Sirius Petroleum Share Discussion Threads

[olufemisudem] 13/2/2016 18:52

Hell yeah show me 3p
Ha ha now who ever got jimduggan barred can have twice the pain
Now over to olufduggan:)

[thundercat1] 13/2/2016 18:36

olufemisudem 13 Feb'16 - 18:06 - 44887 of 44890 0 0 (Filtered)


olufduggan 13 Feb'16 - 18:16 - 44889 of 44890 0 0 (Filtered)


Sooner this is over the better show me the ten p!!!!

[chris shiherlis] 13/2/2016 18:35

Gawd Sake.

[olufduggan] 13/2/2016 18:16

hahahahahahahahah plonkers

[micky and syrup] 13/2/2016 18:16

Oluf.I doubt it's a scam,the only scam I can see is the rumour mill that has facilitated the rinse and repeat.

[olufemisudem] 13/2/2016 18:06

Could be partly, but they could have raised money easily even so.
If next rns doesnt suggest major progress then its a
Scam imo.

[micky and syrup] 13/2/2016 18:02

Oluf.why use your own money.The indigenous owners IF they as some suggest, have built up a substantial stake in Sirius then IF Sirius has a major re-rete then they have cleverly used those assets well.Once the new entity starts producing they again see their investment growing in tandem with the company growth.To develop the assets would require significant investment whereas building up a large stake in Sirius would be peanuts relative to asset development costs.It seems clear there will be a movement of the renegotiated strand warrents into other hands in the not too distant future.h
With ONDO in control of who gets their assets (the pipeline mentioned in rns,s)the ondo controllers are in the enviable position of being in almost complete control of their investment.Owena will always have been the target for Sirius and has not just been a recent idea,it will have been meticulously planned.The ondo controllers win with assets developed,much needed petroleum products to help with ONDO,S ambitious growth needs IE power generation etc and an amazing return on their investment that keeps growing and growing.

[drrichard] 13/2/2016 17:55

Because we have a London listing perhaps, olu?

[olufemisudem] 13/2/2016 17:36

How many times does a drill permit have to be paid for before a well gets
drilled? The drrosso would say that the glencore deal ending was planned.
Do you think he was right?
Also why do these indigenous owners need us. Most of them are multi-millionaire ex politicians who could fund it themselves.

[olufemisudem] 13/2/2016 17:23

Thanks it has improved.

[micky and syrup] 13/2/2016 17:13

Excellent English oluf.

[olufemisudem] 13/2/2016 16:27

The share price reflects what is known-almost nothing and almost worth nothing.
If drrosso is correct then 10p plus in the future for sure.
All his conspiracy theorys are quite enthralling but they could end up being a load of old tosh.

[carrbradshaw] 13/2/2016 15:48

Yes Sherlock - I do lie awake at night worrying about my investment because I haven't a clue what's going on here but Dr R's posts give me a bit of hope even though they are pure speculation.

[sherl0ck] 13/2/2016 15:20

If you genuinely think that nothing has happened since the drill approval then you should rightly be lying awake at night very worried about your investment because that would indicate month after month of continued cash burn and a complete inability to close funding for a single cut-price Ororo drill.

[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