Sirius Petroleum Share Discussion Threads

[sherl0ck] 13/2/2016 14:46

Carr - my view is that some people are indeed filling their pockets but MMs still currently seem keen to keep the price low, thus exacerbating doubt. Insiders perhaps can't buy due to closed period rules and outsiders have no reason to buy a seemingly failing oilie in the current weak climate, so you're left with a much smaller group of longer term holders who may have a better appreciation of what's perhaps going on, but they've already accumulated a lot anyway and are currently sitting on large paper losses so there is a reluctance to buy too many more until this becomes derisked.

I don't think it will go belly up but you'd have to be completely blinkered to belive that there's no risk whatsoever. Even the best laid plans can fail for any number of reasons....and until we see the bigger RNS we're not completely out of the woods yet. I believe some of this risk has indeed been manufactured by the company to their advantage. The low share price has obviously been important...because the company could quite easily have done something about it if they really wanted.

[carrbradshaw] 13/2/2016 13:40

Dr R - I hope it's as easy as you say above but can you really see this coming back at 10p. If that was the case why are there not more buyers filling their pockets every day when it's languishing at these low prices. Something doesn't quite add up here.

[dr rosso] 13/2/2016 13:04

Warrants + lock-ins indicate a balancing act going on. Corvus took 71m. That leaves 114m others, transferable. Essential that pre-merger closure, the Nigerian concert party holding is kept below 75% in old Sirius, otherwise they could exercise their newfound control by issuing an extra egm-approved 1bn/2bn or more placing shares to their mates at 0.25p. In that event, no safeguard in place to prevent those existing 24% holders effectively being wiped out. 185m new W offer the defence.

The new Ds/Snr Mgement Team are being gifted another 260m share options.

Let's hope the fully diluted figure can be held around the 2.6bn mark in order for the reemerging Enlarged NewSirius to open up at 10p. Full block asset revelations should see it rerated at £260m. Nothing to stop the proposed Ds going for an April placing but it'll be at 10p, and it'll be rather unnecessary anyway because we should get to know of a $400m project debt facility courtesy of Macquarie, be it self-fund or Ophir/Oando/Sapetro jv. IIs such as Och Ziff, Schroders, might well want a chunk at 10p - 15p, so pretty easy for Corvus and others to take a partial bow out.

[1alfi] 13/2/2016 10:34

Or maybe wait until after suspension. If the share price did return from suspension in the region of 10p that would give £18.5 million to be shared between the warrant holders following which shares are transferred to new co giving controlling influence.

[1alfi] 13/2/2016 10:22

Hi Sherl0ck - have you any thoughts on offer regarding the following


RNS 4/12/2015

“The New Warrants contain undertakings from the Company to maintain sufficient shareholder authorities to permit the issue and allotment of ordinary shares arising on exercise of the New Warrants.”

“The New Warrants are transferable, with the Company's consent, such consent not to be unreasonably withheld or delayed.”

Commenting, Bobo Kuti, CEO of Sirius Petroleum, said: "......... The New Warrants, if exercised in full, will generate GBP3.7 million of additional cash for the Company and, given the lower exercise price, have a more immediate potential value to the Company. “



The market makers up the share price to 2p - why? because they can

Warrants are cashed raising £3.7mill towards drilling costs

Resulting 187 million shares are transferred to appropriate bodies giving them required controlling influence within the company.


Or something along those lines ?

[oilbuy] 13/2/2016 10:12

Thank youTopgun1000

[sherl0ck] 13/2/2016 09:52

Until the Ninogas connection surfaced I was thinking that Hawkins could just transition into the exec FD role. Might still be possible but Ninogas probably lowers the odds. We might have earmarked other directors to come on board but I guess you probably don't announce it and start paying hefty remuneration until funding is sorted.

Speaking of which, it's been 4.5 months since the last mention of funding. Either we're really struggling to even raise enough to drill O-2A at a time when the costs are the cheapest for many years, or we're working on a far larger transaction.

I note that Bobo is LinkedIn with Og Amazu (Amazoil) who introduced us to Glencore and has a Base at 42BS. He's also more recently linked with Bill Higgs, COO of Ophir....possibly only after talks between the two companies ended, if the rumours are to be believed.

[olufemisudem] 13/2/2016 09:39

Hope so soon as doc

[olufemisudem] 13/2/2016 08:45

Take your misses to aldis you skank of a smell bad man
Im not fat

[chris shiherlis] 13/2/2016 08:08

Olufemisdoon, oh sod off you stupid fat git.

With your big mouth you should have a lollipop man in there stopping the traffic.

[dr rosso] 12/2/2016 22:40

Have a look over at CSI for how rto works. Pretty obvious why we have a TempFD, also temp acting as Co. Sec. Pryde will be replaced as Chairman. Will Bobo be the CEO of the new enlarged group? Who will be the new CFO... Mitchell? Who will be the new Co Sec to replace Kitwell of the old guard. Will the newCo be incorp in Caymans.

Exciting times. NewSirius should finish up with 80% of 2 working O&G blocks. MacQuarie-led consortium for LTF at project level?
I'm thinking that the new Ds will take charge of everything, including O2A.

[htrocka2] 12/2/2016 22:13

An interesting story...

[dr rosso] 12/2/2016 21:29

The Azura-­‐Edo IPP comprises a 450 MW open cycle gas turbine power station; a short transmission line connecting the
power plant to a local substation and a short underground gas pipeline connecting the power plant to the country’s main gas-­‐supply. It represents the first phase of a 1,500MW power plant facility.
The plant’s location on the outskirts of Benin City is ideal because of its close proximity to Nigeria’s biggest gas distribution pipeline The first phase of the plant, which is targeted to come on stream in 2017, is forecast to create over 1,000 jobs during its construction and operation.




Azura is owned by Amaya Capital Limited

[topgun1000] 12/2/2016 19:24

Yeah strange one minute he can't use english grammer the next minute hes as right as rain.
Wheres Jim D gone?