Sirius Petroleum Share Discussion Threads

[chris shiherlis] 17/8/2015 10:18

They are probably reloading ready for another dump. They have explosive bowels.

For the company to say we don't know who is unloading is ludicrous, they reckon none of the big holders have sold yet the continued sells flood in. Made some waffle up about distressed sellers but that could apply to anyone of us.

That meeting was a contrived event to placate the LTI, it was lapped up and everything was believed. Crazy that no one really pushed these people to find out what was going on and how these ridiculously structure loans were given out to Calvert and all these shares issues for non disclosed services. Surely we are entitled to know what services have been paid for with these shares as it could be open to corruption if we have no clue what is and whom has been paid for?

What is the game plan if these JV's fail? How do we raise the cash to drill and to farm in? All hinges on these JVs I would say?

Time for Bobo and Bligh to show us what they have been working on for years, if anything.

[htrocka2] 17/8/2015 10:13

Dr.. It was 'all change' between the December Annual Results to the February 'Presentation' probably all changed again since February to and after the AGM with 'All Resolutions Passed'

[tuckerjenkins1] 17/8/2015 10:06

No sign of Strand, convenient, after all the off loading.

[bronislav] 17/8/2015 09:37

The February teaser and corporate presentation looked like they were older presentations that were doctered ,no doubts meant to be leaked ,just as the westhouse report was meant to be leaked ..in my view .

[dr rosso] 17/8/2015 09:37

Outstanding Options & Warrants

Number Strike Price Warrants
X 450,000,000 4p
Havoc 250,000,000 4p, 6p, 8p
Directors & Employees 165,500,000 5p
Consultants & Others 93,000,000 5p, 9p, 10p

Total 858,500,000


As at Feb 2015. No sign of 900m for Strand.

[dr rosso] 17/8/2015 09:25

The Feb Corporate Presentation was never issued publically and those so-called facts have never been confirmed in any official rns. It may be the case at some point in the future that Havoc be given incentivised options at 4p, 6p, 8p, who knows. It may even be part of their recent sign-up arrangement, with such details withheld.

[share_cruise] 17/8/2015 09:16

Drrosso I think the JV will be set up via a subsidiary so there will not be any further shares issued. This is all in my opinion

[htrocka2] 17/8/2015 08:57

The only 'facts' I have are in February 2015 Corporate Presenmtation


Warrants - Havoc (out standing)
250,000,000
4p, 6p, 8p

[dr rosso] 17/8/2015 08:04

Shifting sands. At the present time, Havoc have 100m warrants exercisable at 2p.
AGM allocated up to a further 400m (0.25p nominal par value) shares to go out in connection with well overheads ie pre-drilling on Ororo and elsewhere. Price not yet determined, but if they are issued at 2.5p+ after an asset news revelation, the Co. instantly has £10m+ ($16m+) to play with. JV partner provides for all drilling and field development costs.
For Havoc to have taken the decision to sign up, they must know what has been set up.

[bronislav] 17/8/2015 08:01

Htrocka ...within the company a delay may suit some but not others.......something has to give and if the quality of the assets is what we assume then money to develop them would surely not be a problem ..As bobo States in rns,s ,even given the price of oil we can still make good money from those assets ...

[dr rosso] 17/8/2015 07:57

Firms and outside contractors are being paid in cash. That cash is raised without difficulty by insider elements such as Family Trusts which are part of the Sirius set up. The shareholdings remain in-house.

It remains to be seen whether the new jv partner will be allowed to take shares in the parent. Havoc was due $191k but have been allowed to take their fee in the form of 100m 2p warrants. The cash was there for the taking (£1.5m Calvet loan). Ophir is likely to put up the full drilling funds in return for a 50% stake in Sirius share of Ororo, making it 20/20 on that particular asset.

Ororo at 10k bopd remains the bauble ahead of the glittering prize.

[htrocka2] 17/8/2015 07:51

Another minor point that may or may not be relevant with regards to Havoc warrants. With reference to the latest Corporate Presentation amount of 250m now obligated to Havoc. ie,4p,6p 8p with no further reference to the 2p warrants, a couple of points I thought about was that in view of the fact that BOBOs '..by Easter' comment had vanished and Havocs 2p warrants that had an exercise period of 36months, also seem to have disappeared, does indicate that the new deal with Havocs latest renegotiated 2p,4p,6p warrants may not be committed to the 36 months period and may have a varying or no time span. The point being that the original 36 months exercise period attached to the initial 2p warrants may now be out of the window implying that a possible further delay could be on the cards probably due to the macro picture of the currently depressed global oil market.... (My opinion only of course)

[share_cruise] 17/8/2015 07:03

Exactly, havoc were brought in by levant but even after the Levant deal
Was pushed aside Havoc were still happy to come on board.

They know the assets better than anyone, and are happy to be associated with Sirius.

[bronislav] 17/8/2015 06:44

I didn't say it was all good because firms had been paid in shares rich ...my point was havoc in particular know Sirius better than anyone and must have been satisfied with the state of play to sign up and all the others that took shares as payment would have known that shares as opposed to cash was the deal and still went ahead ,perhaps they know much more than the less than reliable rumour mill ....

[chris shiherlis] 17/8/2015 05:39

I don't buy this just because these firms have been paid in shares its all good. They have no other way to pay and these firms taking the shares are taking a massive punt along with the rest of us.

The sad thing is I actually have more money in my account than they do in theirs. Shocking for a PLC to be running such limited cash flows.

[drrichard] 16/8/2015 22:22

Bron, exactly. A major de risking factor factor IMHO. Next one will be funding.

[tuckerjenkins1] 16/8/2015 22:00

they were listed b4 but not now.

[share_cruise] 16/8/2015 22:00

Themsome I am quietly confident, but this share needs market confidence, hopefully the next announcement will start us on our way.

[them0se] 16/8/2015 21:50

You sound confident share cruise. Good to read after the last few days.. Let's hope all is revealed shortly. This thread needs a new direction and one of a positive nature.

[share_cruise] 16/8/2015 21:39

Tucker, greenlands is a family trust who Sirius trust not to sell shares at these levels, that is why they were "proffered"

I am sure all will become clear to all new and old investors very shortly

[tuckerjenkins1] 16/8/2015 21:20

Long due diligence, due to uncovering awful 900m deals and being satisfied that the awful deals are dealt with.

[bronislav] 16/8/2015 20:31

Still on the subject of company's having to take shares because Sirius has no money .I find it difficult to imagine a scenario where large groups such as schlumberger etc would work for Sirius without an understanding of how payment would be transacted .....more so with havoc who completed mutual due diligence last year and signed up a month or so ago ......If there was a problem with Sirius paying it would be around the oil industry like a dose of Ebola ....Everyone involved with Sirius will have knowingly accepted terms before carrying out any work ,they would of known the method of payment and would clearly have been happy to accept shares in payment ...That in itself speaks volumes in my view.

[tuckerjenkins1] 16/8/2015 20:19

I see Greenland is no longer listed as a major share holder :)

[tuckerjenkins1] 16/8/2015 20:19

I see Greenland is no longer listed as a major share holder :)

[tuckerjenkins1] 16/8/2015 15:08

Mine too, specially after tops at .5-.6 :)