Sirius Petroleum Share Discussion Threads

[bronislav] 17/8/2016 15:18

impossible to say until we know the asset/assets.drrichard.

[drrichard] 17/8/2016 15:14

You guys positing a price as well as an opinion? 3p, 5p....19p
Much as I would like a takeout at around 4p as I would then be able, as Chris said, to move on with my non SRSP life, I would be very happy to see us drill and then get 241 and then get to double figures next year.

[bronislav] 17/8/2016 15:02

Straight takeout BH.

[1alfi] 17/8/2016 14:26

I am with you on that BH - straight takeout

[bumhammer] 17/8/2016 14:25

Seems we are getting a split again between a T/O or 1st oil on Ororo

Whose in what camp? - I'm in the straight Takeout

[1alfi] 17/8/2016 14:19

Commencement of drilling is what the company have stated. If the company pay these accruals on commencement of drilling then where will the money come from - it will have to come from funding which in turn will mean more borrowing which in my view doesn't make any sense.

If it comes from t/o monies then it's no disadvantage to the company at all.

[bronislav] 17/8/2016 14:06

Drrichard..I can't accept they have not got a date for the AGM/EGM.Just because they haven't announced it does not mean it's not in place..Any logistical problems would have to be sorted in advance.As sol posted we have to have an AGM on the 30th or earlier and as such we will get an announcment.Not long to wait relative to what long termers have endured.

Alfie the commencement of drilling one well or three simultaneous wells.

[1alfi] 17/8/2016 14:04

From final results - “Also included within accruals are Directors' salaries which are payable in cash upon commencement of drilling of $1,497,000 (2014: $1,599,000). There are also other amounts in both accruals and other payables which are due on commencement of drilling.”

Why commencement of drilling and not first oil - why not wait and take the above amounts from oil revenue ?

Unless the commencement of drilling is when Sirius completes the obligations of the FTSA and therefore triggering their entitlement to 40% equity which can then be available for any t/o transactions.

[drrichard] 17/8/2016 13:44

Bron, a lovely thought and one that does tick a number of boxes, in particular SRSP's apparent reluctance to announce the GL was part of their team. One would have thought a HAVOC like RNS was in order.
It might also explain the delay in the release in the CPR and the apparent inability of our BoD to be able announce the AGM date. In that there are other players in the game and that all is not in SRSP's gift.

[drrichard] 17/8/2016 13:35

Chris, I like the sound of that simply because it will remove the hassle of deciding when and and at what price to sell.

[dr rosso] 17/8/2016 13:27

For what reasons would the nomad be preventing the release of info?

[chris shiherlis] 17/8/2016 13:22

BumHammer I can see the potential here, I think we all can but I think they need to offer us something more now. Been dragging on too long now.

Just sell the whole thing to the highest bidder and get done with it.

That means we can all move on with our lives and hopefully have a small amount of money to do the things we need to rather than struggling on and relying on others which is not good.

[solarno lopez] 17/8/2016 12:28

That is very well put Bron

[dr rosso] 17/8/2016 12:25

Spot on, Bron. In the absence of announcements, it has been the misfortune of lths that all manner of cronies have leapt onboard and offboard to make a series of 10% killings on a fluctuating share price

[bronislav] 17/8/2016 09:41

Logistics ..getting everything and everyone together at the right time.

[dr rosso] 17/8/2016 09:25

Interesting to see an AIM Co. holding EGM and AGM on the same day. The EGM proposals were with regard to changes in Memo/Articles of Assocn.

Logistics? Expect same here at Sirius ..... Dublin incorporation? Ovoca took 78% of a private Co. called Norplat, exercising their call option and gaining access to russian gold assets.

[dr rosso] 17/8/2016 09:04

Likely he was given the letters T-O. Think of something other than Transocean, they are ultradeep specialists. Note that this Twitterati con artist has the same record of predictive success as the rest of us.
T/O, hmmm.

[solarno lopez] 17/8/2016 08:42

yes we should see well ahead !!

[drrichard] 17/8/2016 08:37

Good job we are in very shallow water then! We should be able to see the well head

[ropot] 17/8/2016 08:31

There's a Hollywood movie coming out soon about the Deepwater Horizon disaster...

[htrocka2] 17/8/2016 08:25

'So what do you like about trans ocean?'


I like the synergy between Schlumberger and Transocean. Shell, Nigeria's largest oil producer and Chevron both use Transocean rigs.(even though it's old news) however, the collapse of the Schlumberger/Orphir deal tends to imply that Schlumberger drive a hard bargain and the BOD are getting a better deal with Trans..

[solarno lopez] 17/8/2016 08:10

Apart from the BP disaster they like Schlumberger are skilled in their craft with years of experience and financial clout behind them so either would be a good partner for SRSP.

[bumhammer] 17/8/2016 07:56

I'm sure it is Sol.. So what do you like about trans ocean?

[rugbybloke] 17/8/2016 07:53

So if a JV deal has been signed, how long can Sirius withhold this information from the market?