Sirius Petroleum Share Discussion Threads

[htrocka2] 04/10/2020 17:39

Oliver... you could be right...

Forget
Uncertainty,
Confidently
Know that
Eventually it's a
Done deal.

[oliversanvil] 04/10/2020 17:36

Any body noticed! Boris's nose is now BROWN!

[vatnabrekk] 04/10/2020 17:11

I reckon the BoD have been busy all weekend dotting i's and crossing t's in the announcement document that they are going to release tomorrow.

[deadly nightshade] 04/10/2020 17:07

Thanks antenna hopefully that is the case as i don't fancy the alternative like the food bank

[qprallan] 04/10/2020 16:13

We will either be pouring Brandy over the Christmas Pudding or Ketchup over our Welsh Rarebit

[antenna2] 04/10/2020 15:54

Deadly. You will be eating very well this Christmas!

[deadly nightshade] 04/10/2020 13:36

Sherlock have you got a rough ETA of this smaller vessel with multiple decks? Will it bread and jam for Xmas dinner again this year?

[sherl0ck] 04/10/2020 11:16

Whitty....Valance....Rocka...

[vatnabrekk] 04/10/2020 10:54

I can't disagree with anything you say there, HT! They let each and every opportunity disappear over the horizon.

[htrocka2] 04/10/2020 10:31

vat....irrespective of the $15m or the $10m the problem is srsp itself. When they made these funding agreements they should have struck while the iron was hot. Take a quick look at their past records....They made a deal with LOG for $12m in Nov 2017, the contract period was for 17 months, the money had to be repaid in full by July 2019...they left it too late (they could have used the money before the LOG saga developed...as IOG did)), they should have drilled as soon as the LOG money became available, not waited a further 12 months. The BP contract signed in July 2017...I doubt that still exists, Schlumberger, 2016, TAC deal signed in 2015, Tide Water, COSL..never got used, all left too late. Just as Dr stated that Barack had put a stop to the draw down.....I doubt Barak would have halted the drawdown if srsp had immediately committed the money for the purpose it was intended .... as a result... the money was probably drip-fed into to keeping lights on and paying off debts and previous loans. 109,114 Tunisia and all the rest of it, to be honest, I've spent 12 years chasing SRSP rainbows...so I hope you'll forgive me if I don't get too exited at the proposal of chasing yet another 1..or 2...or 3.

[vatnabrekk] 03/10/2020 17:01

HT, I think we have already established the the 6 months moratorium referred to the $10M loan for the OML 114 farm-in fee.

[vatnabrekk] 03/10/2020 16:56

Bobo never offered me a ticket - I'm offended!

[bestdeal1] 03/10/2020 16:30

vatnabrekk3 Oct '20 - 13:13 - 105835 of 105839
0 1 0
I agree Doc. I would love to know what SRSP had up their sleeve to offer the lender.....

Bobo offered to organise a benefit gig with his top bands

[htrocka2] 03/10/2020 15:11

The problem is vat...if Yaw Keteku has already prevented srsp from a further draw down...the statement in the AR must be re-evaluated.


'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 31August 2020.'

If there's any truth in Dr's post...there's a lot of information there...has Yaw Keteku let the 'cat out of the bag'?

'...We had to give them a 6 month moratorium on repayment given the market. They should be able to weather the storm. They have some work to do. ..'

[vatnabrekk] 03/10/2020 13:58

I'm sure they told the lender, don't worry about it, Dr. Rosso, HT Rocka, Bron and Vat will stand good for the overdraft!

[bronislav] 03/10/2020 13:39

Whomever loaned the15 million would have wanted assurances on how sirius planned to repay the loan but also how they were paying existing loans ie the drawndown10 million.The fact the 15 million has been offered and expected to have been used (results projected they would have circa 3 million remaining in August 2020)is a huge positive as sirius have and are in a position to pay it back in my opinion.

[vatnabrekk] 03/10/2020 13:13

I agree Doc. I would love to know what SRSP had up their sleeve to offer the lender as collateral, if anything. They must have spun the lender a sufficient yarn to get the facility.