Sirius Petroleum Share Discussion Threads

[deadly nightshade] 06/9/2020 13:07

Is Sherlock correct or are all these endless names that have been stating they are associated with Sirius who have been carrying out all different types of work behind the scenes really putting together something significant. Antenna was creaming themselve over a in coming cruise ship and that has tied in with Dr rosso discovering articles that state work is now ongoing on assets we were linked to. Is this all a coincidence or are we finally coming to the business end here. Let's get these results out as they will make for interesting reading

[xerot] 06/9/2020 12:48

And there is the problem laid bare.

According to sherlock we are on the starting blocks with one asset. Wow wee after 12 years we ought open a bottle of dr pepper to celebrate this most daring of suggestions.

Back to square one after 12 years trying and failing to do a deal. This firm is simply madness.

You'd be better putting your money on a three legged rocking horse at 100 to 1.

There's a reason why they haven't achieved anything so far and that is they are incompetent.

If you went to a job everyday for 12 years and achieved zero I'm pretty sure you'd be out way before 12 years hit.

Maybe Bobo is now trying to be the new Mick Hucknall and he is giving himself another 12 years to write a hit record.

[deadly nightshade] 06/9/2020 12:36

Sherlock all said and done how long do you then think we are looking at before we see a return here, I am getting the impression from your couple of posts that the bod don't really have a clue what they are going after?? Which does not tie in with all this recent activity starting up on these couple of assets our name has been associated with

[sherl0ck] 06/9/2020 12:31

Shez - I’m inclined to think that some things we’ve looked at clearly just haven’t come to fruition (some as yet / some never will), rather than imagine this has all been a carefully constructed 8-10 year plan that will shortly be revealed with a multi-$bn takeover. Realistically we’ve had a lot of bad luck, hit some dead ends and made some poor decisions.

I haven’t completely written off Ororo, 109, 114 altogether, but I agree with posters that have talked about a ‘new asset’ and I don’t think that snippets about workover activity & procurement processes necessarily equals hidden Sirius involvement. I’m 99.9% sure we’ll announce a deal being completed before moving a rig.

I know the Board remain ambitious and I’m sure there’s stuff being worked on outside of public scrutiny (financial backing on 119 bid reinforces this). Farming into a producing oil field asap is the key priority as we can’t survive indefinitely without revenues, especially whilst unlisted. This should then help underpin larger funding options and open doors (probably some stuff we’ve looked at before & new assets requiring bigger funding).

[vatnabrekk] 06/9/2020 11:58

I agree with Sherl0ck that the priority now must be to do a farm-in into an already producing asset. In this regard OML 114 would seem to be ideal, because they can borrow funds for the farm-in element, and then start earning revenue immediately. Only caveat is that if they can't receive the revenue in cash until the DPR approves the deal, then that could leave them cash-strapped for a long time, hence that would be a big risk. Perhaps that's why there has been a delay on 114 so far? Just a thought.

[sherl0ck] 06/9/2020 11:43

No, a company absolutely has to adapt, even if it means wasted time & resources. I’m not saying we’ll never do gas, but farming into an already producing oil licence and gaining immediate revenues is a critical priority. I don’t get the impression 109 is a key focus, otherwise we’d have likely sorted it long ago. 114 may still be on the agenda but the world has changed significantly this year.
People can believe whatever they want and at the end of the day, if I’m totally wrong and there’s a super-secret, Dangote-led multi-$bn gas project & takeover, fine, I’ll be one of the first to doff my hat to others.

[shez20] 06/9/2020 11:29

Where do you think we are going from here Sherlock? If we are now to forget about ororo 109 114, what does that leave us with? You have said many a times it was not only about ororo and the bigger picture is being played out! What is it that you were referring to and is it still relevant? Do you expect to see a positive return or the bod to actually close a deal off anytime in the near future? With whatever comes there will no doubt be dilution meaning people with a higher average will be stuck in unless they take a hit! Do you believe we are working on it involved still with any of the larger blocks/assets that have been mentioned in the passed or do you think they are no more?

[xerot] 06/9/2020 11:23

sherlock I think the doc has a point. A company can't just change tack after years of working on one or a number or assets. To simply switch over to gas when it suits just doesn't work.

Its highly implausible and I really don't think that is your actual opinion.

My opinion is you know but can't say as it is sensitive or know more than others all the while giving a few hints

[htrocka2] 06/9/2020 11:23

O/T

Nigeria desperately needs to change its change gas strategy...The current waste is unacceptable....by merely increasing the 'gas flaring' penalty that's offset against the production cost of oil thereby making oil extraction less profitable is going gown the wrong road. Surely some form of technology can be implemented that captures, compresses and stores the stuff for resale?....it just seems such a waste..... we talk of investing vast sums and going into gas production...but the truth is that if you could invent a gas capture equipment, with the increasing gas flaring penalties imposed on Nigerian oil production...companies would give the stuff away for nothing.....no need to drill for it at all....it's free...just go and collect it.

[sherl0ck] 06/9/2020 11:11

‘Pig’ - If you genuinely wanted to understand and discuss why I’ve rightly changed my views on the gas vs oil debate, I’d be happy to explain how Sirius has needed to adapt to evolving market fundamentals and changing financier appetite etc. But it’s clear from your ‘1st post’ (LOL!) you’re just part of a recent concerted attack (led by someone who’s quick to hypocritically call others fraudsters, whilst themselves remaining unchallenged on a very recent ‘news next week’ announcement - 104695). Grow some balls, post under your usual identity and get some rhinoplasty because your nose has clearly been put out of joint.

[dr rosso] 06/9/2020 08:38

I don't write off Block 95 either. Chevron to settle for royalty payments whilst a gp-less consortium brings outlying gas fields back into production. We know from LinkedIn that Sirius has completed pre-drilled wells.

[dr rosso] 06/9/2020 08:33

Imo, it's because there is an entity behind the scenes running the big show. Quite likely that Sirius ppl are in the dark at times. The drilling updates were pure farce with hapless puppet wheeled out to dish out fabricated nonsense I dare say that the big show revolves around gas monetisation. I'd guess at Ondo State/Owena dictating events leading up to gas supply for domestic use and industrial use at Lekki. Owena still holding 241, where Schlumberger has been busy on behalf of Sirius. Owena the main holder in league with an indigenous producer, with Sirius as the services provider.

[xerot] 06/9/2020 08:00

None of it makes sense doc. Even what the company says never comes out to be true so all sources of info are null and void in my book

[dr rosso] 06/9/2020 07:41

£250k worth at 0.6p were grabbed by an insider shortly after the Nov 2018 AD.


Jan 2019
In addition, a further 46,933,334 new ordinary shares have been placed with existing shareholders at a price of 0.6 pence per ordinary share (the "Placing") raising proceeds of £281,600 (gross).





Hard to fathom why existing investors take shares at a 50% premium to the suspension price. Yet at the same time, discounted confetti was being thrown out to a Norwegian poker-playing cowboy outfit on outrageously awful terms. An inside job, if ever.

[vatnabrekk] 05/9/2020 23:30

Unless you are filing your company’s first accounts (see below) the time normally allowed for delivering accounts to Companies House is:

9 months from the accounting reference date for a private company
6 months from the accounting reference date for a public company

SRSP is a public company, so 6 months has been extended to 9 months.

[dr rosso] 05/9/2020 22:49

Accounts
Next accounts made up to 31 December 2019
due by 30 September 2020

Last accounts made up to 31 December 2018



Press release
Companies to receive 3-month extension period to file accounts during COVID-19

As a result of the COVID-19 emergency, HMRC announced that from 27th June, companies will have an extension to their statutory accounts filing deadline. The filing deadline is extended if it falls between 27th June 2020 and 5th April 2021 (including these dates).

This means that for a limited company, the deadline for filing accounts at Companies House is extended from nine months to 12 months.

[dr rosso] 05/9/2020 22:36

Well, 109 and 114 are both moving. The Q now is, "Was it Sirius that got them moving?"

[vatnabrekk] 05/9/2020 20:12

cautious: It's company law, nothing to do with being listed on the stock market or not.

[1sonic] 05/9/2020 20:06

Holly molly we may get an announcement of an AGM and accounts next week.

I won’t be attending as it surely will be “don’t worry guys we are drilling Q1” but with a smile from all the bod not just bobo.

Get the leprechaun to butter all up but enjoy the cakes and biscuits with coffee while they talk about drilling Ororo....

:/)

[cautioussid] 05/9/2020 20:05

Vatna:
I'm sure those rules are for companies listed on the LSE
SRSP are de-listed

[cornishtrader1000] 05/9/2020 19:53

Are there any allowances for COVID?

[vatnabrekk] 05/9/2020 19:47

As a plc, SRSP is due to publish its accounts and hold its AGM by 30th September. It should give 21 days notice of the AGM, so we should get that notice no later than next Wednesday 9th.

[dr rosso] 05/9/2020 17:54

No date, VAT but prob recent as it specifies 7T.

also this from July 2020


"Over the weekend, Atlas Petroleum International has resumed work over activities and well interventions on OML 109 in Nigeria in order to enhance production from the Ejulebe marginal field. ..The renewed development of OML109 will bring a boost to local content development in Nigeria"


Acc to Sirius AR "The Ejulebe Ueld comprises some 15 hydrocarbon-bearing horizons, producing oil, associated and non-associated gas (including condensate). The Ueld has produced approximately 14 million barrels (“mmbbls”) since 1998, is currently producing c.250 bopd ."


So, something has happened to allow Atlas to get producing more than a miserly 250 bopd. What?