Sirius Petroleum Share Discussion Threads

[ropot] 09/8/2016 18:09

Only because, as an ordinary P.I., that has probably been my only concern the previous few times I've asked about the possibility. And now it's being mentioned from the "other side of the fence", it is a worry after waiting patiently...

[1sonic] 09/8/2016 18:01

You're all crazy!!!!! This share has driven you all paranoid.... Me included but I don't think we are being stitched up!!!! All about timing.... Price of oil, price of gas, getting the best deal for all including the bod as they will be rewarded, past and present........ It can't be too much longer.

[cornishtrader1000] 09/8/2016 17:51

If holders were stitched up would anyone ever touch Corvus again? But would Regan care with £100m in the bank.

[ropot] 09/8/2016 17:46

Considering the increased media presence since last year, including the recent investor show, why bring the company to the attention of P.I.s if there's a chance of us being "frozen out" in the future? I would have thought with all the important people holding the majority of shares, keeping a small percentage of P.I.s onboard wouldn't make much difference if it's as small as 5% to 10%. I'd be very depressed if they shut the door like that...

[drrichard] 09/8/2016 17:35

Interesting discussion guys.GP have certainly bounced back And SRSP are back on the front page. How much is Ondo State pulling the strings I wonder. Bobo et al have made much of the special relationship that we have, so makes you wonder how much string pulling GP can muster?
Meanwhile, oil is back over $45.

[bronislav] 09/8/2016 17:28

Alfi....interesting you refer to the appraisal well and the belief that it has already been drilled.To have an EIA on the three wells those wells have to have a drill position and this would need an appraisal to ascertain those positions .Was the well drilled under the guise of guarantee hinted at on their website.Offers on the table and seriously overdue CPR/FDP suggests we are only told on a need to know basis .If guarantee drill wells irrespective of who provides the funds does this need to be announced particularly as oml95 is in a subsidiary...Funding is clearly a long drawn out smoke screen as schlumberger have the funds and are clearly the people with the knowledge of the Nigerian geology so they could have drilled many wells if the will was there.

[shez20] 09/8/2016 17:05

Few of the shown buys have actually been sells in past few days! I wonder whether any on this board were in on the last placing?

[1alfi] 09/8/2016 15:59

Doc - I think the drill permit will have been taken care of in time, in fact I wouldn't be surprised if we are already drilling.

[handygandhi] 09/8/2016 15:45

Could be a possibility, Doc.

From the RNS 20Aug14, "Oil and gas - we are close to completing a major oil and gas investment and expect to be able to announce details before the end of September."

Two months later they were suspended.

This share gets curiouser and curiouser by the day.

[dr rosso] 09/8/2016 15:43

Why Worthington? Is it because one of their lined-up biggish investments is with Sirius and it cannot proceed because of the Greenlands hold-up?


GP saying Q3, in which case they'd better resubmit the permit application sharpish + have the backing of Sirius as producer-funder.

[aventador] 09/8/2016 15:40

6cer - 09 Aug 2016 - 11:31 - 53632 of 53639 - 2Dr Rosso - are you suggesting that we may be legally screwed by forthcoming events ?We already have been lol.

[handygandhi] 09/8/2016 15:39

Worthington may already be in the mix, Bron.
That could well be one reason for the hold up.

[jenny tulwought] 09/8/2016 15:17

Too much selling going on for a tick up I'd havd thought. That 1.2 million trade shown as a 'buy' earlier, looked like a sell (judging by the dummy trade quotes at the time).

[bronislav] 09/8/2016 15:15

Seplat ,guarantee.....might as well throw worthington in the mix.

[6cer] 09/8/2016 14:47

Spread now 0.35p to 0.37p

Due for a tick up ?

[dr rosso] 09/8/2016 13:59

GP back to tell us drilling at some point in Q3. How can a partner owe $13m, presumably on profits well over $100m, yet nobody can raise a bean for Ororo?

[dr rosso] 09/8/2016 13:37

I wonder if Seplat t/o is back on the menu. Did that $453m (25%) deposit ever go away?

[dr rosso] 09/8/2016 11:41

The acquiring shell would be £8m-rated sirius performing a (reverse) t/o of a bigger privateer (Owena.) Owena gets merged into the listed Co. with consideration shares often issued to the target's holders as a bonus for sharing the assets. It is usually the case that warrants and options can all be exercised ahead of the merger and holders will have a good idea of the rerate.

[6cer] 09/8/2016 11:31

Dr Rosso - are you suggesting that we may be legally screwed by forthcoming events ?

[solarno lopez] 09/8/2016 11:28

A ploy I use

[htrocka2] 09/8/2016 11:24

a lot of their warrants and options are exercisable on a RTO.

[1alfi] 09/8/2016 11:16

"Laws on tender offers allow the acquiring company to freeze existing shareholders out of the gains from merging by forcing non-tendering shareholders to sell their shares for the tender offer price.[4]"

Am I correct that the above only applies to the non-tendering shareholders - if Sirius are the acquiring company then the above does not apply to Sirius shareholders.

[htrocka2] 09/8/2016 11:00

'This freeze-out tender offer has a significant advantage over an LBO because an acquiring corporation need not make an all-cash tender offer. Instead, it can use shares of its own stock to pay for the acquisition. In this case, the bidder offers to exchange each shareholder’s stock in the target for stock in the acquiring company.'


Currently, Owena , (presumably the acquiring company and also a State owned vehicle,)has no share structure or Corporate Governance, hence the ,possible, reason for SRSP in maintaining the London Listing so that it may acquire one. However, we've come this far, why 'freeze out'?...just go with the flow.



'the 5p options may well lapse'...I've known many companies that have lapsed options....they end up compensating themselves by another route, usually by issuing even more options at a lower exit price.


At the end of the day for Ondo State to see a return on it's investment, it would need to float off Owena Oil and Gas and thereby retain a controlling interest in the process should they so wish.

[solarno lopez] 09/8/2016 10:16

the 5p options may well lapse

[1alfi] 09/8/2016 09:22

Why all the doom and gloom DrRosso