Sirius Petroleum Share Discussion Threads

[vipste] 01/6/2017 18:02

If you want signals what's that trade just appearing from 08:53? Another 5m again....at that time it "should" have been a sell so what was it?

[detective captain sean signal] 01/6/2017 17:47

It's all about the signals DN. The art of reading signals has been passed through my family for generations. Keep the faith.

[deadly nightshade] 01/6/2017 17:38

please no more chart predictions the rubbish spoken about charts gets on my wick. people were saying a month ago that chart says 2p now captain detective your saying in 3 weeks new high.what utter rubbish your no better then a fortune teller. my brain says this is on a down trend lets hope its soon reversed.

[shez20] 01/6/2017 17:35

Conspiracies :) should it have been a sign of delays and what's to follow when a 'large backer' began to sell earlier in the year?

[htrocka2] 01/6/2017 17:11

If there's no news within, say, a week, are they engineering a 'sell off'.

[detective captain sean signal] 01/6/2017 16:47

This drop does appear very timely with the chart CF has been creating over the last 6 months. Will be back up over year high in 2/3 weeks.

[shez20] 01/6/2017 16:15

Exactly and am still convinced another placing is on the way when they get round to giving us a rig date!

[twodegrees] 01/6/2017 16:13

oil price movement cannot be the reason?

[deadly nightshade] 01/6/2017 16:13

well i hope that rig has some turbos fitted as its going to take some effort to get it to ororo from where its based now and to have a drill completed or even started by the end of the month.

[twodegrees] 01/6/2017 16:12

Is this the final tree shake, or is bad news coming or is a pacing on way....for a company projecting good news many seem to be selling...

[elliotset] 01/6/2017 15:52

The investing company focused on oil and gas exploration and development opportunities in Nigeria, said the contract is for a multi-well campaign, which will commence in the first half of 2017. Schlumberger will provide Sirius with a comprehensive package of managed and integrated products and services.

[shez20] 01/6/2017 15:44

Cause we are set to miss another deadline no matter how some on here sugarcoat it! On the surface we have made very little progress in 7 months! They rns a rig which has been chose that has laid idle for about a year and don't even put a date on it! This is the type of communication the company has had with its lti for years! Poor at best! Whether we are lite years ahead behind the scenes I don't know but I do know the same posters on here have regurgitated the same mish mash for a number of years and although it sounds great the company have so far achieved nothing on over 3billion shares in issue! Ouch

[aventador] 01/6/2017 15:37

They've had plenty of time to get the shares in the right hands why's the share price now tanking surely should be on the way up now not down again?

[htrocka2] 01/6/2017 15:19

Sher10ck..... interesting point,.. I too have a theory. We're told that news of the final element that includes the Project Finance will be released in due course, yet after that rns we're then told that the convertible loan had been cancelled and a further £2m was raised by issuing 267m more shares (having already insinuated that the money was already in place), So why a cash call by issuing 267m shares if the money's in place?. My gut feeling is that money is not the problem here but that all the shares are not yet in the right hands.

[sherl0ck] 01/6/2017 13:53

HT - The Board have talked a few times at AGM etc about how Reserve Based Lending (RBL) may be important to us. A CPR is absolutely vital to underpin such a facility. Look again at the timescale of when Simon H worked with us. He hasn't been replaced. The Glencore deal was a "pre-financing facility of up to $65 million, which will be netted against the initial sales of crude oil production." (3/5/13)

Now a true story.... some years ago we had our hearts set on buying a property but after the offer was accepted we hit a snag in that quickly selling our house and releasing the required equity to complete the transaction was proving harder than anticipated.

The property owner had much deeper pockets and hatched a plan. He called me one day and offered to buy our house, which would then release the equity we needed to complete on our purchase of his property. He kept our place on the market for a few months before it finally sold.

It was quite an unusual transaction but it worked perfectly in that both parties got exactly what they needed. Might be completely irrelevant to Sirius...but I have wondered if there are other ways to secure our asset pipeline and progress stuff other than by just issuing more equity.

I believe there are things that we have access to that others want / and there are things that we need that others have in abundance. There just has to be a smart way to cooperate and ensure everyone is happy.

[htrocka2] 01/6/2017 12:36

It looks as if the primary object of the CPR was to 'assist the company in it's funding discussions'


Competent Persons Report on Ororo Field (22/04/16)
Sirius is pleased to announce that it has engaged independent petroleum consultants, Rockflow Resources Limited ("Rockflow"), to produce a Competent Person's Report ("CPR") on the Ororo Field located in OML 95, in shallow waters offshore Nigeria, to assist the Company in its discussions with potential funding providers.

(*note the plural)

then Schlumberger joins the team.....


'Vendor Finance Consortium
Following the execution of the agreement with Schlumberger, the Company is now in advanced discussions to finalise the participation of the last member of the Vendor Finance Consortium and intends to announce further details in due course regarding the final elements of the financing and operational service agreements.'

'''and we're down to the 'last member'....(singular.)


...and waiting for ....'details in due course'

[sherl0ck] 01/6/2017 11:11

A couple of thoughts:

- if we're not going down the long-term production route, Rockflow's Ororo CPR will absolutely turn out to have been vastly more important to us than actually drilling O-2. Those calling the unpublished CPR a complete waste of money have already got it wrong....perhaps majorly so.

- if we do achieve everything that I think is possible, we'll look back and consider that the cost of so doing (equity raises for working capital) has actually been remarkably cheap in the grand scheme of things when you look objectively at an 'equity issued' versus 'project value & success' ratio. Consider the equity cost to TSTR for a start.

[vatnabrekk] 01/6/2017 00:09

Where it says "Nominees" then that refers to them holding shares on behalf of numerous individual customers.

[drrichard] 31/5/2017 23:13

Yasharsad, not sure that figure reads as you might interpret. Take HL, with circa 11.4%. Surely this just reflects the PIs with their holdings in HL SIPPs and ISAs, not the "personal holding"of "HL" per se?

[yasharsad] 31/5/2017 23:02

I dont know about twitter and those who want to pump and dump this stock. But as much as the truth is concerned, 42% of srsp shares are owned by IIs. This is not a small number, barely you can find a company that nearly 50% of their shares are in big investment banks hands. https://markets.ft.com/data/equities/tearsheet/profile?s=SRSP:LSEOrhttp://www.siriuspetroleum.com/investor/

[bumhammer] 31/5/2017 21:22

Yeah thanks adven, rocka making top up funds from insomniacs ringing his srsp helpline £1 per min 0898 jobby

[aventador] 31/5/2017 20:58

Lol bum that made me chuckle about the plants hahaha rockas riveting links send me to sleep every night.