Sirius Petroleum Share Discussion Threads

[twodegrees] 15/8/2017 16:29

So Dr Rosso, does that mean suspension imminent and then Sirius shareholders receive a percentage of shares in the newco based on the percentage that Sirius has of ororo

[dr rosso] 15/8/2017 16:27

RTO still very much on the cards, as per original intention back in 2011. Target transforms into NewCo which retains the name Sirius. Fully transferable contracts. Once signed over, we have rig, production. No way in the world is this just about a marginal oil field. Primarily gas, led by brand new BoD. NewCo in control.

[astralvision] 15/8/2017 16:05

thanks drrichard
Fingers are crossed, it would fit in.

[drrichard] 15/8/2017 16:03

Good work Astralvision! Fingers crossed it is our boat.

[astralvision] 15/8/2017 15:57

Link works, Xiang Rui Kou is big green lump NW of Brunei, hover over it to get name.

[astralvision] 15/8/2017 15:56

don't know if link will work




if not type 'Xiang Rui Kou' in search box. Current position, literally a few seconds ago, was approaching Brunei coastal waters, which is just before Labuan, where we think COSL Power is.

[astralvision] 15/8/2017 15:53

dn

According to marine traffic, yes, looks to me like the suggested heavy-lifter is still on course for Labuan. Whether this vessel is goig to pick up COSL Power, who knows.
Will put a link up in a minute

[jangobatley] 15/8/2017 15:49

WFTA could come down heavy... rig details foggy at moment and RMs always apt to get spooked without full disclosure. Thinking flat for now.

[deadly nightshade] 15/8/2017 15:21

anyone kow what this xiang ship is doing is it still on cource for labaun??

[qprallan] 15/8/2017 12:21

wiserthanyou. Please shut the door behind you and take cautious with you.

[htrocka2] 15/8/2017 11:52

Wiserthanyou welcome aboard,I take it for granted we can expect more pearls of wisdom from you before you leave us?

[vatnabrekk] 15/8/2017 11:43

Thanks wiser, it's good to have a cheery soul on the BB!

[cautoussid] 15/8/2017 11:41

the 1 million or 1,2 million share buyers or some of todays other buyers
may be happy to see share price still that they can buy at Todays price with that number of sellers cleared as people wait for next update ,have todays buyers timed their buying well
as people watch and wait for more srsp to deliver more news

[htrocka2] 15/8/2017 11:05

vatna... (22/09/'15 rns)...(40% is the controlling interest)


'In addition to applying for the Well Permit, Guarantee Petroleum, Owena Oil & Gas and Sirius (together "the Parties") intend to apply to the Ministry of Petroleum Resources in Nigeria to legally ratify Sirius' 40 per cent. 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, which comprises Sirius' 40% interest, Guarantee Petroleum's 32% interest, and Owena Oil and Gas' 28% interest.

[cautoussid] 15/8/2017 10:46

share price down 4% although looking at the buys as well some of the larger buyers look to be liking this lower price before news on rig with buys such as the 1 million share buy and the 1.2 million share buy

[cautoussid] 15/8/2017 10:32

watching to see if an update on rig soon
to see how this share price may move then

[vatnabrekk] 15/8/2017 09:48

HT: Would that rule apply if SRSP only has 40%, which could be regarded as an investment rather than a controlling interest - controlling normally means more than 50%. Also, if the operator is one of the consortium, such as Guarantee Petroleum but not SRSP directly, then would this AIM rule still apply requiring suspension?

[oakville] 15/8/2017 09:33

So what does this value the company at then?

[htrocka2] 15/8/2017 09:26

The rns emphasises that this is an 'Investment Company'....read on. (parenthesis are my insertions)



AIM Rules..

Controlling stakes

Where an investing company takes a controlling stake in an investment,(as in the case when first oil is obtained and SRSP, as joint operator, control 40% of ORORO) there should be sufficient separation between the company and the investment to ensure that the investing company does not become a trading company. There should also be sufficient separation between the investment and any other investments the investing company has made; crossfinancing or sharing of operations, for example, should be limited.

If an investing company is intending to undertake an acquisition that might result in it not being an investing company, for example, it will become an operating business following the acquisition, the application of rule 14 of the AIM Rules for Companies ,reverse take-overs, should be considered.



The bottom line.....Suspended before Christmas.

[bidmoll] 15/8/2017 09:20

Out of UK so can't check myself. Any press coverage? Thanks in advance