Sirius Petroleum Share Discussion Threads

[daniel levi bmd] 07/5/2017 15:35

Great Video.

Of Jekyll & Hyde, ethos Watch it!






Mr Hyde
(Dan)
x

[twentysixpointtwo] 07/5/2017 15:34

Years of disappointment does that to you Jenny. Another great escape though - let's hope it's our last. I see you're posting your poetry on Small Heath Alliance 👍

Btw (1). Where's that DVB who posts on here from time to time ;-)

[htrocka2] 07/5/2017 10:06

1alfi...I cannot tell you what the exact percentage is now, however, back in 2010 they owned 5% after forming the J/V.

'indeed what actually is our end game ?'

If I was the contractor carrying out work on a project that has already been classified as 'Huge' and am already 'in bed' with them, I'd be planning my ultimate move. Remember that as a subcontractor with a 50% holding in a subsidiary Tangient Nigeria Ltd, although controlled by the SRSP board will already have a voice. It was Taglient that got us into the Owena/Guarantee relation ship. By forming the SRSP/Taglient partnership....they didn't leave it there.....and remember that the PIGB may insist that SRSP be Nigerian registered. With the subsidiary already Nigerian registered and an option for SRSP to take over the final 50% a reverse into this seems to already have been thought through carefully. Going this route will mean that all options, warrants etc, remain valid and intact.

The end game....
Before there's any attempt at a take over I believe we'll first be floated on the Nigerian Stock Exchange thereby raising more cash and.....retaining our FTSE AIM registration.

(I might as well post that this is my opinion only and all caveats apply)

[1alfi] 07/5/2017 07:03

Ht - what percentage of Sirius is held by Taglient Nigeria ltd for you to consider it to be 'sizeable' and why must it be relevent to our end game - indeed what actually is our end game ?

[htrocka2] 06/5/2017 19:41

Taglient Nigeria Ltd, in whom we have a J/V via a subsidiary ie, Sirius Taglient Nigeria Ltd, already hold a sizeable percentage in SRSP...hence must be relavant to the end game.

[dr rosso] 06/5/2017 15:00

Taking up the remaining 50% of the T subsidiary looks a certainty. Quite possible that BTG got ditched and T will handle in-house all midstream aspects of the new op, incl. storage, processing, distribution, offtake.

[dr rosso] 06/5/2017 11:45

My Eni oil rigger friend clarified perfectly that progress updates are not determined by the O&G men, but by the heavily invested financial backers. For pis here, be they lths or mug punters, ten-times bitten =11th time shy. For those who remain unfamiliar with how the rope-a-dope AIM game gets continually played out...

The ubiquitous working capital requirement without specifying the destination of the funds raised, tho in SRSP D accruals of £1m need to be cleared to create a clean slate ahead of whatever is coming next.
Step up loyal broker mates at Cornhill who'll stump up the cash. 100m at 1p will do the trick nicely.
Unfortunately not quite so straightforward as supporting the Co. Such placings are often forward sold into a spike to generate a handy 20% or so quick return, before the hyped share price sinks back down.
If form follows, a few familiar "friends", "semi-itks" and let's call them "associates", should be popping up out of the woodwork around this time, using various social media to assure us all how swimmingly things are going. Cue an increase in volume as the newbies pile in and the lths cannot resist a cheeky top-up.

That being the case, a smidgeon of actual good news should follow to lend some weight to the hype, notably the Polaris vessel has zigzagged around Ororo and paved the way for rig mobilisation. Hats in the air, and all that.

More likely, it's the final roll of the rinse-and-repeat trick. Expect no further significant news thereafter for at least a month, and of course the share price will sink back. The wheeling out of old friendly faces should be setting alarm bells ringing, rather than generating excitement of the start of real O&G action. There'll be some invented pretext for withholding any subsequent stored up RNS releases until, if things are on schedule, the anticipated announcement of mid-June spud.

Our consolation is that next week's lined-up RaR part 11 in the series should be the last one. The real behind the scenes events cannot be hidden forever. Due to the linked nature of multi-asset progress, the release of any mid-June likely drilling update is going to give the whole game away and the big pic should be revealed in its entirety, be it Ad Doc, cprs, JOA, producer-operator or t/o.

[sherl0ck] 06/5/2017 11:01

BH - just curious as to whether he is indeed part of the current Board / a non-Director / part of a new structure etc. I can see the rationale behind arguments on both the takeover & longer term production sides of the fence. I'd be happy with a quick result that takes away any exit decisions, but I also see the benefit of significant longer-term growth potential.

Bron - Simon could have been working on some pretty complex project finance across Ororo and other potential assets. RBL & debt structure modelling and negotiations, consortium/JV financing etc.

[bronislav] 06/5/2017 10:26

Can anyone suggest a reason why we had simon hawkins involved
Even more a puzzle ,why has he not been replaced now we are on the cusp of production.?

[bumhammer] 06/5/2017 10:13

So what you saying sherlock? You starting to think this could well be some form of take over?

[htrocka2] 06/5/2017 09:18

Sher10ck... I couldn't find any reference to his appointment regarding Corporate Governance...and was rather hoping for a 'Directors Share holding rns before last Friday, the beginning of the closed period prior to results, however, I did notice, and no one made a reference to the 10m 'buy' was slipped in after hours, about 10 days ago....and wondered if that was possibly his holding? If he has no shares, then one would have thought that some form of performance incentive/bonus would have been proposed. ie, options for instance. A 'directors holdings' or an 'options grant' should have initiated and rns. As we got neither, I tend to assume the 10m 'sipped' in after hours, was his?...hence not a director.

[sherl0ck] 06/5/2017 09:10

HT - COO title normally conveys executive responsibilities (as opposed to 'Head of Drilling' / 'Operations Manager' etc). I'm not aware of any other company where the Chief Operating Officer doesn't automatically have a seat at the top table as part of the Board. If he's not a Director then would Sirius have needed to RNS his appointment?

Saying that, Bobo mentions that he's pleased we've recruited PG but doesn't express the typical sentiment of welcoming him to the Board. Hmmmm.....

[htrocka2] 06/5/2017 09:03

Sherlock....is he a Director?


ref; Bron..
'first..directors to be paid when their task is completed. who will be at the helm when ororo is drilled.
Think ororo2A'

Both J.Pryde and Bobo have 17m share options between them exercisable at 5p '...on the completion of a reverse transaction, as defined by the AIM rules, by the company.

Options are only valid as long as the holder is an employee/director of the company. If the share price doesn't reach at least 5p+ in the next 8 weeks , the completion of H1,do you honestly think they'll give these options up?...baring in mind that they'll still have to be working for the company to claim them. This is why Fletcher, Kejriwal and Havoc, to name just a few, were granted warrants as opposed to options.

The bottom line...if this eventually gets taken over, I doubt that it'll be for under 10p a share.

[sherl0ck] 06/5/2017 08:41

Peter Gregory still hasn't been added to the website Director's section....

[bumhammer] 06/5/2017 07:54

I like your thinking Bron

[bronislav] 06/5/2017 07:37

Everyone focusing on the drilling of ororo,everything being put in place to facilitate that drilling,however could it be something far more important to shareholders waiting in the wings is to be announced first..directors to be paid when their task is completed.who will be at the helm when ororo is drilled.
Think ororo2A.

[shez20] 05/5/2017 23:35

Where's tidy your pal oilbuy?

[shez20] 05/5/2017 23:28

Oilbuy your reply is not even worth me replying to! Have fun long term holder!!!!!

[6cer] 05/5/2017 23:21

Hurry up Sirius I'm waiting for my £1.00 per share and my Burger King franchise.