Sirius Petroleum Share Discussion Threads

[dr rosso] 29/8/2016 09:25

GP website is down again. How is it possible that their tax bill is greater than the cost of drilling a couple of wells? If they owe $15m in unpaid tax, their oil swap profits must have been in the region of $100m over a 4 year period. And in that time, the Ororo partners find themselves unable to raise, in effect, $2m ($15m , minus 88% recovery of costs). That we can't raise $1.5m to pay off the D accruals. That the only money raised incurs severe dilution to existing holders.

[1alfi] 29/8/2016 09:24

He who holds the purse strings, casts the shadow of service development.

[1sonic] 28/8/2016 22:37

Bumhammer, Ian Beale - do you mean market traders except not fruit and veg! AIM-ing high! Wash you're mouth out! Lol

[bumhammer] 28/8/2016 20:27

A lot of Ian Beales on here

[1sonic] 28/8/2016 20:23

The doc is right surrounded by bellenders!

[chris shiherlis] 28/8/2016 20:03

Not one thing has come true.

[aventador] 28/8/2016 19:53

Fairy tales lol

[dr rosso] 28/8/2016 18:31

Surrounded by bellenders

[6cer] 28/8/2016 18:24

Dr Rosso - the main scriptwriter for eastenders - can always be relied upon to tell a good story.

[1sonic] 28/8/2016 16:55

Bumhammer, great comment!!

[bumhammer] 28/8/2016 16:49

Even the Harry Jotter books come to an end though 1Sonic

[1sonic] 28/8/2016 16:34

Dr Rosso, you should write a book! The amount of time you've spent on Sirius posting you could've written Harry Potter!

[dr rosso] 28/8/2016 16:04

I too suspect that WRN's Nuna rto deal is off, leaving WRN free to get on with its other proposals, one of which could well be some kind of investment here in Sirius.

[fazertracy] 28/8/2016 15:52

Yes Bron speculate is all we can do. It does seem as though Sirius has been waiting on some other event. I think the Nuna deal is dead in the water, so let's hope they have another ace up their sleeve. There was a WRN video on UTube, a conglomerate in the making can't find it now.
I think we'll find out soon enough whats been going on but I doubt we'll ever get to learn the full story.

[bronislav] 28/8/2016 15:51

Any work carried out on drilling is to be repaid from crude oil sales ,gas could well be a seperate business .The nccp is now split into four seperate concerns ,one of which is gas and power.Lots of changes happening in Nigeria and gas and power may well be totally independent to the crude oil .

[fazertracy] 28/8/2016 15:34

Cheers Cornish, yep it's there, my mistake, didn't look hard enough. I certainly don't remember Asia being mentioned before, I could be wrong though, usually am :-(

[bronislav] 28/8/2016 15:22

Fazertracy...there are lots of links to Scotland ,ninogas being one although I think ninogas are likely interested in Nigeria but not linked with Sirius.Wrn and Sirius do seem to have a few things that could link the two company's but as always with Sirius it's all speculative.I have my own thoughts on the links but a bulletin board is not the best place to discuss in my view.The consortium is the big link ,again speculative but why are Seplat the only name mentioned in that consortium and why do the others in the consortium appear to want secrecy.If schlumberger were in that consortium one would understand why they would want secrecy as that would be a big link to Sirius.Consortium is at least three ,possibly four company's or contributors and although the 450 million deposit has been reduced ,it is still in play .The large asset mentioned in 2014 mentioned two African centric company's ,due diligence was being carried out in 2014 so what has happened since then? Two years is a long time and much work could have been completed on this large asset .Not too long to wait for some progress report before the AGM (if indeed we ever have one).we may not need an AGM.

[cornishtrader1000] 28/8/2016 15:11

Here you go Faz.....SRSP investor relations page updated 11/3. Im sure this section is new...The Company will seek investment opportunities to exploit rights to oil and gas resources which the Directors and Proposed Director believe are undervalued and where one or more such transactions have the potential to create long term value for Shareholders. The Board intends to focus in particular on assets located in Central and Eastern Europe and Central Asia, the North Sea and Africa.

[htrocka2] 28/8/2016 14:57

Sherl0ck....thanks for the input...lets just leave at that we agree to disagree... cheers. (except for a 'sloppy' website) I've known bankers to refuse company cheques being passed because the issuer had omitted to include 'ltd' on the end....so I'm not sure how they would react to a cheque being presented to Owena Oil and Gas headed 'OwenaOil'.? I've also known companies to form similar sounding companies ie..'blah blah construction'...along side 'blah blah ltd'....on the surface ...look the same, but set up specifically for debt purposes.

[drrichard] 28/8/2016 14:56

Presumably, FazerT, because they are now confident of getting Ororo drilled, so concentrating on Nigeria?

[fazertracy] 28/8/2016 13:47

Time will tell if there is a link between Worthington and Sirius.

I do recall the wording on the Sirius site something like, 'It is currently considering a number of opportunities in the oil and gas sector in Europe and with particular focus in Nigeria.

Anyone remember that? Now it only says Nigeria.

[fazertracy] 28/8/2016 13:45

Bron 'We will find out soon enough what Sirius has been doing over the last six plus years.i doubt it concerns mid 2017.The sixteenth of sept may well be pivotal'.

Steven Beharrell has an interesting career. Senior Council at Elbournes.
hxxp://www.elbournes.co.uk/partners/steven-beharrell/
This was an interesting read off their site.
hxxp://www.elbournes.co.uk/energy/

Steven Beharrell is also co-head of Global Energy Group.
hxxp://gegroup.com/sectors-services/oil-gas

Did someone mention a link with Scotland some months ago? Ge Group are based in Inverness.

I'm not sure if this is part of the same group.
hxxp://globalenergyco.com/profile.html
Based on Victoria Island Lagos.

Steven Beharrell is one share holder of four in Greenland Rare Earth Projects. Offices in London
hxxps://www.endole.co.uk/company/09032732/greenland-rare-earth-projects-limited?page=ownership
along with Patrick Newman and Worthington Group.

[sherl0ck] 28/8/2016 13:28

HT - I didn't miss your point, I disagreed with it.

Since their main website landing page references 'Owena Oil & Gas', 'Owena Oil' and 'Owena' is it more likely that all 3 are separate created entities or that the company name has just been loosely abbreviated on a fairly shoddy website?

There's also no reason why a small state owned company has to be located out of the state office. Awolowo Rd looks like a significant banking district in Lagos. Sahara Energy, KPMG and a Dangote office are also close by.

Re: production platform info - I've no idea but judging by the quality of the rest of the website info, I suspect it's probably somewhat spurious and inflated. In the same way the platform snapshot is more likely a stock photo copy & paste job than a real photo from Ororo.

[htrocka2] 28/8/2016 13:07

I'm glad I haven't got the head ache of some of these shareholders....that have held for 11 years... and we complain about holding for 5 years.




Date of issue Description shares price 16 July 2004 Subscriber shares on incorporation 2 0.25p 10 November 2004 Placing for cash 24,999,998 0.25p
25 November 2004 Placing for cash 16,875,000 3.21p
27 June 2005 Placing for cash 4,166,667 6.00p
27 June 2005 Acquisition – consideration shares 134,166,667 0.25p
27 June 2005 Acquisition – commitment shares 5,625,000 11.28p
27 June 2005 Acquisition – shares in settlement of fees 225,000 2.61p
01 August 2005 Exercise of options 2,610,967 0.25p
18 January 2007 Exercise of options 596,792 0.25p
31 July 2007 Exercise of options 4,028,292 0.25p
11 June 2008 Capitalisation of debt 79,500,000 0.25p
11 June 2008 Placing for cash 25,000,000 0.93p
20 August 2008 Share issue in settlement of fees 103,700,000 0.25p
20 August 2008 Sign-on fee shares 36,000,000 0.25p
20 August 2008 Placing for cash 18,000,000 0.25p
09 January 2009 Placing for cash 35,000,000 1.86p
09 January 2009 Share issue in settlement of fees 12,000,000 0.25p
02 December 2009 Placing for cash 18,333,335 6.00p