Sirius Petroleum Share Discussion Threads

[dr rosso] 28/8/2020 18:31

Alpha cowboy outfit couldn`t lose. 90m shares converted at average 0.45p and sold straight back into the market at 0.9p. No-brainer, candy off a baby. Pocket near on half a million quid for 1 month`s "work" at no risk. Basically it was a sly freebie handout for someone hiding out at the Norwegian end. Lend £400k in Jan and get £800k back in Feb. A real wonga job, this deal was so awful for Sirius and its shareholders that there has to be a better explanation than simple desperation for cash.


Other investors not too impressed.

[htrocka2] 28/8/2020 14:46

just one more go at this....



'Nobody issues a loan without some kind of security behind it. Alpha dished out £1.75m and within a month made £400k for themselves by converting and selling 90m shares. Norwegian bung?'


So what you're saying is that the shareholders were the security for the loan?, however, as pointed out above... at the JP Jenkins share price ...there was no point in selling.


So we can assume that 'wonga' were offered and acceptedd some form of collateral after all.

[qprallan] 28/8/2020 14:12

"if it were true I think shares would be trading on JPJ"

Very true. Thats where I would go to buy if I was positive. Instead my shares are still there and available and no interest at all.

[bestdeal1] 28/8/2020 14:07

if it were true I think shares would be trading on JPJ

[dr rosso] 28/8/2020 14:01

Sherl0ck back on form telling everybody what ISN`T going to happen.
How about coming up with something useful for once?

[dr rosso] 28/8/2020 13:55

"There has been a very slight delay, but it's on it's way."


yagorralaf


All on for Q4, then?




Actually, more than one person is indicating first week in Sept.
We shall see .........

[captminion] 28/8/2020 13:45

Helloooooooooooooooooo finally the pennies dropped !

[htrocka2] 28/8/2020 13:30

DR...


'Nobody issues a loan without some kind of security behind it. Alpha dished out £1.75m and within a month made £400k for themselves by converting and selling 90m shares. Norwegian bung?'


Do you know for certain that they sold within the month?.....for the company to issue shares below par, with no 'lock-in' period, knowing that they are to be 'off-loaded' at the higher price is...not only robbing the existing shareholder via dilution...but sounds dishonest.....if this is so...maybe we have things to worry about.

[htrocka2] 28/8/2020 13:17

Shez20..'How they show their faces at AGMs is beyond me'....they'll be all right this year, like bandits,. they have to wear masks.

[vatnabrekk] 28/8/2020 12:34

I agree qpr, it seems fairly safe to assume that the moratorium is reference to the $10M loan for the "Additional Producing Asset" i.e. OML 114. I don't see how anything that JC said (in the quote above) could be construed as referring to the $15M working capital facility.

Incidentally regarding the $10M loan from Barak, this is not a risk as far as Barak is concerned because they will have the security of the SRSPs share of OML 114 as well as the earnings from the project if the deal goes ahead, and if it doesn't go ahead then the funds can be returned to Barak out of escrow.

[qprallan] 28/8/2020 11:37

DrR - ""xxx, we are not advancing any more funding to Sirius at this stage. We had to give them a 6 month moratorium on repayment given the market. They should be able to weather the storm. They have some work to do. If you want more intel you could speak to the dealer running with the client on our side - Yaw Keteku [phone]". Regards Jean"

The above post from 11th July doesn't mention the 15m. How do you know for sure that it came from Barak ?

[antenna2] 28/8/2020 11:34

To Rosso...my little stalker!!!
There has been a very slight delay, but it's on it's way.
I await the usual silliness, it's good to see that Sherlock is back on form.

[dr rosso] 28/8/2020 11:18

Antenna2 has got nothing whatsoever right in 10 years of bb posting. BS over and over again about deals supposedly done. You really think that the in next few remaining hours of August trading the mythical cruise ship is going to appear?

[carrbradshaw] 28/8/2020 11:14

I suppose we’ve still got till close of play today to hear something- is that right Antenna - or have things been delayed again.

[dr rosso] 28/8/2020 11:00

Nobody issues a loan without some kind of security behind it. Alpha dished out £1.75m and within a month made £400k for themselves by converting and selling 90m shares. Norwegian bung?

For Barak to make available a staggering sum of $25m, they`d have to be mighty confident in the existence of suitable collateral and it would need to be substantial too. They are not lending on the back of Ororo, with expired licence, that is for sure

[htrocka2] 28/8/2020 10:53

(I imagine Sherl0ck is guaranteed at least one tick up)

I might as well call this O/T

The outcome of the Owena/Dpr revocation is an important issue and yet to be resolved...however, to take a closer look at the problem...it's a case of a 'Local Authority, who have already pumped a great amount of public funds into the project, objecting to a decision made by the Central Government via one of its entities, the DPR....of which the outcome is due by the end of September (coincidentally).


from the latest Results.

'The Group hopes that its existing relationship with Owena,the energy arm of the Ondo State Government, will enhance its access to proven oil discoveries located within Ondo State.'

The point being...
vat asked 'what security do we have for the loans'?

Reply.......Are we getting any support, ie in the form of guarantees, from Owena Oil and Gas , the Ondo State Vehicle.

[bronislav] 28/8/2020 10:41

Sherlock I don't think many have any trust in this thread any more and in the company's investor relations.I will wait patiently for whatever has been hidden to be revealed but don't see any point in engaging in this bulletin board anymore.

[5cer] 28/8/2020 10:37

Bleemster - the free glass of wine is your share dividend!