Sirius Petroleum Share Discussion Threads

[xerot] 20/7/2020 20:15

Riskybisky, you may resume whittling

[riskybisky] 20/7/2020 19:19

Uk guy Fawkes night these days is sterile, though I'm sure safer.
In my day it was penny for the Guy, every door, cabinet, railway sleeper etc. .... On the fire. Sometimes they got lit early. We'd guard ours overnight in the run up. Boys with rockets in bottles. But a neighbourhood event. Cook stolen sausages and spuds the next day in the embers.
And wtf has this got to do with Sirius you say.
Bangers that's what. Bangers!
Don't see them these days, sparklers and organised displays, that's it for most.
Bangers... On a wet night
Fizzle phut fizzle fizzle fizzle.. soaked, never to dry out, washed away down a drain or rot in the grass.
OR
Fizzle phut fizzle fizzle phut fuk fizzle fizzle ... phut fizzle ...BANG!

pinot grigio flowing early, Taxi!

[htrocka2] 20/7/2020 14:51

For those that can't be bothered to do any research..



Impairment assessment of intangible assets (group)

At 31December 2018,the carrying value of the intangible
asset in relation to oil and gas exploration for the Ororo
Field was $16,301,000 (2017: $10,554,000).

(by the time the results went to press it was in excess of $20m)

[bestdeal1] 20/7/2020 13:54

WHEN DO PI's GET TO SEE ALL THIS FABLED PROGRESS.....................

Sign a deal, re list and lets trade again

[vatnabrekk] 20/7/2020 13:18

If they move forward with the OML 114 deal then they don't need to ask shareholders for any more cash.

[5cer] 20/7/2020 12:30

If they were to announce that they were in negotiations regarding a major asset and needed to issue shares to get cash - how many on here would see that as a final way to get their money back and subscribe for more shares ?

[captminion] 20/7/2020 11:47

5cer if you start with a figure of $65 mil raised (according to Doc Rosso) take out the $16 mil plus 12 years wages, brown envelopes, etc etc how much out of that little lot would be left to buy secret assets ? FA I’m guessing.

[riskybisky] 20/7/2020 11:02

10 + years of significant salaries, offices, events, flights, hotels, CPRs, sea bed surveys, deposits on rigs, HLVs, legal fees, Nomads etc etc.
It's gone!

[5cer] 20/7/2020 10:23

captminion - 'leaves $50 mil unaccounted for' Do you think that most of it or if not all has either been wasted or embezzled ? On the other hand do you think that it's possible that money has been used to purchase assets or to do deals without disclosure ?

[sherl0ck] 20/7/2020 10:22

“Further to suggest a 16 mil loss is a shrewd Business move on their part is ridiculous”

Er, I didn’t. I said Ororo isn’t the future. It’s better to have it on the balance sheet than not, but $16m in the grand scheme of what we’re building is nothing. Did no one find it at all strange that this ‘failing’; company was backed to the tune of $hundreds of millions on a flagship government asset??

[htrocka2] 20/7/2020 09:35

“only eagles fly during a storm”...…(this 'Turkey' never got off the ground...even when oil was $145 a barrel)

[sherl0ck] 19/7/2020 21:14

Board talked about Ororo and our focus on producing assets in the last AGM presentation.

[deadly nightshade] 19/7/2020 21:01

HT are we due the results soon? Wasn't Last years late as they usually are in July?

[captminion] 19/7/2020 20:46

It was not that long ago that the future was very bright revolving solely around Ororo. We’re just being set up by the unofficial company spokesman for some more disappointing news. You can’t simply forget Ororo when it suits. Millions has been raised, invested and spent in that project and without a proper official explanation for its failing no one will invest in any new proposition they conjure up after this clear debacle.

[htrocka2] 19/7/2020 20:18

The future will need to be very bright if they've got to write off $16m
(No disrespect, but I'd rather hear it from the BOD.,,,the latest we've been told is that they're still waiting for a response from the DPR.....(I hope this is not going to be something we pick up in the media?)

(from the latest Results)
5 Intangible exploration and evaluation assets continued

The Licence on the Ororo Field expired on 1 May 2019. As notiUed on 5 April 2019,the Group decided, in advance of the
expiry date,to seek a further extension to the term of the licence from the Department of Petroleum Resources in Nigeria
as has been done previously. The Group awaits the results of this application process. The granting of any extension to
the term of the licence will require the approval of the Minister of Petroleum whose formal appointment has yet to be
made. For clarification, there would be no drilling activity on the field until an extension is granted. The Board remains
conUdent that the Group will be able to obtain a further extension to the term of the licence, which has already been
granted on two previous occasions,therefore management has assumed will be renewed. In the unlikely event
that this was not renewed, the Group would have to fully impair the intangible asset.

[sherl0ck] 19/7/2020 19:35

HT - The future’s bright. The future’s not Ororo.

[vatnabrekk] 19/7/2020 18:18

Looks like it qpr.

[solarno lopez] 19/7/2020 15:26

Just for a change

[htrocka2] 19/7/2020 15:23

Bashmore……..with ref to your post.... srsp shareholder's are like these seafarers who have been stranded and all at sea and have no idea when they'll see land...




Ref Shel10ck's post.....I also hope we don't get a field in the bid round.(as they've had a field for ten years already and did nothing with it)...but you've totally missed the point......I want to know who's got ororo….because these will be who we'll be farming into.