Sirius Petroleum Share Discussion Threads

[htrocka2] 30/6/2015 10:22

From Pro-Active Investor..(this morning)


'We feel that time is running out to some extent for this management team, and inaction is no longer an option...Company needs to disclose its forward plan..'


Sirius Petroleum (LON:SRSP) – Funding Now Acute. Time to Focus
The Company is well placed in Nigeria to leverage of off the opportunity that exists. However, it is unfortunate that financially, it is unlikely to be able to push forwards in a manner that creates value for existing shareholders, especially as it has the significant technical talents of Havoc on board; this is an opportunity not to be missed by management.
We believe that the Company needs to disclose its forward plan, what it expects to be the route map to funding. At the moment, cash balance sheet items are generating a liability of ~$2mm, meaning that even before any investment on forward programmes can be undertaken, this must be satisfied. While this is not a significant sum in oil and gas terms, it is a significant proportion of its current market value.
The team needs to start to get imaginative about financing, what its forward objectives (priorities) are and how it achieves them. We feel that time is running out to some extent for this management team, and inaction is no longer an option. While we recognise the depth and breadth of the opportunity within the Company, it is time to focus.


personal comment....what they're saying is...never mind some spurious plan 'B' with it's high cash burn rate and 'pipe line of assets...let's see some movement with Plan 'A'. They just can't keep continually waffleing year after year. Time is running out. Maybe Pro-Active Investor is right by saying that this BOD should go.....then they can kiss their multi millions of self issued share options good bye. This is the real problem we have in that the BOD are not oil men.

[stevehoops] 30/6/2015 09:47

Good time to get in now.
11k for my 1.3 mil since Friday.;-))
Top up if you can spare the cash.!!
Big news can't be far away.???

[granitetim] 30/6/2015 09:26

OOOH look at us we reduced the losses... Thing is the losses are purely remuneration based losses.. Some people get very easy jobs and well paid to boot ;)

[granitetim] 30/6/2015 09:17

Nice results...lol

[htrocka2] 30/6/2015 08:08

The city and market with respect to the share price are getting wary of the same mantra... even I had to take a look at the date to make sure I got the right rns....however, same old same old.

As I've said before...just as well srsp never made any deals with the previous administration...(every previous deal is to be reviewed and scrutinised...some could even be revoked if misconduct is uncovered)





All future payments, ie, 'signature bonuses' for example, to be paid to a central Government fund and no longer directly to the DPR . This should eliminate temptation of filling 'brown envelopes' and 'buying' permits

[tony773] 30/6/2015 08:07

48 to buy!!!

[solarno lopez] 30/6/2015 08:06

Wait for the AGM especially after last years bullshine from the directors

[thundercat1] 30/6/2015 08:05

Yes I agree very detailed and can see where it's going, when will it actually happen 5-6 years now come Sirius just announce the bloody news we really want :)

[sherl0ck] 30/6/2015 07:52

Few positives?? Can they honestly 'signpost' any more about where this is going? JV with a partner and farm in to a significant asset. Anyone eventually missing the boat on this one only has themselves to blame.

[x1000] 30/6/2015 07:52

A many years down the road RNS ?

[thundercat1] 30/6/2015 07:20

Final result out.Few positives but still a lot of ifs and buts in there!Let's hope we get more significant price moving news before the AGM.

[stevehoops] 29/6/2015 16:56

Topped up again today.
Hope good news tomorrow.!!
Gla

[thundercat1] 29/6/2015 16:22

Hardly call that a lot of buying few small buys quiet day won't make no odds only news will move it or heavy heavy continued buying.So RNS tomorrow Bradshaw says?

[jenny tulwought] 29/6/2015 16:07

Don't think so Steve - not judging by the number of shares you've been able to sell 'all in one go' all day (whilst dummy trading).

[stevehoops] 29/6/2015 15:04

Good buying again today.
No movement in share price only down.
Large sell being filled??

[herman_m] 29/6/2015 11:06

Good point Carrbradshaw, I had completely forgotten about the 30 June deadline for reporting final results and trading report.

[carrbradshaw] 29/6/2015 09:10

We'll have an RNS tomorrow regarding final results so they might give us a bit of an update in that about what's going on and we'll get AGM date.

[htrocka2] 29/6/2015 08:59

I couldn't help but notice in the 'grant of Options' Statement(2013 Results) that they include the clause ...'to be exercised 12 months after the date of grant OR the completion of a reverse transaction as defined by the AIM rules'

I have quite a large portfolio of shares and the final piece of that statement referring to the 'reverse transaction' is unusual and specific to SRSP. This virtually confirms their ultimate intention.

[stevehoops] 29/6/2015 08:46

Topgun

We got to get past the next two days with the mess in Greece first.
This will have a down side on the share price for sure and every other share!!>.
But there is one day left in june for those who was expecting a further statement from the Company this month.
On the last statement it said still In talks with farm in partners.
Dos this include a take over also ??
Anyone. !!!???

[topgun1000] 29/6/2015 08:21

Some great poetry and posts over the weekend but can we now please get back to discussing Sirius petroleum and what we think the next month will bring, seems the market makers moving this back down again will it hit the low of 0.5 or will we see some more progress news? Have a nice week everyone.

[granitetim] 29/6/2015 08:17

Bargain for you boys... ;)
lol

[htrocka2] 29/6/2015 07:42

nobby...great post... which just proves the old adage that 'truth is greater than fiction.' With Germany now owning Rolls Royce, the mini etc. etc.. kids often ask me...'who really won world war 11?'