Sirius Petroleum Share Discussion Threads

[bumhammer] 18/5/2018 15:22

Maybe 'Sirius' wasn't going to drill that H1 Shez

[shez20] 18/5/2018 15:09

Really don't get why you are even debating it?

[shez20] 18/5/2018 15:07

Tell me how we were to drill at any point last year but let's go for in March when bobo comes out and says all on track for h1 still? With everything that has transpired since and how far we were actually off drilling how was it possible? They didn't even have the man power to drill nor the money, clearances etc etc!

[shez20] 18/5/2018 15:03

Which is exactly the point! These guys are not like you and me who need a living wage they are already very wealthy and every year this goes on stand to when all is revealed a very healthy living and then you add on the multi million share opt they all have and it becomes very significant every 1pence we go up from there low ball price and it if goes on longer will no doubt give themselves some more! Just as they have been doing over the years! The bod have lied to the people present at the last three agms every year they have promised drilling and it not to materialise- you want to talk logically but are conveniently forgetting there is no sense or logic behind bobo statement last year! It was impossible what he came out and podcasted! So yes lies these are proven!

[minichris] 18/5/2018 14:44

Its not always about seeing eye to eye Shez, I think you have some very valid points and I am trying hard to get you to elaborate on them not provoke you.

You have now said the BOD have proven to be liars, so, prove it. What did they say and how did they not fulfil the promise.
So far all I have to quantify your judgement on things is your opinion, we all have those.

For example -

You - Our bod are money men and are all making a healthy living out of this as every year

Yet how many directors have or had deferred salaries, options and warrants that are performance based and ones that are set way above the current share price?

At the year end undrawn salaries were due to J Pryde of $429,682 (2016: $327,247),OKuti of $217,896 (2016: $174,319),CNeal $28,123 (2016: $Nil) and
S Hawkins $Nil (2016: $3,799).

Chris appears to be almost working for free by comparison!

[6cer] 18/5/2018 14:09

I think that Meghan Markle is more likely to experience a gusher in the next few days than us forlorn shareholders.

[6cer] 18/5/2018 14:09

I think that Meghan Markle is more likely to experience a gusher in the next few days than us forlorn shareholders.

[shez20] 18/5/2018 13:59

Chris no ones contradicting anything! The board have never given us reasons why we keep missing the deadlines going back over a year now! I am saying if it was a case of simply logistics we would of been aware of that but it obviously isn’t the case
If you think those reasons are realistic in view of the countless delays we have hit over last few years than we are never going to see eye to eye over it because like I say some of things our bod have said have been proven lies!
Our bod are money men and are all making a healthy living out of this as every year passes and also will no doubtlessly make a good amount when whatever it is is revealed but it isn’t hard for them as they keep giving themselves millions upon millions of these things as the years go by! These guys ain’t interested in us!
Like Astra has pointed out several times and others cosl force last year could never have drilled and the bod could not of achieved what it was saying by agm or by podcasts so they are not wild theory’s that hold no substance that these drills where never going to be and do what they said they would!

[doug51] 18/5/2018 13:25

Kwizza..in the Results a reference was made about increased Nigerian involvement once first oil is produced

[bronislav] 18/5/2018 12:57

Kwizza.thats an interesting thought.Once the nnpc is changed and the listed spin off from it is up and running what would happen to their JV,s ,I note they are the JV partner with chevron on oml95.

[kwizza] 18/5/2018 12:51

The Government want The Nigerian people to own part of the new Oil and Gas
discoveries in Nigeria and eventually will allow them to own shares in some way.
Could we be part of that ?

[solarno lopez] 18/5/2018 12:45

But they are allowed to RNS on the morning of an AGM. They CANNOT inform those attending the AGM and then announce after the AGM

[htrocka2] 18/5/2018 12:40

deadly..... Although the AGM Resolutions are a mere rubber stamp, they can't pre-empt the outcome and 'pull the rabbit out of the hat' before the legally binding decision is made.

[deadly nightshade] 18/5/2018 12:34

minichris it would be nice to have some lovely juicy assets revealed then a generous rights issue where by the pi punter gets a good deal and we can chip in and fund what ever needs raising. i would gladly stump up a bit more cash if we have a concrete plan going forward

[deadly nightshade] 18/5/2018 12:30

yes its time to spring a big rabbit from the hat. as sherlock said yesterday if its going to be some big news revealed then you would have thought it should drop in the next week i can't see it dropping the day before the agm. lets hope for a egm on the same day although surely we are looking at a reverse takeover if these assets are as big as we hope???

[htrocka2] 18/5/2018 12:14

The BOD would only issue a large wedge of shares with equivalent news to match.

[minichris] 18/5/2018 12:09

And just to be clear, IF the rig is all part of some elaborate scheme where it was never meant to move, blah blah... I will happily come back here and acknowledge how wrong I was, eat my humble pie and wash it all down with the most expensive champagne I can find. I like the rest of you only care about the outcome.

[dr rosso] 18/5/2018 11:58

BoD cannot in June get away with another batch of "what shall we fob these attendee saps off with this time?"

[shez20] 18/5/2018 11:53

Totally agree doc!

[dr rosso] 18/5/2018 11:50

The fact that the drilling rig never moves time after time after time, be it H1 2017 etc etc etc clearly shows that it is not being held up by an operational, contract overrun, maintenance, repair or whatever, issue.

I would expect however that the 200mb OML95 hub package is now complete. With asset pipeline sorted, we shall receive news in early June that the Wing Wang Woo or similar has loaded up Force, and appraisal drilling of the first field, wherever that may be, will commence within 45 days ie mid-July.

[kwizza] 18/5/2018 11:46

Just out of curiosity was the Cosl Power used anywhere else

[shez20] 18/5/2018 11:41

If it was just about technical problems that caused the delay then we would of been made aware of this! No one can answer the issues with Bobos statement last March as there is only one reasonable conclusion to it! You can carry on making excuses for them with your rose tinted glasses on! You could look at it that they have had a shocker, didn't produce when oil was way over $100, countless failed deadlines, massive share count about to get a whole lot bigger, no drill still in site, no 100m secured until we have drilled ororo! I could go on forever! I have never questioned risk with drill and I agree we are in best position we have ever been but the risk is what our shares will be worth when they finally get round to drilling with the confetti shares they keep issuing

[minichris] 18/5/2018 11:20

As I say, I'm not disagreeing, only the BOD know those reasons why we are still sat rig less. I just wanted to highlight that aside from missed deadlines the whole process isnt a quick one.

On this occasion we could assume that something made us miss our allotted HLV, their rarity meaning that weeks if not months are then added because of this.

If we missed a previous deadline, whats to say it wasnt for a very good reason? Yes, we have been told nothing and that is the fault of the BOD, but one for the conspiracy theorists, were we "allowed" to be told?

I dont subscribe to the theories that the current or past management are/were scammers, maybe a few rules were bent, who knows, but we all knew what we signed up for.

This is a Nigerian oil company that happened to weather one of the lowest oil prices in my memory, failed off-takes, failed funding and come out the other side with funding for 2 wells, £100m and who knows what else.

The huge risk has gone.

[deadly nightshade] 18/5/2018 11:10

if we are to get 50% more dilution maybe them 1.12 share options of the bod were not such a gimme as we thought. if the share price does drop back a lot on more shares and this lot fail to get this into production asap then 1.12 could well seem a long way away. what we need to get clarity on is concrete drilling and production times to start getting revenue in so as to avoid more dilution