- 7/11/14 RNS highlights potential convertible loan from a Dubai based investor. A couple of weeks later this is revealed to be Levant, the vehicle of Mo Ajami, another Ophir seed investor and long term collaborator of AS, JT, MC etc

- 29/4/15 Ophir curiously announce their longstanding seed investor Kulczyk has sold his entire £80m Ophir holding and within 24 hours this is placed elsewhere, thus showing it was planned in advanced. Questions as to why he would sell all of a sudden now? Does he have any involvement with Ophir/Sirius/Nima? Will his money still be utilised somehow?

Sirius has Ophir written all over it.

[chris shiherlis] 18/5/2015 09:36

Omzy nice calcs

[thundercat1] 18/5/2015 09:32

I think we've finally sussed it good work guys just sit back now either buy more at this crazy price or await the final pay day, been a very clever scam which on the short of it has left a lot of us on paper losses but when the 50p pay day comes all will have been worth it.

[omzy] 18/5/2015 09:23

Ophir have 40,858,062 shares in treasury. Add on to this 56,607,366 returned from Kulczyk and reach a total of 97,465,428. Issue another approx 27,297,200 new shares for a new total of 124,762,628

Multiply 124,762,628 by 10 to accomodate a 10-1 share deal and that gives a total of 1,247,626,280 - that is enough to satisfy Sirius's current share capital of 1,247,624,356

[sherl0ck] 18/5/2015 09:07

My personal and completely unsubstantiated view is that the K money could well be used for this purpose and may have been withdrawn precisely to be put on the table. It's odd that after 10 years he sells his entire Ophir holding now, especially when prospects for the business look good. He knows Ajami, Merlin guys, Havoc people really well, so I'd be surprised if he wasn't also involved somehow. More on that shortly......

[omzy] 18/5/2015 08:54

Sherl0ck

"In return for funding at a project level/large farm in fees, Nima/Ophir grabs a large chunk of our shares at rock bottom prices and benefits from the expected massive uplift."

Could it be that Kulczyk £79.3 mill will be used for the farm in fee ?

[chris shiherlis] 18/5/2015 08:52

Spot on Sherlock. This is whats happening just painful in the mean time.

[sherl0ck] 18/5/2015 08:39

Re: 33393 - Interesting thought. The Calvet share grab deal feels so bad for us small shareholders that it just must be hiding something very important to final deal facilitation. So maybe the Board haven't actually done us the disservice that we imagine.....we just might not ever find out what has really gone on behind the scenes.

Mutual backscratching could be central to the negotiation of a deal as two parties unite. In return for funding at a project level/large farm in fees, Nima/Ophir grabs a large chunk of our shares at rock bottom prices and benefits from the expected massive uplift.

It explains exactly why the Board needed the share price so low - it's not solely just about saving Calvet £8.4m compared to a straightforward 330m share deal at 3p, it's also about maximising uplift for others. With our share price sub 1p and potential t/o price of 50p+ I've wondered why the suitor doesn't start buying on the open market - they won't get many, but it all helps. The answer is maybe they just don't need to.

Sirius then ultimately gets a cash/shares takeover offer and thus a portion of our own return is based on the expected uplift in the suitor's share price when the market digests the deal and P2 numbers.

Suitor gets a chunk of Sirius shares at an ultra low price / suitor starts buying a chunk of their own shares while the price is low and deposits them into treasury to be later used as part of the takeover transaction. I could see this all happening.

[granitetim] 18/5/2015 07:53

Hold on to the dream boys!! Buy more stock...it's a once in a lifetime opportunity to pay someone's salary and get nothing back.;)
What's not to like ? ;)

[thundercat1] 18/5/2015 07:31

There simply is only two ways this will go sell off or under, with the big players involved and work put in so far after all this time surely they won't see it fail now.No production in sight clear that it is a vehicle to be sold off let someone else do the dirty work.As said with no timescales put it could be anytime really and the share price is meaningless until we get the final offer and endgame RNS.

[granitetim] 18/5/2015 07:26

It's not a job ..But hey! You guys know everything obviously..Just look at your stock choice ;)

[chris shiherlis] 18/5/2015 06:55

This latest batch of shares is to grease the wheels of whatever deal they are working on i am sure.

Been thinking about it all day and i think these shares will be distributed to the new company to make the buying price cheaper for them, they get a slice of the share price increase if there is a farm in and we get a partner/buyer.

The shares to Jupiter firm are likely for arranging the finance for the new firm.

You have to try and piece it all together but it is not easy.

I think they will be bought but not for a good few months.

Those calvert shares are door openners, potentially to ajarmi and other important cogs.

[share_cruise] 18/5/2015 00:44

Havoc Partners is pleased to announce its entry into a number of new investments within Africa, North America and the Caribbean. Since Havoc's inception numerous opportunities have been reviewed, with several identified as having significant potential for growth. Havoc has committed to those companies with a combination of strong management and an exciting asset base. Havoc is confident that through a combination of its financial and technical support that significant value can be added to these typically, early phase exploration/development projects.

[share_cruise] 18/5/2015 00:41

hxxp://www.havocpartners.com/images/PDF/The_Times-Western_Sahara_1_December_2014.pdf

Interesting read

[htrocka2] 17/5/2015 22:22

'There are no delays, no licence issues, no ownership issues'


beginning to sound like one of SRSP's rns's

[drrichard] 17/5/2015 22:15

Surely do hope so, share-c raise. It would be, to understate a la Bron, most welcome

[share_cruise] 17/5/2015 22:08

Dr Rosso, very close to the mark

[dr rosso] 17/5/2015 21:51

Simply by releasing the true reserves figures from Ororo, OML95 tie-ins, and OPL241, the share price would hit double figures and a £100m mcap.

By releasing further info about all pre-production work and being at the brink of first oil, we'd move to 15p.

But how does the inner circle grab 330m + 45m shares if the share price is 15p?
ITK ISA-types would've got 100k instead of their 1.5m @ 1p

If there really were issues, exit on the 15p hype, pile out.

Instead they seem to be piling IN.