Sirius Petroleum Share Discussion Threads

[6cer] 25/5/2016 09:53

They have been 'negotiating' longer than the duration of the 2nd World War ffs.

[carrbradshaw] 25/5/2016 09:32

I am also expecting the above but not this year - this is going to get there hopefully but will be very slow.

[sherl0ck] 25/5/2016 09:22

I'm expecting CPR, Ororo funding, marginal field licence & drill permit renewal and possible further recruitment. Owena RTO, much larger funding & other asset revelations/acquisitions will be a big bonus. I've bought more this morning.

[x1000] 25/5/2016 08:53

Carrbradshaw: not expecting news before August then ? lol

[them0se] 25/5/2016 08:40

Bonjour and adieu fellow investors

[carrbradshaw] 25/5/2016 08:40

No EGM but there will be an AGM in August so hopefully we can put some questions to them then!!

[solarno lopez] 25/5/2016 08:26

hahah well done Bron

[solarno lopez] 25/5/2016 08:16

Nasdrovia Bron

[bronislav] 25/5/2016 08:12

Bonjour and adieu to all.

[6cer] 25/5/2016 08:11

Lets hope that when the next shareholder's meeting takes place that this time it is attended by pi's with some fire in their bellies who will take the bod to task and get all the unanswered questions answered and not by subservient limp wristed pansies as in the past.

[chris shiherlis] 25/5/2016 07:57

We just need that bit of progress to get us going again.

[jimduggen] 25/5/2016 06:52

End of may according to some dimwit on here.

[chris shiherlis] 25/5/2016 00:53

When's the egm?

[htrocka2] 24/5/2016 13:55

Sherl10ck.

I thought I'd comment on post 51142....


'Perhaps Calvet was little more than a facility set up to show there was access to potential large funding so as to ensure the business was a going concern, whilst the bulk of the loan was really only available as an absolute last resort. Calvet was certainly very keen to maximise their short term gains by taking all the 3 year fees upfront and also happy to lessen their loan by 'allowing' others to participate in working capital funding. I seem to recall that a previous Calvet CL at 3-4p was also only used in part.'


I note that no time span is given for the facility and as you suggest, if the facility was left open specifically for the purpose of allowing SRSP to remain solvent, which is a legal requirement and claim 'going concern' compliance, then one must conclude that Calvet are not going to let this go down the pan.

[flyster] 24/5/2016 13:00

Bring your pitchforks

[jimduggen] 24/5/2016 12:38

Go down to berkely square while your there and ask them what the hell they are playing at

[keysersosse] 24/5/2016 12:32

Good afternoon.

Lovely day in the smoke.

[sherl0ck] 24/5/2016 09:38

Official line was a) he was only ever really part time at best and couldn't commit to doing more as was also balancing running his gallery etc b) brought in to do a certain job in tidying things up/sorting out legacy issues so that any funder/partner would be comfortable with their detailed due diligence. He felt he had largely accomplished this and someone with different experience would be better positioned to meet company's requirements moving forwards.

There's probably a lot more nuance to this and I also have other thoughts that I won't share on a public board. In reality whilst he's worked in finance, he's not an accountant/FD type guy and has little experience of O&G, RBL arrangements etc. Simon H seems like a much better fit.

[sherl0ck] 24/5/2016 09:21

Perhaps Calvet was little more than a facility set up to show there was access to potential large funding so as to ensure the business was a going concern, whilst the bulk of the loan was really only available as an absolute last resort. Calvet was certainly very keen to maximise their short term gains by taking all the 3 year fees upfront and also happy to lessen their loan by 'allowing' others to participate in working capital funding. I seem to recall that a previous Calvet CL at 3-4p was also only used in part.