Sirius Petroleum Share Discussion Threads

[tuckerjenkins1] 14/8/2015 12:17

Killik WAS listed before as a major share holder, now their not

[bronislav] 14/8/2015 12:13

Perhaps I will leave you all with this to consider ..

Whether the guys behind Sirius get it over the line or give us a mighty shafting.we will all have to admit they are an awful lot smarter than the bulletin board crew .....much smarter ...hundreds of thousands if not millions of pounds smarter than us.....

[sherl0ck] 14/8/2015 12:09

hxxp://www.siriuspetroleum.com/images/uploads/sirius_petroleum_AR2014_PRESS.pdf

P.33

300m @ 4p
300m @ 6p
300m @ 10p

They hang over us but haven't been exercised yet. Example RNS showing exercise of warrants and conversion to shares is 1/6/11

[chris shiherlis] 14/8/2015 12:03

Issue of Warrants



Further to the announcement dated 1 February 2013 and subsequently approved by shareholders on the 26 February 2013, the Company confirms it will issue 900 million warrants in respect of the provision of the above funding agreement. When exercised in full, the warrants will provide an additional £60m of funding to the Company.



The Company anticipates that full exercise of the warrants, together with the opportunity to drawdown the pre-financing facility, will provide sufficient funding to maximise production of its existing assets and to acquire further assets with near-term production opportunities.



Toby Hayward of Sirius Petroleum said: "Our partnership with a major multinational oil trading company is transformational for Sirius, and Glencore's invaluable expertise marks a fundamental step in our strategy to put our initial assets into production and to build a portfolio of highly valuable oil assets."

[chris shiherlis] 14/8/2015 11:59

Still on the balance sheet take a look for yourself Sherlock. They are still hanging over us.

[solarno lopez] 14/8/2015 11:58

That's why it reminds me of the Co-op, try screwing everybody for the best deal possible simply does not work

[sherl0ck] 14/8/2015 11:56

Can someone please explain to me how warrants are sold before the share price has reached a designated warrant strike price and before those warrants are then exercised and converted to ordinary shares?

[chris shiherlis] 14/8/2015 11:48

I like the idea of this company and how they get the assets but I do not like how they have gone about the dynamics behind the scenes and the underhand way that it has been conducted.

They could answer at that meeting honestly that no large shareholder has been selling as that is correct but ask them a different question, how many large warrant holders have been selling? Watch them answer that one.

Also JV's mean a lessening of the equity in the asset so after all this time this is the only way to fund assets, it seems crazy to hail this as the ideal scenario. Effectively a load more shares and warrants given out to whomever and then when funding comes through via JV we lose another half again of the assets. Brilliant and some fool said these guys were smart.

[dr rosso] 14/8/2015 11:46

10p is my share price estimation of Ororo within 3 months, consisting of a 10k bopd twin well flow + another 20k bopd "other oil" that Chevron will send through to the flowstation. BTG's fpso will be collecting 30k bopd for transfer to its VLCC coming up from its 200k bopd Agbami Field. That 10p does not yet have the Ororo deeper sands reserves factored in.

Take OML95 as a whole. Sirius/Chevron is working the Northern fields. Elsewhere on this block, the Meren field holds 1.1bbn and 1.3 tcf gas, production having peaked from 31 wells at 85k bopd. Parabe is similar, with 50k bopd flowed at peak.

Got the picture. Block OML95 is hugely lucrative. Now get a map, see Block 241 adjacent. Same geology, tho 241 straddles 2 different producing basins. Potential for 241 is gigantic. PGS/Schlumberger have spent 3 years on 3D seismics.

If Ororo hub, a fraction of 95, is worth 10p (based on 2bn shares), what is a 40% - 60% stake in adjacent full block 241 worth?

[tuckerjenkins1] 14/8/2015 11:46

I believe their waiting them out, so my thought is current guise.

[bumpa33] 14/8/2015 11:44

good god, 7 years and still they don't learn from what they were told right at the point it miraculously came back from suspension - a gravy train for directors 'n friends, and a dilution to zero for everyone else. The only reason i ever touched this in the first place all those years ago was because i thought Hayward would bring some gravitas to proceedings - when in fact it's looking like he's as/more bent than all the other players put together...! Oh the irony :)

[them0se] 14/8/2015 11:41

"let Bobo unlock more assets,(which he is the man to get them, I wouldn't be invested here if bobo wasn't involved) get them all flowing, then we're in the money"

In the current Sirius guise or a new venture perhaps?

[tuckerjenkins1] 14/8/2015 11:38

It's the only logical explanation that I can think off and that make sense, I believe everything is ready behind the Sences.

And any one buying now should see a good return at these levels in 12 months or so.
Jv's are the route, pump oil, build value, let Bobo unlock more assets,(which he is the man to get them, I wouldn't be invested here if bobo wasn't involved) get them all flowing, then we're in the money

[sherl0ck] 14/8/2015 11:33

Can someone please confirm the amount of shares that SH are supposedly dumping?

[them0se] 14/8/2015 11:24

That makes sense Tucker

[bsg] 14/8/2015 11:24

10p! I'll feel lucky if I get my 3p back.

[tuckerjenkins1] 14/8/2015 11:14

I reckon the bod know roughly that the SH off load will run out or dry up at 0.5, and they have been waiting it out, rather SH dump now than the bod release gd news and have them profit more at dumping at a higher share price

[quid for cash] 14/8/2015 11:11

rod99 thats a good point, but not really one that people want to contemplate at the moment.
Its more a time for a dawning realisation that we have not been cognisant of all
the issues that surround the make up of the share price

That in a nutshell is what all the fury is about.

[thundercat1] 14/8/2015 11:10

Yes i agree themose i could have bought 2 million shares at this price i have a small fraction of that at a vast expense.

[them0se] 14/8/2015 11:06

Q4C, Tucker - yes the current situation, share price and news we have in the public domain isnt great is it.
I guess the only folk who can salvage a decent return after all this time are investors who have spare funds to almost DOUBLE/TREBLE their holding at this price.
I however do not have the luxury of anymore funds as I bought into this around the 3.5p thinking I was making a smart investment. I'm in the same boat as you guys.. can only watch on feeling in the dark and pretty peeved at this whole fiasco.

[rod99] 14/8/2015 11:04

How can people put a price on the outcome without us knowing what assets we may ultimately have.

[thundercat1] 14/8/2015 11:01

10p will be a welcome releif and exit for most still a good return if you have a big holding sadly most paid 4/5p so holdings not so big and the end reward for our loyalty is quite frankly pants.
Even at 10p ppl buying now would get a 10 bagger plus so not to be sniffed at maybe even the chance of that is still a long shot if we are being realistic.

[htrocka2] 14/8/2015 10:57

Jenny...is that all you have to worry about...lucky girl. I wish I could swap places with you. (ps..Monday will soon come round)

[quid for cash] 14/8/2015 10:52

Has AR engaged in such tactics as he must have known this was a monumental fk up
poss also engaged in said selling , honestly who the fk knows.

But insiders are in the happy position of being able to issue more shares for any number of the spurious reasons given. Whilst weve been paying 4p 3p 2p in the
somewhat vain/forlorn attempt to protect our investment.