Sirius Petroleum Share Discussion Threads

[deadly nightshade] 29/8/2020 17:08

Pretty hopefull something big is going on here, the recent people linked here JC and AFC wouldn't waste their time here if this lot were not on to something. Also they surely wouldn't release funds on any old project with out proper DD. Ororo would have surely been to high risk as a starting project so you would have thought go after a farm in on a producing asset and then use that as security on other assets. It's a bit like buy to let you start with a reasonable price house and work your way up borrowing off that and multiply your portfolio. Do that with oil fields and you could soon become a 60.000 a day producer. JC mentioned our assets as did some of the other names involved. Hopefully get 1st asset under our belt soon confirmed them if some of the posters are right on here a couple more within 6 months. If there is a bigger picture playing out here then I Can't see this relisting untill we have at least 3 assets as surely that would be too risky

[bestdeal1] 29/8/2020 16:46

two beans plus two beans = some beans..

1 rig + another rig + another rig = no rigs

[htrocka2] 29/8/2020 15:29

Where's the money gone?

I notice that Sirius Taglient owes SRSP large sums of cash...yet STLP have been valued at 'Nil'



From the Results..
Sirius Taglient Petro Limited (“STPL”)
In applying the accounting policies, which are described above, management have had to make a judgement on whether STPL should be consolidated as a subsidiary undertaking. The Company owns 50% of STPL’s issued share capital but has the right to buy the remaining 50% for a nominal sum and has management and operating control of that company. The 50% shareholders have waived their right to receive profit distributions from the company and are holding the shares as nominee of the Group. On this basis the Group consideritis a subsidiary undertaking and, therefore, has consolidated 100% of the company’s results for the period. The Directors have assessed fair value of the option to buy the remaining 50% of the share capital to be £Nil (2017: £Nil).


You've got to hand it to them...they're good 'bean-counters'....but unfortunately...that's all they are....just 'bean-counters'.

[xerot] 29/8/2020 14:40

That is like having an update from the doctor saying you may need a corn removing.

[qprallan] 29/8/2020 14:22

"None of the above is news worthy."


True but at least they WERE updates !

[oliversanvil] 29/8/2020 13:31

“Nero fiddles while Rome burns”

[qprallan] 29/8/2020 13:24

If shareholders have not already registered for future news updates you can register for updates via email by sending a 'register for updates' email to: [e-mail]

[bumhammer] 29/8/2020 13:01

Greasy nipples

[dr rosso] 29/8/2020 12:08

Where`s our money gone?


Almost $1m goes out each year in staffing/admin costs. Bury St. office lease is $192,000 p.a.
For O&G fieldwork, the Co. provides loans to its subsidiaries ...

At 31 December 2017, Sirius was owed $3,681,140 from Sirius Taglient Petro Limited,
At 31 December 2017, Sirius was owed $9,609,305 from Sirius Ororo (OML95) Limited
At 31 December 2017, Sirius was owed $ 91,367 from Sirius 2012 Limited

At 31 December 2018, Sirius was owed $4,042,076 from Sirius Taglient Petro Limited
The Company has taken advantage of the exemption under FRS 102 to not disclose transactions with wholly owned group companies

[captminion] 29/8/2020 10:30

Dr Rosso if it’s worthy of a response then your on to something.

HT2 perfect summary thank you.

[sherl0ck] 29/8/2020 10:16

DrRosso how did Alpha sell all their shares at 0.9p when the bid barely rose higher than 0.6p throughout Jan/Feb 19 and in fact it steadily decreased to 0.4p? By my calculations they would have been lucky to break even, and more than likely made a loss....which didn’t ultimately matter to them because it appears we were in a death spiral prior to suspension, which could have led to them taking a good chunk of the company very cheaply.

[htrocka2] 29/8/2020 10:02

Last years deficit was about $6m....this years will probably be about the same, so they borrow $15m to pay off these 'overheads'....leaving themselves $3m in the bank this coming Monday...….which means that unless they have a 'rabbit in the hat', they'll be out of cash by Christmas.....and will need to raise more.

It seems that 99.999% of their time is spent raising cash to live on. This is not an O@G company....it's a loan company. (the O&G aspect is used to raise cash to live on)

rns extract.
'The Group has in place a term sheet for a loan facility of up to $15m to cover its working capital requirement, and have included drawing this facility in full in its projections. The projections indicate that the Group would have a cash balance of $3m at 31 August 2020.This includes fully repaying the outstanding facility from European High Growth Opportunities Securitization Fund, which was secured in January 2019, amounting to GBP £1.32m, as well as other loans and creditors, in cash....'

[aventador] 29/8/2020 08:31

Yes we've all suffered enough even to see most of my money back would be a relief here any profit would be nice but losing isa status now, more stress and possibly costs if this did come back good. I just want this relisted around 2p will see my cash back and can move on put my money to good use and save what sanity I have left.

[xerot] 29/8/2020 08:21

Thanks Shez, option 1 sell out everyone's happy. Option 2, continue on this unpleasant path of pretending to be a normal firm whilst trying to do a deal and in the event of a deal this firm is highly unlikely to get any better at communicating and investor relations so therefore another hard Road of potential pain.

You may say we'll have an asset but it pales in comparison to the dilution and pain we have suffered over the years. Most people are looking for a pay day to reward them for all the hard years we've had here not more of the same and that is crux of the matter. Even with a signed deal on the table would likely be little compensation for what most of us have been through on here.

[shez20] 29/8/2020 08:16

Again xerot bang on mate!

[shez20] 29/8/2020 07:27

Rosso he has stated what he thinks will happen. Are you just choosing to ignore it as it doesn't go with the rumours being spread behind the scenes here?I’d be pleasantly surprised if there’s a ‘pull the rabbit out the hat’ announcement tomorrow. I doubt it though. I met Antenna a few years ago and I’m sure he had good intentions when he made his August prediction. Things may well have since changed/slipped.... they typically always do in the O&G world, especially considering the recent market upheaval we’ve witnessed.I hope there are cruise ships on the horizon but for starters I think we’ll most likely finalise an oil-focused asset or two before coming back to the market. All the talk of an imminent takeover, Dangote, Sirius Funding plc $10bn, ‘whole 1st floor’ of 25 Bury St, doing 241, Equinor etc is well off the mark in my mind.

[aventador] 29/8/2020 07:22

BumHammer?28 Aug '20 - 22:51 - 104668 of 104669 (Filtered)This makes me laugh filtering this mug! Hahahhahahahahah.

[dr rosso] 28/8/2020 23:38

Next stop, $85m. For 109 and 114. They don`t know the meaning of "adjacent" but sure can bash out some high numbers.

News next week, or is it going to be Q4? Etc

[bumhammer] 28/8/2020 22:51

Fanny batter

[deadly nightshade] 28/8/2020 22:28

Let the games play out then I rekon news will out

[1sonic] 28/8/2020 22:02

That’s funny Aventador