Sirius Petroleum Share Discussion Threads

[1alfi] 26/8/2020 08:12

“All fired up and ready to go. Barak Fund Management is pleased to announce that it is in the process of finalising legal agreements with Sirius Petroleum PLC on a USD 10 Million, 1 year facility, to be made available to a subsidiary in order to support its acquisition of a shallow offshore asset and export of crude oil.

The facility highlights Barak’s continued support for first class indigenous oil producers on the African continent with a view to furthering impact investing in domestic and regional gas to power markets.” - Jean Craven

I find it interesting that, when loaning Sirius $10 million, Jean Craven reports it on his Linkedin site with enthusiasm.

However, when, as some suggest on here, he apparently loaned Sirius the greater amount of $15 million working capital, nothing is mentioned on the same site.

Furthermore, what would Sirius want $15 million working capital for when not doing any work and having no other asset than Ororo to work on.

It has been suggested that Sirius were to use the $15 million for purposes of work related to Ororo, but I find it difficult to believe that a smart guy like Jean Craven would lend $15 million on an asset which only had 9 months left on its licence before expiry, with a big question mark against licence renewal.

Recently someone(can't be bothered looking back who)on this bulletin board suggested that this working capital loan came from another source and was to be partly used to pay Barak off.

I tend to lean this way in considering that we have found a new funder, possibly AFC, who wanted to keep all the financial eggs in one basket.

[xerot] 26/8/2020 06:33

Most boring 😴 firm in the world as nothing ever happens.

[dr rosso] 25/8/2020 22:29

Wise up, the satellites, 8 of them ranging from 15mmb to 70mmb, were all pre-drilled oil producing marginals courtesy of Chevron, which was flaring off up to 100% of the gas. Whoever this was set up for, they certainly did not want GP to be part of it. No chance of O2 itself getting drilled with GP still on the scene. Dont write off 241 either, 80% owned by Owena, which is adjacent to, ie right next door to, 95. Something very big has been building up behind the scenes. Waiting on Deal 1 tba, which should lead to the much larger reserves-based lending which has proved elusive to date in securing further and more substantial assets.

[bumhammer] 25/8/2020 21:52

QRPLook it's fine if you feel the urge to unfilter me. BB crybaby Adventador does it ALL the time..5vgr, please stop posting nonsense on here and go back to having a bag of nuts hanging on your chin x

[vatnabrekk] 25/8/2020 20:59

Perhaps they were doing the planning for Ororo, not the actual work. We know the wells were never drilled.

[qprallan] 25/8/2020 20:53

DrR Are you saying that you have had mutterings from Martin Clark who no longer is involved with Sirius ?

[dr rosso] 25/8/2020 20:36

Martin Clark
LOGISTICS SUPERINTENDENT
Company NameSirius Petroleum plc
Dates EmployedJun 2018 – Oct 2018
Employment Duration5 mos
LocationLagos
Part of project team responsible for delivering 2 wells in block OML95 offshore Nigeria
Total responsibility and accountability for all logistical related services.
Planned, designed and deployed processes and procedures for all logistics and materials functions from mobilisation of materials & personnel through to final demobilisation and material reconciliation. Contractual & operational management of warehouse and shorebase facility, aviation contractor & marine services providers.
Furthermore daily logistical management of marine fleet and helicopter scheduling. as well as ensuring compliance with all governmental regulations and customs permits.

[riskybisky] 25/8/2020 20:27

Hope docs right.
But I'd need hours to collate all his past mutterings/predictions/ and those RMS predictions from 5 years or so ago.
As I remember one once actually landed albeit it a white noise RNs.
Docs called a few things right in the past though when I read "mutterings" I know it's tenuous oh so very tenuous.

So soon after slating antenna too. Gees.

[bronislav] 25/8/2020 19:45

About time we heard something.Nowt wrong with the DOCS mutterings.Bring it on.
Hurricane laura storm francis might not be the only disruption this week.

[qprallan] 25/8/2020 19:24

DrR Please clarify. What mutterings have you heard ?

You do seem to have a habit of coming up with these theories, but they mean FA unless you can back them up with actual facts.

[htrocka2] 25/8/2020 19:09

Dr...'mutterings'.....I've got to hand it to you......that's original.

[5cer] 25/8/2020 19:07

Dr Rosso is that wishful thinking ? If not what is your source ?

[dr rosso] 25/8/2020 18:58

The mutterings have it that there is indeed an rto oil deal shortly tba

[oliversanvil] 25/8/2020 16:39

Brown matter!

[qprallan] 25/8/2020 16:04

bumhammer, I took you out of my filter bin just to see if you had improved with time. Obviously not, but you have turned Pyschic, answering questions before they have been posted.

My question is "What do you keep in that space between your ears?"


Sorry still filtered.

[solarno lopez] 25/8/2020 14:03

Looks like Shaman is already at work

[dr rosso] 25/8/2020 12:39

Older cruise ships converted into FSO tankers.

[dr rosso] 25/8/2020 12:07

The plot thickens. Sirius has an option to develop the gas within 114. Could Sirius continue as an osp, partnered with Equinor? Maybe take over Hemla as it did with Tetrarch on 109. 119 is in play only with a big producer alongside.