Sirius Petroleum Share Discussion Threads

[twentysixpointtwo] 07/9/2016 08:33

Sorry to say I've pretty much written this investment off. This transformational RNS just never arrives does it. I'd be delighted for all to be wrong but time to stop believing those emails and enticing posters who occasionally pop up to keep us all entranced. It's like a cult. Good luck guys.

[bronislav] 07/9/2016 08:26

There have been numerous rumours over the last few years that there would be no need for an AGM.These were just RUMOURS but there may well have been some truth in those rumours.Egm needs fourteen day prior announcment if memory serves me well although I stand to be corrected on that ,if so then back from the 30th that would make the 16th the last date for EGM announcment.

[bumhammer] 07/9/2016 08:20

Dr rosso, I understand yours and SOL'S calculation for today being a deadline. Is this by Aim rules non negotiable , or do you think there would be some kind of extension they could have applied for??

[1alfi] 07/9/2016 08:11

Need 2p to cash warrants. Can't see that happening without news being released. Maybe cpr revelation in the pipeline.

[sherl0ck] 07/9/2016 08:09

DocRosso - you mentioned that Havoc have created a subsid, Havoc Oil Ltd. Do you have a link to any info please?

[bronislav] 07/9/2016 07:57

Won't it be the parent company that pays them.The only way I could see the monies to be available is from the triggering of warrents .They cannot raise anymore cash without an AGM and it seems likely that we won't need an AGM .

[dr rosso] 07/9/2016 07:52

You tell me. They must have something in mind, otherwise why make such a statement. Cash on commencement of drilling. Maybe Sirius Taglient, like GP, made a bundle on oil swaps? If GP owes $15m tax, it too must have substantial monies, and why hasn't any of that been used to get Ororo moving?

Note too the declaration in AR that the remaining 50% of S-T shares are available at a nominal price and will be acquired. Why are they waiting? For NewCo to be formed

[bronislav] 07/9/2016 07:45

How will they pay the directors drrosso.?

[dr rosso] 07/9/2016 07:35

If Sol and I are correct, today is the deadline day for giving the 21 (+2) days notice required for agm. No announcement today means there'll be no agm. If that is so, hello t/o, hello NewCo.


Bit of a clue was the Ds being paid off in cash by commencement of drilling, when it would've been so much easier to do so from oil revenue once production starts, be it in shares or cash at that point. NewCo starting up with decks cleared, washing its hands of $1.5m D accruals.


After all the transfers, chances are that 75%+ of the shares are now in concert party hands.

[htrocka2] 07/9/2016 07:16

'it is quite a while to tie up what monies I have left ...'

twodegrees... you're obviously not an investor, A lot of people on this board have been here 4, 5 and 6 years...and as far delisting is concerned, if you took the trouble to research Regan, you'll know it's not his MO.

[twodegrees] 06/9/2016 21:36

so htrocka2 are you thinking we will go the same way as before as it is quite a while to tie up what monies I have left here if nothing is going to happen again. If it was suspended what failsafe do ordinary share holders have that the company goes private and it is delisted...if that was the case...then we would all be burnt again.

[htrocka2] 06/9/2016 21:32

'previous suspension that went on and on could face the same thing again.'


The previous suspension was announced one month after the AGM and was suspended for thirteen months....The good news is that during this period they can have an EGM, make deals (as in the San Leon case) and most importantly they'll be no more need for ambiguity, every thing can and will come out into the open as trading will be closed. They change to a 'production Company' the day they suspend and issue the new AD. Although we'll not be able to trade, never the less it'll be an exciting period just to know exactly what we have going forward. It could surprise us all.


With ref to Dr's post...any single person, concert party or entity owning 75% of a listed company no longer requires to ask for share holder approval for resolutions...but merely passes them him self.(that includes delisting)however, this is usually accompanied by a 'Letter of Intent'. The LSE frown on such holdings and like to see at least a 40% free float.

[bronislav] 06/9/2016 21:27

Alfi.ditto.

[1alfi] 06/9/2016 21:26

I will be surprised if we have an AGM date RNS tomorrow

[bronislav] 06/9/2016 21:11

Nigeria needs gas and whoever is behind Sirius has been working to a plan .somewhere along the way the large shareholders in Sirius will want a return .The directors will be paid off soon which in itself tells us something obvious .i cannot see Why would it be inanyone's interest to have a long suspension .

[twodegrees] 06/9/2016 20:55

Dr Rosso so whatever happens us wee shareholders who have been here for years and through a previous suspension that went on and on could face the same thing again.

[dr rosso] 06/9/2016 20:07

Stock-for-Stock Acquisition ("B" Reorganization)

In a "B" reorganization, the acquirer exchanges its voting common stock for control of the target, defined as ownership of 80% of the "vote and value" of the target's stock. The target survives as a subsidiary of the acquirer, shielding the acquirer from the target's liabilities. The buyer need not acquire the entire 80% of target stock at once, but must own at least 80% upon completion of the acquisition. This allows the buyer to acquire the target's shares gradually in what is known as a "creeping" acquisition. Note that since this structure does not require 100% of the target's shares to be acquired, minority shareholders may retain a stake in the target.

[carados] 06/9/2016 19:13

So rns tommorow you think dr rosso being a deadline day?

[deadly nightshade] 06/9/2016 19:04

You get the feeling something is brewing here. Yesterday when you could not buy any for a period of time makes you think that some large buys were being filled. I think a clue that we will know if big news is about to be anounced will be in the fact that there will be no large sells as like Dr R has stated these large sells are still being used as amunition to keep the share price down even today we have seen these sells which makes me think news is not yet close.

[1sonic] 06/9/2016 17:33

£10,000 late buy!

[1alfi] 06/9/2016 15:36

"Ninogas plans to enlist on London's AIM in 2016 and is well equipped to sign confidentiality agreements to review and evaluate assets via access to datarooms, attend technical workshops and demonstrate financial readiness to acquire should an asset that fits our portfolio plans be presented to the company."

[bronislav] 06/9/2016 15:15

Alfi. I see ninogas planned to list in 2016 .formed in November 2015 but could have had plans well before that date.
5UNS..OCEAN RIG. A couple of their drill ships were in Angola drilling in 2015.one in particular catches the eye as it was also used to drill in Tanzania which fits with Stein and Taylor through their associations with Ophir.

[dr rosso] 06/9/2016 14:48

HTR. 2 Owena O&G subsidiaries, Owena Oil and Owena Energy would fit the bill perfectly as we are looking at 2 Ondo blocks.

See that Havoc Partners LLP has created a subsidiary Havoc Oil Ltd. to focus on operations in Ondo State.

[5uns] 06/9/2016 14:48

Ocean Rig - ORIG