Sirius Petroleum Share Discussion Threads

[5uns] 24/10/2016 13:37

I know a broker who is attending the AGM. Any specific questions anyone wants asking?

[dr rosso] 24/10/2016 13:23

Well worth a look over at HNR. Looks like the C boys are pulling the same stunt there as they worked here. Grab a batch of warrants and placing shares. Engineer a spike to suck in what TW calls the bb morons. Talk of 70p.

Watch what happens. It'll be taken up towards 50. C Forward selling in the 40s.
Await the crash ....

[bronislav] 24/10/2016 12:41

Drrichard I am confident Sirius know exactly what their assets /potential assets are worth .The pipeline is more difficult to value as some of those assets may not have had the same work undertaken on them as for example ororo has .For me and it is just my opinion ,ororo has had far more data than we see in the public domain.Wishful thinking taken into consideration I still believe we are sitting on significant value.

[dr rosso] 24/10/2016 12:40

Schlumberger will have been able to give an initial probable estimate because it received the Gaffney cpr which included the potentially lucrative deeper sands. I dare say the calcs will be probabilistic. From that they will have a valuation to work on for starters.

Once they drill into those deeper sands + go in laterally on the upper zones, things will be clearer. Usually there's a significant increase in reserves at that point. At present they'll have a target value in mind. I recall Bobo mentioning Ororo likely to be worth $100m (£80m) to Sirius. Likely that's be a sell-on valuation of a standalone field for Development Phase 1, completed by early 2017.

Based on 3bn fully diluted shares, that rerates Sirius stake in Ororo to say 1.7p Nov starter platform moving up to 2.7p March. As part of a strategic multi-field hub, increase to 4p-5p. Further upside as the fields move into development Phase 2. All this for Block 95. Block 241 awaits.

[drrichard] 24/10/2016 12:31

Re valuation, Bron and x1000, it occurs to me that if the BoD can get a valuation sufficient for funding, JV or VBL then a 3rd party could also so do?

[bronislav] 24/10/2016 12:24

X1000...they will be able to value it of course ,however my post was suggesting us pi,s would struggle.

[pipelinepete] 24/10/2016 12:24

Special resolution egm is 21 days? No? Does an rns require 2 day postage? Is the day of the agm a clear day? Let Bradshaw call bick Lol,Shareholders are expecting something exciting this week imho

[dr rosso] 24/10/2016 12:17

EGM call requires 14 days clear notice. So if they want to hold it on the morning of the 17th Nov ....

Notice published on Mon 31st Oct, allow 48 hours for postal receipt. Thurs 3 Nov is the first clear day. 14th clear day is 16th Nov. Meeting on 17th.



Bored now.

[dr rosso] 24/10/2016 12:13

Let's have another go. 21 clear days

Notice given today Mon 24th, allow 48 hours for posting to shareholders...
Received on Weds 26th.


First clear day of the 21 becomes Thurs 27th. Count ....


27 28 29 30 31 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

For AGM on 17th Nov, the last day for notice has to be published on Mon 24th Oct.


An example will explain the way this works: a plc AGM notice may be posted on July 1. If the articles state that notices sent by post are served 48 hours later (excluding weekends and bank holidays), notice will be deemed given on July 3. Day 1 of the notice period will then be July 4; day 21 will be July 24, which means that the meeting can be held on July 25.

[1alfi] 24/10/2016 12:08

ht - Why did the Fed Gov give Sirius only 3 years in the first place instead of 25 years ?

[jamie40] 24/10/2016 12:08

The 'sells' at 52 are in fact buys!

[x1000] 24/10/2016 11:59

Surely they have been working on that for years Bronislav !?

[bronislav] 24/10/2016 11:55

X1000.unless someone knows what assets we have and the pipeline and infrastructure that may be in place ,cor,s ,what's below Ororo etc then surely it is impossible to value.

[htrocka2] 24/10/2016 11:52

1alfi
24 Oct '16 - 10:52 - 56489 of 56498 1 0

could a take over/buy out still be possible without resolutions being given within the time frames quoted above ???


Nigerian Federal Ministry of Petroleum Resources (FMPR) has agreed to grant the Ororo Field Partners a three-year extension to the Ororo Field Licence (OML 95) ("Licence") with effect from 1 May 2016.

`1alfi...ask yourself...if you were selling/merging or proposing a buy out, having spent about 8 years on this venture, would it not be to your advantage to wait a further 31 months and negotiate with a 25 year field licence or do you think you'll have more advantages, negotiating leverage and a better deal with 31 months left on the Licence.?

It reminds me of a friend of mine, who renovated his house then put it on the market. It sold immediately, the buyer kept in on the market without even entering the property, and sold it within three months for a further £40k.

[dr rosso] 24/10/2016 11:50

£600m for a 20p takeout. I still don't rule out any of the big indigenous Cos

[dr rosso] 24/10/2016 11:47

I can take a hint lol

[x1000] 24/10/2016 11:45

Bronislav, your suggested scenario looks probable given all the faffing around to date and based on the assumption that the bod are not incompetent.

What would it be worth ? £200- £300m ? More ?

[bronislav] 24/10/2016 11:36

Could Sirius have lined up funders or some entity/entities for each asset development and a consortium then steps in to take over from Sirius,offering cash and shares in the new vehicle ..I would personally prefer cash and shares as I believe there would be significant growth in a new vehicle.

[dr rosso] 24/10/2016 11:18

Deleted, go to post 508. 6 green ticks for a blank space, lol

[solarno lopez] 24/10/2016 11:06

it is in green I believe

[1sonic] 24/10/2016 11:04

x1000 yes it has on hl website under trades by volume!

[x1000] 24/10/2016 11:02

My 1450000 hasnt shown up yet

[1alfi] 24/10/2016 11:01

thanks Sol

[solarno lopez] 24/10/2016 11:01

could not agree more