Sirius Petroleum Share Discussion Threads

[1sonic] 18/7/2020 17:33

Agree Sherl0ck

[sherl0ck] 18/7/2020 17:09

Fingers crossed we’re not on the list.

[htrocka2] 18/7/2020 15:43

An update from the DPR website..

'Announcement of (Marginal bid) winners......coming soon'

News this coming week then.

[oliversanvil] 18/7/2020 10:04

Of course it will have to be a civil marriage ceremony for the two of you!!

[bumhammer] 18/7/2020 08:13

I guess that's one description for you

[bumhammer] 17/7/2020 20:16

Shut up 5cer

[shez20] 17/7/2020 15:14

That's not completely true deadly! Bobo just updated his LinkedIn and he has got one of his hottest young talents a 3 song contract every Tuesday at his local Chinese karaoke bar! The mans a maestro in the music world

[5cer] 17/7/2020 14:51

Playing monopoly ?

[shez20] 17/7/2020 14:40

Music videos??

[kwizza] 17/7/2020 14:36

Thing is though as these deals seem to keep falling down, one wonders what they
are actually doing.

[vatnabrekk] 17/7/2020 14:32

SRSP had difficulty raising funding / collateral for the Ejulebe project because it wasn't really a proper farm-in deal, and for that reason I could never get overly excited about it.

[htrocka2] 17/7/2020 14:30

I have a suspicion that in view of the fact that because at least 600 contenders applied for the 57 marginal fields, that the reasons we've heard nothing yet is possibly because the process has gone into auction...with applicants competing against each other...ie, possibly even with 'guzzumping' bids..

[shez20] 17/7/2020 11:46

Makes some sorry reading that htr! Like you say they announce these agreements raise aload of money off the back of it for them never to be heard of again! When the bod have been questioned on these blocks they hide behind confidentiality agreements until everyone has just forgot about them as in the meantime they have announced several other deals with the same clauses! No one is falling for it any more and the gravy train is running dry! Still to date they have not concluded funding on any of these deals! Had our pants right down

[htrocka2] 17/7/2020 10:18

lotusflower...The 'Notice of Marginal Field awards' were supposed to have been issued on the 13th, then postponed to today, the 17th...however, has now been removed from the DPR website and there seems to be a total reporting blank on the field allocations....I wonder if they're having problems?


bestdeal….The only thing this company has ever confirmed is the issue of shares.....and just to rub salt into the wounds begin with statement 'We are happy to confirm....'...and you'll find that it's usually after they've announced some 'big deal' that they're working on....but can't confirm due to the 'sensitive nature' or 'ongoing negotiations'...but will let us know 'in due course'…….but never do....and that's the last we hear of that....until they want some more cash....and come up with another 'big, fantastic, world beating deal'.


example...


...followed shortly afterwards by a block issue of shares....and that's the last we heard of that.

I've come to the conclusion that after ten years here, the bod turn up at the offices each morning and just dream up these schemes.

[undertaker] 17/7/2020 10:16

...bums out

[bumhammer] 17/7/2020 09:55

Hey guys,Hope you have a great day.Suns out

[5cer] 17/7/2020 09:53

Bummer - aka hemorrhoids - an unwanted pain in the ass.

[aventador] 17/7/2020 09:36

Bumrammer is like one of them annoying flys that come into your house in the summer and you cannot get rid of.

[bestdeal1] 17/7/2020 08:24

we have never had confirmation of the Tetrach deal closing as far as I'm aware.

Sirius has conditionally secured an 80
interest in Tetra Petroleum Oilfield
Services (“ via an acquisition of
100 stake in Tetrach Limited
(“

TPOS is a BVI company jointly owned by
the OML 109 license owners Atlas
Petroleum (“ and Summit Oil
Gas Worldwide (“ that captures
substantial majority of the economic
cashflows from the production of
hydrocarbons on OML 109 via a service
contract arrangement

[bestdeal1] 17/7/2020 08:19

we were buying into the service provider that was doing the work for the owners. So is it on??

The current OML 109 Field Owners, Atlas Petroleum
(“ 70 and Summit Oil Gas Worldwide
(“ 30 entered into a Service Contract with TPOS,
an entity which they jointly control to manage their tax
exposure

Based on the terms of the Service Contract, TPOS provides
100 of the funding for all CAPEX and recovers its costs at
a rate of between 105 110 depending on the LIBOR
rate In addition to the cost recovery, TPOS gets a sliding
scale Performance Fee, where the Profit Oil is split
70 30 in favour of TPOS, sliding down to 40 60
according to an “R Factor Formula”

Based on the terms of the acquisition, Sirius is expected
to raise US 45 5 million to finance a minimum work
programme to increase production to 4 7 kbopd

The facility will be structured as a second tranche to the
Project 1 facility as some of the economic terms are
current being discussed for improvements with a view to
finalize the facility

[undertaker] 17/7/2020 08:14

I think he'd prefer to be a 'Human Centipede'

[kwizza] 17/7/2020 08:12

Is this the same field Sirius were looking at ??



Atlas Petroleum resumes development of OML 109 in Nigeria