Sirius Petroleum Share Discussion Threads

[minichris] 24/9/2020 22:50

You sure your numbers are right?

[dr rosso] 24/9/2020 22:43

Double the present valuation but double the number of shares. Pretty much no change to current share price The big W hinting at worse. I`m not unduly concerned. The important thing is to get moving and onto frying bigger fish.

[minichris] 24/9/2020 22:18

Tunisia (from the rough numbers and previous sale price) is worth about £78m at todays exchange rates.

Book value (if we can even use that here?) Is £78m - current debt ÷ shares in issue.

Whats that work out as Dr?

Not sure how we then work out the market value, maybe use the reserves?

Or any historical P/B numbers we can use as an sample of previous sentiment?

[dr rosso] 24/9/2020 21:54

Acquiring cash-strapped ATOG in full in Deal 1, or taking a stake, or at least farming in to exploit its reserves means they`ll have collateral with which to trigger the $40m and execute the MPL 114 contract. Any meaningful link-up between Sirius and ATOG will send the powerhouse team of Taylor, Stein, OKeefe into Block 114 where Sirius holds the option to develop 107mboe of Abana gas. It looks all set up, the match being the money men (Sirius) and the technical team of primarily gas experts (ATOG, dually employed as Sirius consultants.)

My guess at the valuations.
Deal 1 : 6bn shares Mcap £30m Sp 0.5p
Deal 2 : 6bn shares Mcap £150m Sp 2.5p
Deal 3 : ....

[deadly nightshade] 24/9/2020 21:20

Thanks vat

[vatnabrekk] 24/9/2020 21:11

OML 114 Abana has been producing for years, but production has been reducing for some time so now it needs to be "enhanced" by work-overs and new drilling.

[deadly nightshade] 24/9/2020 20:49

Vat have you any rough ideas how long the oml 114 drill might take before oils hopefully hit

[1sonic] 24/9/2020 20:21

Regan has gone.....

It was Regan that plummeted the share to .25

Can’t even believe his name is coming up again.

[vatnabrekk] 24/9/2020 20:19

Dr. Rosso:
"But the new funding isn't for this first deal."
How do you know that Doc? Do you know what the first deal will look like? It might be similar to the business model proposed for 114 i.e. a farm-in to an already producing asset, in which case we shouldn't have to bring in a huge amount of additional equity.

[deadly nightshade] 24/9/2020 19:50

oml 114 if we are in on this drill first oil to the surface kicking everything off??

[dr rosso] 24/9/2020 19:35

"New funding incoming. If we get a producing asset then we are making money don't need more dilution".


But the new funding isnt for this first deal. They have to get to first oil, as was the case with Ororo, before the larger funding becomes available, reserves-based, to move onto the cruise ship stuff.

In all likelihood some long-term associate in the wings, and this could easily be the Regan crew, ready to take up a massive, say 2bn top-up. And ccould be offered the new shares at around the suspension price. Call it 0.5p, and Mr R`s 2bn at 0.5p, raising £20m, is on a par for sure with Alpha for existing shareholders. I think that this is what Big W is taking delight in telling us.

Howevever, far from being doomed, it`ll be a new rerated NewCo production platform, quite literally. Near-term oil revenue. Ready to catch much bigger fry. The sprat to catch the mackerel. They cannot go straight for the big fish.6bn shares with a NewCo cap of £30 leaves us all stuck on 0.5p at kick-off. A little more patience required, mainly down to the long-running Ororo fiasco.

Basically it`s an Ororo replacement manoeuvre. Plan B. Get a field into operation and use the reserves to procure bigger funding.

[deadly nightshade] 24/9/2020 19:19

the dilution if it comes might be more about another entity taking a stake in this. who knows from my experience where ever a aim share is involved dilution is never far away

[bleemster] 24/9/2020 19:02

Question is why can't we keep a funder for love nor money it's like we invite them and show them what's behind the curtains and they run off or go bustDidn't AFC have an endless cheque book?

[aventador] 24/9/2020 19:00

New funding incoming. If we get a producing asset then we are making money don't need more dilution.

[deadly nightshade] 24/9/2020 17:57

dr rosso you make a valid point regarding dilution, fully expecting heavy dillution on a low level revealed asset as can't imagine they could try and get a couple of billion shares issused at a cheap price on the back of a whole load of cruise ships docking.

[xerot] 24/9/2020 17:43

Waldof has the name nearly right should have been waldof salad as we know he likes to toss himself.

What a freak 🤪

[oliversanvil] 24/9/2020 17:42

Are you talking to me? Frequency problem!

[bleemster] 24/9/2020 17:37

She was being generous mate she must have been in a good mood hahaa

[1sonic] 24/9/2020 17:01

Bleemster, when I was with your wife she said you only got 4.5

:-)

[aventador] 24/9/2020 16:35

Waldof one of the big old rampers here sold up with no warning back then same as others no doubt disgusting, then pops up to say we won't see cash back, I sold TSTR years ago glad I did or id be totally potless now awful firm another one dragged on years least I took a profit there. Let's hope all this research done comes to something and we see news in autumn I don't expect miracles though but some hope still here if what jb said comes into fruition eventually!!!

[dr rosso] 24/9/2020 16:31

Forthcoming (done) Deal 1 will inevitably bring further dilution, prob quite heavy, so W prob correct, unlikely to see much in the way of enhanced shareholder value in the first instance. Not an issue really because I have long come to expect around 6bn in issue. All depends on what follows once they have succeeded in establishing a new platform, in new guise ie boarding the cruise ships in waiting.