Sirius Petroleum Share Discussion Threads

[1sonic] 21/1/2018 16:28

Why have an AGM and GM on the same day???

Delaying tactics!

There was never going to be an H1 last year! They knew it and Bick knew it.

Wouldn’t surprise me if there’s no Q1 this year let alone H1 this year.

[openfield68] 21/1/2018 15:58

As King Edward said to a beautiful Jersey Royal....how about a spud date?

[6cer] 21/1/2018 15:00

If what we pi's keep baying about eg drill rig deployment date etc is sensitive information then what's to stop the bod from issuing an rns stating that reason ?

[bronislav] 21/1/2018 14:10

Bottom line is we are informed that Q1 for oil, i hope me meet this latest deadline for loyal patient shareholders.There is no reason we cannot .

[busahale1] 21/1/2018 14:08

On the RNS debate, can some more experienced o and g investors enlighten us as to what other similar, if there are!, Companies do. Is it usual eg to RNS rig transport dates?

[bronislav] 21/1/2018 14:06

How about the result of the real options valuation on two assets or gaffneys results from the deeper cpr on ororo1 for starters sherlock or why we do a subsea survey when we had no chance of drilling. going to drill or obtaining a well permit when we had no likelyhood of drilling.Too many unanswered questions.All my view and opinion and there may well be reasons but as shareholders we are left to guess and speculate.

[astralvision] 21/1/2018 14:04

Detective CIt is my view that the company does wish to promote itself, witness the presentation made before Xmas and that presentation is now on the SRSP web site. SRSP have only been an O&G company for all of a month, yet we have had several RNS detailing work done towards exploiting Ororo. Not enough for some, but I for one am happy with that. I believe we will have a year of strong news flow and , at long last, SRSP will have a good story to tell and promote.Wrt monies paid, owed or whatever , it is not,imo, a question of saving on the RNS cost. It is a question, as my post suggested, that they are simply not allowed to do this for a whole host of very sensible reasons, not least of which it sets a precedent in such financial matters.Operational matters is a different kettle of fish.

[cornishtrader1000] 21/1/2018 13:58

In money saving terms they could have also merged to EGM and AGMs together. Good to have some positive and interesting debate here.

[bronislav] 21/1/2018 13:57

After pateintly sitting through two suspensions and trusting the board for over seven years most longtermers feel they deserve something concrete from the company ,something specific saying we have a drill date that we are endeavouring to work towards .Q1 is still shrouded in uncertainty on the back of historic drill dates not met.

[sherl0ck] 21/1/2018 13:22

Inform the market of what exactly to raise the share price?

[qprallan] 21/1/2018 12:55

Agreed Bron they did mess up on the warrants RNS, however, that was probably considered a necessary amendment. My point was that it has already been said that we will pay the 3 mill and to save the cost of an RNS, they probably think its unnecessary to confirm.

[bronislav] 21/1/2018 12:33

Qprallan.sirius issued two rns a few years ago on the subject of warrents running out ..The first was so badly composed they issued one the day after to make up for it...If sirius were concerned to the degree you suggest about finances they would inform the market and get the share price up before raising cash .It feels like its been the other way around ie doling out shares for as little value as possible,in other words its been more about how many shares can you get for your buck rather how much buck for your shares..

[vatnabrekk] 21/1/2018 12:21

I'm quite sure that the consortium partners are better informed than we are!

[vatnabrekk] 21/1/2018 11:12

Not many days remaining to get a HLV to Labuan, loaded up, and mobilised before the end of January.

[aventador] 21/1/2018 10:44

The whole project nearly went under so to be where we are today although not ideal is better than being at 0.25p without bp and alike on board.
And now we have the cpr admission doc funding and are an o and g production company all we need to wait for is the rig rns and then we should be all systems go.
No reason to doubt them as of yet albeit hard with there track record this year has to be it or there will be hell to pay.

[qprallan] 21/1/2018 10:06

I agree with astralvision in that RNS's cost money and if mentions of money due have already been promulgated then I would only expect an RNS to say that it hadn't been paid

[dr rosso] 21/1/2018 10:00

Wasn't that asked at agm, to be met with a "sorry we can't answer that one. Next Q please"?
It's not that they or their mates and insider itk associates don't know, it's the withholding of info from the ordinary pi that's the issue here. When the promise to pis finally gets delivered, it's not met. First oil by Sept 2012, I recall.
Yeah right.


Extract from an RNS six years ago ....

"Under the terms of the Agreement, Sirius committed to fund the preparation of a Competent Person's Report ("CPR") and it is expected that Gaffney, Cline & Associates will deliver the completed CPR on the Ororo field to the Company in February. The Company has also now completed the Environmental Impact Assessment ("EIA") on the Ororo field which will shortly be submitted to the Ministry of Environment in Nigeria for review. In addition, the management team has commissioned a preliminary Field Development Plan, subject to the results of the CPR and the Company is assessing suitable candidates to provide the appropriate oil services for the drilling operations on the field, including the procurement of a drilling rig slot for the second half of 2012."

Oct 2011
"Subject to satisfactory completion of the preliminary works programme, including Environmental Impact Assessment and Drilling Site Surveys, and subject to rig availability, Sirius anticipates that production from the Ororo field could start as early as Q3 2012"

[6cer] 21/1/2018 09:41

what is the reason that they are still evasive and secretive ?

[dr rosso] 21/1/2018 09:29

Engaging with Co., aka constantly being fobbed off with smug evasive answers or met with vague suggestions of hope, intention, expectation.

And your pipeline of assets are .... what?
And the installation work you've done is ..... what?
And the key payments you've made to partners are .... what?
And the details of the rig contract are .... what?

Not my idea of engagement, sorry. Lack of transparency does nothing to aid credibility.

[detective captain sean signal] 21/1/2018 01:21

Thanks AV. It seems to me that the company is only releasing via RNS what it is legally bound to, rather than be more forthcoming with the loyal investor that has kept it afloat for the last 8 years.Rather than look for loopholes to withhold information, my question is; why doesn't the company want to promote itself?

[astralvision] 21/1/2018 00:47

I'm not absolutely sure on this point, but I put it forward for consideration.It is my opinion that you won't get any RNS wrt payments to COSL, Schlumberger, ADD Energy and any others.Regulatory demands and pi demands do no always co-incide. I'm all for anything that gives pi's extra or additional information.Please don't feel I'm offering up an excuse here or sort of suggesting that SRSP are hiding behind their NOMAD or other advisers.But I have come across a very similar situation before. There, the advice was the information had already been officially released and there was no need to release it again, even though it might help to confirm what was already released. In fact the advice was they couldn't do it.Hope that don't sound too confusing, but in practical terms it means that if SRSP have already released, via the AD, the amounts due to COSL and others , there is no need to put out a further release saying this has been done, indeed SRSP may not be allowed to put out such a release.I know, I know, it sounds stupid and, of course, we would like re assurance every step of the way. But what I'm doing is passing on information of what happens in these instances. I can understand it, but I can also understand the desire to release such news.So, in closing, I personally don't expect to see a single RNS detailing monies paid along the lines that are already in the AD.The rig mobilising is a different kettle of fish, but to be quite honest the ins and outs of exactly why that is a different kettle of fish will have to wait for another day. Already past my bed time! Excellent debate tonight, thanks to everyone for their inputAV

[drrichard] 20/1/2018 23:39

Deadly, by my quick count we have had some 20 something RNS in the last 6 months plus three opportunities to meet the BoD. So plenty of keeping in touch with investors. We are almost at the “all systems are go” point so have a little patience my friend. No point fretting about failure to deliver until our BoD fail to deliver. We all know the consequences of this, as I am sure BoD do.

[deadly nightshade] 20/1/2018 22:34

the reason i am asking questions is becausebi am starting to get a gut feeling that this is slipping back into old ways. before you know it january is gone with no news then march deadline missed then its middle of year then xmas all over again. if the bod read this bb i want you to know that the pressure is being cranked up on you to produce some news. there is nothing stopping a brief update rns just to let long suffering pi's know everything is still on track. folk wouldn't mind waiting if the company were more informative. you watch that dragons den you might have the best idea in the world on there but if you dont present the facts and figures in a easy to understand way then the big guys will not invest. still to many questions then answers here and thats got to change