Sirius Petroleum Share Discussion Threads

[carados] 01/8/2016 12:59

I can't sell anything over 50,000 shares. though just noticed you can still buy as somebody just picked up 400,000 :-)

[bronislav] 01/8/2016 12:56

Can sell half a million shares .

[ruedolf] 01/8/2016 12:54

" htrocka2 - 12:41 - 53314

The market probably just waiting for a response from the company with regard to the current state of play.."

Its about time the company issued an rns ... The fact that the license operator has being shut down by the tax authorities is materially significant news.

[carados] 01/8/2016 12:52

So should we expect an update from the company shortly then? Not too happy not being allowed to withdraw my money if I wanted too not that I want to anyhow.

[1sonic] 01/8/2016 12:48

Same here Carados... Just tried.

[carados] 01/8/2016 12:46

OK. Like I said done a dummy sell on my cloudtag shares and I can sell all 50,000 of them but srsp wont let me sell anything over 50,000.

[htrocka2] 01/8/2016 12:41

Carados

The market probably just waiting for a response from the company with regard to the current state of play..

[carados] 01/8/2016 12:18

Just tried to do a dummy trade and all it will let me sell is £150 worth. This is on Hargreaves Lansdown. Anybody else having this problem?

[dr rosso] 01/8/2016 11:15

I've reached the conclusion that GP is no more.

[dr rosso] 01/8/2016 11:07

No way will Buhari's MPR have issued a $500k licence to a bunch of duffers. If necessary the upstream element of newly reorganised nnpc will step in to get things moving

[minichris] 01/8/2016 10:56

Agreed 1alfi

[bronislav] 01/8/2016 10:33

Sol.we have had higher lows and higher highs ,no GUARANTEE that that will continue but it looks promising.

[1alfi] 01/8/2016 10:32

Minichris - I feel that with the likes of Schlumberger, Havoc, GL, the combined talent of our BOD plus the Nigerian power house of Mimiko and Dangote - given all that talent and experience I just find it difficult to believe that the Guarantee situation will have come as any surprise to them and that steps have not already been taken to accommodate it. It may even have been part of the planning.

[dr rosso] 01/8/2016 10:27

"We are pleased to have identified additional potential revenue streams through gas commercialisation which is in line with Nigeria's policy on gas flaring and also our objective to be a high-quality operator." Kuti

[htrocka2] 01/8/2016 10:25

dated last year


Sirius has been working closely with the DPR and its partners, Guarantee Petroleum and Owena Oil & Gas (together with Sirius, the "Partners") and, whilst no Marginal Field licences have yet been formally renewed, the Directors believe that the Approval from the DPR confirms that the Partners have met the necessary licence obligations on the asset to allow them to commence operations on the field. The Approval will expire six months from the date of issue, being 26 October 2015, at which point Guarantee must seek revalidation on behalf of the Partners, if drilling has not commenced.

'Guarantee must seek revalidation on behalf of the Partners,

[solarno lopez] 01/8/2016 10:22

That's if we have higher lows and Higher highs Bron

[minichris] 01/8/2016 10:18

1alfi, when you put it like that, sounds so simple.Also fits with the FTSA being ammended. (I forget which RNS stated that)

[bronislav] 01/8/2016 10:17

If you take the engineered rise out of the chart in March there is a bowl forming and the chart looks like it's ready for the next leg up with higher lows and higher highs ,next rise should see us break 0.4 unless we get something more substantial or a suspension..Tentatively optimistic .

[sherl0ck] 01/8/2016 10:01

Guidelines for the required consent in transferring interests in fields:

hxxps://dpr.gov.ng/index/wp-content/uploads/2014/12/Giudeline-on-Asset-divestment-16-10-14.pdf

[dr rosso] 01/8/2016 09:41

From AR "Also included within accruals are Directors' salaries which are payable in cash upon commencement of drilling of $1,497,000."

Bit of an oddity, this. OldSirius has been ordered to clear the decks before the oil revenue rolls in. NewCo will not be burdened by past accruals, indeed it'll have a brand new BoD with new share incentive options.

[bronislav] 01/8/2016 09:32

The licence has been granted for three years and negotiations concluded between the partners ...if we assume the federal,government that granted the licence were aware of guarantees issues then they would of sorted any ownership of guarantees percentage BEFORE granting the licence..my speculative opinion for what it's worth is that the guarantee percentage is already accounted for and all is well as per the plan .We will never really get under the skin of the last six years and really we don't NEED to know.All we need to know is what unfolds and how much we are going to get in our investment pot.

Let's be honest guarantee were the fly in the ointment ,what a suprise they have been got rid of.If we are talking about a significant gas plan and large amounts of money being invested in Nigeria who would give a second thought to the plight of guarantee.Imdc were no different ,got rid of .Guarantee sat on a licence that was gifted to them and they only rewards would come from some others developing the asset and as long as guarantees directors are rewarded they will likely walk away happy.

[1alfi] 01/8/2016 09:32

Owena just inform the authorities that Guarantee Petroleum are no longer one of the 'Field Partners' - why does it need to be any more complicated than that ?

[solarno lopez] 01/8/2016 09:27

So the authorities step into the place that GP held ?

[dr rosso] 01/8/2016 09:21

"Board has received a proposal from a service provider for project funding but are comparing this to several competing vendor finance opportunities in order to secure the most optimal deal."

Service provider must surely be Schlumberger (FMA). Alternatively one of the commodity traders like Trafigura, glencore, etc.

Would someone really put money on the table if there's an issue with GP/licence?

[1alfi] 01/8/2016 09:21

I don't think you are clutching at straws mimichris - the licence has been granted to the 'Field Partners' and not to Guarantee Petroleum