Sirius Petroleum Share Discussion Threads

[mr roper] 21/5/2017 21:20

Or not... aaaaaaaaaaarrrrgggghhhhhhhhhhhhhhhhhhhhhhhhhhhhh!

[drrichard] 21/5/2017 21:03

Agree, guys. If they want to have a prayer of honouring the statements re at least spudding, if not finding HCs within H1. The rig need to be on site T minus circa 7-14 days, I reckon. Which leaves around three weeks max.
But, you would think that our BoD will have to decide on the final partner(s)some time before that. For one thing they have to deal with the DPR re proving they can pay for it. Notwithstanding deferrred invoicing for the major part of the program there will still be bills. And, of course Director's outstanding.
An exciting few weeks.

[1sonic] 21/5/2017 19:33

You would think so Pipe!! They have to announce and reveal all! Our time has arrived! We can only count down from here. 35 trading days maximum!

[pipelinepete] 21/5/2017 17:54

Got to be this week sonic, or at least before month end imho

[1sonic] 21/5/2017 17:33

35 trading days left till end of H1. Which day will the trigger be pulled and let off the brakes! Got to be any day now

[htrocka2] 21/5/2017 13:29

'and we dont know the new terms...'(of the lates FTSA)

Why not?, each time they updated the FTSA in the past we got an rns with the new amendments.......not this time.
We never got the commissioned Gaffney report of lower sands and are still waiting for the promised JOA and fourth partner announcement.



The original FTSA refers to the production of oil...a lot has happened since then. Gas, that was totally over looked as a waste product and was to be flared off, has now become a major part of the equation. The DPR did write back and say that the internal affairs of the group are beyond their control as the agreements were made prior to new legislation.

My main rant is nothing to do with the above...just people screaming 50p..50p.. I first came into this share when they promised to drill in 2012 and all you heard on the boards was £1 by Christmas, a £1 by Christmas. Never in my wildest dreams would I have believed anyone who said ...never mind the £1 by Christmas, this is going down to one third of a penny....which is what happened.

[pipelinepete] 21/5/2017 12:44

Final week of May Chill 6cer

[cornishtrader1000] 21/5/2017 12:22

9 years...Oil price dropChange in administration Change in Sirius boardChange in Sirius backers (Regan)Packaging assets in subsidiaries Nigerian corruption

[solarno lopez] 21/5/2017 12:17

I have no idea 6cer but I am involved with a private Africa centric oil exploration company.

They have assets with farm in deals but with no oil having been pumped.

The company has been in existence for 6 years

[6cer] 21/5/2017 12:14

Why have they taken 8 to 9 years to get to where they are today ffs ?

[solarno lopez] 21/5/2017 11:49

Bron, BH I too like sweet and sour with egg fried rice

[bronislav] 21/5/2017 08:53

Dorset cereals muesli pipeline..might risk a weetabix tomorrow and then read again the rns,s.

[pipelinepete] 21/5/2017 08:38

Weetabix bron?

[bumhammer] 21/5/2017 08:03

Hit that one out the park there Bron. Hotrocka, can you comment on that??

[bronislav] 21/5/2017 06:53

MAY I ALSO DRAW YOUR ATTENTION HTROCKA TO.

Rns.7413z.

"In addition to applying for the well permit,guarantee petroleum,owena oil and gas and sirius together with the DPR(together the parties)intend to apply to the ministry of petroleum resources in nigeria to legally ratify sirius,s40 percent participatory interest in the ororo field.This is subject to the AMENDMENT or WAIVER of certain TERMS of the FTSA which have been highlighted by a recent review of the FTSA by the parties in order to confirm each of the parties rights and economic interests under the FTSA.

They reviewed and amended the terms Htrocka and so we cannot use the old terms and we dont know the new terms so cannot use the ftsa in trying to establish the end result.

[bronislav] 21/5/2017 06:23

HTROCKA.

RNS506OA.2015 interim results.

"During the first half of the year,our strategy has been to focus on seeking to maximise the value of our EXISTING ASSETS(plural)and pipeline of assets.

THE COMPANY STATES THEY HAVE EXISTING ASSETS HTROCKA.

As for ororo I believe strategically it is important to the whole operation and as such has been left until the end,ie the last piece of the jigsaw ...everything else readied and the spudding of ororo will trigger the ftsa and mean we have all the other assets ready to go and ororo FTSA. Ratified and then we would be in a position to sell the lot .
A deal could have been signed and on the very second ororo is spudded the deal becomes complete and a sale completes.

[htrocka2] 21/5/2017 02:45

'If we announced a takeout would you give two monkeys about holding them accountable for failure to spud..I doubt it.


read the FTSA... Take over what?.... without spuding and first oil, they have no 40% economic interest in Ororo... therefore nothing to take over and as Guranatee Petroleum correctly state, remain 'Technical Advisors' to the Ororo project. That's why were currently worth 1.1p. No one's going to take this over until the 40% economic interest in Ororo is in the bag.

The FTSA
Upon production of oil, Sirius will pay a further US$500,000 in aggregate to Guarantee and Owena and will be entitled to a preferential cash flow from the production of crude oil to recover its investment, receiving 88 per cent. of net cash flows from Ororo, until full Cost Recovery is achieved, at which time Sirius' cash flow entitlement will revert to 40 per cent. in accordance with its equity interest.

What part of this are you having problems with ?

they haven't produced any oil yet..
they haven't paid the US$500,00 post oil payment..
they haven't received the 88% cash flow yet
they haven't received a single penny from any oil yet..... and posters are screaming for 50p a share....How about eliminating some of these obstacles first and fulfilling the legal obligations of the FTSA. first....until then we're only worth just over 1p a share.

[bronislav] 20/5/2017 22:45

BH. I just cant believe it would take so long to spud a well,particularly when you see the quality of our drilling partners.The drilling of ororo has always been a contenious issue and if something we were intent on surely it would of been done by now..I am mindfull that there is much we are not aware of and so I admit to just guessing ,there are many on here with more wisdom about sirius and the oil and gas industry but its good for us all to share our thoughts.good thing is im sure we dont have too ong to wait to find out. My unvcertainty stems from my belief that the true orchestrators behind sirius will want the best deal for themselves ad so walking away from a pipeline of assets on offer in nigeria under the current climate of low oil prices etc doesnt seem the bestdeal.so a takeout with a continuing interest would be my prefered solution.

[bumhammer] 20/5/2017 22:29

Bron, you are a wise man regarding Sirius, but you can't seem to make your mind up between takeout or production. You seem in the take over camp again now.. May I ask why?

[bronislav] 20/5/2017 22:27

The ondo state governer is the chairman of the senate commitee on petroleum...now I dont suppose that will do us any harm.

[bronislav] 20/5/2017 22:05

Ht rocka..they have finished the subsea survey but told us nothing...to me thats because its not for us but to satisfy someone else.There is a scroll full of stuff we havent been privy to but that doesnt mean it hasnt been done.would you sign up to a deal if you didnt know who your partners were.?
If we announced a takeout would you give two monkeys about holding them accountable for failure to spud..I doubt it.

[deadly nightshade] 20/5/2017 20:55

50p 6cer lets not get to carried away be nice to see 5p for starters

[cornishtrader1000] 20/5/2017 20:51

I to firmly believe that many of us will be pleasantly shocked when everything is out in the open. With the expected further dilution I think 50p may be out of reach but who knows. What makes you confident of such returns?

[6cer] 20/5/2017 20:28

How come all you posters out there who keep praising the assets can't see a value of at least 50p per share ?

[deadly nightshade] 20/5/2017 20:17

looking back through rns's in fairness to sirius they have tried to keep the dilution of shares to a minimun, unlike some aim companies that would not think twice in diluting existing shareholders holdings to next to nothing. if this ends up at 3.5 odd billion shares with some tasty assets revealed then that should leave plenty of scope for share price growth. also looking back through past rns's its interesting how these sirius subsidaries keep popping up. also one other positive i like is how no oil journalist has ever managed to get a grip on whats going on here, its like a complete lockdown.