Sirius Petroleum Share Discussion Threads

[htrocka2] 13/8/2020 15:12

bron….I believe we've been 'mis-sold' a product.....which is not the same as an 'investment' with caveats that contain high values of risk...Mis-selling is a legal minefield in it's own right.....especially as no explanation was put forward as to why the 'product' never materialised.....If I bought and paid for something that was offered on line....and it didn't turn up....I've been conned.(I wonder if I would have got my money back had I bought the srsp shares through 'pay-pal'?)


mis-sell.
.

[mis-sell]


VERB
.
mis-sold (past tense) · mis-sold (past participle)



sell (something) to a customer on the basis of misleading advice.

"it continues to unlawfully mis-sell the fares with hidden handling fees" ·
[More]

[bronislav] 13/8/2020 14:30

Htrocka.do you think they have been scammed?

[htrocka2] 13/8/2020 12:11

Dr...I personally know of a couple of people who bought into srsp as a consequence of those videos...they now feel that they've been scammed.

[qprallan] 13/8/2020 12:07

I would rather fast-forward to see if we still exist

[dr rosso] 13/8/2020 11:07

Rewind to 5 years ago

[htrocka2] 13/8/2020 10:31

In my view (I must stress)...…..the deals announced in the Dec 2018 Report will have to be radically revamped for the following reasons...in the five year oil price chart below, we see that at the beginning of 2017 the price of oil was about $45 a barrel...this gradually rose to $85 in 2018 when srsp made (and announced) their deals and the 'glory days' of $145 a barrel were back in sight,...however, no sooner had the deals been 'provisionally' agreed', the oil route began and the oil price dropped through the floor....hence all bets were off. Any deals now would have to take into account the current price of oil against production costs.....hence, my bet is that as the ororo cpr gave extraction costs of $27 a barrel (and looking at this from a funders perspective)....I doubt deals will be signed off until oil reaches $54 a barrel so as to safe guard the funders investment and clients money..(my opinion only)

(The $20m 'Ororo debt funding' was agreed when oil was above $60 a barrel)


Annual Report and
Financial Statements
for the year ended
31 December 2018

(engage 5Y chart)

[aventador] 13/8/2020 09:23

Great post best deal questions we never get the answer to hence we remain in deadlock and potless.Will this cruise ship arrive that's been stated year on year since day dot or a rubber dinghy with a puncture yet again!

[deadly nightshade] 13/8/2020 09:15

News lockdown hopefully = something big

[bestdeal1] 13/8/2020 08:13

Bobo what deals are still on the table
Bobo what is the pipeline of assets
Bobo when are they going to close a deal
Bobo when are we going to get a new market listing
Bobo are you and the board still taking a salary?
Bobo, if yes to above, what value are you and the rest adding to the company and shareholders
Bobo when are you going to tell us the status of Ororo, the companies only tangible asset
Bobo please explain to your shareholder what really happened with the COSL rigs
Bobo please explain to your shareholders why Sirius did not take Adriatic 1 when it because available, despite the fact that you had originally expected in 3 months prior.
Bobo WTF is going on at sirius????????????

[bestdeal1] 13/8/2020 08:04

probably get more answers than asking Bobo

[oliversanvil] 12/8/2020 17:01

ASK Sofia.epe.

[oliversanvil] 12/8/2020 16:13

If you want to know what's what ABOUT SRSP-- ASK SOPHIA--.NOT YOUR DUTCH WIFE DOLL!!!

[htrocka2] 12/8/2020 14:12

Just to get back to the 'cruise ship' theme...I hope we get plenty of 'partnerships'....and not 'hardships'.

[vatnabrekk] 12/8/2020 12:52

Yes HT, of course all projects require funding. I was just pointing out that the extract referred specifically to OML 114.

Funding will be much easier to obtain for a project that will be revenue earning from day 1, such as an up-front farm-in, which incidentally Ororo was not, and neither was 109.

[htrocka2] 12/8/2020 12:41

Vat.all the projects require heavy funding.

[vatnabrekk] 12/8/2020 12:03

HT, I'm sure you are aware that the extract you quote above is referring to OML 114.

[bronislav] 12/8/2020 11:30

Htrocka.I think there has been a quality team involved in the funding.Mr Chris Neal,Mr Graham Lyons,Mr Simon Hawkins.etc.

[dr rosso] 12/8/2020 11:27

It`s inconceivable that Sirius alone is in the running for NNPC`s 119. They must be tied in with a production outfit of considerable renown. Procure the $85m funding to kick-off 114 and 109, generate significant revenue, expand ops. No way can Sirius, with no COO, only a BoD of financiers, take it through to o&g production. Setting things up, yes, for disposal.

[htrocka2] 12/8/2020 11:24

Bron…. When the Results come out in 7 weeks time the truth will emerge... hiding behind caveats will no longer be an option. All their projects require 'heavy' funding and need to be in place......as promised.

August 2019 rns extract (12 months ago)
'At the date of these Financial statements, the Group has secured $10m of funding, exclusive of fees, towards the farm-in fee and is in advanced discussions with a number of financial institutions to provide the funding required to satisfy its
obligations under the FOA. The JOA is now in Final form and ready for execution..'

Either they'll have the funding in place....or they'll 'waffle'. I'm obviously hoping for the former but history tends to lean towards the latter.

[bronislav] 12/8/2020 11:15

Only snag with the scenario drrosso is it would take a huge amount of funding to develop all those assets,likely to be to the tune of billions.If only that sort of money was available.