Sirius Petroleum Share Discussion Threads

[rpat2] 12/8/2018 10:08

RNS next week

[bleemster] 11/8/2018 20:36

Can't beat a nice load bearing extension

[jangobatley] 11/8/2018 20:26

Expecting the RSJs to come in any day now...

[sherl0ck] 11/8/2018 19:27

Cash in the bank and the LOG convertible loan can be used for whatever the Board deems most important. That may be Ororo but it could also be other things.

[pipelinepete] 11/8/2018 18:34

Outside Technical advisors being in the know of the half year financial results.....interesting.

[bronislav] 11/8/2018 18:33

HT .They probably already have their shares from money raises .

[htrocka2] 11/8/2018 18:19

We have the half year results next month....




OK...they may not be direct employees...but they are managers and INK's...and subject to knowledge of inside information.

[pipelinepete] 11/8/2018 18:15

Why are they in a closed period H?

[htrocka2] 11/8/2018 18:07

Pipeline..

'A Havoc holding rns would show confidence to the market. How are they going to get shares now the warrants have lapsed?'


be a bit of job now that the ITK's are in a closed period.



'When we already have access to funding, how is the securing of other assets entirely dependent upon Ororo flowing beforehand? This might end up being the order of things but I’m not aware it’s a necessity.'


I appreciate the enthusiasm and the green ticks given to the post,,, but for goodness sake.....the money is only allocated for ORORO....not some unrecorded, non confirmed, carrot enticing pipe dreams that we share holders are totally unaware of.

[bronislav] 11/8/2018 17:22

There have been numerous money raises with unknown investors participating on a regular basis.It would not be too difficult for the havoc boys to pick up significant amounts ,placings never offered to the market ie us .It's all been about who's sat around the table.Given the work havoc have undertaken for Sirius and the definitive agreement they signed up to it makes absolutely no sense at all that those warrants lapsed unless they already have a significant holding.Warrents may well be a safety measure so as to always be in a position to maintain percentages.given they have lapsed unless we get an rns to the contrary ,it would imply that there is no need to worry any longer over percentages or in other words job done.
I cannot see any reason for the recent share price drop and I can only assume the next and final dilution is around the corner at 0.75 mark.

[pipelinepete] 11/8/2018 17:13

A Havoc holding rns would show confidence to the market. How are they going to get shares now the warrants have lapsed?

[bronislav] 11/8/2018 17:03

On the subject of havoc partners apart from helium one they don't seem to investing much ..What say each of the havoc partners ,five in total,all collect just below 3 per cent making collectively 15 per cent of the company .That would sound more like it given their involvement with Sirius going back a good while.They are not here for a relatively small amount ie wages relative to their Ophir rewards .I would not be too suprised if they pop out from behind the curtain eventually...Putting the company's in the consortium and BP to one side ,let's look at the FACES involved...firstly stein and Taylor and other partners .Graham Lyon..Simon hawkins.toby Hayward...Just those last few names tell us much .forget the share price for now and the lack of news and apparent incompetence and dwell on those names .tick tock imv

[pipelinepete] 11/8/2018 16:57

I'm sure the consortium would want another asset on the table before commencing Ororo drilling. De risk the project, summer (maybe)

[vipste] 11/8/2018 16:36

Interesting Dr R....but yes why always a top up from you when there’s a drop and now seeming to be really questioning your own sanity for allegedly investing so much here? Is it sarcasm from pure frustration? Did you expect another Imperial or Afren (before the disaster!) from this crew? That’s why I invested....because there was originally a team being formed with a track record and now I’m massively down and can’t trust averaging down in a company that’s claimed “it’s gonna be our year” like a Liverpool fan on the Premier League title. This Bobo character is not investable in the slightest in normal circumstances with no track record and even less so now based on failed claims each year of oil whilst increasing his own salary. Who even does that without delivering any revenue to the company apart from investors cash?!

[bronislav] 11/8/2018 15:42

Qprallan...could,nt speak for drrosso but take into account he topped up with 76k shares less than a week ago so I would be suprised if he thought it was a scam.why would anyone top up here given the level of negativity.If I was topping up it would because I saw value going forward and isuspect that was drrosso,s reason.

[pipelinepete] 11/8/2018 12:01

Ororo is progressing - other assets is progressing (maybe)Many seeds, which will flower first - will August see another asset or will August see further Ororo announcements first. News flow seems to be building on many fronts for an action packed few weeks ahead (maybe)

[astralvision] 11/8/2018 11:57

For hlv spotters only....

I note the cosco vessel Xiang He Kou is due Fujirah, UAE in about 6 days time.
Fujirah is a port used for bunkering/servicing and I believe the company that has an agreement with cosco re services has a base there. So Fujirah is unlikely to be its final destination. Xiang was due Sri Lanka but looks like it’s been sent to UAE instead.

That will make 2 cosco hlv in uae soon. You never know, one could be our hlv in this seemingly never ending saga assuming we’ve rebuilt the rig sometime soon.

Apologies to those who find the above mind numbingly boring, you’re fault for reading so far!

[astralvision] 11/8/2018 11:49

I asked the same question at the agm, both in the q&a and post formal meeting.
The answer is it is not a necessity to have Ororo flowing before further assets but in all probability this will be the way it pans out.
SRSP are going for marginal/distressed assets , they do not intend to pay large or possibly any farm in fees. The attraction SRSP offer is access to funding and a world class consortium. The oweners of these assets will get their reward by share of the oil income produced from these assets. So one can understand the job of ‘selling’; the benefits of SRSP is a much easier one if the model has already been proven via Ororo. In this respect it’s unfortunate that the COSL business has cost 6 months of time.
So, imo and the bod’s view, Ororo flowing is not a necessity for further assets but given we were in ‘active discussions ‘ just under a year ago then Ororo flowing and the first asset proving the model up would be invaluable.
Although the case here is so much more than Ororo, SRSP need to prove this model up step by step, it could well be the first step is the most difficult. I would hope progress can be significantly faster post Ororo. The management team at SRSP have surely learnt some hard lessons and they’ve been made to look incompetent and lacking in basic managerial ability, that needs to change and fast to, imo.

[qprallan] 11/8/2018 11:24

DrR - RU inferring that it could all be a Nigerian scam ?

[sherl0ck] 11/8/2018 11:15

When we already have access to funding, how is the securing of other assets entirely dependent upon Ororo flowing beforehand? This might end up being the order of things but I’m not aware it’s a necessity.

‘will a potential buyer want to settle 485m 1.125p share options’

HT surely you don’t really believe that a sellers number of shares/outstanding options/warrants etc has any bearing whatsoever on a buyer and an agreed takeover price??

[vatnabrekk] 11/8/2018 10:58

@HT: Yes, that's my point, and that's what I said in my post 82610 yesterday. As far as I can see, at the present moment SRSP have no "assets" and won't have until they produce first oil. And beyond that, they don't get access to the BP funding until they establish a flow rate. So it seems to me that no-one would risk paying good money for SRSP at the moment given the uncertainties.

This is why I don't understand the hold-up. As SRSP don't get anything until they produce first oil, I would have thought that they should be in a big hurry to get to that situation.

[htrocka2] 11/8/2018 10:43

Aventador...... The problem with the sale theory is that both Guarantee P and Owena Oil would need to sanction the deal as the Ororo assets are held in Trust until first oil....in short... if they 'aint happy with it.. it's not happening and you can bet your life that if they sanction any sell-off, they'll want some thing out of it. Selling Ororo is way out side the remit of the FTSA and the 'partners' will only get the 'thumb screws' out before a deal is agreed. Then ask yourself, will a potential buyer want to settle 485m 1.125p share options....just because they were agreed at the AGM?. The ONLY way forward is to drill,(don't forget....as in the OILEX scenario this week, they still need Government acknowledgment to ratify their 40% holding in Ororo....which is still in abeyance....so technically, they've nothing to sell...not in OML 95 any way..)