Sirius Petroleum Share Discussion Threads

[solarno lopez] 03/11/2017 11:52

Okay Doc I will add at the 1p level

[dr rosso] 03/11/2017 11:49

I don't have an issue with 4bn fully diluted. What the mcap will be on readmission depends pretty much on what is revealed about the mysterious pipeline of assets. With full funding in place, and drill ready, a 2p starter platform looks reasonable to me.
That'll increase sharply when drilling proves up the 2P. Revenue in on oil flow is complimented by 88% return on costs + a $10m revolving credit facility from BP Oil. At that point, RBL can kick in to go in on the much bigger stuff elsewhere that they have lined up with their illustrious partners.
If it returns at 1p, fill boots....

[undulydiligent] 03/11/2017 11:45

All, first post here. Not been in long, 6 months maybe but have been following marinetracker and others weekly to try and find COSLPower. There's been nothing to speak of until today.

A small grouping of stationary vessels is now located close to shore near Aiyetoro (shallow waters off Ondo state?). This area has been routinely empty previously. I don't have a premium account with marinetracker to find out more but they are listed as 'Tugs/Special Craft' rather than fishing or passenger vessels.

Ties in with vatnabrekk's suggestion that COSL may not have it's AIS activated and is in the right location.

[deadly nightshade] 03/11/2017 11:38

the day this suspended the share price was crashing that should have told us that this was not going to come back at a big rerate as we knew dilution was probably on its way. as dr rosso says lets get dilution out the way and for christ sake gets this show in the road at long last.

[qprallan] 03/11/2017 11:24

I may be well of track here but is it possible that they are raising this money to pay off the partners and cancel the deferred payment contracts arranged for when oil flows ?

[aventador] 03/11/2017 11:14

Post of the week goes to carbradshaw.

Come on bobo please put us out of our misery.

Let's hope this final dilution signals the start to something more positive.

[1sonic] 03/11/2017 11:04

You lot need to Chill.... All will be good..... Hold those golden tickets and buy more when this starts to trade....

[xerot] 03/11/2017 10:52

Bradshaw I have argued with you in the past but your right this time.

This is a farce. One that needs to be ended now.

They haven't got the money or expertise to get it so give it up and let us out of this hell they have created for us. If someone could come up with the most heinous mental torture then this company would be in the running for the title of best idea to mentally screw people over. Bored of it now and want an end to it all.

[vatnabrekk] 03/11/2017 10:49

HT: I must say I was a little puzzled by that point about the BP off take agreement, but I had assumed (perhaps unwisely) that they would reach the oil flow status by not having to pay COSL and Tidewater, and presumably Schlumberger, up front. It was also stated (by someone else, not me) that given that situation, they would be able to borrow money from a friendly bank (is there such a thing?) supported by the "partnership" agreements with COSL, Tidewater, and Schlumberger.

But if that was the case, and if it is still the case, then why do they need this new money, which I don't think was suggested previously? Could it be that they need it to start developing some of these additional mysterious asset that they keep talking about?

And have they been working on the pre-drilling preparations at Ororo in the interim?

[htrocka2] 03/11/2017 10:46

Cornish......here's another...the chairmans statement at the end is worrying.

[carrbradshaw] 03/11/2017 10:46

Just get it back to the market so we can sell up and move on from this awful fiasco - every bit of new information is more depressing than the last. Let it be over!!

[cornishtrader1000] 03/11/2017 10:38

They never tell us anything Bron, HT regularly post previous RNSs in good faith (and good memory) but whatever Sirius put out there, there is never a correction (deal fallen through) or any additional info on that given deal. The only info they updated us on was the farcical Levant deal.

[pipelinepete] 03/11/2017 10:37

Good job we ordered the long lead items in advance :-/Zzzzz

[bronislav] 03/11/2017 10:33

Why sirius cant tell the market first is beyond me unless it is to get it out there so that the 1.5 billion dilution is not a shock when rnsd.

[bronislav] 03/11/2017 10:33

Why sirius cant tell the market first is beyond me unless it is to get it out there so that the 1.5 billion dilution is not a shock when rnsd.

[htrocka2] 03/11/2017 10:32

vatna...I'll try and stay positive (I've got no choice)...but looking back on the BP deal.....if the two 'Offtake Agreement' and 'Pre-Payment facility' deals can only be activated and drawn upon AFTER oil is flowing.....they seem to me to be NO deals at all....for once the oil is flowing, the world is SRSP's oyster....and for all we know these so called deals may involve selling oil to BP at $50 a barrel, the CPR price.

[bronislav] 03/11/2017 10:31

We had cosl on board to drill and charge us later hence bobo sayig h1 oil..cosl deal fell through and in steppedBP introduced by their buddies ADD.Bobo must of thought H1 oil was a realistic goal or why go on tv to tell the world.

[the drewster] 03/11/2017 10:19

Post of the week. Incredible ... just incredible!!!

kwizza3 Nov '17 - 08:26 - 71499 of 71528 0 0
$20M at 1p is 1500000000 shares

[vatnabrekk] 03/11/2017 10:06

"These sources said they expect the fundraising to be finalised and announced in the next couple of weeks."

Stay positive!

[vatnabrekk] 03/11/2017 10:02

"The logic says cosl gone."
I don't think so, Bron. I believe that there is a reason why we (indeed anyone) are unable to trace the COSLPOWER on the AIS systems, in fact it seems to have disappeared off the face of the earth. It seems that the powers-that-be don't want us to know exactly where it is, nor what it's true status is. And I guess there must be a reason for that.

[1sonic] 03/11/2017 09:53

Aventador soon you can be face to face with the team at the GM! Going to be a great day. But will they announce something amazing the day before just to keep us all happy.

[aventador] 03/11/2017 09:47

Well we knew it wasn't funded and we still sit here clueless and massively skint, and with no sign of even seeing 2p which for me is still a loss for a near decade of stress and anxiety thanks a bunch Sirius.

[1sonic] 03/11/2017 09:42

Don’t be silly Oakville

[oakville] 03/11/2017 09:37

Though we had news then?