Sirius Petroleum Share Discussion Threads

[sherl0ck] 14/3/2018 09:25

Ad doc p.1, 4, 13, 23, 24, 25 etc.....

P.23/24
“Pursuant to the Unconditional Placing, the Company HAS RAISED £3.9 million (approximately US$5.1 million) (before expenses) through the Unconditional Placing of the Unconditional Placing Shares with investors AT THE PLACING PRICE”.

Pursuant to the Conditional Placing, the Company HAS CONDITIONALLY RAISED £3.3 million (approximately US$4.3 million) (before expenses) though the Conditional Placing of the Conditional Placing Shares with investors AT THE PLACING PRICE...”

The AD is published after the shares are placed and so they know the total monies secured and share count.

[edgein] 14/3/2018 09:22

Welcome aboard Curry, good timing fella.

Regards,
Ed.

[dr rosso] 14/3/2018 09:02

Standard procedure is to announce the results of a proposed placing eg.......

21 November 2017
Premier African Minerals Limited

Successful Fundraising via PrimaryBid to Advance the Zulu Lithium Project
Premier African Minerals Limited (AIM: PREM), AIM-traded multi-commodity mining and resource development company focused on Southern and Western Africa, announced on 20 November 2017 an underwritten offer to raise approximately £0.5 million (before expenses) at 0.4p per new Ordinary Share (the "Offer"). The Offer was made exclusively available through PrimaryBid.com.
The Offer received a very strong response from private as well as institutional investors and was oversubscribed. The Offer was on a "first come, first served" basis and was closed early at 7.02pm on 20 November 2017 once a total of £1,008,125 was surpassed. The Company is delighted to announce that following excess demand, the aggregate subscription amount of the Offer has been increased. The Company has raised gross proceeds of £ 1,008,125 through the Offer.


eg
29 September 2017
Mosman Oil and Gas Limited
Issue of Equity to Fund Expansion

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces the Company has raised £600,000 by way of a placing and subscription of 50,000,000 new ordinary shares of no par value in the capital of the Company ("New Ordinary Shares") at 1.2p per share by share price Angel Corporate Finance LLP (the "Placing").


eg

5 October 2017
W Resources Plc
£1,000,000 Equity Fundraising
W Resources Plc (AIM:WRES), the tungsten, copper and gold, production, exploration and development company with assets in Spain and Portugal, has completed a placement of 240,000,000 ordinary shares of 0.1p per share ("Ordinary Shares") at 0.375p per Ordinary Share to raise £900,000

[eye2] 14/3/2018 08:57

seller done for now

[dr rosso] 14/3/2018 08:54

Companies confirm eg

13 July 2017
NU-Oil and Gas plc
NU-Oil is pleased to announce that it has completed a placing of new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") to raise £1.1 million in total before expenses. The Company placed 100,000,000 new Ordinary Shares (the "Placing Shares") at a price of 1.1p per Placing Share.

No doubting here that NUOG successfully placed 100m at 1.1p



SRSP placing arrangement was no more than a proposal, confirmation notably missing.

[sirianbotham] 14/3/2018 08:49

DrR there was no confirmation either that they didn't raise the full amount listed in the AD - this would be more noteworthy than achieving what they said they would do.

[drrichard] 14/3/2018 08:41

Welcome back Currypasty. Good to see you back in and very good timing I hope! And, I might add, a little more than a punt now-rig timetable awaited , two drill programme paid, all to play for now!

[currypasty] 14/3/2018 08:36

Bought back in here. Previously sold out a while back, I get bored when things drag on.. I didn't go for placing this time round.. fortunately. Hopefully there will be some short term movement.. could be a good punt..could be

[dr rosso] 14/3/2018 08:36

The 3.55bn figure is correct. There was no authority to place more than 723m. Novum and DS were each given UP TO a certain number to shift, using reasonable endeavours to get them away at the proposed 1p placing price. Take off the 140m given to PP, leaves 583m to be shifted at whatever price their clients were prepared to pay. 0.85p looks to have been the agreed going rate.

"£7.237m gross was the amount the company raised".
There is no confirmatory statement anywhere to this effect.

[eye2] 14/3/2018 08:34

As I said all the Hallmarks of seller flushed out late yesterday , up and onwards here,
it was not easy to buy on the open market.

[sherl0ck] 14/3/2018 08:24

The total number of shares potentially allotted to DS&C, Novum & Patronus (1.065bn) is indeed higher than the total that was actually taken in the two placings, but the fact remains, as per the AD, that £7.237m gross was the amount the company raised via the 723.7m shares that were issued at 1p. Thus when you add this figure & the conversion shares to the previous amount you get the current total of 3.555bn (all neatly laid out on p.4 of the AD).

It’s simply not accurate to suggest there were other shares floating around that were secretly offered below 1p and are now being shifted around and that the 3.555bn figure is therefore wrong.

‘Reasonable endeavours’ means the brokers try to find homes for the placing shares. It doesn’t mean sell what you can at 1p and then quietly shift the rest to your extra special mates more cheaply, meanwhile we’ll pretend that the total share count number is lower than it is really is. Complete nonsense!

[edgein] 14/3/2018 08:21

Ileeman,

Very true, I've no regrets buying more yesterday, the thing that folks have been banging on about is finally going to happen. However many $10m's that SRSP spend they'll get back into their coffers from the 88% NRI until these wells achieve payback, then 40%. I wonder how many field developments they'll have when Ororo reaches project payback? A portion of that will go to the BP offtake etc of course, but every penny that SRSP have spent to date getting Ororo to this point they'll get back in again. Then they can follow through with the strategy, end the conspiracy theories and show why they lined up COSL, SLB, ADD and finally BP to help with their strategy. Exciting times ahead.

Regards,
Ed.

[aventador] 14/3/2018 08:20

Bought some more, averaged down again.
As said this won't be under a penny much longer.
April is going to be a good month.

[eye2] 14/3/2018 08:18

This will spike / Rise over next 2 weeks fact.. its AIM and news is on a proven well.

[edgein] 14/3/2018 08:14

Whomever picked those up got them on the cheap as the company has had this pipeline of assets for some time. They reminded us yet again on the 2nd of January with this:

"Sirius Petroleum's Strategy and the Ororo Field

The Company's strategy is to target proven opportunities and maximize hydrocarbon production and recovery through the acquisition of discovered assets in Nigeria, with a particular focus on shallow water offshore areas and realise upside potential through appraisal activities."

So once SRSP can prove itself with Ororo then the consortium moves on to the next appraisal/field development. It'll be interesting to see just how much these guys are producing in 2-3 years time. The best time to buy Afren was before it started to rise that's for sure. They also started with one marginal field development, they weren't supported by a consortium of majors either.

Regards,
Ed.

[ileeman] 14/3/2018 08:06

I think you are looking too much into a few sellers.

There will always be sellers at the best of times.

Follow the fundamentals, huge catalyst soon, buyers will overtake sellers. This will race past 1p and people will regret not buying more.

[htrocka2] 14/3/2018 07:50

O/T..

ADD/Havoc are having a rough ride at Gabon.. negotiations not going too well.




ps...
'Novum et al could have picked these up for circa 0.7p and shifted them on for 0.85p to clients'

No body picked it up....and I wasn't going to mention it, however, Monday, (the day of the rig announcement) at 5:15 pm someone dumped 14m shares at 0.9p.

[dr rosso] 14/3/2018 07:36

Let's be clear. Whilst big trades may be showing up as sells, nobody is offloading large chunks of shares. The deception continues right up to the point of genuine asset revelations. Neither is it clear how much the Co. raised through that equity placing which was supposed to be at 1p. Note the lack of confirmation that the Co. successfully raised £7.23m by placing 723m shares at 1p. It didn't.

[detective captain sean signal] 14/3/2018 07:34

So does this mean that the dilution maybe far greater than advertised in the RNS?Novum et al could have picked these up for circa 0.7p and shifted them on for 0.85p to clients.

[dr rosso] 14/3/2018 07:23

The stated intention was for placing agents to get 723m shares away at 1p, with Novum and Daniel Stewart using reasonable endeavours to do so.

What does this actually mean?

Add up the total number of shares allocated to N, DS, and P. The total is 1,065,000,000. Reasonable endeavours to procure buyers at 1p does not necessarily mean that they found buyers at that price for the full 723m that were made available.

At around 0.85p, the recent very large trades coming through are buys. £125k etc. Using their "reasonable endeavours" this is what Novum and Daniel Stewart sold them for. I'd say its a slam dunk that they found certain hnw clients offering to take them at the knockdown price whilst the market remains largely unaware of what is really going on re. the O&G assets.

[dr rosso] 14/3/2018 07:10

"The Company announced today that it has agreed an Unconditional Placing of 394,000,000 new Unconditional Placing Shares at the Placing Price to raise gross proceeds of approx £3,940,000, and a Conditional Placing of 329,700,000 new Conditional Placing Shares at the Placing Price to raise gross proceeds of approx £3,297,000."


15.1 Novum, as the Company’s broker, is to use its reasonable endeavours to procure subscribers for up to 390,000,000 Ordinary Shares (Novum Placing shares) at the
Placing Price.

15.4 DS&C will use its reasonable endeavours to procure investors to subscribe for
535,000,000 Ordinary Shares in the Company (DS&C Placing Shares) at the Placing Price

15.5 The Company engaged Patronus Partners to procure investors to subscribe for 140,000,000 Ordinary Shares at the Placing Price


"Conditional Placing Shares : the 394,000,000 new Ordinary Shares to be offered to placees pursuant to the Conditional Placing, including the 165,000,000 Novum Placing Shares and the 24,000,000 DS&C Placing Shares to be offered to placees pursuant to the DS&C Engagement Letter"

"Unconditional Placing Shares : the 394,000,000 new Ordinary Shares to be offered to placees pursuant to the Unconditional Placing."


Taken from AD. Something not quite right ........

[riskybisky] 13/3/2018 22:49

I like your thinking sonic

[keysersosse] 13/3/2018 22:43

Answering theblackbaron’s question earlier this evening.

Yes thanks, I’ve got one...clear as daylight so to speak.

[drrichard] 13/3/2018 22:30

I agree, 1sonic.

[1sonic] 13/3/2018 22:09

Dave Sutton’s profile says fields not field....

So we know more is coming....

Just how big has Bobo and team been working on??

Even if it’s just another Ororo field it’s going to double in value but I’m going for ten fold....

Even 20 fold...

They have been so secretive no one knows what’s coming...