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Share Name Share Symbol Market Type Share ISIN Share Description
Sirius Petroleum Plc LSE:SRSP London Ordinary Share GB00B03VVN93 ORD 0.25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.40 - 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -2.3 -0.1 - 15

Sirius Petroleum Share Discussion Threads

Showing 111851 to 111871 of 112600 messages
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DateSubjectAuthorDiscuss
26/9/2020
13:57
The 114 links unlikely to be mere coincidence. Shelf`s Trident VIII rig positioned and ready to drill + $40m procurement for MPL/Sirius which has led to a contract being awarded. It must surely be Sirius involved in this, especially with the $10m farm-in fee known to have been drawn down. Fair point about collateral. Why do they need anything else when there`ll be a stake acquired in 114 and the producing Abana field which still has 107 mboe of gas to go at? The answer to this could lie with the group`s history. Lie being the operative word. A multitude of broken contracts, false promises and fake messages. This BoD and whoever is backing them are simply not trustworthy. For me, the final giveaway was that Alpha EHGOS conversion loan, a deal so dreadful, distributing confetti to a bunch of cowboy loan practioners/ poker players. that one had to question the real motive behind it. Now those same card sharps mysteriously turn up at a Tunisian O&G newbie, spun out of a distinctly dodgy Congo explorer. Follow it up, and, quel surpris, a whole backing team shows up, directly associated with Sirius Petroleum. OKeefe COO with ATOG whist Acting COO with Sirius. (surely it is not possible to do 2 separate COO jobs at the same time!) Jon Taylor and his buddies Stein and Soper, all in from Havoc, key backer and warrant holder of Sirius. Another conspiracy theory it may be but if this ATOG merger goes ahead I`m putting it down to a bootfiller exercise for a select in-crowd ahead of major O&G deals already lined up elsewhere, those being cruise ships 114, 109 and 119. In due course jv/merger with ATOG a promising deal, nice set of assets, oil revenue, gas pipeline to Sicily. I`ll go along to some extent with Waldof`s shafting theory tho I do see imminent substantial reward for existing shareholders pretty much straight after this likely ATOG merger is sorted. Don`t be surprised if we are in for a fair old dilution hit before the real game-changer deals surface. Like Ant & Dec, I remain optimistic for a comeback, hopefully a short-term 5p+ relist rerate platform (tho it should be 10p+ were it not for the .... .... prob best if I do not go on.)
dr rosso
26/9/2020
13:12
Good point vat, if you were a bookie you would surely be offering odds on that we are in on 114. As Dr Rosso says what's the chance someone else also having the same exclusive farm in possibility on 114 and also finding a few million farm in fee in a couple of months to come along and gazump us. Plus also bare in mind a outsider would also be up against the recent oil price drop which in turn must make finding funding at short notice a lot harder to. Also what chance the outsider using shelf drilling who were also linked with us
deadly nightshade
26/9/2020
11:23
HT: "A field operator will not release or sign over a percentage of the field without a 'farm-in fee being paid". That's true, the farm-in fee has to be paid over to the licence holder before SRSP can benefit from the share of production. But consider the deal that was proposed for the OML 114 farm-in. Barak actually did put up the funding for the farm-in, and clearly they would have accepted the intended 40% share of production as collateral for that loan. Also, we were told by our directors (AGM Dec. 2019) that they had been promised funding of $40M for field development, probably through AFC, and also presumably using the 40% share of OML 114 as collateral. You say "the above business model doesn't make logical sense". Well surely it must make sense, otherwise SRSP wouldn't have got so far down the road with the OML 114 farm-in negotiations. This is where the proposed OML 114 deal differs from the deal that was proposed for Ororo, where SRSP had difficulty securing funding prior to first oil, because Ororo is not a producing asset.
vatnabrekk
26/9/2020
10:39
'I’m not sure it matters. Many companies file late. In fact you have a months grace before being fined and even then the costs / penalties are minimal' I don't suppose they give a t*ss...it's not their money there playing with..
htrocka2
26/9/2020
10:00
vat... with respect... '...to raise the farm-in fee using the company's share of production as collateral, similar to the business model for OML 114...' A field operator will not release or sign over a percentage of the field without a 'farm-in fee' being paid....from a funders perspective, the above business model doesn't make logical sense...the 'funder' will require the collateral of production until the farm-in fee is repaid.....so why does the funder need srsp in the first place?. The funder can go 'direct' to the operator and by-pass srsp should he so choose...it seems that srsp just want something for nothing, some would advocate that this is good business.....while others suggest that maybe that's why we haven't got anything or any deals signed off yet? (remember the COSL 'drill first-pay later' deal, it sounded like a good deal...but came to nothing.) I appreciate these comments are a bit harsh...but these are facts and this is the real world. Using the production as collateral model...why stop at a small 'farm-in'? why not take over BP...or Exxon...or Chevron...or all three at the same time) Joking aside,the bottom line is this....The funders hold all the cards, the ACEs, the Trump cards and control 'the game'...the bankers bankroll all the operations and have the final say without whom nothing moves......and as far as srsp are concerned...nothing has moved.(that we're aware of any way)...it's true that some one is allowing srsp to survive....but when you have the company's top chiefs refer to their $20m debt as 'an asset', they live in a different world to us.. and maybe this is what they're borrowing money against.? The last two AD's and relists were based on proposals that never materialised....that model is now dead.
htrocka2
26/9/2020
08:46
I wouldn't expect them to re-list on the basis of a small project that wouldn't enhance the value of the company. There just wouldn't be any point. Also, if they are coming with a farm-in to a producing asset, then there shouldn't be any need to raise further equity and dilute existing shareholders, because they ought to be able to raise the farm-in fee using the company's share of production as collateral, similar to the business model for OML 114.
vatnabrekk
26/9/2020
06:24
If we relist with a producing asset after all these years and see an share price of 0.4p then this will remain a massive failure. Of course it's just another hair brained guess job theory. If we get an asset which is supposed to be a very good one we will surely relist at a higher price or what's the bloody point.
aventador
26/9/2020
06:15
Baldrick would be better in charge.
xerot
26/9/2020
05:32
Maybe the cunning plan is to relist at 0.4p having acquired a new set of fairly duff assets. Pis sell up in droves. Then the phoenix transformation with 2 jvs and a rocketing share price Crediting this lot with having some kind of plan is generous, I know.
dr rosso
25/9/2020
20:30
I'm not sure it matters. Many companies file late. In fact you have a months grace before being fined and even then the costs / penalties are minimal.https://www.gov.uk/government/publications/late-filing-penalties/late-filing-penalties
sirianbotham
25/9/2020
20:03
They'll be back for the next series of "Get me out of here, I'm ITK".
vatnabrekk
25/9/2020
19:53
Ant & Dec have done the same disappearing act as the fabled cruise ships.
dr rosso
25/9/2020
19:07
That's right 1sonic, so Sirius's deadline for filing accounts would have been moved on by 3 months from 30 June to 30 September by my reckoning, not to 31st December.
vatnabrekk
25/9/2020
18:20
Yes I did born and breed Cliviger have a good weekend to you and everyone else and sorry for the distraction.
captminion
25/9/2020
18:14
Haha captmin.I've got a closer one than the kettledrum.did you know it's named after a gold cup winner and a favourite haunt of stan the man.
bronislav
25/9/2020
18:06
What would you call it captminion? Can change it to most misleading if you prefer.
bronislav
25/9/2020
18:00
My accounts were due in July and companies house automatically moved them on a few months as the timeline got closer so suspect the same happened with Sirius - covid related.
1sonic
25/9/2020
17:38
Well, with 9 Billion of bonds, they shouldn't have a problem funding $40M worth of drilling operations.
vatnabrekk
25/9/2020
17:21
Shez.I am as frustrated as you and for sirius to give 50% of the company away s significantI hope it is the last dilution and then onto progress.I don't have as big a holding anymore but I know some that do so for all the holders I hope we get rewards for unbelievable patience.If it were not for those 9 billion worth of bonds I would have written it off but it's clear to me they are what Berkeley Square was all about with Simon hawkins the valuation man alongside graham lyons the technical oil and gas man and Mr neal the bonds expert.The starting point will be first asset if rumours are correct but I won't be surprised if we hear nothing.Whoever picks those dilution shares up will want at least double so perhaps an exit point for some but I will see it through to its conclusion just in case ,but if it goes bust I won't lose much sleep purely because like most I've dealt with the going bust scenario.
bronislav
25/9/2020
17:06
It’s got massive anti climax written all over it. Just wait and see.
twentysixpointtwo
25/9/2020
15:59
I sent another email to Companies House about the accounts deadline. I've had a response to say that it has been passed on to the relevant team, and that they have been asked to respond within 10 working days. Of course that takes us beyond 30th September which is the date that I believe would be the correct accounts deadline. We will see what happens. You never know, they may publish the accounts by 30th September anyway!
vatnabrekk
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