Sirius Petroleum Share Discussion Threads

[qprallan] 04/9/2020 13:28

I agree vat. They would certainly want to bragg about their acheivements and if it had all gone belly up surely they would have come clean about that also. We just have to hope at this stage. I am in contact with someone on 114 and have asked them yesterday if they know anything. Just waiting to see if they reply,

[vatnabrekk] 04/9/2020 13:12

Of course, we could turn that on it's head and ask, if OML 114 is lost entirely, surely they would have announced that as well?

[vatnabrekk] 04/9/2020 13:10

That's my worry qpr. I know our BoD are worse than poor when it comes to communication, but if they had finally landed the OML 114 farm-in deal, surely even they would have announced it. Or put another way, why wouldn't they?

[qprallan] 04/9/2020 12:58

If we are not involved in the 40mill contract it looks like we are not involved with OML 114 then.

If the 40mill was the relevant amount, perhaps someone else has beaten us to it.

[vatnabrekk] 04/9/2020 12:46

Dr. Rosso, perhaps Mayowa Abiola wasn't dealing with Sirius at all, perhaps some other services contractor?

[dr rosso] 04/9/2020 12:20

In which case the con-artist fraudster would do us all a sunny favour and disappear under the waves for good.

[dr rosso] 04/9/2020 09:04

"Mayowa Abiola - Contract and Procurement Specialist - MONI ...ng.linkedin.com › ...
I have successfully handled the contracting processes of Abana Turnkey Drilling project worth $40million. (OML114)"


I wonder who she was dealing with. No announcement from our boys supposedly in on this.

[dr rosso] 04/9/2020 09:02

he said “I feel much more relieved now that it’s gone through”.


Had Bobo just come out of the toilet?

[bumhammer] 04/9/2020 07:01

No caps? You ok?

[lotusflower] 04/9/2020 06:12

Anybody new on board

[dr rosso] 03/9/2020 23:08

Rajraj b15 Dec '19 - 12:14 - 99909 of 104875
0 21 0
When I spoke to Bobo at the end of the AGM I asked him about the funding for project 1 and some estimated timelines, he said “I feel much more relieved now that it’s gone through”. When I pushed him on this it seems that the £40mil for project 1 is good to go and now the legal documents are being drawn up for it to complete. I asked how long will that take to which he nodded his head at about 6-8weeks, which means from that point we’ll be involved with a producing asset. The new AD should take a further 3 months after which we should relist. Again, his words albeit indirectly. So we’re about 5-6 months roughly before relisting. He seemed extremely genuine and did not volunteer this info willingly but was ok about it when I pushed him a little.

[jonnysquare] 03/9/2020 22:26

Otters pocket

[bumhammer] 03/9/2020 21:44

Hairy Clunge

[vatnabrekk] 03/9/2020 18:33

I would be absolutely delighted if we get an announcement that SRSP has signed off the Moni Pulo farm-in agreement for OML 114, and that they have secured the funding of $40M. Then I will gladly eat humble pie! But I'm not holding my breath!

[xerot] 03/9/2020 18:24

Guess work thats all any of this is. No one knows for sure.

[htrocka2] 03/9/2020 17:54

Vat..Dr….good find, well done.(so they managed to utilise them after all)


'The net proceeds of the Subscriptions will be used to pay the initial deposits on key equipment and long lead items (including wellheads, 'christmas tree' pipe and valve assemblies, and tubing hangers) ahead of the commencement of the proposed drilling programme on the Ororo field in conjunction with the Company's Project Consortium partners; COSL Pan Pacific Drilling, Add Energy, and Schlumberger.'

[qprallan] 03/9/2020 17:24

"vat - page 5 2018 accounts

Sirius is in advanced discussions with a third party funder for the provision of the required $40 million debt funding, which is intended to be secured directly against the cash flows generated as a result of the Ejulebe MWPC......."

So The million $ question. Have we got OML 109 and the 40mill being used for OML 114 ?

Is that feasable ?

We know that

Mayowa (Omotoso) Abiola
Contract and Procurement Specialist at MONI PULO LIMITED


Lists in her profile that she has been involved in a 40mill contract

[vatnabrekk] 03/9/2020 16:59

Well 1alfi, we've heard about "advanced discussions" before! We shall just have to wait and see, but my belief FWIW is that they weren't able to complete the transaction on that basis. Of course I will be very happy if someone can show me that it is otherwise.

[bestdeal1] 03/9/2020 16:51

if ifs and ands were pots and pans, there'd be no work for tinkers' hands

[1alfi] 03/9/2020 16:50

Vat - page 5 2018 accounts

Sirius is in advanced discussions with a third party funder for the provision of the required $40 million debt funding, which is intended to be secured directly against the cash flows generated as a result of the Ejulebe MWPC.......

[cornishtrader1000] 03/9/2020 16:32

IF Barak have gone and IF we drew down some money. Surely a positive Sirius have been able to repay, either via monies owned (unlikely) or new funding partner. AFC?

[vatnabrekk] 03/9/2020 16:27

Dr.Rosso, ref your post 104862, you are clearly assuming that SRSP's acquisition of Tetrach has been completed, but in my post above I explain that this acquisition was conditional upon SRSP providing funding for the development of Ejulebe, and I have seen no evidence that SRSP was able to provide the collateral to enable the acquisition to proceed to completion.