Sirius Petroleum Share Discussion Threads

[aventador] 27/4/2018 19:08

It's clearly a long term play even from now it's still v early days and behind schedule hence no news and share price dead. Next year maybe spring time this will finally be in full swing share price over 3 to 5p hard to tell but best to be realistic here.

[deadly nightshade] 27/4/2018 19:02

aventador hoots post earlier has filled me with a bit of confidence, not expecting any fire works in may but hopefully june/ july we might hear something. 10 people working in that office must be a good sign.

[aventador] 27/4/2018 18:31

Any realistic ideas on timescales here for the multiple assets to be announced and for full or more than just ororo in production? I'm guessing 12 to 18 months at least at this rate.

[carrbradshaw] 27/4/2018 17:05

Great to see you’re still around Hoots - things hopefully going to hot up soon - you don’t rent out offices round there for nothing!!

[aventador] 27/4/2018 16:58

Just have to sit tight wait a few months all will turn out ok.

[drrichard] 27/4/2018 16:22

Nice to see you back Hoots. Good post and thank you.

[minichris] 27/4/2018 16:18

Thanks Hootster.

[hootster] 27/4/2018 16:14

Just had the chance to pop by the new offices in Bury Street. Just missed the project manager but had a chance to have a chat with the facility manager in the building. Sirius are in the middle of an expensive kit out and will be moving a work force of around 10 early next month. Was told Jack is overseeing the move. Does seem that operations are certainly going to run from here and can't see they are going to all this trouble and expense for a company not planning to be around for much longer.

[dr rosso] 27/4/2018 16:09

Add ADD, COSL, LOG to the list

[minichris] 27/4/2018 15:45

The case went to court in 2014 from memory, I tried and failed to obtain the case notes a few years back.

While there is no tangible evidence for either side of the argument, one must take solace from the fact that Sirius are comfortable in referencing a 100% state owned company in their official RNS releases (which just happen to be NOMAD scrutinised).

hxxp://businessondo.com/will-revive-olokola-free-trade-zone-says-akeredolu/

Governors are happy to make press releases stating "their" assets.

BP/Schlum/Reyl will all have completed strict due diligence on Sirius and its associates.

Yet you are still concerned the assets are in doubt?

[htrocka2] 27/4/2018 15:27

minichris....with respect...you've missed the point. There's no dispute as to the 80% ownership of OPL 241....the dispute is WHO owns Owena oil and gas. ...and before you say it's a 100% State owned vehicle in a statement given by SRSP within an rns while Governor Mimimko was in charge of Ondo State, Samnuel Kolaje, V/Chairman of Owena Oil and Gas disputes that claim to this day.

[minichris] 27/4/2018 13:30

"The MD/CEO of Kinsfield Energy, Mr Adekunle Akintola was the pioneer Managing Director of Oilworld Limited from September 2004 till December 2013. Oilworld is the operator of OPL241 Oil Block located in the Continental Shelve of Nigeria.

The MD/CEO of Kinsfield Energy is still a significant Shareholder in Oilworld and has presided over a budget of above USD 100M in exploration activities on OPL241 Oil Block from winning a Bid in 2007, to paying of USD 20M Signature Bonus, posting of USD 25M performance bond, signing of PSC with NNPC, Seismic acquisition and processing of same as a prelude to drilling."

Above $100m you say? Couldn't afford the $20m but found such a large amount down the sofa?

[minichris] 27/4/2018 13:26

@HT

Lets get the facts right about Oilworld and Bresson.

Oilworld back in 2000 and whatever bid $20m for 100% of 241. They didnt have the cash to pay for it, step in government backed Owena who stumped up the cash taking an 80% share for their trouble.

Fast forward a few years and Lek taking a 1% for $1m with the option of 10%. Deal fell through. Why?

If you dig a little deeper you an start to find evidence that 241 was "under litigation" in the latter part of 2016. What for?

Sounds to me Oilworld's ownership was built on a house of cards, if they have any say in 241 I would be amazed! Do you think Ondo State are going to hand over 80% back to Oilworld and forgo a joint venture with Sirius or whoever?

I dont.

[astralvision] 27/4/2018 13:05

you mean Champions League next season? (possibly)

[htrocka2] 27/4/2018 13:01

I thought I'd stick my oar in today with a comment...

Although I've touched on this before, never the less, worth another mention.
In November 2017, Bresson Energy are quoted as saying 'that negotiations are still ongoing for the final 80% of OPL 241 from Owena Oil and Gas.(as stated in the first URL below)...and that 'joint partners for the field will be welcome' (presumably that's us).Things seemed to be going well and may explain why SRSP sanctioned the March statement that drilling would commence in April. However, in the bottom URL Ondo State refrain from making any comments on the sale. Oilworld are the operators of the field so possibly an impasse has been reached between Bresson and Ondo State that reflects the drilling commencement of OPL 241(to which the Governor alludes to)...in which not only SRSP have an interest but the 'Consortium' also. The reference made by the Ondo State Governor links Ororo to Opl 241.....(all my own opinion..as the board is a bit slow)

[astralvision] 27/4/2018 12:49

solution0
Thank you for your kind words.
I agree, it's all taken an inordinately long time, as the bod said themselves at the GM, well they could hardly say anything else, could they?
I also feel, as I have posted before and recently, the communication is not all that it could have been, for whatever reason. As someone recently remarked to me, that's the easy bit to fix.
But is there very real substance here that will give investors what they are after, ie a damn big rise on the share price I believe there is and I assume that's why we are all here.

[solution0] 27/4/2018 12:42

Astral,I always enjoy reading your posts but, let's just get a few things in perspective,I've been here now over 7 years, AGM 2013, ( bobo to me )I feel we are on the start line, should be eventful & fruitful, AGM 2017, to the whole room of people
We will be drilling in April,promises of a rig, not yet happened, I actually admire
What our bod have put together but the bottom line is the head of cavalry
Has told a few little porkys

[bumhammer] 27/4/2018 11:50

Let it dry and it turns into a face mask for your scrotum

[6cer] 27/4/2018 11:30

It's very refreshing when you massage it into your nuts.

[bumhammer] 27/4/2018 11:18

Jenny, I always take it with a spot of milk

[jenny tulwought] 27/4/2018 11:12

bumhammer,

careful with that Toilet Duck - the 'Lemon Fresh' is particularly 'moreish'.