Sirius Petroleum Share Discussion Threads

[xerot] 16/11/2017 21:51

all they do is suck mugs in with lies and false dawns, jack and the beanstalk stuff

[1sonic] 16/11/2017 21:39

Deadly you get up for 7am I’m not...

[deadly nightshade] 16/11/2017 21:32

since the seabed survey rns and rig selection rns have BP come on the scene at the last minute and thrown all the plans up in the air?? just had a feeling in my water that we might get a RNS tomorrow hope i am right......

[fishandchips2] 16/11/2017 21:09

Anyone know any dwarfs?

PM if you do!

Get a move on Bobo ffs.

[cornishtrader1000] 16/11/2017 21:06

I just mean that last years AGM was delayed, seeing as Sirius appear to be above AIM rules, it wouldn't surprise me if we get the scheduled AGM in 2018.

[1sonic] 16/11/2017 20:57

The board did last AGM! Boom... will they or won’t they?

[cornishtrader1000] 16/11/2017 20:55

Who says there's one this year!

[1sonic] 16/11/2017 20:45

Who’s going to the AGM this year?

[dr rosso] 16/11/2017 20:34

Correction to Number of Shares in Issue

17 Mar 2017

Sirius Petroleum (AIM: SRSP), the investing company focused on oil and gas exploration and development opportunities in Nigeria, announces that the number of shares in issue announced on 22 February 2017 should have been 2,542,029,522 ordinary shares of 0.25 pence each in issue. No ordinary shares are held in treasury.


Ffs, they can't even do simple addition. Zero cred.

[dr rosso] 16/11/2017 20:32

27 Mar 2017

Sirius Petroleum (AIM: SRSP), the investing company focused on oil and gas exploration and development opportunities in Nigeria, is pleased to announce that it has executed a contract with Polaris Consulting Company (“Polaris̶1;) which has been engaged to undertake a Seabed Survey around the Ororo field licence area. The marine vessel conducting the survey will mobilise to site in early April and it is anticipated that the survey will take approximately two weeks to complete.



What was the point in concluding this task in mid-April when 7 months later there appears to be no rig anywhere in sight?

On the face of it, they come across as a bunch of incompetent chumps.

[shez20] 16/11/2017 18:57

Let's see what this ad reveals! If we are still left in the dark and these shares are to be dished out at mates rates while only a simple plan on ororo is revealed then serious questions need to be asked but we might all be pleasantly surprised yet, no point in stressing about the unknowns at the moment

[jamie40] 16/11/2017 18:26

All seems very straw grabbing at the moment, I was hoping for something more tangible!

[dr rosso] 16/11/2017 16:39

Taglient Oil. Another mystery Co. associated with Sirius.


Seem to recall that Sirius Petroleum held an option to take 50% for just $15. Appears above as $15 per share. Quite possible that TO has only 2 shares in issue, in which case who owns the other share? Ondo State perhaps.

"At 31 December 2014 the Company owned 50% of the shares in Sirius Taglient Petro Limited, a company incorporated in Nigeria, to operate in the oil and gas sector. The Company has the right to acquire the remaining 50% shares for a nominal sum and has management and operating control of that company."

"At 31 December 2011 the Company owned 50% of the shares in Sirius Taglient Petro Limited, a company incorporated in Nigeria, to operate in the oil and gas sector. The Company has the right to acquire the remaining 50% shares for $15 and has management and operating
control of that company."


So, what can they take the STPL shares at?
a) $15 per share
b) A nominal sum
c) $15

[bronislav] 16/11/2017 15:48

Drrichard..nobody was looking when they might have appraised it..They had a drill permit and Eia in place.Owenas website says there are development and production platforms.Sirius even gave the clue in the rns mentioning ororo2A

[drrichard] 16/11/2017 15:37

Good point ht, but would we not see evidence in and around Ororo of this being done? You cannot hide a rig and support vessels surely?

[htrocka2] 16/11/2017 15:26

Not too happy with this...but it has some logic attached to it.


'Have they used a smaller local rig and secretly drilled O2 already?'


Within the past half dozen 'Annual Results'. we have the following highlighted and emphasised article.

'...the Company owns 50% of the shares in 'Sirius Taglient Petro Limited' a company incorporated in Nigeria, to operate in the Oil and Gas sector. The company has the right to acquire the remaining 50% shares for $15 per share and has (this is the important piece) management operating control of that company'


The point being that if Sirius Taglient is controlled and dictated to by Sirius Petroleum, and are classified as an E@P (Exploration and Production)company and employ oil well reservoir engineers (ref LinkedIn) then this steps beyond the remit of a subsidiary classification. My personal opinion is that DR may have a point in that Sirius Taglient, into whom we've pumped millions over the years, may have argued to take on the drilling themselves....hence the legal circumvention of releasing news of a subsidiary......my opinion only of course.(but it's the only thing I can think of that fits)

[dr rosso] 16/11/2017 14:48

Co. can get away with the secrecy partly through confidentiality re commercial sensitivity and partly because it holds options on the assets without being classified as a leaseholder. Unfortunately the front man, when wheeled out to crow about H1 oil and significant progress, is made to look a complete chump as long as that progress continues to be withheld from the public.

[deadly nightshade] 16/11/2017 14:38

interesting on the suspension rns it never mentioned rto but on savannah one it did

[deadly nightshade] 16/11/2017 14:38

interesting on the suspension rns it never mentioned rto but on savannah one it did

[dr rosso] 16/11/2017 14:25

Swinging again towards rto or complete t/o by this mysterious African-centric 3rd party. Plenty to choose from, and they'd snap the hand off Sirius to get the assets.


13 July 2017 Statement Regarding Media Speculation
Further to the "Statement Regarding Suspension" announcement on 8 June 2017, Savannah notes recent media speculation regarding the identity of the West African focused business (the "Target") with which it has entered into a binding exclusivity agreement in relation to the potential acquisition of substantially all of their oil and gas assets in the region (the "Proposed Transaction"). Savannah confirms that the Target is Seven Energy International Limited, a Nigerian focused oil and gas company. Savannah will provide further updates in due course and continues to seek to complete the Proposed Transaction on an accelerated timescale.


One wonders if there is a rto target here which has already been busy in the field, ahead of Agent Sirius handing over the option to acquire a range of assets. No compulsion for a privateer to disclose.

[dr rosso] 16/11/2017 14:23

The seabed survey was completed ahead of anticipated swiftly enacted drilling, otherwise why bother, it will become invalid. An as-yet unnamed 3rd party African-centric partner could easily have drilled O2 using a local rig or one of their own. The super-sophisticated jack-up in the early stages is a highly expensive sledgehammer to crack a nut, but the parent Co. CNOOC could choose to reserve it for when the offshore campaign develops in earnest. There are plenty of privateers and subsidiaries operating in these waters. Is one of them our Partner 4? Although we haven't yet seen it published, the JOA was actually signed several weeks ago. So yes, first oil could have been brought up in H1 by an associate, prompting BP Oil to come in on the offtake.

[aventador] 16/11/2017 13:56

Precisely if they knew the ad doc takes 6 months why say oil h1 in complete nonsense.

Guessing all this info we want will be in the ad though years of secrecy finally in the open we hope.

[bronislav] 16/11/2017 13:38

Witchywoo . ,I think the cosl power being named takes the focus away from the well being drilled.subsea survey ,what was the point.Signing of Joa would suggest that one of the two african parties in the joa could drill the well.